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2� 17� 1595 ASSIGNMENT �F RENT� Lvan No: �0�3�3��5 ��or7t111ued} Page 3 this Assi�nment and not reim�ursed from the Rents shall become a part ❑f the �ndebtedness ss�ured by this Assignm�nt, and shafl be payabl� on demand, with interest at the Note rate from date of expenditure until paid. FULL PERFDRMAN�E. If Grant�r pays ali af the Indebtedness when due and atherw�se perfvrms all the ❑bligations imposed upon Grantar under this Assignment, the N�te, and the Related ❑ocuments, Lender shall execute and deli�er tv Grantor � suitabie satisfact�on of this Assignment and suitabl� statements of termination of any financing statement nn file e�idencing Lender's security interest in the Rents and the Praperty. Any termination fee required hy law shall be paid by Grantar, if permitted by applicable law. LENDER'S EXPENDITURES. 1f any action ar proceeding is commenced that wouid materially affect Lender's interest in �he Property or if Grantor fa�ls to camply wi�kh any pro�isian vf this Assignment or any Re�ated D�cuments, including but not limited to Grantor's failure t❑ discharge or pay when due any amounts Grantor is required to discha�ge or pay under this Assignment flr any Related ❑ocuments, Lender on Grantor's behalt may �but shall not be o�ligat�d to} take any action that Lender deems apprapriate, including but not limited to discharging or paying all taxes, liens, security in�erests, encumbrances and ❑ther ciaims, at any�ime le�ied or placed on the Ren�s or the Property and paying ali costs for insuring, maintaining and preser�ing the Property, AI� such expenditures in�urr�d ar paid by Lender for such purpases wif� th�n bear interest at the rate charged under the Note from the da�e incurred or paid by Lender t❑ the date of repayment t�y Grantor. All such expenses will be�ame a part �f the Indebtedness and, a# Lender's optivn, will �A� be payable on demand; �B� be added �❑ the balance of th� Note and �e apportioned among and be payable with any instailment payments to #�ecome due during either �1� the term of any app�icable insurance policy; ar �2y the r�maining term of the Nate; or �Cy be treated as a ballvon payment which will �e due and payable at the Note's maturity. The Assignment also will secure payment af these amounts. 5uch right shai! be in additian to all othe� rights and remedies to whi�h Lender may be entitled upon �efault. DEFAULT. Each of the foflo►rving, at Lender's aption, shall �anstitute an E�ent af Defauit under this Assignment: Payment Default. gorrower fails to make any paymen� when due under the Indeb�edness. ather Defaults. Borrower or Grantnr fails to comply wtth ar to per#arm any ❑ther term, obligatian, co�enant ❑r �ondition contained in th�s Assignment ar in any ❑f the Related ❑o�uments or ta compiy w�th or to perf�rm any terrrt, ❑bligation, co�enant ar canditian contained in any o�h�r agreement between Lender and Borrawer or�rantvr. Default on �ther Payments. Failure ❑f Grantor within the tim� re�uired by this Assignment to make any payment for taxes or insurance, or any❑th�r payment necessary to prevent filing ❑f or tv effect discharge of any lien, False 5ta#ements. Any warranty, representation or statement made or fiurnished to Lender by Barrower or Grantor or ❑n Barrnwer's or Grantor's behaif under�his Assignm�nt or the Re�ated Da�uments is false �r misleading in any material respect, e�ther now ❑r at the time made or furnished or becomes false ❑r misleading at any time thereafter. Defecti�e Col�ateralization. This Assignment ❑r any of the Related �ocuments ceas�s ta he in ful! force and effect finc��ding failure �f any collateral da�ument to create a �alid and perfected securi�y interest or lien7 at any time and for any reason. Death �r Insvi�en�y. Th� dissolution ❑f Grantor`s �regardless ❑f whether election t� cvntinue is made�, any member withdraws from the limited liability �vmpany, or any ather terminatian ❑f Borrawer's or �rantvr's existen�e as a gaing business or the death o� any member, the insol�ency of Borrower or Grantvr, the appointment �f a r�cei�er far any part❑f garrower's �r Grantar's property, any assignment #ar the benefit ❑f credita�s, any type of creditor workout, �r the �ommencement ❑f any proceeding unde� any bankruptcy or insai�ency laws by or against Borrower ar�rantar. Creditar or Fvrfei#ure Proceedings. Commencement of fvrecl�sure or forfeiture pra�eedings, whether by judicial prviceeding, self-help, repossession ar any other method, by any �reditor of Barrvwer or Grantor or by any ga�ernmenta� agency against the Rents ar any property securing the Indebtedness. This �ncludes a garnishment af any af Borrawer's or Grantor'S 3CCflUntS, including depasit accounts, with Lender. Howe�ef, this E�ent of Default shall not apply if there is a go�d faith dispute by Borr�wer or Grantor as ta the �alidity or reasanableness of the claim which is the basis of the creditor �r forfeiture proceed�ng and if Bvrrower or Grantvr gi�es Lender wri�ten natice vf the creditar or fvrfeiture praceeding and deposits with Lender monies vr a surety bond fvr the creditor ar �arfeiture proceeding, �n an amount determined by Lender, in its sole dis�retion, as being an adequate reser�e or band far the dispute. Rraperty Damage or Loss. The Pr�perty is lost, stolen, substantialiy damaged, svld, or borr�wed against. E�ents Affe�ting Guarantor. Any ❑f the preceding e�ents occurs with respect to any guarantor, endorse�, surety, vr accommodation party ❑f any of the Indebtedness ❑r any guarantor, endorser, surety, or accomm�dation party dies or becomes in�ompetent, ar re�akes ar disputes the �alidity of, or liability under, any Guaranty of the Indehtedness. Ad�erse Change. A mater�al ad�erse change ❑ccurs in Grant�r's financial conditian, ❑r Lender �elie�es the praspect of payment or per�ormance of the Indebtedness is impair�d. Insecurity. Lender in good faith helie�es itse�f insecure. Cure Rro�isi�ns. �f any default, other than a default in payment, is curable and if Grantor has nat been g��en a