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2� 1 ���87�
<br /> ��s������u�' �� �����
<br /> .
<br /> ���r�t��ued� ���� �.
<br /> not cons'�i�u�e Lender's consen�ta�he use af cash Golla�eral in a bankruptcy proceed4ng.
<br /> �RANT�R'S F�EPRESENTA�Tl�NS AND VIIAF�RANTIES. Grant�r warran�s that:
<br /> �wnershsp. Gran�or fs en�itled to �-ecei�e�he Rents f�ee and c�ear of al� righfis, l�ans, liens, encumbrances, and
<br /> claims ex�ep�as disclosed�v and accep�ed by Lender in wri�ing.
<br /> Right to Assign. Grantor has�he fu[l righ�, power and aufiho�ity�a en�er in�a�his Ass�gnment and to assign and
<br /> convey�he Rents�a Lender.
<br /> No Pr�or Assignmen�. Grantor has no� previously assigned ❑� �on�eyed the Rents to any ather person by any
<br /> instrumen�nvw in farce.
<br /> No Further Transfer. �ran�or wi[1 no�seli,assign,encumber,or otheE-w�se dispose v�any af Grantor's rights in�he
<br /> R�nts exc�p�as pro�ided in�his Assignmen�.
<br /> LENDER'S RIGHT T� RECE�VE O�ND �DLLECT �E�TS. Lender sha�l ha�e �he r�gh�a� any�ime, and e�en �hvugh no
<br /> defaui�sha11 have occurred under this Assignmen�, to co�lect and �ecei�e�he Rents. For�his purpase, Lende�is hereby
<br /> �iven and gran-�ed�he fafiowing righfs, po�rvers and au�thority:
<br /> Nvtice �o Tenan�s. Lender may send nv�i�es to any and a�f �enan�s a� the Proper�y adv�sing them of this
<br /> Assignment and d��ecting all R�nts�o be�aid d'ire�tiy ta Lender or Lender's agen�.
<br /> Enter�he Praper�y. Lend�r may enter upon and�ake possessson of�he�rop�rty; demand, collec�and rece��e�r�m
<br /> �he�tenan�s ar�rom any ofiher persons [iable therefar, a�I of�he �R�nts; institute and �arry on al[ legal proceedings
<br /> necessary fvr �he pro�ecfiion a� �he Property, in�ludi`ng such pr�ceedings as may be necessary tn reco��r
<br /> p�ssession af�he Property;collect�he Ren�s and remo�e any�enant or�enan�s ar v�her persons from the Proper�y_
<br /> lltla�n'�ain�he Prop�r�y. Lender may enter upan the P�operty�o maintain the Property and keep the same in repa�r;
<br /> tv pay the costs thereo�and of all services of al! employees, including�heir equipment, and o�all cont�nuing cos�s
<br /> and expens�s af maintaining fhe Praper�y in proper repair and candi�ion, and alsa�a pay al��axes,assessmen�s and
<br /> wa�er u�ilEties,and�he p�emiums on f re and other insurance e�Fected by Lender on the Proper�y.
<br /> Cvmpliance with Laws. L�nder may da any and aIl things to exe�u�e and carnp�y wi�h �he lajrvs vf�he S�a�e af
<br /> Nebraska and also al[ athe�- laws, rules, ord�rs; vrd�nances and requiremenfis of a�l o�he�governmental agencies
<br /> afFecting�he Property.
<br /> Lease�he Proper�y. Lender may ren�or lease fihe r�vhvle or any pa�af�he Praperty fvr such term�r terms and on
<br /> such cvndif'rons as Lender may deem approp�a�e.
<br /> IEmpIoy Agents. Lenc�er may �ngage such agen�or agents as L�nder may deem appropriate, either in L�nder's
<br /> name vr in G�an�or's name,tv rent and manage#he Property,inc[uding the�vllec�ion and appli�at�on o�Rents.
<br /> ��her �cts. Lender may d� al� such ��her things and ac�s with respec� �o the Praperty as Lender may deem
<br /> apprapriate and may act exclusi�ely and solely in the pface and stead of Grantflr and�o ha�e al� vf�he pvv�rers of
<br /> Granfor for the purposes stated abo�e.
<br /> No R�quiremen�to Act. Lender shall not be requi�ed to da any o�the fnrego�ng ac�s or things, and the fac�'�ha�
<br /> Lender shal[ ha�e perfarmed one or more n�the faregoing ac�s ar�hings sha�� not require Lender�o do any other
<br /> spec�fc ac�ar fhing.
<br /> APPL�CATI�N �F RENTS. A[[ costs and expenses in�urred by Lender in cvnnec�ivn wi�h �he Property shal[ be �or
<br /> Gran�a�'s accauni�and Lender rnay pay suGh costs and expenses fram �he Rents. Lender, in �ts so�e disc�e��vnr shall
<br /> de�ermine�he application o�any and al[ Ren�s r��ei�ed �y i�, haweiiers any such l�en�s recei�ed by Lender which are
<br /> not app[�ed �a such cos�s and expenses sha[f be app�i�d t��he �ndeb�edness. All expendi�ures made by Lender unde�-
<br /> �his Assignmen� and n�� reimbursed from �he Rents shall became a par� of �he lndebfiedness se�ured by �his
<br /> Assignmen�,and shall be payab�e on demand,wi�h interest a��he No�e rate fram da�e of expenditure un�il paid.
