|
2� 1 ��3131
<br /> ,►�►,SSIGNMENT �F RE1V�fS
<br /> L�an No: 'i D'1��5$�� �G�n��nued� Page 4
<br /> de�Fault within fi�Fteen {"�5} days; or {�} if the �ure requires more �han fifteen �15y days, �mmediate�y initiates s�eps
<br /> which Lender deems in Lender's svle discretion to b� sufficient t� cure the de�ault a��d thereafter can�inues and
<br /> carnpletes all reasona��e and necessary s�eps sufficient to praduce campIiance as soon a�s reasonably pract�cal.
<br /> RIGHTS AN❑ REIUIEDIES C]N DEFAULT, Upan the accurrencs of any E�ent�f D�fault and at�ny�ime therea�F�er, Lender
<br /> may exercise any one ar more of the fo�lowing rights and remedies, in addition to any vther x�gh�s or remedi�s provided
<br /> by law:
<br /> A�cefera#e lndeb�edness. Lender sha[I ha�e th� right at i�s optEon to dec�are the entire Indel��edness immediately
<br /> due and payable, including any prepayment pena�ty that Barrov►rer would be requ�red to�ay.
<br /> C�Ilsct Ren�ts. Lender sha11 hav� the righ�, wifihvut natice �o B�rrawer or Grant�r, fio take possession of the
<br /> Prvperty and col�e��k �he Rents, �n�luding amvunts past due and unpaid, and apply t�e net proceeds, o�er and
<br /> abo�e Lender's costs, against the indeb�edn�ss. In �urtherance of �his righ�, L�nde�r shall hav� all �he rights
<br /> prov�ded for in the Lender's Right to Recei�e and Collec� Rents Sec�ian, aba�e, If �he Ren�s are c�llect�d by
<br /> Lender,then Grantor irreWocably designates Lender as Grant�r's attorney-�n-fact�ko end��se instrumen�s r��ei�ed in
<br /> payment�hereof in�he name of Gran�ar and to negatiate�he same and cQ[lect the pr�ceeds. Payments by tenants
<br /> or other users to Lender in response to L�nder's demand shall satisfy the obiigations f�r whi�h the paymen�s ar�
<br /> made, whether or not any prvper graunds for th� dernand existed. L�nder may exercise its r�ghts under �khis
<br /> subparagraph either in pers�n, by agent, or throu�h a recei�er.
<br /> Qther R�medies. Lender sha[I have al! o�her �ights and remedies pro�ided in this Assignmen� ar the No�e ar by
<br /> law.
<br /> El�c�ion vf Remedies. Election by L�nder tv pursue any remedy sha�l not exclude pursu�t of any�th�r remedy, and
<br /> an �le�tian to make exp�nditure� or tv take a�tian to perfarm an obliga�i�n of Grantor under this Assignment, after
<br /> Grantar's failure to per�arm, shall no�aff�ct Lender's right tv declare a de�ault and exercise i�s remedies.
<br /> A#torneys' Fees; Expenses. If Lender insti�utes any suit or acti�n ta enforce any of�he terms of this Assignment,
<br /> Lend�r shal[ be entit[ed to recover such sum as the court may adjudge reasvnable as attorneys' �rees a� firial and
<br /> upon any appeai. Wheth�r ar not any court actian is involved, and �o the exten-� not pr�h�bited by law, all
<br /> reasonab[e expenses Lender incurs that in Lender's apinian are nec�ssary a� any tirne for �he protection of its
<br /> interest or the enfar�ement af its rights shall became a part of�he lndebtedness payab�e �n demand and shall bear
<br /> interest at�he Note rate from the date of the expenditure until repaid. Expenses coWered by this paragraph include,
<br /> without limitation, howe�er subject to any iimits und�r applicable �aw, Lender's at�vrne�s' fees and Lender's legal
<br /> expenses, whether or not there is a lawsuit, including att�rneys' fees and expenses €or bankrup�cy proce�dings
<br /> �inc�udin� eff�rts to modify or vacat� any autamatic s�ay or injunction}, appeals, and any an�kicipa�ed post-judgment
<br /> Gvllection ser�ices, �khe �os� of sea�ching r�cords, abta�nin� ti�fe r�p�r�s �inc�uding fiorec[osure reports}, sur�eyors'
<br /> reports, and appraisa� fees, titl� insurance, and fees for the Trustee, to the extent permitt�d by appiica�le law.
<br /> Grant�r alsa wi�! pay any cvurt cas�s, in addition t❑ al� o�her sums praWided by law.
<br /> IVI�S�ELLANE�US PR�V151�NS. The foilowing miscellaneaus provisians are a part of�h�s Assignment:
<br /> Amendments. This Assignment, together wi�h any Related Do�uments, constitutes �he entire un�erstanding and
<br /> agreement of the par�ies as t� �he matters set ��rth in fhis Assignmen�. No al�eration of or am�ndm�nt to this
<br /> Assignmen-� shall be effe�ti�re un�ess g��en in wrEting and si�ned by the party or parties s�ught �to be charged or
<br /> bound by�th�al�eration or amendm�nt.
<br /> Caption H�adings. Gap�kion headings in �his Assignment are far conWenien�e purpvses only an� are not t� !ae used
<br /> to interpret ar define�he praWisians of this Assi�nment.
<br /> GoWerning Lavrr. This Assignment will be guverned by federal law applicabi� tv Lender and, tv the extent nvt
<br /> preempted by�Federal lav+i,�he �aws vf�he S�#ate v�F Ne[�raska withou�r regard ta its confl�G�ks af law prov�sions. This
<br /> Assi�r�rrr�er����a�b��r��c�ep��d�y Le�der in�he�tat�af N�braska,
<br /> Choi�e v# Venue. If there is a lawsuit, Grantor agrees upon Lender's request ta submi� to the jurisdiction of the
<br /> courts af HALL County, 5ta�e of N�braska.
<br /> Join� and Se�eral Liabilt�y. All obligations o� B�rrower and Grantvr under this As�ignment shall be joint and
<br /> se�eral, and all references ta Grantar shall mean each and eWery Grantor, and al[ re�erenc�s to gorrower shall mean
<br /> each and e��ry Bvrrower. This means that each Grantar si�ning below is r�sp�nsible fior aIl o�ligations in this
<br /> Assi�nment, Wh�re any❑ne�r mare af the parties is a corpvration, par�cn�rship, limited liability cvmpany or similar
<br /> enti�y, it is nat necessary for L�nder�o inquire int�the powers af any of the o��icers, directors, partners, members,
<br /> or other agents acting ❑r purpor�in� to act vn the entity's behalf, and any obiigations made or crea�ed in reliance
<br /> upon th� pr�fessed exercise a�such pawsrs shall be gua�ant�ed under this Assignment.
<br /> llJlerger. There shall be na m�rger of the in�erest or estate created by this assignm�nt with any other in�erest ar
<br /> estate in the Property a�any time held by or f�r the bene�Fit afi L�nder in any capac�ty, without ths writ�en consent
<br /> of Lender.
<br /> In�erpretati�n. �1} In al� cases where there is m�re than one Borrower or Gran�ar, then all words used in this
<br /> Assignment in the singuiar shall be deem�d tfl have been used in the plural where the context and construGtion so
<br /> re�uire. {�� I�more�han one pers�n s�gns this Assignment as "Grantor," the obli�ations of each Gran�or are joint
<br /> and se�eral. This means �ha� if Lender hrings a lawsuit, Lender may sue any ane �r m�re of the Grantvrs. I'F
<br />
|