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2� 1 ���381
<br /> ASS[�IVMENT C]F REIVTS
<br /> Loan �fo: 35��39�79 [C�ntinued] Pag� 2
<br /> Nvtice #o Tenants. Lender may send natices to any and a[l tenan#s of the �'rop�rty ad�ising them of this
<br /> Assignment and directing a11 Ren#s tv be paid dir�ctiy ta Lender or Lender's agent.
<br /> En�er the Prvperty. Lender may enter upon and take passession vf the Property;demand, collec�and rec�i�e fram
<br /> the t�nants or frvm any ather persans [iable there�ar, a[[of#he Ren#s; insti#ute and carry on ail legal praceedings
<br /> necessary �or the pro�e�ivn of the Prop�rty, including such proc�edings as may be ne�essary to recn�er
<br /> p�ssession a�the Property;�oliect the Rents and rem��e any tenant or tenants or other persons from�he Property.
<br /> Main#ain the Property. Lender may enter upon the Property to maintain the Prvperty and keep#he same in repair;
<br /> to pay th�casts thereaf and of a!I se�vices af a!1 employees, including their equipment, and of all cantinuing costs
<br /> and expenses of maintaining the Proper�y in proper repair and candi�ion, and a[sv tv pay a[C taxes,assessments and
<br /> water utilities, and the premiums on fire and other insurance effected by Lender on'the Prvperty.
<br /> Compliance with Laws. Lender may dv any and aII things�o execute and c�mp[y with the [aws of the State of
<br /> Nebraska and also a[[ other [aws, rules, orders, ordinances and requirements af all other go�ernmentaC agencies
<br /> affecting the Praperty.
<br /> Lease the Property. L�nder may rent or lease the whole or any pa�t o�the Praper�y for such term vr terms and an
<br /> such conditions as Lender may d�em appropriate.
<br /> Emp[oy Agen�s. Lender may engage such agent �r agents as Lender may deem apprapriate, either in Lender's
<br /> name vr in Grantor's name,ta rent and manage the Praperty, including ths collectian and app[ication af Rents.
<br /> C��her Acts. Lender may do all such other things and acts with respect ta �he Proper�y as Lender may deem
<br /> apprvpriate and may act exclusi�ely and solely in the p[a�e and stead of Grantor and to ha�e a[I v�fihe pawers af
<br /> Grantor�ar the purposes stated aba�e.
<br /> No Requirement tv Act. Lender shall nvt be requir�d�o do any af the fore�oing acts or things, and the fac�t�hat
<br /> Lender shall ha�e perFarmed one or more of the f�r��oing acts �r�things shall not require Lend�r tv da any vther
<br /> specific a�t❑r thing.
<br /> APPLICATIDN �F RENTS. A[[ costs and expenses incurred by L�nder in �onnection with th� Property shal[ be for
<br /> �ran�or's account and Lender may pay such costs and expenses from the F�en#s. Lender, in i�ts sole discretion, shalE
<br /> determine the applicativn o�F any and all Rents recei�ed hy it; hawe��r, any such Rents recei�ed by Lender which are
<br /> nvt app�ied to such costs and expenses shaI! be appiied to the Indebtedness. A!1 expendi#ures made by Lender under
<br /> this Assignmen# and not reim�ursed fram the Rents shall become a part of the Indebt�dn�ss secured by this
<br /> Assi�nment, and shall be payable on demand, with interest at the Nate rate from date of expenditure un�i[paid.
<br /> FIJLL PERFaRMANCE. lf Gran�vr pays aIl of the [ndebtedness wh�n due and o�herwise perFarms aCl the vbligations
<br /> imposed upan Grantar unde�-this Assignment,the Nflte, and the Relat�d Dvcuments, Lender sha[I�xecu#e and de[i�er ta
<br /> Grantor a suitable sa�tisfac�ian o�F�h�s Assi�nment and sui�ab[e statements of terminat'ron af any fnan�ing statement on
<br /> �ile e�idencing Lender's securi#y interest in the Ren�s and the Pr�perty. Any termination fee required by law shall be
<br /> paid by Grantor, �f p�rmitted by app[icable Iaw.
