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2� 17� 1595 ASSi�NMENT �F RENTS L�an No: 1 D1�D3'I 55 �Corttinued� Page 2 THIS ASSIGNMENT IS GIVEN T� SECURE ��y PAYIVIENT QF THE INQEBTEDNESS AND �2� PERF�RMANCE 4F ANY AN❑ ALL �BL1GATl�NS �F B4RR�INER AND GRANT�R UNDER THE N�TE, THIS A55IGNMENT, AND THE RELATED D�CIJMENTS. TH1S ASSIGNN[ENT 1S GIVEN AND AGCEPTED �N THE F�LL4VIIING TERMS: GRANT�R'S 1NAIVERS. Grantor wai�es all ri�hts or defenses arising by �eason o� any "one a�tion" or "anti-deficiency" law, or any �th�r �aw whi�h may pre�ent Lender �rom bringing any actian against Grantor, including a claim for deficiency to rhe extent Lender is ❑therwise entitled ta a ciaim for deficiency, befare or afte� Lender's commencement or campiet�an of any foreclvsure actian, eith�r judiGially❑r by exercise of a pflwer�f sale. B4RR�VIJER'S WAIVERS AN❑ RESPnN�IBlLITIES. Lender need n�t tell Barrower about any action or ina�ti�n Lender takes in �vnnection with this Assignment. Borrower assumes the responsibility for being and keeping informed ab�ut the Property. Borrawe� wai��s any ds#enses that may arise because of any action or inac�ion �f Lender, including without limitation any failure ❑f L�nder t❑ realize upan the Property, or any delay by Lender in realizing upon the Praperty. Barrvwer agrees t❑ remain liable under the Note with Lender no ma�ter what action Lende� takes ar fails to take under this Assignment. PAYMENT AN❑ PERFaRMANCE. Ex�ept as otherwise pro�ided in this AssFgnmen� or any Rela��d �acuments, Grantor shall pay to Lender all amounts secured by this Assignment as they become due, and shall strictly perform all ❑f Grantor's obl�gations under this Assignment. LJnless and until Lender exercises its right ta collect the Rents as pro�ided belvw and so fong as there is n� default under this Assignment, Grantor may remain in possession and cantro! of and operate and manage the Property and GoElect the Rents, pro�ided that the granting of the right to collect the Ren�s shal! nat ��nstitute Lender's cansent to the use ❑f cash collateral in a bankrupt�y proceeding. GRANT�R'S REPRESENTATIDNS AND WARRANTIES. Granto�warrants that: �wnership. Grantar is entitled �o re�ei�e the Rents �Free and clear of all rights, loans, liens, encumbrances, and claims except as discl�sed t❑ and accepted by Lender in writing. Right to Assign. G�antar has the tull right, pawer and auiharity to enter into this Assignment and to assign and con�ey the f�ents to Lender. No Pr�or Assignment. �rantar has not pre�iously assigned or con�ey�d the Rents t� any ❑ther persan by any instrument nQw in f�rce. No Further Transfer. Grantnr will nat sell, assign, encumber, or otherwise dispos� ot any ❑f Grantor's rights in the Rents except as pro�ided in this Assignment. LENDER'S R1GHT T� RECEIVE AND C�LLECT RENTS. Lender sha�� ha�e the right at any time, and e�en thaugh no default shall ha�e occurred und�r this Assignment, to coflect and recei�e the Rents. Fvr this purpose, Lender �s hereby gi�en and granted the fof�awing rights, powers and authority: NQtice to Tenants. �end�� may s�nd notices tfl any and all t�nants af th� P�vperty advising them vf this Assignment and directing all Rents to be paid directiy t❑ Lender or Lender's agent. Enter#he Property. Lender may enter upon and take possessinn ❑f the Praperty; demand, callect and recei�e from the tenants �r fram any ❑ther persons liahle therefor, alf ❑f the Rents; institute and �arry an all legal proceedings necessary far the pra�e�ti�n ❑f the Property, including such praceedings as may be necessary ta reca�er possession o�the Property; callect the Rents and rem�We any �enant❑r tenants or other pers�ns from the Pr�perty. IUlaintain the Property. Lender may enter upan the Prvperty to maintain the Property and keep the same in r�pair; to pay the costs thereot and ot all ser�ic�s vf all empioyees, including their equipment, and �f all cvntinuing costs and expenses of maintaining the Praperty in praper repair and conditian, and also to pay all taxes, assessments and water utilities, and the premiums on fire and ather insurance effected by Lender nn the Praperty. Campliance with Laws. Lend�r may d❑ any and all things t❑ execut� and camply with the [aws ❑f the State of Nehraska and also a�1 other laws, rules, �rde�s, ❑rdinances and requirements of all ❑ther go�ernmental agencies affe�ting the Property, Lease the Prnp�rty. Lender may rent or iease the who�e ar any part ❑f the Praperty for �u�h term or terrr�s and an such conditivns as Ler�der may deem appr�prfate. Emplay Agents. Lender may �ngage such agent flr agents as Lender may de�m appropriate, either in Lender's nam� vr in Grant�r's name, t❑ rent and manage the Property, including the coli�ction and applicatian of R�nts. �ther A�ts. Lender may do a!I su�h other things and acts with respe�t to the Praperty as Lender may deem appropriate and may act exclusi�ely and solely in the place and stead of Grantor and to ha�e a�l of the pawers of Grantor tvr the purpases s�ated abo�e. No Requirement to Act. L�nder shall nat be required to da any af the foregoing acts or things, and the fact that L�nder shaEl ha�e perfarmed on� or mare of the far�going acts ❑r things shall not require Lender ta d❑ any ❑ther specific act❑r thing. APPLICATI�N �F RENTS. All costs and expens�s inGurred by Lender in cvnnection with the Prope�ty shalf be �or Grantar's account and Lender may pay such c�sts and expenses from the Rents. Lender, in its sal� discretion, shal� determine the appf ication ❑f any and all R�nts recei�ed by it; hvwe�er, any such Rents rec�i�ed by Lend�r which are not appf�ed #❑ such costs and expenses shall be applied t� the Inde�tedness. Afl expenditures made by Lender under