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2� 1 ��8�53
<br /> A��l�N�E�T �F F�E�T`�
<br /> .
<br /> Loan No: '1�7 30�a54 { ��1�����d� P�g� 3
<br /> this Assignmen� ar any Related �acuments, Lender �n Grantv�`s behal� may {bu� shail na� b� obligated tv� take any
<br /> ac�ion tha� Lender deems apprapria�e, inc[uding but no� limited t❑ dis�hargit�g c�r paying all �axes, Ciens� security
<br /> interests, encumbrances and ather c�a�m�, a�any�ime le�ied or placed an�he R�nts ar�he Prap�rty and paying a�� cvs�s
<br /> far insuring, ma�ntaining and preser�ing ��e Praper�y, AI[ su�h expenditures incu�red or paid by Le�nder �vr such
<br /> purpases will then bear interest at�he ra�e charged under�he Nate from �he date incurred or paid by Lender�❑the date
<br /> af repayment by Grantor. Al( such expense� will �ecome a part vf the 1na��btedness and, a� Lender's option, wilf �A�
<br /> be payable an demand; �g� be added ta the balance ❑��he Note and be ap�ortioned a�-nvng and be payable with any
<br /> ins�allmen� payments to �ecome due during eithe�- ��� #he t�rm af any appli�ab�� insurance policy, ❑r {2� �he
<br /> remaining term ❑� the No�e; or {C� be treated as a balloon payr�-tient vvhich vvill be due and payab�e at �h� Nvte's
<br /> maturi�y. The Assignment alsa will secure paymen�o�th�se am�unts, SuGh right shall be �n addit��n to all o�her rights
<br /> and remed�es ta which Lender may be enti�l�d upvn De�aul�.
<br /> []EFAULT. Each of the fa[Ivwing, a�Lender`s optian, shal{ �onstitute an Event v�aefaul�under th�s Assignment:
<br /> Paymen�Defaul�. Gran�ar fai[s ta make any payment uvhen due under the lndebtedness.
<br /> ❑#ner Defau�ts. Gran�vr fails �v c�m�ly vvith or t4 per#orm any oth�r �t�rm� obli��fiivn, �avenant vr c�nditi�n
<br /> c�ntained in this Assignmen� vr in any af the Related Dv�umen�s �r �o camply wi�h or �� per�orm any term�
<br /> obl"rgat�on, cv�enan�or c�ndi�ian contained in any❑�her agreement betv+jeen Lender an� Grantnr.
<br /> De�aul� on �ther Paymen�s. Failure of Gran�ar with�n �he tirr�e required by �his Assignmen��❑ make ar�y paymen�
<br /> far�Caxes ar insurance, or any o�her payment necessary ta preuen�filin� ❑�o��v ef�ect discharge of any li�n.
<br /> False 5tatements. Any warranfiy, representa�ion �� s�atement made or furnished �v Lender by Gran�or or ❑n
<br /> Gran�kor's behalf und�r this Assignr�nent ❑r �he Re[ated Docurne�ts is fafse ar misfeading in any ma�eria! resp�c�,
<br /> ei�her n�w or at th�time made or#urr�ished ar becomes �a�se or r-nisleading at ar�y time�hereafter,.
<br /> De�e�tive Callateralizativn, This Assignment or any nf the Rela�ed Qa�umen�s ceas�� �o be in fulf force and effect
<br /> �including �ai�ure af any�vllateral dacument to create a �alid and perf�cte� security in�eres�ar lien� at any t�me and
<br /> fvr any reason. `
<br /> Dea#h or lnsol�ency. The death af Grantvr, the insalvency of Gran�vr, th+� appvin�menfi ofi a re�eiv�r�ar any par�af
<br /> Gran�or's property, any ass�gnment �vr the benefi� af credi�ors, any �.ype n# cr�d��ar ►�vorkout, ar the
<br /> cammencemen�af any proceeding under any�ankrup�.cy or�nsolven�y f a�uvs by��-against G�rantar.
