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2� 1 ��3131
<br /> ►o►�S�GNMENT �F �ENTS
<br /> Loan Na: 'N Q��95g�� ����t�nue�} Page 3
<br /> �his Assignm�nt and not reimbursed frflm the Rents shail �ecnme a part of the lndebtedness secured hy thEs
<br /> Assignment, and shal� be payable on demand, with interest a��he Note rate from date a�expenditure until paid.
<br /> FULL PERFQRMANCE. !� Grantor pays ail ofi the lnd��tedness when due and otherwise per�orms all the obligations
<br /> impvsed upon Grantor under th�s Assignment,the Note, and th� Related D�cuments, Lender shall execute and deli�er�o
<br /> Grantar a suitable satis�action of this Assignmen� and suitahle statem�nts ofi�ermination �f any financing sta�ement vn
<br /> �ile e�idencing L�nder's securi�y interest �n �he Rents and the Pr�perty. Any terminati�n �ee ree#uired by lauv sha�i be
<br /> paid by Grantflr, if permitted by applicahle law.
<br /> LENDER'S EiCPENDITURES. �f any action or proceeding is commenced �that would materially a�fect Lend�r's interes� in
<br /> the Proper�y or if�rantor fails ta c�mply with any pra�isi�n���his Assignment ar any Relat�d Dacuments, including but
<br /> nv�iimited to Grantor`s failurs to discharge vr pay when�ue any am�unts Grantor is required�a�ischarge or pay under
<br /> �his Assignment or any Related ❑ocumen�s, Lender vn GrantQr's behalf may �but shall not be abliga�ed �kv} �ake any
<br /> action �hat Lender d�ems appropriat�, incEuding �ut not 1imi�ed to dischar�ing �r paying al� fiaxes, iiens, security
<br /> inte��sts. encumbrances and oth�r claims, at any time le�ied or plac�d an the Rents o�the Property and payin� all casts
<br /> for insuring, maintaining and preser�ing the Property. Af[ su�h expenditures incurred or paid �y Lender for such
<br /> purposes will then bear interest at the rate charged under the Na�e fram the date incurred or paid by Lender to the date
<br /> �� r�paymen� by Gran�or. All such expenses will become a part of the lndebtedness and, at Lender's opti�n, ►nrill 4A}
<br /> be payahle�on demand; �By be added to the balance �f the No�e and be apportioned aman� and be payable wifih any
<br /> instaliment payments to bec�me du� during ��ther {1� the �erm of any applicab�e insurance policy; or {�y �the
<br /> rema�ning term o� the Note; or �C} be �reated as a �alloon paym�nt whi�h will b� due and payable at the Note's
<br /> maturity. The Assignment also will s�cure payment❑f these am�unts. Such right shall he in addition�� all other righ�s
<br /> and remedies tv which Lender may b� entitled upon Defaul�.
<br /> DEFAULT. Each of the f�llowing, at Lender's opti�n, shall cvnsti�ute an E�ent of Defauit under this Assignment:
<br /> Paymen�De�aulfi. Borr�wer�ails tv make any payment when due under the Indebtedness.
<br /> Qther Defaults. Borrow�r or Grantor fails to �omply with �r to perform any other term, �bligation, �v�enant or
<br /> cflndi�ion �on�ained in this Assignmenfi ar in any nt the R�la�ed Documents or to camply with or t� perform any
<br /> term, a�li�ation, cov�nan�❑r candition con�ained in any��her agreement between Lender and Borrower or�rant�r.
<br /> Default vn �th�r Payments. Failure of Grantor within the time requ�red by this Assignmen�t❑ make any payment
<br /> fvr taxes or Ensurance� ar any ather payment necessary�to preWent�iling ofi or to effect d�scharge Qf any liene
<br /> Fa1se 5ta�ements. Any warranty, r�pres�ntation or statement made �r furnished ta Lend�r by Barraw�r or�ran�vr
<br /> vr on Borrower's or Grantar's behalf under this Ass�gnment or the Related Documents is �alse a�misl�ading in any
<br /> material respect, either now �r at �he tim� made ar furnished or b�comes false �r rr�isleading at any time
<br /> therea�te�.
<br /> Defe��iv� Col�a#eralizativn. This Assignment or any of the Related Documents ceases tQ be in�Ful[ force and ef-�ect
<br /> �including�ailure a�any�oliateral document to create a�alid antl perfeGted secur`sty interes�t�r lieny at any time and
<br /> for any reasan.
<br /> InsolWency. The dissv�ution or termination of Borr�w�r's or Grant�r's existence as � �oing business. �he
<br /> insvl��ncy of Bnrrower or Gran�tor, the appointment of a recei�er for any par�t of Borrawer's or Grant�r's property�
<br /> any assignmen�far�h� benefit of creditors, any type af�r�dit�r workout, �r the comm�ncement o�any pr�ceeding
<br /> under any ban[�rup�tcy or insol�ency la�rvs by or agains�Borrawer or Grantor.
<br /> Credifior or Fvrfeiture Proceedings. Commencem�nt of for�closure or far��i�ure pr�ceedings, whe�her by judicial
<br /> proceeding, sel�-help, repossession �r any a�h�r method, by any �redit�r ❑f Borrower ar �ran�or or by any
<br /> goWernmental agency against the Rents ❑r any prop�rty securing�the Indebtedness. This includes a garnishment of
<br /> any vf Borrawer`s or�ranf�r's accvunts, including deposit accounts, wifh Lender. Howe�er, this E�ent of Defaul�
<br /> shal� not app[y i� ther� is a good faith dispute by Borrower or Grant�r as fio �he �a�idity or reas�nableness o# the
<br /> claim which is th� basis of the creditor or farfeiture proceeding and i� Barrower or Grant4r giWes Lender writ�en
<br /> no�ice af the c�-edit�r or forfeiture proceeding and depvsits with Lender m�nies or a sure�y bond for the cr�ditvr or
<br /> �orfeiture proceeding, in an amount determined by Lender, in its sofe discre�ion, as being an adequa�ke reser�e ar
<br /> b�nd far th�disput�.
<br /> Property Damage or Loss. Th� Property is lost, s�olen, substantially damaged, sold, or borrowed aga�nsfi.
<br /> Events Aff�cting Guarantor. Any o��he preceding eU�nts ❑ccurs with respec�t to any guaran�ar, endorser, surety,
<br /> or a�c�mmo�ativn party of any of th� Indebtedness ar any guaran�or, endors�r, surety, or acc�mmadation party
<br /> dies o� becomes incampe�ten�, or rev��ces or dispu�es the �alidity o�, ar liability under, any Guaranty o� the
<br /> I ndebtedness.
<br /> Ad�erse �hang�. A mater�af adverse change �ccurs in Gran�or's finan�ial condition, or L�nder helieWes the
<br /> praspect of paymen�or performan�e of the lnd�b�edness is impaired.
<br /> Inse�urity, Lend�r in good faith belie��s itsel�f insecure,
<br /> Gure Prv�isivns. If any d�fault, other than a default in payment, is cura�le and �f Gran�or has nvt been given a
<br /> n�tice vf a breach o�F the same pra�ision of this Assignmen� within �he preceding twel�e {�2} months, i� may �e
<br /> cure�l if Gran�or, af�er Lender sends written notice �o gorr�wer demanding �ure af such default: {1� cures the
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