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2� 1 ��8��8
<br /> AS����I�IE�VT �F RE�T�
<br /> Loan No: ��13�]���� �����t��tu�d� �'age 3
<br /> this Ass�gnment and not reimbursed fram th� Ren�s shall become a par� of �he Indeb�edness secured by �his
<br /> Assignment, and shall be payable an demand, with in�ere�t at the No�e rate frnm date of�xpenditur� until pai�.
<br /> FULL PERF�Rj'iliA�VCE, If Gran�or pays all ❑� the [n�ebtedness when due and ❑�he�v�rise perfarr�s all �he obliga�tions
<br /> �mposed up�n Grantar under this �Is�ignmen�, �he Nvte, and the Re(�ted Documents, Lender shall execute and deli�er tc�
<br /> Granto� a suitabfe satis�a�tivn ofi this Assignment and suitable statemen�s ❑f te�mination �� any finan�ing statement on
<br /> fi�e e�idencing Lender's security in�teres� in the Ren�s and fihe Property. Any term�r�ation fee re�uired by law s�al� be
<br /> paid by Gran�or, i�permitted by applicable law.
<br /> LENDEFi'S E?�PENDITURES, I� any ac�ivn �r praceeding is �ommenced that would materia�ly affe�� Lender's interest in
<br /> the Prop�rty or i�Granta�fails to �omply with any prov�sian vf this Ass�gnrr-�en�t❑r any Related Docum�n�s� inc[uding bu�
<br /> no� limi�ed tv Gran��r's �ailure tv discharge vr pay when due any amaunts Grantvr is require�ta d�s�harge or pay under
<br /> this Assignmen� nr any Rela�ed Documen�s, Lender on Gran�vr's behalfi rr�ay �bu� �hall no� be vbligated to� �ake any
<br /> action that Lender deems apprvp�ia�e, including but nat [imited �� dis�harging vr paying afi taxes, ���115r security
<br /> interests� encumbrances and �ther claims, at any�ime le�ied or pfac�d ❑n�he Rents or�he Proper�y and payEng all cvs�s
<br /> �For in�uring, maintaining and preser�ing the Prvperty. �II such expendi�ures incurred ❑r paid [a� L�nder �or such
<br /> purpvses v+ii(� then bear inte�es�at th� rate c�a�ged un�er�he Na�te�ram the date in�urred ar pa�d by Lender�o �he date
<br /> a� repayment by Grantor. All such expenses wi[I became a part a� th� Cndehtedness and, at Lender's vptian, rrvi�l �A�
<br /> be payable ❑n demand; 4B� be added ta ths balance v� the Note and be apportianed amang and be payabie with any
<br /> installmen� paymen�s tfl become due durin� �i�her ��� the term o� any app[icabf� insurance policy; or ��� the
<br /> remaining term af �he Note; or {Cy be treated as a �al�flvn paymen� which will b� due and payable at the IV�te's
<br /> maturi�y, The Assignment also will se�ure paymer�t o��h�s� amounts. Such right shail be in addi�ion tv all vl�her rights
<br /> and remedies to whi�h Lender may be enti�led upvn ❑efau�t.
<br /> I]EFAULT, Each of�he following, at Lender`s option, shall cons�itute an E�en�o�De�ault under this Assignment:
<br /> Paymen�Defaul�. B�rroriver fails t❑ make any paymen�when du� under�khe lndebtedness.
<br /> C]�her Defaults. Bvrrower ar Grantor �aiis �to cvmpCy wi�h or t❑ perform any other term, ob[igafion, ca�enant vr
<br /> canditian can��ined in this Assignment vr in any �f th� Refated Dvcuments or to comp[y wi�h or to perform any
<br /> term, obli�a�ian, cv�enant or candit�an cantained in any❑�her agreement befiween Lender and Barrower a�r Grantor.
<br /> Default vn t3ther Paymen�s, Failure a� Grantar virith�n the time r�quired �y thi� Assignment to make any paymen�
<br /> �or taxes or insurance, or any o�her payment necessary ta preu�nt f`rling of❑r�a ef�ect discharge of any lien.
