|
2� 1 ��2�82
<br /> ASS�CN�IIENT C3� REN`TS
<br /> �C�nt�n ued} P�g� 2
<br /> Notice to `�enants. Lender may send natices tv any and a�l tenants af �he Prape�ty advising them af ��is
<br /> Assignment and directing all Renfs�o be paid directly to Lender or Lender's agent.
<br /> Enter�he Property. Lender may en�er upon and take possession of the Praper�y; d�mand, c���ect and recei�e from
<br /> �he t�nants or�ram any ather p�rsans liable therefar, a�l af�he Ren�s; ins�itute and carry on ail iegal proceed�ngs
<br /> neGessary fvr the pr�te�tion af the Praperty, including such praceed�ngs as may be ne�essary to recover
<br /> possession o��he Property;callect the Rents and remave any tenant or tenants or o�h�r persons trom the Proper�y.
<br /> flJlaintain the Property. Lender may enter upon the Prop�r�y to maintain the Prope�ty and keep the same in repair;
<br /> to pay the cas#s thereof and of all services vf a�l �mp�oyees, including their equipment, and nf a�f con#�nuing cos�s
<br /> and expenses af mainfaining the Prvperty in prope�repair and condi�ion, and alsv to pay a�l�axes, assessmen�s and
<br /> v+ra��r u�ilities,and the pr�m�ums vn f�re and o�her insurance ef�ected by L�nde�vn the Proper�y.
<br /> Complian�e with Laws. Lender may da any and al� things �o execu�e and comply �vith the lavsrs of �he 5tate �f
<br /> Nebraska and a�sv a�l ather [aws, �ules, orders, ❑rdinances and requiremen#s vf afl vther go�ernmental agen��es
<br /> affe���ng fihe Proper�y.
<br /> Lease the Property. Lender may rent o�-leas�the whofe or any part❑f the Property�or such #erm ❑r terms and on
<br /> such conditians as Lender may deem app�opria#e.
<br /> Emplvy Agents. L�nder may engage such �gen� or agents as Lender may d�em ap�ropriate, either in Lender's
<br /> name ar in Gran��r's name,ta ren�and manage�he Proper�y, including the col�ectivn and application af Ren#s.
<br /> ��her Acts. Lender may do afl such other th�ngs and acts w�th respect ta �he Prvperty as Lender may deem
<br /> apprapriate and may act exclusively and solefy in the place and stead of Grantor and to ha�� ali vf the pawers af
<br /> �ran�or for the pu�-pases sta�ed ab�ve.
<br /> No Requirement to Act. Lender shall no# be required #o do any o�the foregoing a��s or things, and the fact that
<br /> Lender sha�l have perfarmed one or more of the �oregoing acts or things shall nat require Lende�t❑ da any o�her
<br /> specific act or thing.
<br /> APPLICATI�N �F RENTS. All C�SfS and expenses incurred by Lender in connection with the Praperty shall be fvr
<br /> �ran�or's accvunt and Lender may pay such casts and expenses fram the Ren�s. Lender, in its sole diScretivn, shall
<br /> de�ermine#he applicativn o�any and all Ren�s receiv�d by it; hvwe�er, any such R�nts recei�ed by Lender which are
<br /> not applied tv such cas�s and expenses shall be appfied �o the Inde�tedness. All expenditur�s made by Lender under
<br /> �his Assi�nment and not reimbursed fr�m the Rents shall become a p�� of the fndebtedness secured �y �his
<br /> Ass�gnmen#,and shaff be payable�n demand,with interest at the Note rate�rQm date af expenditure unfi�i paid.
<br /> FULL PERF�RMANCE. if G�-antor pays all af the lndebtedness when due and vfherwise perForms all the obligativns
<br /> imposed upvn Gr�antar under th�s Assignment,the Nvte,and th�Related�ocuments, Lender shail execute and del��er to
<br /> Gran�or a suitable satisfactivn of this Assignment and sut�able statements of t�rmination of any frnancing statement an
<br /> fife e�idencing Lende�s security in�erest in �he Ren�s and the Prvperty. Any�erm�nation fee requ�red by law sha�i be
<br /> paid by Gran�or, if p�rmitted by appficab�e law.
