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2� 1 ��7���
<br /> ASSI�NMENT �F RENTS
<br /> ��otlti r1 ued} Page 3
<br /> any assignment for the benefit of cred�tors, any type of creditvr work�ut,ar the commencement of any proceeding
<br /> under any bankruptcy or tnsolvency{aws by ar agains�6orrower or Grantvr.
<br /> Cred�tvr or For�eiture P�rviceedings. Commencement of fvreclosure or forfei#ure proceedings, whether by judicial
<br /> proceeding, self-he�p, repossession ❑r any other me#h�d, by any creditor of Borrower or Grantor or by any �
<br /> go�ernm�ntal agency against�he Rents vr any proper�y securing the lndebtedness. This in��udes a garnishment of
<br /> any vf Borrawer's vr Grantar's accounts, Encluding deposit ac�vunts,with Lender. Howe�er, #his E�en#of Default
<br /> shall not apply if there is a gvod faith dispute by Borrawer ar Grantar as fo the �alidi#y vr reasonableness of the
<br /> claim which is the basis of the creditor or fvrFeiture prfl�eeding and if 8orrower or �rantar gi�es Lender written
<br /> noti�e of the creditor❑r forfeiture prviceeding and deposits with Lend�r monies or a surety bond for the creditor�r
<br /> forFeitu�e prviceedin�, in an amvunt determined by Lender, in its s�le discretion, as being an adequate reserve or
<br /> bond for the dispute.
<br /> Property Damage or Lass. The Property is lost, stalen, substantrally damaged, sold,or borrawed against.
<br /> E�ents Affecting Guarant�r. Any of the preceding e�ents accurs with respect tv any guarantor, endorser, surety,
<br /> or accammoda#it�n par#y af any of the lndebtedness vr any guarantor, endorser, surety, ar accammodativn party
<br /> dies or becames incompetent, or re�akes ar disputes the �alidity af, or liability under, any Guaranty af the
<br /> Indebtedness.
<br /> Ad►►erse Change. A material ad�erse change accurs in �rantor's financial conditian, or Lender belie�es the
<br /> praspect af payment or p�rfom�ance vf the fndebtedness is impaired.
<br /> Insecurity. Lender in good faith believes itself insecure.
<br /> RIGHTS AND REMEDIES�N DEFAULT. Upon th�occurrence of any Event of Default and at any time thereafter, Lender
<br /> may exercise any one or more vf the follawing righ#s and remedies, in add�tion to any ather rights vr remedies pro�ided
<br /> by law:
<br /> Accelerate indebtedness. Lender shall ha�e the right at its optivn to declare the entire Inde�tedness immediately
<br /> due and payable,including any prepayment penalty that 6orrower would be required to pay.
<br /> Colfect Rents. Lender shali have the righ#, without notice tv Borrower or Grantor, to take p�ssession of the
<br /> �roperty ar�d �olle�t tt�e Ren#s, inc�uding amaunts past due and unpaid, and app�y the net proceeds, over and
<br /> abo�e Lender's costs, against the lndebtedness. In �urtherance of this right, Lender shal! ha�e alf the rights
<br /> pro�tded for in the Lender's Right to Re�ei�e and Coliect Rents Section, above. if the Rents are collec#ed by
<br /> Lender,then Grantor ir�-e�ocably designates Lender as Grantor`s attorney-in-fact to endorse instruments received in
<br /> payment thereaf in the name of Grantar and to negotiate the same and cvllec#the pro�eeds. Payments by tenants
<br /> or other users ta Lender in response to Lender's demand shall satisfy the obligations ior which the payments are
<br /> made, whether or not any prope� grounds far the demand existed. Lender may exe�cise �ts rights under this
<br /> subparagraph either in person, by agent,or through a receiver.
<br /> �ther R�medies. Lender shail ha�e all vther rights and remedies provided in this Assignment vr the Note or by
<br /> law.
<br /> Elec�ion v�Remedies. Electivn �y Lender to pursue any�emedy shall nat exclude pursuit�f any ather remedy,and
<br /> an elec#ion#o make expenditures ar to take actian to perfnrm an obligation of Grantor under this Assignment,after
<br /> Grantar's failure to per�vrm,shall not a�fect Lender's right to declare a default and exercise its remedies.