<br /> FULL PE�FDIR�liANGE, If G�antor pays all of�he Indebtedness when due and o�he�►nr�se per��rms all fhe obligations
<br /> imposed upon�ran�or under�his Assignment,�h�hlo�e,and the Re[a�ed Documents, L�nder shalC execu�e and deliver�v
<br /> Grantor a sui'�able sai�isfaGtion of�his Assignmeni�and suitable s�a�emen�s of termina�i�n o�any financing sta�emen�on
<br /> fiie e�idencin� Lender's se�urity�nferest in �he Ren�s and�he Property. Any�erminatian fee required by �av+r shall be
<br /> paid by Granfvr,if permitted by appficab[e[aw.
<br /> L1END�F�'S E�CREND�TURES. !f any ac�ian or proceed�ng is cammenced tha�would materially affec�Lender's interes��n
<br /> the Property ar if Grantor fai�s�o camply with any pro�ision af this Assignment or any Re[a�ed Documen�s,includin� bu�
<br /> nvt limited tv Gran�ar's faiiure�o discharg�or pay when du�any amounts Grantor�s required fia disc�arge ar pay under
<br /> this Assignment or any Re[ated Documents, Lender on Gran�or'� behalf may �bu� shall not be obligated to}�aKe any
<br /> action �hat Lender deer�ns appropria�e, in�luding bu� nv� iimi�ed ta discha�ging or paying al� �axes, �iens, secur��y
<br /> in�erests,encumbrances and other claims,at any�ime[ev�ed vr p[aced on�he R�n�s or the P�roperty and paying a!1 cosfs
<br /> for insuring, ma�n�aining and preserving �he Prvperty. All such expenditures incurred or paid by Lender for such
<br /> purposes wi[i then bear�n�e�est at�he rate cha�ged unaer�he fVote�rom�he date incurred or paid by Lender��the date
<br /> af repayment by Gran�or. A�� such expenses wi�[ become a part vf�he Indebtedness and, a�Lender's op�ion, wi�� �A}
<br /> be payab�e on demand; {B} be added�o�he bafan�e of�he Note and be appor�i�ned among and be payab�e rrv��h any
<br /> ins�a[�men� paymen�s �o become due durin_g ei�her �'i} �he te�m of any applicab�e insurance po�icy; �r ��} the
<br /> remaining term of�he Nfl�e, �r ��} be �rea�ed as a ba�[oon paym�nt which will be due and payab�e a� the Nate's
<br /> ma�urity_ The Assignment a�sv wEl�secure payment af these am�un'�s. Such righ�sha11 be in add€�i�n fa a[1 vth�r r�ghfis
<br /> and remedi�s ta whf�h Lender may be en��tied upon CJefauI�.
<br /> DEF�4ULT. Each of the fo[[vwing, a�Lender's vp�ion,sha11 cans��tute an E�ent o�C]e�FauI�under�his Assignmen�:
<br /> Paymen�Defau��. Bnrrower�aiIs to make any paymenfi�rvhen due under�he Indebtedness.
<br /> fl�her Def�ults. B�rrorrver o� Grantor�ails �o comply wi�h or�o pe�farm any other fierm, abligaitian, co�enan�t o�
<br /> cond��i�n contained in�his Assignmenf o�in any of�he Re[ai��d ❑ocuments o�to camply wi�h or�o perfr�rm any
<br /> �erm,�bliga��on,c��enant vr cond��ivn con�ained in any o�her a�reement befinreen Lend�r and Barrower ar Gran�ar.
<br /> Default on ��her Paym�n�s. Failure of Grantor within�he time re�uired by�his Ass�gnmenfi�a make an�paymenf
<br /> fvr taxes ar insuran�e,or any�ther payment ne�essa�y�o pre�ent fiCing��vr to effec�discha�ge of any�ien.
<br /> �]efaul� in Fa�ar of Third Par�ies. Bvrrawer ar �ran'�or de�aul�s under any [van, extension �� credit, securi�}r
<br /> agreement, purchase ar sales a�reement,or any ofiher agreemen�, in favvr�of any o�her�redito�or person fha�may
<br /> rnateria�ly a�fect any of Bvrrawe�'s or Grantor's prope�fy ar abi[��y�o per�v�-m their respec�ive obliga��ons under thfs
<br /> Assignment v�r any vf fihe Re�ated Documents.
<br /> False S�atements. Any warran�y, representa�ivn❑r s�atement made nr fum�shed�o Lender by Bo�-ra�rver or Grantor
<br /> or an Bo�rower`s or Gran�or's beha��under�his Assignment or�he Refated Documents is�a[se or misleadin�in any
<br /> material respec�, e��he� n�w or at �he �ime made or �umished o� bec�mes fa�se �r mis[eading a� any �ime
<br /> thereafter.
<br /> De�ec�i�e�o�lateraliza�ion. This Assignmen�vr any af the Rela�ed Documen�s ceases iro be in full�o�ce and �fF�c�
<br /> �includ�ng�ai�ure o�any colla�eral documen'��o�reate a ualid and pe�fected security interes�or l�en}a�any�ime and
<br /> far any reas�n.
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