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2� 1 �� 1575
<br /> ���������� �� �����
<br /> �.v�� N�o ��������� ���r��i�ue�� ��g� �
<br /> remaining term ❑� �he Note; or �G} be treated �s a bailaon paymen� which vvill be due an� payable at the No�e's
<br /> ma�turi�y. The Assignment afs❑ will secure paymen�.o�these amounts. Su�h righ�shal� be in addi�ion to all vth�r rights
<br /> and remedies�� which Lender m�y be entitied upan ❑efauit.
<br /> DEFAULT. Each vf�he toElawing, at Lender's optivn, sha[l�onsti�ute an E�en�a�De�aul�under tF�is Assignmen�:
<br /> Paynn�nt�]efau��, Grantor fails t❑ mak�any payment when due under the]nde�a�edness.
<br /> �the� ��f�ul�s. G rantar fails �❑ cvmply uvtth or �a perform any ❑ther �erm, vbl�ga�ion. co�enan� or conditi�n
<br /> cvntained in this Assignment vr in any ❑� �he Related Dacumen�s or tv cvmply with vr to perfarm any term,
<br /> abliga�ion, covenant or condition�r�ntained in any o�her agreement be�ween Lender and �rantor.
<br /> Defaul�an Other Payr��nts. Failure af�rantor within the �ime requEred by this Ass�gnmen��v make any payment
<br /> fvr taxes vr insur�nce, or any v�h�r payment necess�ry ta pre�ent filinc.,� of❑r to e�feGt dis�harge ot any fien.
<br /> Fa�se ���tem�n�s. An� ►�varranty, repres�n�ati�n or statement made ar furnished to Lender by Grantor vr on
<br /> Grantor's beha�� under this Assignmenf or the Rela�ed ❑ocuments is f�lse or mis�eading in any material respect,
<br /> ei�her novu�r at the time made ar furnished or�e�omes false❑�misleading at any time thereafter.
<br /> �e�e��+�e Cvli�a�er�liza�ion. This �ssignment❑r any v�the R�la�ed Dacuments cea�es �v be in tu11 forG� and e�fe�t
<br /> �including��i[ure❑f any�oll��eral documen�ta create a�alid and perfec#�d security interes�or l�en� a��ny�ime and
<br /> #vr any r�ason.
<br /> Dea�h or�r��v��e�cy. The dea�h a�Grantvr,th� insol�ency o�Gran�or, the appointm�nt af a recei�er�Fc�r any part of
<br /> �rantar`s pr�p�erty. any assignm�n� #or th� benefit of cr�dE�ors. any type af �reditor ►rvQrkout, ar the
<br /> �ommencem�n�a�any proGeeding under any bankrup��y ar ins�l�ency laws by ar ag�ins�Grantor.
<br /> Credi�or vr FQr���ure Pra��edings. �vmmencement vf fore��osure ar forfeiture proce�dings, whether by judicial
<br /> proceeding, sel�-he[p, repossessic�n or any ather me�hod, by any�redi�c�r��Grantor vr by any government�� agency
<br /> agains� the Ren�s or any proper�y securing �he Indebtedness. This includes a garnishment v� an� at Gran�or's
<br /> accaunts, in�luding deposit ac�oun�s, w��h Lend�r. Howe�er, this ��ent o� Q�faul� sh�!! not apply if �here is a
<br /> good fait� dispu�e by Gran��r as-to �he �alidrty ar reasonablenes� of the claim ►�vhich is the basis of�he cr�ditor ar
<br /> fQrfieiture prQG�eding and ifi Grantor gi�es Lender writ�en notice o�the creditar or forfeiture proceeding and de�vsit�
<br /> with Lend�r manies or a �ure�y bond �or th� creditar�r forfeiture proceeding, in an �mr�unt determined by Lender,
<br /> in i�s sale discretivn, as being an adequate reser�e o�bond�or the dispu�e.
<br /> Prop�r�y[7�ma��oe�Loss. Th� Praperty is Ivs�, stolen, subs�antialiy d�maged,soid, vr br�rrawed agains�.
