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2� 1 ��5533
<br /> ASSMGNMENT �F RENTS
<br /> �C�n#�n U�d} . Page �
<br /> pvssessivn of the Property;callect the Rents and remo�e any tenant.❑r tenants vr ather pers�ns frarn the Prope�y.
<br /> Main�ain the Pr�perty. Lender may en�er upon the Proper�y to maintain the Property and keep the same in r�pair;
<br /> tQ pay�he Gasts �hereo�and o�aEl services af a[1 empfoye�s, includ�ng their equipment, and of a�l con�inu�ng cos�s
<br /> and expens��of maintaining the Prope�#y in p�-�per repa�r and condi�ivn,and also to pay a�l taxes,assessmen�s and
<br /> wa�er u�ilities,and the premsums on f��-e and other insurance effected by Lende�-o�n the Property. .
<br /> � Cvmp��ance with Laws, Lender may do any and all things to execute and compEy with th� laws vf the State of
<br /> Neb�aska and alsa all o�her lavsrs, �-ules, orde�-s, ard3nances and requiremen�s of a�l o�her g��ernmental agenc�es
<br /> affecting the Prvperty.
<br /> Lease the Pr�perty. Lender may rent or Iease the v►rhole vr any part�f�he Property�for such �erm or terms and on
<br /> such canditions as Lender may deem appropriate.
<br /> Emp[oy Agents. Lender may �ngage such agent or agen�s as Lende� may deem apprvp�iate, either in Lender's �
<br /> name or in Grantar's name,ta rent and manage the Property,including�he collec�ian and appfica�ivn of Rents.
<br /> O#her AG�S. Lender may do alf such ofher things and acts wi�h respect tv the Property as Lender may deem
<br /> apprvpriate and may act exclusi�ely and so�ely �n �he place an� stead of�rantvr and to have a�l af the pawers a�
<br /> �rant�r�or the purpvses stated abo�e.
<br /> No Requirement�a Ac#. Lender shal� not b� required to da any;❑f#he �oregoing acts �r�hings, and the fa�t that
<br /> Lender shall ha�e performed �ne ❑r more af the �oregoing ac�s ar things sha[� nat require Lender to do any other
<br /> specific ac�or thing.
<br /> APPLICATIaN �F RENTS. All costs and �xpenses incurred f�y Lender in connec�ion with the Prvperly shall be for
<br /> Grantvr's account and Lender may pay such cos�s and expenses��-vm the Rents. Lender, in its sale disc�etion, shall
<br /> determine the app�ication vf any and alE Rents re�ei�ed by it; howe�er, any such Rents recei�ed by Lender which are
<br /> no� applied�o such cos�s and expenses shall be applied �o�he �ndeb�edness. All expenditures made by L�nder under
<br /> this Assignment and no� reimbursed from �he Rents shall become a part v� �he Indebtedness secured by �his
<br /> Assignment, and shall be payable an demand,with �n�e��st a�the No�e r�ate from dat�af expenditure un�i[paid.
<br /> FULL PERFORMANCE. 1� �rantor pays al� o�the lndebtedness when due and v�herwise perfarms all the obfigations �
<br /> impvsed upon�ran�or under this Assignment,the Note;and�he Reiated D�cuments, Lender shal!execute and del�ver to
<br /> Grantar a suitable sa�isfaction o�th;s Assignment and suitable statemenfis of�ermination vf any fnan��ng statement on
<br /> fi l e e�idenci ng Lender's se�u riiy�nteresfi i n the RenirS and the Property. Any�ermi nation fee requi red by I aw shall t�e
<br /> paid by Grantor, if permitted by a�plicable law.
<br /> � LENaER'S 1E�CPENI][TURES. If any action or proceed�ng�s commenced�hat wvuld material[y affect Lender's interes�in
<br /> the Prope�ty or if Granfv�-fails tv comp�y with any pra��s�an vf this Assignmen�o�-any Relafed Dacuments, includ�ng but
<br /> no�limited ta Gran�o�'s failure ta discharge or pay when due any amaunts Gran�ar is required#o d�scharge or pay under
<br /> this Assignment or any Related Dvcum�nts,�Lender on �ran�vr's behalf may (but shall no� be abligated to} �ake any
<br /> a�ion that Lende� deems appropria�e, inc�uding bufi not limited to discharging ar paying al[ #axes, liens, security
<br /> interests,encumbrances and v�her�laims,at any time�e�ied or placed�n the Rents or the Property and paying al�casts
<br /> for insuring, maintaining and preserving the Property. AII such expenditures incurred or paid by Lender for suGh
<br /> purposes will then bear interest a��he rate charged under the�l�te frnm the date�ncurred or paid by Lender to fhe date
<br /> af repaymen�by Grantor. AII such expens�will becQme a pa�af the lndeb�edness and, a�Lender's opti�n, wi�l �A}
<br /> be payab�e on demand; �B} be added fia�he balanoe of the I�o�e and be appar�ioned among and be payable with arty �
<br /> ins�allmen� paymen�s to become due during either t1} the �erm o� any app�icabl� insurance palicy; ar �2} �h�
<br /> remaining term af �he No�e; or �C} he treated as a balloon paymen� which wil� be due and payable a� the h�ote's
<br /> maturi�y. The Assignmen�also wil� secure payment of�h�se amounts. Such right shall be in additian�❑all.ofher rights
<br /> and rem�ed�es t�wh i ch Lender may be�ntitl ed upon De�au It.