<br /> LENDER'S EXPENDITURES. ��any ac�ion flr proceeding is commenced tha�w�u[d mater"ra[ly affeGt Lender's int�r�st in
<br /> the Praperty or�f Grantor fai[s ta comply with any pro�ision of�his Assignment or any Re[ated Documents, inciuding but
<br /> not limited tv�rantor's failure to discharge or pay when due any amounts Grantor is required to discharge ar pay under
<br /> this Assignment or any R�lated Documents, Lender on Grantflr's behalf may tbut shall nat he �bligated �o}take any
<br /> action that Lender deems apprflpriate, including but not limi�ed to discharging or paying all taxes, liens, security
<br /> interes�s,encumbrances and o�her claims,at any time le�ied or p[aced c�n the R�nts or#he Prop�rty and paying a[I costs
<br /> for insuring, maintaining and prese�ving the Proper-ty. A[� such expendi#ures �ncurred ar paid by Lender fvr su�h
<br /> purpases will then bear interest at the rate charged under the Note from the date incurred ar paid by Lender�a th�date
<br /> of repayment by Grantnr. All such expenses wili b�come a par�of the lndebtedness and, at Lender's option, will �A}
<br /> be payable vn demand; (B} be added to�he ha[ance of th� N�te and be apportioned amang and be payable wrth any
<br /> installment payments to become due during either �1} the term of any applicable insurance policy; vr �2} the
<br /> remaining term o�the Note; ar �C} be treated as a halloon payment which will �e due and payable at �h� No��'s
<br /> maturity. The Assignment also will secure payment of these amvunts. Such right sha[[be in addition tv a[I other ri�hts
<br /> and remedies t�which Lender may be entit[ed upan Defauft.
<br /> DEFAULT. Each of the fo[lowing, at Lender's option,shail canstitute an E�ent of Default under fhis Assignmen�:
<br /> Pa�ment Defau�#. Gran#vr fails to make any payment when due under the [ndebtedness.
<br /> Uther Defaul#s. Grantvr fails to comply with or to perfvrm any other term, obligatian, co�enant or canditivn
<br /> car�tained in this Assignment or in any of the Related Documents vr to comply wi#h or to perform any term,
<br /> ob[igation,c��enant or condition cantained in any other agr�ement between Lender and�rantor.
<br /> Defiaul#on Uther Paymen�s. Failure af Gran�ar within the#ime required by this Assrgnment to make any payment
<br /> for taxes or insurance,or any other payment necessary to pre�ent fiiing of or to ef€�ct discharge of any 1ien.
<br /> Default in Favvr vf Third Parties. Any guarantar ar�rantor defauIts under any 6aan, extension af c�edit, security
<br /> agr��ment, purchase ar sales agreement,vr any other agreement, in fa�or of any a�her creditor or persan tha�may
<br /> ma�teria[ly aff�c�any of any guarantar's or Grantor's property ar abili�ty to perform their respecti�e�b[igations under
<br /> this Assignment ar any of the Related Documents.
<br /> Envir�nmental Defau�t. Fai[ure of any party to comply with or pertarm when due any term, abligation, co�enant vr
<br /> condi�ion contained in any en�nironmenta!agreement executed in connection with�he Prcrperty.
<br /> False 5ta�temen�s. Any warran�y, representatian ar statement made or furnished ta L�nder by Grantor or an
<br /> Gr�ntor's behalf und�r this Assignment or the Related Documents is fa[se nr mis[eading in any material respect,
<br /> either now or at�he time made ar furnished or becomes false ar misleading at any time thereaiter.
<br /> aefecti��Ca�lateraliza�ion. This Assignment or any of t�e F�elated Dacuments ceases to be in full farce and effect
<br /> �including�ailure vf any co[Iateral document to create a�a[id and perfe�ted security interes�o�lien}at any�ime and
<br /> �or any reason.
<br /> Dea�h ar lnso��ency. The dissolutian or termination of Grantor's existence as a g�ing business or the death of any
<br /> partner, the insoi�ency of Grantor, th� appvintment of a recei�er far any part o# Grantor's praperty, any
<br /> assignm�nt fc�r the benefit af creditars, any type of creditor workvut, ar the cvmmencement �f any proceeding
<br /> under any bankrup�cy ar insoi�ency iaws by or against Grantvr.
<br /> Cre�fitor vr For��iture Proceedin�s. Commencement of fvreclosure ar fvrfeiture prac�edings, wh�#her by judicia!
<br /> proceeding,self-h�[p, repossession or any other me�hod, by any creditor a�Grantor or by any governm�n�a[agency
<br /> a�ains�the Rents ar any property securing the lndebtedness. This includes a garnishment of any of Grantor's
<br /> accaunts, including depasit accounts, wi�h Lender. Howe�er, �his E�en� vf Default shai! not apply 'rf there is a
<br /> goad�aith dispute by Grantor as to�he�alidity vr reasona.hieness ofi th�claim which is the�asis af the Gr�ditor ar
<br /> forfeiture prviceeding and if Gran#vr gi�es Lend�r written natice of th�creditor�r forfeiture praceeding and dep�sits
<br /> with Lender monies or a surety bond fvr the creditor or forFei�ure praceeding, in an amount determined by Lender,
<br /> in its svle discretion,as being an adequa�e reserve or bond�or�he dispute.
<br /> Proper�y Damage or Lvss, The Property is lvs�, stolen,substantially damac�ed,so[d,ar horr�wed against.
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