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2� 1 �� 152�
<br /> ASSI�NMENT C]F RENTS
<br /> Loan Na: '1 D 1�94U�7 {Cont�tlued� Page �
<br /> AND ALL Q6L1GATIDNS �F �RANT�R UN�ER THE N�TE, THIS A551GNMENT, ANI� THE RELATED D(]CUMENTS.
<br /> THIS ASSiGNMENT IS GIVEN AND AC�EPTED�N THE F�LL�IJVING TERMS:
<br /> PAYIVIENT AN❑ PERF�RN[ANCE. Excep� as ntherwise pra�ided in this Assignmen�❑r any Refated Documents, Grantor
<br /> sha�! pay �❑ Lender all amounts se�ured by this Assignm�n� as they become due, and shall strictly pertorm all a�
<br /> Grantar's ❑bliga�ions und�r-this Assignment, lJnless and un�il Lender�exer�ises its right to collect the Rents as pro�ided
<br /> b�low and so long as th�re is no de�ault under this Assignment, �rantor may rema�n in possessian and control ot and
<br /> �pera�e and manage the Proper�y and cal[ect fihe Rents, pro�ided �hat the grant�ng o��he righ�to collec��he Ren�s shall
<br /> no�constitut� Lender's cansent t❑the use of cash Gol�ateral En a bankrup�cy proceeding.
<br /> GRANT�R'S REPRESENTATIDNS AND VIIARRANT�ES. �rantor warrants that:
<br /> �wnership. Gran�vr is en�it[ed �❑ r�cei�e the Ren�s �ree and clear of all r�ghts, Ioans, liens, encumbrances, and
<br />� claims except as disclosed to and accepfied by Lender in wri�ing.
<br /> Righ##o Assign. Grantor has the full right, pow�r and au�hority to enter int❑ this Assignment and t� assign and
<br />, con�ey the Rents�o L�nder.
<br /> Na Prior Assignment. Gran�or has nvt pre�iously assigned or con�eyed the R�nts to any other person by any
<br /> ins�rumen�naw in farce.
<br /> No Furfiher Trans�er. Grantor will not sell, assign, encumber, ar o�herwise dispase vfi any❑f Granfior's rights in the
<br /> Rents except as praWided in this Assignment.
<br /> LEN�3ER'S RIGHT T� RECEIVE AND C�LLECT RENTS. Lender sha(l ha�e the right at any time, and e�en though no
<br /> de�au�t shal[ ha�e a�curred under this Assignm�nt, �o collect and recei�e the Rents. Far this purpose, Lender is hereby
<br /> giWen and gran�ed the following ri�h�s, powers and authority:
<br /> Nofiice #o Tsnants. Lender may s�nd n�tices t� any and all �enants �fi the Property ad�ising �hem ❑f this
<br /> Assignment and directing all Rents�❑ be paid dErectly to Lender❑r Lender's agent.
<br /> Enter#he Property. Lender may enter upon and take possessivn ❑f-khe Proper�y; demand, collec�and rece�We from
<br />, �he tenants ❑r from any other persnns [iable fihere�ar, all o��he Rents; ins�itute and carry an all legal proceedings
<br /> necessary for the prot�ction �f the Property, including 511C�1 proceedings as may be necessary to reco�er
<br /> possession❑fi the Property; collect the Ren�s and remo�e any tenant ar tenants or o�her persans from�he Property.
<br /> Maintain �he Property. Lender may enter upon �he Property ta mainta€n �he Proper�y and keep �he same in repair;
<br />� t❑ pay the eosts �hereof and of all ser�ices of all emp�ayees, including their equipment, and ❑f all c�ntinuing costs
<br /> and expenses of maintaining the Praperty in praper repair and condi�ion, and also to pay a!i taxes, assessments and
<br /> vua��r u�ili�ies, and�khe premiums on fire and o�her insuran�e effec��d by Lender on the P�-operty.
<br /> Compliance wi#h Laws. Lender may do any and all things tfl execu�e and comply with �he laws ❑f �he Stafie o�
<br /> Nebraska and also all other Eaws, rul�s, orders, ordinances and requiremen-�s afi all o�her goWernmental agen�ies
<br /> affect�ng the Pr�perty.
<br /> Lease�h� Prvper�y. Lender may rent ar I�ase the whale ❑r any par�ofi the Prope�ty�or su�h term o�terms and ❑n
<br /> such condi�ions as Lender may deem apprapriat�.
<br /> Employ Agen#s. Lender may engage such agent or agents as Lender may deem appropriate, �ither in L�nder's
<br /> name❑r in Grantor's name, to renf and manage�he Property, including�he collection and appiicat�on o�Ren�s.
<br /> �ther Acts. Lender may do all such ❑�her things and ac�s wi�h respe�t �o the Property as Lender may deem
<br /> apprapriate and may act exclusi�ely and salely in �he p�ace and stead �f Grantar and t� ha�e all of th� pawers af
<br /> Gran�ar for the purposes s�a�ed abo�e.
<br /> No Requiremenf�o Act. Lender shall no� be required t❑ do any af th� -�oregving acts �r things, and the tact that
<br /> Lender shall ha�e pe��armed one or more of�he foregoing acts or th�ngs shall no� require Lender to do any other
<br /> speci�ic ac�or�hing.
<br /> APPLICAT�QN flF RENTS. All C05�5 and expenses incurred by Lender in �annection with fihe Proper�y shal[ be for
<br /> Grantor`s account and Lender may pay such cas�s and exp�nses from �he Rents. L�nd�r, in its sole discretinn, shall
<br /> determine the application ❑f any and al( Rents recei�ed by it; hovue��r, any such Ren�s recei�ed hy Lender whi�h are
<br /> no� applied �o such costs and expenses shall be applied tfl the Indebtedness. A�� expenditures made by Lender und�r
<br /> this Assignment and nvt �eimbursed from the Rents shall became a part o� the Indeb�edness secured by this
<br /> Assignment, and shall be payable on demand, with in�erest at the Note ra�e from da�e o�expenditure unti� paid.
<br /> FULL PERF�RMANCE. lf Grantor pays all of the Indebtedness when due and otherw,ise perfiorms all the oblEgatians
<br /> imposed upon Grantar und�r this Assignmen�,the Note, and�he Related Documents, Lender shall execute and defi�er to
<br /> Grantor a suitable satis�actifln of this Assignment and suitahle s�atements o-F termina�ion o� any financing s�atement❑n
<br /> file e�idencing Lender's security interest in �he Ren�rs and �he Property. Any termina-ti�n fee required by �aw shal[ be
<br /> paid by Grantor, if permitt�d by applicable law.
<br /> LENDER'S EXPENDITLJRES. lf any action �r proceeding is cammenced �hat would materially a�fect Lender's interest in
<br /> the Praperty❑r if Grantor fails ta comply with any pro�isian of fhis Assignment�r any Related ❑acuments, including but
<br /> na�limited to Grantor's failure to discharge ❑r pay when due any amoun�s Grantar is required�o d�s�harge �r pay under
<br /> this Assignmen� ❑r any Rela�ed Docum�nts, Lender on Grantor's behal� may �hu� shall not be ohligated to} fiake any
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