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2� 1 ��7�� 1
<br /> AS51�NlIAENT []F RENTS
<br /> �Cantin ued� Page 2
<br /> 4wnership. �rantor is entitled #a recei�e the Rents free and clear af ail righ#s, foans, liens, encumbran�es, and
<br /> claims except as disclosed to and accepted by Lend�r in wri#ing.
<br /> R�ght#o Assign. Grantor has the ful! right, power and authority tv enter into this Assignment and to assign and
<br /> con�ey the Rents to Lender.
<br /> Na Prior Assignment. �rantor has not pre�iously assigned ❑r canveyed the Rents �o any ather �ersan by any
<br /> instrumen#now in force.
<br /> Nv Further Transfer. Grantvr wtll nat sell,assign,encumbe�,o�r othen�ise dsspase❑f any af Grantv�'s r3ghts�n t�e
<br /> Rents except as pro�ided in this Assignment.
<br /> LENQER'S R1G�HT T� �ECESVE AND ��LLE�T RE�TS. Lender sha�l �ave the rig'ht at any time, and e�en though no
<br /> defauit shali ha�e occurred under this As�ignment, to collect and recei�e the Rents. Far this purpose, Lender is hereby
<br /> given and granted the foliowing rights, pvwers and authority:
<br /> Notice to Tenants. Lender may send notices to any and aif tenants of the Property ad�ising them ❑f this
<br /> Assignment and�lirecting all Rents to be paid di�ectly to�ende�or Lender`s age��.
<br /> Enter#he Property. Lender may enter upon and take possession of th��'roperty; +demand, callect�nd recei�e from
<br /> the tenants ar fram any other persons liable therefor, all of the Rents; institute and carry on al� legal proce�dings
<br /> necessary for the protectivn of the Property, incfuding such proceedings as may be necessary to recover
<br /> possessivn of the Property;col�ect#he Rents and remave any tenant oc tenants or other persons f�r�m tf�e P�aperty.
<br /> Maintain the Property. L�nder may enter upon the Praperty tv mainta+n the Prop�rty and keep the sam+e in repair;
<br /> to pay the �osts thereof and❑f al!servicss of al!emp�oyees, includ#ng the�r eq�ipment,and o�a�l cont'tnukng costs
<br /> and expenses af maintaining the Prvperty in proper repair and condition,and also#o pay all taxes,assessments and
<br /> water u#ifities,and the premiums on fire and other insurance eifected by Lender on the Praperty.
<br /> ComplianGe with Laws. Lender may do any and all things tv execute and comply with the laws of the State of
<br /> Nebraska and also all oth�r laws, rules, vrders, ordinances and requirements of all other gvvernmental agencies
<br /> a�f�cting the Property.
<br /> Lease the Property. �ender may rent vr leas�the w�als vr any par�o�the Prvpe�ty for such�erm or te�ms and on
<br /> such conditivns as Lender may deem apprapriat�.
<br /> Employ Agents. Lender may engage such agen� vr agents as Len��r may deem app�rvpriate, either in Lender`s
<br /> name or in G rantor's name,ta rent and manage ths Property, including the col�ectian and application of Rents,
<br /> �ther A�ts. Lender may dv all such other things and acts with respect tv the Prvperty as Lender may deem
<br /> appropriate and may act exclusi�ely and solely in the place and stead of Gran#vr and to have all of the powers vf
<br /> �rantor for the purpases sta�ed abvv�.
<br /> No Requirement to Act. Lender shall not be r�quired to do any�f the foregoing acts or things, and the fact that
<br /> L�r�der shall have pe�#a�med one or more of t�e fvregoing acts or things shall not requirs Lender to do any other
<br /> specif�c act or thing.
<br /> APPLICATIDN DF RENTS. Aii cos�s and ex;aenses incurred by Lender in connection with the Prvperty shall be �or
<br /> Grantor's accoun# and Lender may pay such cvsts and expenses�rvm the Rents. Lender, in its sole discretivn, shall
<br /> determine the appl�cati�n�o� any and all Ren�s received by it; howewe�, any such Rents recei�ed by Lender which are
<br /> not app�ied to such costs and expenses sha�l k�e applied tv the indebtedness. Alf expenditurss made by Lender under
<br /> this Assignment and not reimbursed fram the Rents shall becorr�e a part af the Indeb�edness secured by this
<br /> Assignment,and shai�be payable vn dem�nd,with interest a#the No#�rate fram date vf expenditure unti!paid.
