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<br /> ASSIGNIVIENT �F RENTS
<br /> Lvan Nv: ��'I�98�79 ���ntinued} Page 3
<br /> name ❑r in Grantar's nam�, �❑ rent and manage�he Praperty, including the cvllec�ian and app�ication of Rents.
<br /> �ther Ac�s. Lender may do all such other things and acts with respect to the Property as Lender may deem
<br /> apprapriats and may ac� ex��usi�ely and solely in the place and stead o� Grantor and �o ha�e all o�the powers o�
<br /> Grantor for the purposes s�a�ed abo�e.
<br /> No Requiremen�#o Act. Lender shall no� be required �v do any vf the faregoing acts o�-things, and the �act tha�
<br /> Lender shall ha�e perfarmed one or more ❑� the foregoing acts a� things shaEf nat require Lender to do any ❑�her
<br /> spe�ific act or thing.
<br /> APPL�CATI�N UF RENTS. All C�5#5 and expenses incurred by Lender in c�nnectivn wi�h the Praperty shall be for
<br /> Grantar's accvunt and Lender may pay such costs and expenses from the Ren�s. Lender, �n its sole discretion, sha�f
<br /> determine the application af any and afE Rsn�s rece�ved by it; howe�er, any such Rents recei�ed by Lender which are
<br /> nofi applied to suGh casts and expenses shail be app��ed to the Indebtedness. All expendi�ures made hy Lender unde�-
<br /> �his Assignmenfi and no�t reim�ursed from the Rents sha�l �ecvme a part of the lndeb�edness secu��d �y �his
<br /> Ass�gnment, and shall be payable an demand, with interest at the Nvte rate from date afi expenditure until pa�d.
<br /> FULL PERF�RMAN�E. If Grantar pays a[l of the Indebtedness when due and otherwise performs all the ❑bligatians
<br /> imposed upon Gran�or under this Assignment, the Nate, and the Related Dacuments, Lender shal! execute and deli�er to
<br /> Grantor a suitable satis�action of�his Ass�gnment and suitable statemen�s ❑f�erminativn ❑� any financing statemen�❑n
<br /> �ile evidencing Lender's security interest in �he Rents and the Properfiy. Any terminatian f�e requi�-ed by �aw shail be
<br /> paid by Grantor, if permitted by applica�le law.
<br /> LENDER'S EXPENDITURES. !f any action or proceeding is cammenced that woufd materially afi�ect Lender's in�erest in
<br /> the Proper�y ❑r i�Grantor fails to comply wi�h any p�o�ision vf th�s Assi�nmen#vr any Related Do�uments, inc�uding bu�
<br /> not Eimi�ed t❑ Grantor's �ailure�o discharge vr pay when due any amvun�s Grantor is required tv discharge or pay under
<br /> this Assignment or any Related Dvcumen�s, Lender an Grantor's behalf may �but sha�� nflt b� ❑bli�a��d to} take any
<br /> a�tion �hat Lender deems approprFate, including bu� not limited t❑ discharging vr paying all taxes, liens, security
<br /> interests, encumbrances and ❑ther claims, at any time le�ied ❑r placed ❑n�he Rents or the Proper�y and paying all costs
<br /> far insuring, maintaining and preserving the Praper�y. A[I such expendi�ures incurred ❑� paid by Lender ��r such
<br /> pu�-pvses will �hen bear �nfierest at the ra�e �harged under the Nvte from the date incurred ar paid by Lender to�hs date
<br /> �� repayment by Grantvr. All such expenses wil! be�ome a part af the �ndebtedness and, at Lende�'s opfiian, will �A�
<br /> be payable on demand; tg} be added ta the bafance ot�he Nvte and be appvrtioned among and be payabEe with any
<br /> ins�alEment payments tv bec�me du� during ei�her ��y the fierm vf any applicab�e insu�ance policy; ❑r {2} �he
<br /> remain�ng term o� �he Nvte; or {C� be trea��d as a halloon payment which will be due and payable at the Note's
<br /> maturity. The Assignment alsa wiEi secure payment at�hese amounts. 5uch right shall be in addition t❑ a�E other rights
<br /> and remedies t❑ which Lender may 1ae�ntitled upvn ❑e�ault.