<br /> Att�rneys' Fees; Expenses. 1f Lender institu�es any suit or action�o en�orce any vf the terms of this Assignment,
<br /> Lende�-shall be entitled tn reoo�er such sum as the cou rt may adj udge reasanabie as attorneys'fees at tri al and
<br /> upon any appeal. Whether or not any court action is in�ol�ed, and ta the extent not prohibited by law, a�l
<br /> reasanabie expenses Lende�- incurs that in Lender's opinivn are neoessary at any time for the protection of its
<br /> interest or the en#vrcement a�its rights sha11 beoorne a part af the lndebtedness payabie vn demand and shal�t�ar
<br /> interest at the No�e ra�e frvm ti�e date o�the expendEture until repaid. Expenses ca��red�y t�is paragra�h inciude,
<br /> withvut I i mitatian, howe�er subject to any li mits under appl icable I aw, Lende�'s attarneys'fees and Lender's legal
<br /> expenses, whether or not there is a iawsuit, including attarneys' fees and expenses for bankruptcy proce�dings
<br /> (in�luding efForts to mvdify or�acate any automatic stay ar injunc#ion}, appeals,and any anticipated post judgment
<br /> cvllect�on services, the cvst vf searching records,obtaining#itle repvrts �includ�ng foreclasure repvrts}� 5LlNP]�C31'S�
<br /> repvrts, and appraisaf fees, tit�e insurance, and fees for the Tn.�stee, to the extent permitted by appiicable law.
<br /> Granto�aiso wif! pay any court costs, in additivn to all other sums pro�ided by law.
<br /> ELE�TRONIC �OP1ES. Lender may copy, electronically ar otherwise, and thereafter destray, the originals �f this
<br /> Agreement andlar Reiated Documents in the r�gular course of Lender's business. All su�h copies produced �rom an
<br /> e(ectronic form or by any other reliabie means �i.e., photographic image or facsimile}shal!in all res�ects be cansidered
<br /> equivalent to an ariginal,and Borrowe�hereby waives any rights or objec�ians to the use of such copies.
<br /> M�SCELLANEt]US PR�VI5IDNS. The fvllowing miscellaneous provisions are a part o�this Assignment:
<br /> Amendments. Th�s Assignment, together with any Related Documents, constitutes the entire understanding and
<br /> agreemen# of the parties as tv the matters set fo�kh in this Assignment. N� alteratian o�or amendment to this
<br /> Assignment shall �e effecti�e unless gi��n in wri#ing and signed by the party or parties svught to be charged ar
<br /> bound�y the alteratton or amendment.
<br /> Captivn Headings. Gaption headings in this Assignment are for convenience purpases on�y and are na#to be used
<br /> t❑ interpret or defne the pra�isivns of this Assignrnen#.
<br /> Go�err�ing Law. This Assignment will be gv��rned by federal law applicable tv Lender and, to the ex�ent nat
<br /> preemp#ed by�ederal law,the iaws o�#he 5tate of Nebraska without regard ta its conflicts nf law pra�isions. Th�s
<br /> Assignment has been accep#ed by Lender in the S#a#e af Nebraska.
<br /> Chaice of Venue. !f there is a�awsu�t, �rantor agrees upan Lender's request to submit to the jurisdictivn c�f the
<br /> courts af Hall County,5�ate ofi Nebraska.
<br /> Joint and Se�era� Liability. All obliga#ivns of Borrower and Grantor under this Assignment shall be joint and
<br /> se�eral,and a!I references to G�antor shall mean each and e�ery Grantor,and a11 references to Bvrrower shall m�an
<br /> each and e�ery Borrower. This rrt�eans that each Grantar�signing be�Qw is responsible fQ�- all vbli�ations in this
<br /> �4ssignment. Where any one or mare af the parties is a cvrporatian,partnership, limi�ed iiability company vr similar
<br /> entity, it �s not necessary�or Lender to inquir�e into the powers of any of the officers,directors,partners,members,
<br /> or other agents acting or purporting�a act vn the entity's behalf, and any obligations made or created in reltance
<br /> upon the professed exercise vf such powers shal�be guaranteed under this Ass�gnment.
<br /> Merger. There shall be no merger of the interest or estate created by this Assignment with any v#her interest or
<br /> esta#e in the f'roper�y at any time held by or for the benefit af Lender in any�apacity, without the written �ans�nt
<br /> af Lender.
<br /> interpretatian. �'�} ln a!i cases where there is mare than vne gorrawer vr Grantor, then al� words used in #his
<br /> Assignment in the singular shall be deemed to ha�e been used in the plurai where the con#ext and cons#ru�tivn s�
<br /> requ�re. {2} lf more than one persan signs this Ass+gnmen#as"Grantor,"the obligations o�each Grantvr are jvint
<br /> and se�eral. This means that if Lender brings a tawsuit, Lender may sue any one ar more vf the Grantars. �f
<br /> Borrvwe�r and Grantor are not the same persan, Lender need not sue Borrower first, and that Borrower need nvt be
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