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2� 1 ��7���
<br /> ASSIGNMENT DF R�NTS
<br /> ��ont�nued} Page �
<br /> Dwr�ership. Grantor is entitled to recei�e the Rents free and clear of all rights, Ioans, liens, encumbrances, and
<br /> claims except as disclosed to and accepted by Lender in uvriting.
<br /> Right to Assign. Grantar has the full �-ight, power and authority to enter into this Assignment and ta assign and
<br /> cflnvey t�e Rents ta Lender.
<br /> No P�ivr Assignment. Grantor has not pre��ously ass�gned ar conveyed the f�ents to any a�her pe�s�n I�y any
<br /> instrument naw in fvrce.
<br /> No Further Transfer. Grantor wil� not seli,ass�gn, encumber,or otherwise dispa$e of any of Gran#or's rights in the
<br /> Rents except as provided �n this Assignment.
<br /> LENDER'S RI�HT T� RECEIVE AND CQLLECT RENTS. Lender shali have the right at any time, and e�en though na
<br /> defau4t shall have occu�red under#his Assignment, to co�le�t and re�ei�e th� Rents. For this �urp�se, �.ender is hereby
<br /> gi�en and granted the following rights, powers and au#hority:
<br /> Not��e to Tenants. Lender may send notices to any and a11 tenants of the Property advising them of this
<br /> Assignment and d+recting al[Rents to be pa�d directly to Lende�ar Lender's ag�nt.
<br /> Enter the Praperty. Lender may enter upon and take possession of the Property; demand, coll+ec#and receiv�frvm
<br /> the tenants ar fr.om any other persons lia�le therefvr, all of the Rents; institute and carry vn ali I�gal proceedings
<br /> nec+essary for the prote�tion of the Property, including such proceedin�s as may be necsssary to recover
<br /> possession of the Prvperty; colCect the Rents and�-emove any tenant ar tenants vr�oth+er persons frvm th�Proper�y.
<br /> Maintain the Prvperty. Lender may enter upon khe Prvperty ta ma�ntain the Property and keep the same in repair;
<br /> to �ay the costs xhereaf and of al�servi�es af ali emp�oyees, in�luding their equipment, and of all con#inuin� casts
<br /> and expenses ofi main�aining the Property in proper repair and cvndition,and also to pay all taxes, assessments and
<br /> wa#er utilities, and the premiums on fire and other insuran�e effected by Lender on the Props�#y.
<br /> Cvmpfiance with Laws. Lender may do any and all things to execu#e and comply with the laws of the State ❑�
<br /> Nebraska and a�so all flthe� �aws, ru�es, orders, ordinances and requirem�nts of al� other ga�ernmenta! agencies
<br /> affecting the Property.
<br /> Lease the Property. Lender may rent or lease th�whole or any par#of the Property fvr such term or terms and on
<br /> such conditivns as Lender may deem appropriate,
<br /> Empfoy Agents. Lender may engage such agent vr agents as Lender may deem appropriate, either in Lender's
<br /> name vr in Grantor's name,to rent and manage the Property, includ+ng the colf�ctivn and appfication of Rents.
<br /> flther Acts. Lende� may do all such otMer th�ngs and acts w ith xes�ect ta the Property as Lender may deem
<br /> apprvpri�te and may act exclusively and solely in the place and s#ead of�rantor and #v ha�e all of the powers of
<br /> G�antor fvx the purposes s�ated abavs,
<br /> No Requfrement to Act. Lender shal� not be required to do any af the foregoing acts or th�ngs, and the fa�ct that
<br /> Lender shal! have performed one or more of the foregoing acis or things shall not require Lender to do any other
<br /> specific act ar thing.
<br /> APPLICATI�N OF REhfTS. Afl cvsts and expenses incurred by Lender in connection with #he Property shall be fo�
<br /> Grantor'� accvunt and Lender may pay such costs and expenses frnm the Ren�s. Lende�, in its $ole discretian, sha!!
<br /> determine the application vf any and all Rents recei�ed by it; hawe�er, any such Rents�eceE�ed by Lender which are
<br /> not appl�ed to su�h costs and�xpenses shail �e applied to the Indebtedness. Ali expenditures made by Lender und�r
<br /> this Assignment and no� �eimbursed from the Rents sha�� becvme a part vf the lndebtedness secured by this
<br /> Assignment, and shall be payable on demand,with in#erest at the Note rate from date vf expenditur�untii paid.