<br /> FULL PERF�RMANGE. lf Grant�� pays all of the �ndebtedness when due and othsrwise per�cxms all the ob�igatiar�s
<br /> impased upvn Grantor under this As$ignment,�he Nvte,and the Related Documents, Lender shall execut�and deli�er to
<br /> �rantar a sui#able sa#isfaction of this Assignment and suitabEe statements af terminativn of any financing statement on
<br /> fle e�idencing Lender�s security interest in the Rents and the Property. Any te�mination fee requ�red by law sha�! be
<br /> paid by�rantQr,if permitted by appli�able law.
<br /> LENDER'S EXPEN[]ITURES. I#any activn or proc�eding is commenced that wvu�d materially af#ect Lender's interest in
<br /> the Property ar if Grantor fa�is to oampiy w�th any pra�ision of th+s Assignment or any F�elated Qocuments,including but
<br /> no�limited to Gr�ntvr`s faiiure to disr�arg�or pay when due any amounts Grantvr is r�quired to discharge ar pay under
<br /> this Assignment or any Related Doeuments, Lender vn Grantvr's behaff may �but shall not be abligat�d to} take any
<br /> action that Lende� deems apprvp�iate, inc�udtng but not Ismited to discl�arg3ng vr pay�ng a�� taxes, liens, seGurity
<br /> interests,encumbranoes and other claims,at any time le�ied or plaaed nn the Rents vr the F'roperty and paying afl�vsts
<br /> �or insuring, ma�ntaining and preserving the Property. A�� such expendi�ures incurred vr �aa�d by L�ndsr far such
<br /> purpases will then bear interest at the rate charg�d under the Note from the date incurred vr paid by Lender to the date
<br /> of repaymen� by G�-antor. All such expenses will beoome a part of the lndebtedness and, at Lende�'s option, will �A}
<br /> be payab�e on demand; (B} be added to the balano�of the Note and be apportivned amvng and be payabf�with any
<br /> installment payments to bevome due during either �1} the term of any applicable insuranoe policy; or �2} #he
<br /> re.mair�ing term v#the Note; o� tC} be�reated as a bal�von payment whi�t� wi�4 be due and payable at the hlote's
<br /> maturity. The Assignment also wi!! secure payment Qf�he5e amounts. 5uch right shall be in addition to all other rights
<br /> and remedi es ta wh i ch Lender may h►e entit!ed u pan Defa ult.
<br /> DEFAULT. Each af the fallowing, at Lend�r's optian, shafl canstitu#e an Event of❑efault under this Ass�gnment:
<br /> Payment Defiaul�. Bvrrower fails tv make any payment when due under the�ndebtedness.
<br /> �ther Defauits. Bvrrower vr Grantor faifs tv camply with vr to perform any o#her term, obligation, cv�enant or
<br /> canditivn contained in �his Assignment or in any af#he Related Dacuments or �o comply with or to perfarm any
<br /> term,vbliga#ian,�a�enant or c�nditian contained in any ather agreement between Lender and S�rrawer vr Gran#or.
<br /> Default an �ther Payments. Failure of Grantor within the time r�quired hy this Assignment ta maks any payment
<br /> for taxes or insurance,or any❑ther paymen#n�cessary to pre�ent�iling af or to effect discharge of any lien.
<br /> Default in Fa�or of Third Par#ies. Barrower or �rantor defaufts under any Ioan, extens�an of credit, security
<br /> agreement, pur�hase❑r sales agreemen#,or any other agreement, in fa��r of any other creditar ar p�rsan#hat may
<br /> materiafly affe�t any o�Bvrrower's or Grantar's praperly or ability tv per�orm fheir respecti�e t�biiga#ivns under this
<br /> Assignment or any vf the Re�ated Documen#s.
<br /> False 5tatements. Any warranty, represen#atian or statement made or furnished to Lender by Barrvwer vr Grantor
<br /> ar❑n Borrower's or Grantvr's b�half under this Assignment or the Reiated Dacuments is fa�se or misleading in any
<br /> materia! respect, either now ❑r at the time made vr furnished or beoomes �alse vr misleading at any time
<br /> therea�ter.
<br /> Defectir►e Colfa#era�ization. This Assignment vr any of the Rela#ed Dacuments ceas�s�o be in full�orce and effect
<br /> {including failure of any calfaterai dacument to create a�alid and per�e�ted security interes#or lien}at any time and
<br /> fnr any�eason.
<br /> Death or Insol�ency. The dissolutivn or termination of Borrawer's or Crantor's existence as�going �usiness, the
<br /> inso�vency of 8arrower❑r�rantor, the appvin�men�o#a receiver for any part of Borrvwer's or Grantar's prop�r�y,
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