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. . . . 2� 1 ��82�5 ASSIGNMENT C]F RENTS Loan No: 'I�3't3�U18� ��ntinued� Page 3 this Ass�gnmen� and not reimbursed from the Rents sha11 become a part of �he Indebtedness secu�ed by this Assignment, and shal� be payable on demand, with interest at the Note rate fram date of expendi�ure unti� paid. FL1LL PERFflRMANCE. I� Grantor pays a!� of the Indebtedness when due and otherwise performs all the ❑bligations imposed upan Grantor under this Assignment, the Nvte, and the Rela�ed Dacuments, Lender shall execute and deli�er to Grantor a suitable satisfaction af this Assignment and su�tab�e statemen�s af termination of any financing statement on fi�e e�idencing Lender's secur�ty interest in the Rents and the Property. Any terminat�on #ee required by law shalf be paid by�rantor, if perrnitted hy applicabl��aw. LENDER`S ExPENDITURES. �f any act�an or proceeding is commenced that would mater�ally af�ect Lender's interes�in the Praperty or if Grantor fails to campiy with any prv�ision of this Assignmen�❑r any Related Documen�s, including but not limited t❑Grantor's failure t❑ d�scharge ar pay when due any amounts Grantar is required t❑ discharge vr pay under this Assignment or any Rela�ied Docum�nts, Lender ❑n Grantor's behaif may �but shall no� be obfigated tv� take any activn that Lender deems appropriate, including but not limited to discharging or paying all taxes, l�ens, security interests, encumb�an�es and ath�r cla�ms, at any time le�ied or p�aced❑n th� Ren�s or the Proper�y and paying all �vsts for insuring, maintain�ng and preser��ng th� Property. All such �xpenditures incurred ❑r paid by Lender far such purpvses will then Eaear interes�at the ra�e charged under the Note�rom the dat� incurred or paid by Lender to the date of repa}�ment by Grantar. A�I such �xpenses will became a part o��he lndebtedness and, at �.ender's vption, will �A} be payable ❑n dernand; �B} be added to th� balance af the No�e and be appartivned amang and be payabfe with any instalfinent payments to became due during ei#her �7 y the term vf any appficable insurance palicy; vr �2� #he remaining term of the Nate; ar (C} be treated as a ballaan payment which wi�� be due and payabl� a# the Nate's ma�urity. The Assignment aiso wii�secu�e payrnent of these arnounts. 5uch right shafl be in additian t❑ afl other rights and remedies�o which L�nder may be en�i�led upon Qefauit. [3EFAULT. Each af the following, at Lender's vption,shall cQnstitut�an E�en�of❑e�ault under this Assignmen�: Payment Qefau�t. Borrower�ails to make any payment wh�n due under�he Indebtedness. Other Defaults. garrower ❑r Gran#or �ails �o comply with ❑r to per�orm any other term, obliyatian, covenant ❑r candition contained in this Assignrn�nt ar in any of the Re�ated Documents or to �omply wi�h or ta perform any �erm,❑bligation, co�enant vr conditian contained in any o�her agreement betwsen Lender and Borrowe�or Grantor. Qe�ault an �ther Payments, Failure ❑f �rantor within the time required by this Ass�gnmen� tv make any payment for taxes or'tnsuran�e, ❑r any other paymen�necessary to prevent#iling of or to effect d�scharge❑f any�ien. Faise 5tatements. Any wa�ranty, representation vr statement made vr#urnished t❑ Lender by Borrower t�r Grantor or on Sorrower's or Grantor's �ehalf under this Ass�gnment or the Related Documen�s is�aise or misleading in any materiai respect, eEther now or at the �ime made ar furnished vr beeomes fa�se or m�sleading at any time th�reafter. Defectrve Co�la�era�ization. This Assignment or any of�he Related ❑ocuments ceases to be in fu�� fvrce and e��ect �inc�uding failure of any collatera� do�ument to create a va[id and perfected se�uri�y interest or lieny at any time and for any reason. Death vr lnsv[�ency. The dissaiution of Grantor's tregard�ess ❑# whether elec�ian t❑ continue is made}, any m�mber withdraws from the �imited liability company, or any ather terminatian of 6orraw�r's or Gran�or's existence as a gQing business ❑r the death of any member, the insol�ency of 6orrower❑r Grantor, the appvintment of a recei��r far any part o�Borrower's or Gran�ar's property, any assignment far the benefit af creditvrs, any type af creditvr warkout, or the cammencement a# any praceeding under any hankruptcy ar insol�ency laws by ar against Borrawer ar Grantar. Creditor or Forfeiture Proceeding�. Commencement of foreclosure or �orfei�ure praceedings, whether by �udicial p�oceeding, seif-help, repossession or any other method, by any c�editor of Borrower or Grantar or by any go��rnmentai agency against the Rents ar any proper�y securing ti�e �nde�tedness. Tnis inciudes a garnishment o� any ❑f Barrawer's vr Grantor's acGounts, including depasit accounts, with Lender. However, this E�ent of❑efault shalE na� apply if there is a g�ad faith dispute by Borrower Qr Grantor as t� �he �aiidity or reasonabfeness of the cla�m which is the bas€s of the creditor or �ar#e�ture prvice�d�ng and if gorrawer or �rantor gi�es Lender written not�c� ❑f the creditor or for�eiture proceeding and depasits wi�h Lender rnonies or a surety bond #�r the creditor ar #or#eiture proceed�ng, in an arnaunt determined by Lender, in its so�e discretian, as being an adequa�e reser�e or band for the dispute. Praperty I7amage or Loss. The Property�s iost, stvlen, substantially damag�d, sold, ❑r borrowed against. E�er�ts A�fecting �uarantor. Any of the precedEng e�ents vccurs with respec�tv any guarantor, endvrser, surety, or accommodation party o� any of�he Indebtedness or any gua�antar, endorser, surety, ❑r ac�omrnodation party dies or becomes incompetent, or re�okes or disputes the validi�y of, or liability under, any Guaranty of the 1 ndebted ness. Adverse Change. A material ad�erse change occurs in Grantar's financial canditian, ar Lender belie�es the praspect o#paymen�or perfarmance of the Indebtedness is�mpaired. lnsecuri#y. Lender in gaad faith belie�es itsel�insecure. Cure Rrovisions. If any default, o�h�r than a de�ault in payment, is curabie and �# Grantor has na� been gi�en a