<br /> Fa[se S�atemen�s. Any warranty, representa�ion or sfiatement made or turnished �o Len�er by Borrnuver or Gran�or
<br /> vr on BorroweC's ar��an�vr's behal�under this Assignmen�t ar the Relafied DaGu�ents is false �r m�sleading in any
<br /> material respeGt, eith�r naw or at the time made ❑r #urnishsd or be��mes false or misleading at any �ime
<br /> thereafter.
<br /> Defe�tive Co[lateral'r�at�an. This Assignment or any af�he Rela�ed Dacurnents ceases tv be in fufl �orce and effec�
<br /> �including �ailure�#any co[�ateral dvcument�o crea�e a �afid and per�e�xed security in�erest ar lien} at any�ime and
<br /> for any reason.
<br /> Death nr fnsvfvency. The diss�lution af Grant�r's �r�gardless �f whe�her elec�ian �a �antinue is m�ade�, any
<br /> memb�r withdraws from �he limited liability company, o� any �th�r terminatian vf Borrow�r`s ar Grantar's
<br /> �x�stence as a going business v�the dea�h of an� mem�er, �he insol�ency af Barrower❑r G�an�ar, tF�e a�pointmen�
<br /> o�a re�ei�er for any part��f Barrow�r's ❑r �rantor's proper�y, any ass�gnmen�for�he bene�i�vf eredi��rs, any type
<br /> ❑� creditar wvrkaut, ❑r fhe cammencement of any �aroceeding under �ny bankrup�cy vr insal�ency iaws by �r
<br /> against Barrower or Grantor.
<br /> Creditvr or Forfeifiure Proceed�ngs. Cammencemenfi of fareclasure vr for�eiture proceed�ng�, wheth�r by judicial
<br /> proceeding, self-he1p, rep�ssession vr any ❑ther method, by any creditor o# Barrvwer or �rantar or hy any
<br /> go�ernmen�al agen�y agains�the R�nts ar any prap�rty se�uring the Indeb���nes�. This in�ludes a garn�shmen�of
<br /> any a#Borrower`s or Grantor's accvun�s, incfuding depvsi� acc�un�s� �rvi�h Lender. Hvw�ver, th�s Event o� Defau(�
<br /> sha11 nat apply if there is a goad faith dispute by Borrvvuer �r �rantor as to the �alidi�y or reasanableness a�the
<br /> cla`rm which is the basis vf �he cr�ditvr or �orfeiture praceeding and if Bo�rrov+ler or Gran�ar giues Lende� v►iritten
<br /> nvtEce ❑f�he �redi�or v� fi��fei�ure proce�ding �nd depasits w€th Lender mvnies �r a surety band fvr�he credi�or or
<br /> farfeiture praceeding, rn an amaunt determined by Lender, in i�s s�Ie �iscretion, �s being an adequat� reserve a�
<br /> bond �or�he d�spute.
<br /> Property Damage or Loss. The Praper�y is io��, s�vf�n, subs�antia[[y damaged, �ald, or borrowed against.
<br /> E�ents Affecting Guarantor. Any a�#he preGeding e�en�s v��urs wi�h respect�o ��y guarantor, endvrser, surety�
<br /> or a��ammada�ivn party �f any af �he lndebtedness ar any gu�rantvr, endarser� sure�y, ar accommodat�on par�y
<br /> dies �r becom�s �ncompetent, vr revokes or disputes �he �alidity v�, �r lia�ili�y und�r, any �uaran�y �� �he
<br /> lndeb�edness,
<br /> Adverse Change. A material ad��rse change ocGurs in Crantor"s financial eondi�ti�n, ❑r Lender believes �he
<br /> prospect af payment ar performance of the lndeb�edness is impaired.
<br /> �nsecurity. Lender in g�od fai�h belieWes itself insecure.
<br /> Cure PrvW'rsions. �f any de�aul�, other than a de�au�t in payment, is curable and i� GrantQr has not be�n gi�en a
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