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200003380 Section 3.4 Upon the occurrence of a default hereunder, Mortgagee shall be fully authorized to: (a) make or take action in such manner and to such extent as Mortgagee may deem necessary to protect the security hereof, Mortgagee being authorized to enter upon and take possession of the Collateral or any part thereof for such purposes; (b) commence, appear in and /or defend any action or proceeding purporting to affect the security provided by this Mortgage or the other Operative Agreements and /or any additional or other security therefor, or the interests, rights, powers and /or duties of Mortgagee hereunder whether brought by or against Mortgagor or Mortgagee; or (c) pay, purchase, contest or compromise any claim, debt, lien, charge or encumbrance which in the judgment of Mortgagee may affect or appear to affect the security of this Mortgage or the other Operative Agreements or Mortgagee's interest or fights, powers and duties hereunder or thereunder. The collection and /or receipt of income, rents, issues, profits and /or proceeds from the Collateral by Mortgagee or its agent or receiver, after declaration of default and commencement of foreclosure or other proceedings pursuant to this Mortgage, shall not affect or impair such default or declaration of default or election to cause the Collateral or any part thereof to be foreclosed or any proceedings relating to sale upon foreclosure, but such proceedings may be conducted and sale upon foreclosure effected notwithstanding the receipt and /or collection of any such income, rents, issues, profits and /or proceeds. Any such income, rents, issues, profits and /or proceeds in the possession of Mortgagee as agent or receiver at the time of sale and not previously applied shall be applied in the same manner and for the same purposes as the proceeds of such sale unless otherwise directed by a court having jurisdiction of the matter. Section 3.5 To the extent that this Mortgage covers both real and personal property, Mortgagee may at its option proceed as to both the real and personal property in accordance with Mortgagee's rights hereunder including enforcement by foreclosure and sale of the Collateral or any part thereof or may as to any fixtures or any personal property constituting a part of the Collateral proceed to exercise any and all rights provided under the Nebraska Uniform Commercial Code and such rights as are described in Sections 4.1 to 4.5 hereof. To the extent permitted by law, Mortgagee, at its option, may sell the Collateral or any part thereof in a single sale upon foreclosure including both real and personal property. 2000 MORTGAGE (Grand Island, Nebraska) 22