<br /> DEFAULT. Each v��he fallowing, at L�nder's ❑ptian, shall canstitute an E�en�of Defaul�under�his Assignment:
<br /> Payment Default. Gran�or�ails t❑ make any paymen�when due unde�the lndehtedness.
<br /> �ther DefauEts. G�an�or �ails tv comply with or �❑ per#orm any �ther term, flbligation, cv�enant ❑r condition
<br /> contained in th�s Assignmen� vr �n any �� the Related Dvcuments or ta cvmply wi�h or to perfvrm any term,
<br /> ob[igativn, co�enan�or condi�ion contained in any other agreement be�ween Lender and Gran�vr.
<br /> De�aul� on �ther Paym�nts. Failure ❑f G�antor within the �ime required by thEs Assi�nment tfl make any payment
<br /> fvr taxes or insurance, or any vther payment necessary t❑ pre�ent filing ot or t❑e��ect discharge o�any lien,
<br /> Fa�se 5ta�ements. Any warranty, representat�vn or sta�ement made ar fu�nished to Lender by G�antor vr on
<br /> Gran�vr's behalf under �his Assignment ar th� Rela��d Dacumen�s is false ar misleading in any material respec�,
<br /> either now ❑r at the time made or furnished vr becomes false�r mislead�ng af any time thereaf�e�-.
<br /> De�e�tive Callateraiizativn. This Assignment ar any of the Rela�ed ❑ocuments ceases #o be in fiufl force and e�fe�t
<br /> tincluding failure��any callafieral document to crea�e a �a[id and perfected security interest o� f ien} at any�ime and
<br /> �or any reason.
<br /> Death ar Insolvency. The death of Gran�vr, the insol�en�y af Grantor, �he app�in�ment of a receiWer fvr any part v#
<br /> Grantvr's property, any ass�gnment for the benefit of �redEtvrs, any �ype vf creditvr wo�-I�vut, ❑r the
<br /> cvmmen�ement of any proceeding under any i�ankruptcy a�-insol�ency laws by ar against Gran�vr.
<br /> C�edt#ar ar Forfeiture Proceed�ngs. Commencement of fvreclosure vr forfeiture proceedings, whethe� by �udicial
<br /> praceeding, sel�-help, repossession ar any other me�hvd, by any�reditor of Gran�or o�r by any go�ernmental agency
<br /> agains� the Rents vr any property securing the Indeb#edness. This inc�udes a garnishment vf any vf Granfior's
<br /> a�caunts, �ncludEng depasit accounts, w�th Lender. Hawe�er, this E�ent of Detau�t shall not appiy i� th�re is a
<br /> gavd fai�h dispu�e by Grantvr as to �he validity or reasonab�eness af the claim v+rhich is the basis v�the creditor❑r
<br /> �Forfei�ure proceeding and if Grantor gt�es Lender wr-itten notice of the credi�or or forfieiture prvc�edin� and deposi�s
<br /> with Lender monies vr a surety band �or the creditor or�o�-fei�ure proceeding, in an amoun�de�ermined by Lenderr
<br /> in its sv[e discretian, as being an adequate reser�e ar bond ��r the dispu�e.
<br /> Prvperty i]amage or Loss. The Property is Ivst, stalen, substan�ially damaged, sold, �r borrowed against.
<br /> E�ents Affrecting Guaranfvr. Any of�he preceding e�ents vccurs with respect t� any guaranfior, endorser, surety,
<br /> or accvmmodation pa�ty ❑f any of the Fndebtedness flr any guarantor, endvrser, surety, ar accvmmoda�ion party
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