<br /> LENDER'S E�PENDITU�ES. If any action ar proceeding is comm�ncecl�hat would mater�a�ly affect Lender's in�erest in
<br /> the Properky or if�rantar fa�ls to cvmply wi�th any pra�ision af this Assignment vr any Related[]oGuments,incf uding but
<br /> no#limified to Grantor's fai[ure�o discharge or pay when due any amounts Grantar is�equired ta dis�harge or pay unde�
<br /> this Assignmen� or any Refated Documen�s, L�nder on �rantar's �ehalf may �but �hafl nqt be a�liga�ed to} fake any
<br /> acti on #hat Lender deems appropriate, i ncl uding �ut no� I i m��ed �a dischargi ng vr payi ng af 1 taxes, �i ens, secu rity
<br /> interes�s,encumbrances and other claims, a�any time Isvied ar placed on�he Ren�s or the Prvperty and payin�ail�osts
<br /> for insuring, maintaining and preservin� the Property. A�I such expenditures incurred or paid by Lender fvr such
<br /> purposes wili�hen bea�in�erest at the ra�e Gharged under�he Note fram tha date incurred or paid by Lende��a the date
<br /> a��-epayment by Gran�or. AI I such �xpenses wi I I become a part of the Inde��edness and, at Lender�s aption, wi I� �A}
<br /> be payable an demand; �B} be added to the balanGe af the IVote and be apportioned�m�ng and be payable with any
<br /> insta�lmen� payments tv become due during either (1� th� �erm of any appiicala�e insu�an�e policy; ❑r �2} the
<br /> remain�ng term o� �he IVo�e; o� �C} be�reated as a ba�loc�n payment which wi!I be due and payable a� fhe Nofie's
<br /> m�turity. The Ass€gnment alsa wili secure paymen�vf�hese amaunts. 5uch r�ght shall be�n additivn tv al�o�her righ�s
<br /> and remedies ta whiGh Lender may be entitled upvn t3efault.
<br /> �EFAULT. Each af�he f�l�awing, at Lender's optian, shai�canstitu�e an Event vf Defauft unde�this Assignment:
<br /> Paymen��efault. Gran�or faifs fio make any payment when du�under the ]ndebtednes�.
<br /> �ther Detaults. �rantv�- fails to camply with �r to perfiorm any ather term, abliga�ion, co�enant or condition
<br /> contained in this Assignment or in any of fih� Rela�ed DaGumen�s or �v camply with vr �o perform any term,
<br /> ❑bligation,cv�enanfi ar cvnditian contained in any ather agreement beiv�reen Lender and Gran�or.
<br /> Default on ��her Paymen�s. Failure of Grantor within the time required by this Assignment to make any paymen�
<br /> fo�-�axes or insurance, or any other payment necessary�o pre�ent�Filing �f ar t� e�fe�t dis�harge o�any lien.
<br /> i�efault in Favv�- of Third Parties. �ran�ar de�auf�s under any loan, �x�ension of �redit, security agreement,
<br /> purGhase vr sal�s agreement, ar any ather ag�eement, in favor�f any other creditor or person that may material�y
<br /> affect any ofi Grantor's praperty ❑r ability to perform �rantar's abl�ga��ons under �his Ass�gnment or any af�he
<br /> Related Dacuments.
<br /> Fa[se S#atemen#s. Any warran�y, representa��on ar sta#emen# made ar furnished to Lender by Grantor ar on
<br /> �ran�or`s behal�under this Assignment or the Re�a�ed Documen�s �s faise or misleading in any material respect,
<br /> either n�w vr at the�ime made❑r fu�-n�shed ar becomes false o�mis�eading a�any time�hereaf�er.
<br /> De�Fect`r�e�vllat�raliza�ion. This Assignment or any❑f�he Ra[ated Dvcuments ceases to be in full farGe and effec�
<br /> �inc�uding failure of any cvlla�eral docurnent to create a val�d and per�ected secur�ty in�eres�ar lien}at any��me and
<br /> for any reasan.
<br /> Death vr�nsol�ency. The death of Grantor,�he insol�ency of�rantvr,the appointment o�a receiver far any part a�
<br /> Grantar's property, any assignment fvr �he benefit ofi creditvrs, any �ype vf creditor workou�, or �he
<br /> commen�em�nt❑f any proceeding under any bankrupt�y ar insaf�ency laws by or against�rantar.
<br /> Cred�tor or Far��i#ure Proceed�ngs. Cammencement of foreclvsure or forfei�ure proceedings, whether hy�udicia2
<br /> proceedin�,self-help, repass�ssion or any other me�had,Iay any creditar of Grantor ar by any g��ernmental agency
<br /> aga�ns# the R�nts or any praperky securing �he lndeb�edness. This includes a garn�shmen� af any of Grantor's
<br /> a�counts, including dep�sit ac�aunts, with Lende�. Hvwe�er, �his Event of De�aulfi shafl nat apply if there is a
<br /> gaod faith dispute by Grantor as to the validifiy�r r�asonableness o�the claim which is the basis of the creditor�r
<br /> forfeiture pro�eeding and i�Grantar gi�es Lender w�itten notice of�he creditor�r forfieitu�e prQ�eeding and depasits
<br /> with Lender monies or a surety b�nd fi�r the credit�r or fivrFeiture prv�eeding, in an amvun�de�ermined by Lender,
<br /> in its so�e discrefiivn,as being an adequate reserve or bond for the dispute.
<br /> Property�amage or Lass. Ths Property is last, stalen, substantial�y damaged,sold, or borrowed agains�.
<br /> E�ents Affec�ing Guaran�or. Any o�the preceding e�ents occurs with �-espect to any guaranfQr, �ndvrser, surety,
<br /> ❑r accommodatian party of any❑€the lndeb�edness ar any guaran#vr, endorser, surety, qr a��ommada�ion party
<br /> di�s or b�cames incompetent, or re�okes or disputes �he va�idiiy of, or �ia�ility under, any Guaranty �-� the
<br />
|