<br /> DEFAULT. Each❑f�he fallvwing,at Lender's vption, shafi�onsti#u�e an Even�o�❑�fault under�his Assignment:
<br /> Payment De#ault. Gran�or fai[s ta make any payment when due under the Indebtedness.
<br /> �ther De�aults. Gran�a�- fa�ls �o comply with or tv perform any vther term, �bligativn, ca�enant vr condi�ivn
<br /> contained in this Assignment ❑r in any of the R�lated ❑a�uments or to �omply w�th or �a perfarm any term,
<br /> ob�igation, ca��nant ar condi�ion contained in any other a�reemen�between Lender and Gran�vr.
<br /> Default on ��her Paymen�s. Failure Q�Grantor within the t�me r�quired by fihis Assignment tv make any paymen�
<br /> for#axes or insuran�e, ar any v�her paymen�necessary�a �revent fiiling o�or ta e��ect discharge o�any lien.
<br /> Default in Fa�a� of Third parties. Granfior defaults under any Ivan, ex�ension ❑f Cr�dit, s��urity agreemen�,
<br /> purchase❑r sales agreemen�, �r any o�her agreement, �n �a�or af any v�her cred�fior ar person tha�may ma�erially �
<br /> affe�� any vf Gran�ar's property or ability to perfiorm �rantar's abligatians under�his As�ignment or any of the
<br /> Related D�cumen�s. �
<br /> False S�atements. Any warranty, repr�sentation or sta�ement made vr furnished �o Lender hy Grantar or on
<br /> �rantar's behalf under this Assignmen� ar the Related Dacuments is�alse or misfeading in any ma�eria� respec�,
<br /> ei�her naw or at the time made❑r#urnished vr becomes fa�se or misleading a�any time�hereaiter.
<br /> �3efecfi'r�e�vllatera[iza#ion. This Assignment vr any af�he Re�ated [7acuments ceases to b�in full force and effe�t
<br /> (inciuding failure of any callafieral document ta create a�alid and perFected securi#y inter�st or lien}at any time and
<br /> fo�any rea�vn.
<br /> Death or lnsol�ency. The death o���-antor,�he insvlvency of Gran#vr,�he appointm�nt of a recei�er�o�any part of
<br /> Gran�or's properky, any assignment for �he henefiit of creditars, any �ype a� creditor workou�, or �he
<br /> cvmmencement of any prviceeding und�r any hankrup�cy or insofvency laws by or ag�inst G�antQr.
<br /> �reditar or Fvrfe�ture Proceedings. Gommen�emen� of foreclasure or forfeiture proceedings, whether �y�udicia!
<br /> proceeding,self-help, reposs�ssiqn ar any other me�hod,by any creditor��Grantor or by any g��ernmental agency
<br /> agafnst the Ren�s or any property securing �he �ndebt�dness. This includes a garnishmen� flf any of Granfior"s
<br /> accounts, includ�ng deposit accounts, wi�h Lende�. Hav►re�er, this Event of Default shall not apply if �here �s a
<br /> goad faith d�spute by ��anfar as to the�alid�ty or reasanabfeness vf the claim which is the basis of#he credit�r ar
<br /> fortei�ure proGeeding and�f�ran�ar gives Lender writ�en nvtice�f the�reditor or�orf�i�ure prviceedin�and deposits
<br /> with Lender manies or a surety bond far fihe c�edit�r or�orFeiture proceeding, in an amount determined by Lende�,
<br /> in its so�e discretion,as being an adequate reser�e ar bond far�he dispu�e. ,
<br /> Praper#y�amage or Loss. The Properky is lostr StDI@Cl,subs�antialfy damag,ed,s�ld, or bor�owed agains�.
<br /> EWents Affec�ing �uarantor. Any of�he preceding e�ents occurs with respect to any guarantor, endorser, �ure�y,
<br /> vr acc�mmada�ion party af any flf the lndeb�edness ar any guarantor7 endorser, sur�ty, vr accQmmoda#ion party
<br /> dies or becomes �ncvmpetent, ar revokes ❑r disputes ��e va�idi�y af, or lia�ility under, any �uaran�y of �h�
<br /> lndebt�dness.
<br /> Adverse Change. A material ad�erse �hange oc�urs in Grantor's fnancial condition, or Lender belie�es �h�
<br /> praspe�t vf payment or p�rformanoe a�F th�Indebtedness is impaired.
<br /> lnsecur�ty. Lender in good faith beii�ves itself insecure.
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