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2� 1 ��4994 ASSIGNMENT �F RENTS Loan No: 'I Q'I 2973'i'i ��ontinuedj Page � GRANTDR'S REPRESENTATIQNS AND WARRANTIES. Grantar warrants that: Dwnership. Grant�r is entitled t❑ recei�e the Rents �ree and clear ❑f all rights, Ioans, liens, encumbrances, and claims �xcept as disclos�d t� and accepted �y Lender in writing. Right to Assign. Grantor has the full ri�ht, power and authority to enter inta this Assignment and ta assign and �on�ey the Rents ta Lender. No Prior Assignment. Grantor has nvt pr��iously assigned or con�eyed the Rents to any other p�rson by any instrument nvw in force. No Further Transfer. Grantor wi�� nvt seil, assign, encumber, or atherwise dispose of any ❑f Grantor's t��ghts in the R�nts except as pro�ided in this Assignment. LENDER'S RIGHT T�3 RE�EIVE AN❑ C�LLECT RENTS. Lender sha!! ha�e the right at any time, and ��en though nv default shall ha�e accurred under this Assignment, to �olle�t and recei�e the Rents. F�r this purpvse, Lender is hereby gi�en and grante�the fallowing rights, powers and authority: Notice to Tenants. Lender may send notices to any and all tenants ❑f the Praperty ad�ising them of this Assignmen# and directing all Rents t❑ be paid directly�a Lendet�or Lender's agent. Enter the Property. Lender may ent�r upvn and take passession of the Property; demand, calle�t and recei�e fr�m the tenants or frvm any vther persvns liable therefo�, aii of th� Rents; insti�ute and �arry �n al! fega� proceedings necessary for the pr�tection fl� the Praperty, includin� such proceedings as may be neGessary to reco�er possession ofi the Property; collect the Rents and remoWe any tenant❑r tenants ar❑ther pefsvns fr�m the Praperty. IVlaintain the Praperty. Lender may enter upon the Praperty t❑ maintain the Praperty and keep the same in repair; to pay the casts thereot and ❑f aEi ser�ices v# all emplayees, inc�uding their equipment, and of all cantinuing costs and expenses af maintaining th� Property in proper repair and condition, and alsa t❑ pay all taxes, assessments and water utilities, and the premiums on fire and other�nsurance effected �y Lender on �he Property. Compliance with Laws. Lender may da any and all things to execute and comply with the laws ❑f the 5tate of Ne#�raska and a(so afl ather laws, ruies, orders, ardinan�es and r�quirements �f all other go�ernmental agencies affecting the Property. Lease the Praper#y. Lender may rent❑r lease the whvle or any part of�he Praperty far such term ❑r terms and an such conditions as Lender may deem appropriate. Employ Agents. Lender may enga�e such agent or agents as Lender may deem appropriate, either in Lender's name ❑r in Grantor's name, t❑ rent and manage the Property, including the Gvllection and applicati�n of Rents. (3ther Acts. Lender may da all such ather things and acts w�th respec# to the Property as Lender may deem apprapriate and may act exclusi�ely and solely in the place and stead flf Grantor and to ha�e all of the powers ❑# Grantar for the purposes stated abo�e. No Requirement to Act. Lender shall not be re�uired to dfl any ❑f the foregoing acts or things, and the fac� that Lender shali ha�e performed ❑ne or more of the foregaing acts �r �hings shall not require Lender to da any other specific act❑r th�ng. APPLICATI�N QF RENTS. All costs and exp�nses in�urred by Lender in cannect�on with the Praperty shall be for Grantor's account and Lender may pay such costs and expenses trvm the Ren�s. Lender, in its s�l� discretian, shall determine the applicatian ❑f any and all Rents re��i�ed by it; hvwe�er, any such Rents recei�ed by Lender which are not applied ta such costs and expens�s shall be applied to the Indebtedness. All expenditures made by Lender under this Assignment and not reimbursed fr�m the Rents shall becam� a part ❑f the Indebtedness secured by this Assignment, and shall be payahle on demand, with #nterest at the Note rate from date ❑f expenditure until paid. FULL PERF�RMANCE. If Grantor pays all of the Indebtedness when due and o�herwise perfa�ms all the abligations impased upon Grantor under this Assignment, the Nate, and the Related Documents, Lender shaEl execute and defi�er ta �rantor a suitab�e satisfaction ❑f this Ass�gnment and suitable statements of t�rminativn of any finan�ing statement ❑n file e�idencing Lender's security interest in the Rents and the Property. Any termination fee required by law sha�l be pa�d #�y Grantor, if permitted by applicab�e law. LENDER'S EXPENDITURES. If any actinn nr proceeding is cammen�ed that wauld materia�ly affect Lender's interest in the Praperty ❑r�f Grantor fails to comply with any pro�ision❑f this Assignment or any Related D�cumen�s, inciuding but not limited tv Grantor's failure ta discharg� �r pay when due any amounts Grantor is required to discharg� �r pay under th�s Assignment or any Related Documents, Lender an Gran�or's ��half may {but shall not be obligated to} take any a�tion that Lender deems apprapriats, in�luding but not limited to discharging ar paying all taxes, liens, security interes�s, encumbrances and other Glaims, at any time le�ied ❑r placed on the Rents or the Property and paying all c�s�s for insuring, maintaining and preser�ing the Property. A�! su�h expenditures in�urred or paid by Lender for su�h purposes w�� then bear interest at the rate charged under the N�ts fr�m the date incurred or paid by Lender t❑ the date �f repayment by Grant�r. A!I such exp�nses will be�ome a part of the �nd�btedness and, at Lender's option, will �A} be payable vn demand; �B� be added ta the balance o� the Nate and be appartioned among and �e payable with any installment payments t❑ became due during either �1� th� �erm vf any applicable insurance policy; or 4�y the r�maining term of the N�te; or �C� be treared as a ballvon payment which wiii b� due and payable at th� Nate's maturity. The Assignment alsv wiil se�ure payment af th�se amvun�s. Such right sha�l be in addition t❑ a!I ather rights