<br /> Events Af�eG�inc� Cuaran�o�. Any a�th� Q�ecediny e�ents occurs with respect�o any guaranto�, endorser. sure�y,
<br /> or accommvd��Eon par�y of any o�F the Ind�b�edness vr any guar�n�ar. endorser, sure�y, ❑r accQmmvd��ian par�y
<br /> dies a� becvmes incampetent, ❑r re�nkes ar disputes �he �a�idi�y ��, ar liability unde�, an}r �uaranty a�r �he
<br /> lndebtedness.
<br /> �4dve�s� Change. A material a��erse change ❑ccurs in Grantc�r's �inancia! condition, ar Lender belie�es the
<br /> prospee�af paymen-�vr pertormance❑�the indebtednes�is impaired. '
<br /> I�secu�i�y. Lender in govd faith be�ie�es itself insecur�.
<br /> Cu�� Pro�►�siv�s. !f any defaul�, other than a de�aul� in payment, is curable and �f Cr�r��or has not b��r� giWen a
<br /> natEce af a breach of the same pro�ision of this Ass�gnment within the preceding twelWe {12} manths, i� may be
<br /> Gured i� Gran�vr, a�er Lender sends written nvtice �❑ Gran�vr demanding cure ❑f su�h de�aul�: ��y cures the
<br /> default�rvi�Chin�i�fieen t�5f days; or �2} if�he cure requires m�re�Chan��fteen �1�} days, immed�a�ely ini�ia�es s�eps
<br /> whiGh Lender deems �n Lender`s sole disc�e�tion tv be su#�icien# to cure the de�ault and �hereafter c�ntinues and
<br /> complet�s a�l re�sanable and necessary steps su��icient to pr�duce compliance as s�on as reasonably�r�ctical.
<br /> R[CHTS AND RE�EDIES ��! D�FAULT'. Upon�he occurrence o�any E�en�vf De�ault and at any time therea�er� Lender
<br /> may exercise any Qne or mare ot the �FoElvwing rights �nd �emedies, in addi�rion to any o�her rights or rem�di�s prs��ided
<br /> by�aw:
<br /> Accele�a�� Ir�d�b�edness. Lender shall have the r�gh� a� its aptiQn �o declare the en�ir� lndebtedness immediat�ly
<br /> due and �aayable, including any prepayment pena�ty tha�Grantvr wvu[d be required fi❑ pay.
<br /> �all�c� Ren�s, Lender shal� h��e the right. wi�h�ut natice tv �r�n�vr, tv take pvssess�on ❑f the Proper�y and
<br /> �o!lect the Rents, including �maunts past due and unpaid, and appEy the net prviceeds, over and abo�e Lender's
<br /> cos�s, against �h� lndebtedness. !n tur�herance af�his right, Lender shall ha�e all the r�ght� pra�id�d �vr in �he
<br /> Lender's Right to R�ceive and Gollect Rents �ectian, abv�e. f��he Rents are colle�ted by Lend�:r, �h�n Grantar
<br /> irre�ocably designa�es Lender as Grantor's a�ttarney-in-�act�o endorse instruments re�ei�ed in payment therev� in
<br /> the name afi Gr�ntor and �o nega�i��e the same and Gvllect�he pro���ds. �ayments by �enants Qr �ather users �o
<br /> Lender in response to Lender's demand shali satis�the obliga�inns for which the paymen�s are made, v►rhether or
<br /> nat any prope� grvunds �ar the demand e�is�ed. Lende� may ex�rcis� its r�ghts under �his sub�aragraph ei�her in
<br /> person, by�gent. ❑r thraugh� recei�er.
<br /> Qthe� Fi�medies. Lender shail haWe aE� vther rights �nd rem�dies pro�ided in this Assignment vr the [Vv�e �r by
<br /> [aw.
<br /> El�c�ion a��emedie�, Election by L�nder�o pursue any rem�dy shall no�exclude pur�ui�af any❑ther remedy, and
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