<br /> Credi�or ar Farfsi�ure PrviceedEngs, Commencement v� fvreclosure or farfeiture prvc�edin�s, whether by �udi�ial
<br /> pra�eeding, sel�-help� reposs�ssian or any o�her m�thod, by any�reditvr�f Grantvr vr�y any governrnen�al agency
<br /> agaEnst �h� Rents or any praperty securing �he lndeb�ed�ness. This includes a garnishment a� any vf Grantor's
<br /> ac�ounts, in�luding deposif accaunts, with Lender. Houve��r, this Even� v� Default shall not apply if �here is a
<br /> gaod faith dispute by Gran�or as�o �he �alidi�y or reasonableness of the c[a�m;�uvhich is the basis a�the creditor❑r
<br /> �orfeiture praceeding and i��rantor gives Lender written notice a�th��reditvr v�-�arfeiture praceeding and depvs�ts
<br /> with Lender mnnies ar a surety bond fiar the cr�di��r vr �or�Feiture prvice�ding, in an amvunt de�ermined by Lend�r,
<br /> in its so�e discretion, as being an adequate reserWe or bvnd far�he dispu�e.
<br /> Prvperfiy Damage or Lvss. The Praperty is Ivst, stvlen, substantiall�damaged, sald, ar aflrrowed again��.
<br /> Er�en�s I�fFe�ting Guarantor. Any vf the preceding even�s ❑ccurs with respect tv any guaran�or, endvrser, sure�y,
<br /> nr accommada�ian party of any ❑f t�e Indebtedness ar any guarantorf endorser, sure�y, ar accornmadativn party
<br /> dies or becames incvmpeten�, or rerrvkes or dispu�es the �alidity n�r or �iability under, any Guaranty ❑f the
<br /> Indebtedness.
<br /> Adverse Change. A material ad�e�se change accurs in Gran�or's financiaf C01'IC�I�lC7f�� or Lend�r believes the
<br /> praspect❑f paym�n�t ar perfi�rmance o#�he Indeb�edness is �mpair�d,
<br /> �nsecurity. Lende�in gaod faith belie�es i�self insecure.
<br /> Cure Provisions, Ef any defaul�, a�her than a d�fiault in payment{ is �urabie and if Gran�tor has no� been gi�ren a
<br /> n�tice of a �reach ❑f �he same pro�isivn a� this Ass'rgnmen� w�thin t�e precedin� �we��e f�2} mon�hs, it may be
<br /> cured ifi Gran��r, after Lender sends written no�ice to Gran�ar demandir�g �ure o�F such defiauEt: �'I} �ures the
<br /> defauit wi�hin�ifteen �15} days; ar ��� if the eure requires more�han fi�teen t'[5� day�, imm�dia�ely ini�iates s�eps
<br /> which Lender deems in Lender's sale d�s�retion �o he suffic�ent�a cure �he d�f�u�t and �herea�ter �ontinues and
<br /> cample�es all reasana�ie and nec�ssary s�eps suffi�ient�o praduce cvmpfianGe as soan as reasanably practical.
<br /> R1GHT5 AIVD REi1�EDIES �IV DEFAULT. Upon the accurrenc�af any Even�v�❑efiaul�and a�any time therea�ter, Lender
<br /> may ex�rcise any ❑ne ❑r more ❑�the�o�lowing r�gh�s and remedies, in addition to any ❑�he� righ�s v� r�m�dies pro�ided.
<br /> by�aw.
<br /> Accel�rate �ndebtedness, Lender shall ha�e �he right at its option ta a�eclare �he en��re [ndebtedn�ss immediately
<br /> due and payable, including any prepayment penalty that Gran�ar wauld b� required�❑ pay.
<br /> Callect Ren�ts. Lender shall ha�e �he right, vvithaut nvtice ta Grar�tar, ta take passession of �he �'raperty and
<br /> collect th� Ren�s, including amaun�s pas� due and unpaid, and apply �he net pro�eeds, o�er and above Lender's
<br /> casts, against the lndeb�tedness. �n fiurtherance af�his ri�ht, L�n�er shall have all t�e righ�s proWided for in the.
<br /> Lender`s Right t❑ Rec�i�e an� �ollect Rents Se�tinn� ab�ve, Ifi�he Ren�s are cvllecte� by Lender, �hen Grant�r
<br /> irre�acably d�signa�es Lender as Granfiar's attvrney-in-fact to endorse inst�uments receiWed in paymen�there�f in
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