<br /> FULL PERF�RNlANCF. �f Grantor pays a11 of the lndebtedness when due and otherwise perform� afl the obligatians
<br /> impvsed upon Grantor under this Assignment,the Not�,and th�;Related Documents, Lender shail execute and deli�er to
<br /> Grantor a suitable satisfaction of thi�Ass�gnment and suitable statements ot termination of any financing sta�ement on
<br /> file e�iden�ing Lender's security interes# in the Rents and the Property. Any termination fee requ�red by law shalf be
<br /> paid by Gran#vr, if permi�ted by applicab�e law.
<br /> LENDER'S E�CPENDI'TURES. I�f any action or proceeding is oammenoed that wouid materially affect Lender's interest in
<br /> the Praperky ar if Grantor fai�s to comply with any pro�ision af this AssignrrtEnt vr any F�,elated Dacuments, including but
<br /> no�limited to Granto�s faiiure to discharge or pay when du�any amounts Grantor is required to dis�harge o�pay under
<br /> this Assignm�nt vr any Relarted Do+�um�nts, Lender vn Grantor's behalf may �bu� shall not be vbfigated to} take any
<br /> actian that L�nd�r deems appropriate, inciuding but not limited to discharging nr paying �II taxes, liens, security
<br /> interests,encumbranoes and�ther claims,at any time�e�ied or placed on#he Ren�s or the ProAerty and paying ail oasts
<br /> far insuring, maintaining a�nd preserving the Property. All such expenditures inc�rred vr paid by Lender for such
<br /> purposes wi i I then aear i nterest at the rate charged under the Nvt�from�he date i ncurred or paid by Lender to the date
<br /> of rgpayment by Grantvr. All such expenses will ka�cvme a part of the Indebtedness and, at Lender's Qption, will {A}
<br /> be payab�e on demand; �B} be added to the bal�nve of th�Note and be appartioned a,rr�ong and be payab�e with any
<br /> installment paymenfs to beoome due during either {1} �he term of any applicable insuranoe pvlicy; or �2} the
<br /> r�maining term af the lVvte; or �C� be trsated as a ba�lvon payment whi�h v+sil� be due a�d payable at the Nate's
<br /> maturity. The Ass�gnment also will secure payment of#hese amounts. �u�h right shaii be in additian ta all other rights
<br /> and�em�dies to�avh��h Lende�may tae entitled upan Defauit.
<br /> DEFAULT. Each of#he foE�owing, at Lender's aptian,shall constitute an��ent vf Default under#his Assignment:
<br /> Payment Default. Borrvwer fails tv make any payment when due under the Indebfedn�ss.
<br /> �ther Defaults. Bvrrower vr Grantor fails to comply with or to perFvrm any vther term, obliga#ian, co�enant vr
<br /> conditivn cvntained €n th�s Assignment ar in any vf the R��ated DQcuments flr tfl c�m+ply with o�t� perfarm any
<br /> term,❑bligatic�n,co�enant❑r condition contained in any ather a�reement between Lender and 8orrower ar Grantvr.
<br /> Default on D�her Payments. Failure at Grantor wi#h�n the time required by this Assignment ta make any payment
<br /> for taxes or insurance,or any other payment necessary to prevent filing af or to effect discha�-ge❑f�ny lien.
<br /> �efault !n Fa�o� of Third Parties. Bvrrawe�` or Grantor defau�ts und�r any lvan, �xtensivn of credit, security
<br /> agreement, p�rchase ar sales agreement,or any a#her agreement, in fa�or af any other credEtor❑r persvn that may
<br /> materially affect any of Borrvwer's ar Grantor's proper�y ar abi�ity to perf�rm their respecti�e abligations under this
<br /> Assignment or any of the Related Documents.
<br /> Falss Sta�ements. Any warranty, representatian or statement�nade flr fu�nished to Lender by Borrower a���anta�
<br /> or an Bnrrower's ar Grantvr's behaif under this A�signment or the Related Documents is false ar misleading in any
<br /> materia{ r�spect, either nflw �r at the time made or fu�nished or becvmes �alse or misleading at any time
<br /> thereaf�er.
<br /> Defecti�e Coliateralizatian. This Assignment or any of the Related Dacuments ceases t❑be in full force and effe�t
<br /> (including faiiure af any callateral da�ument tv create a�alid and perf�cted security interest ar lien}at any time and
<br /> for any reason.
<br /> Death or lnsal�ency. The dissolu�ion or termination of Borrnwer's or Grantor's existence as a going business, the
<br /> insol�ency of Sorrower or�rantor, the appoin#m�nt of a recei�er fvr any part of Bor�row�r's or Grantfl�'s proper#y,
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