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� � 2� 17�2335 ASS�GNMENT �F RENTS Lvan No: 'I��3�39�� Continued} Page 3 paid by Grantor, i�permitted by appiicab�e law. LENDER'S EXPEND[TURES. If any ac�ion ❑t�praceeding is c�mm�n�ed that would ma�erially affect Lender's interest in the Property or if Grantor fails to comply wi�h any pra�isian ❑f�his Assignmen�❑r any Rela�ed ❑ocuments, including bu� not�imi�ed�❑ Granfior's failure t❑ discharge or pay when due any amounts Grantor is required tv dis�harge ❑r pay under this Assignmen� or any Rela�ed ❑ocumen�s, Lender on Grantor`s behalf may {bu� shall nat �e ❑bligated �a} take any activn that Lender deems apprapria�e, in�luding hut not [imited to discharging or paying all taxes, liens, security interests, encumbrances and o�her claims, at any�time IeWied or placed vn�he Rents or�he Property and paying ali cos�s for insuring, maintaining and preser�ing the Property. All such expenditures incurred ❑r paid 1�y Lender for such purpases wi�l�hen bear inferest at the rafi� charged under�he Note�rom the date incurred �r paid by Lender�❑the date vf repaymen� by Gran�or. A1� such expenses will bec�me a par� of the Indelatedness and, at Lende�-'s optian, wil[ �A� be payable ❑n demand; �B} be added t❑ �he balance ❑f the Note and be appor�ioned among and be payable with any ins�allment paymen�s to becom� due during �ifiher {�� the term of any applicabfe insuran�e po[icy; ❑r �2} the remaining �erm ❑f the No��; ❑r �C} 1ae treated as a ba�loon paym�nt which will be due and payable a� �he Na�e's maturity. The Ass�gnment als❑ will secure payment❑f these amvun�s. 5u�h right shall be in addition t❑ all ofih�r rights and remedies to which Lender may be enti�led upon Defaul�. DEFAULT. Ea�h o�the�allowing, at Lender's ❑ption, shall cons�i�u�e an E�en�❑f�efault under�his Ass��nm�nt: Payment Defau[t, Grantor fails t❑ make any paymen�when due under the �nde�tedn�ss. D�her T3e�au[ts. Granfivr fiails ta �vmply with or �❑ p�rform any other te�m, ab�igation, co�enan� ar condifiion con�ained in �his Assignment or in any of the Rela�ed Documents or to comply wi�h or to perform any term, ❑bliga�ion, �o�enant or condition contained in any❑�her agreement between Lender and Gran�ar. ❑efault ❑n �#her Paym�nts. Fai[ure of Grantor within�he time requEred by this Assignment to make any paymen� for�axes vr insurance, �r any❑ther paymen�necessary to preWen�filing vf ar to effect discharge❑�any lien. Fa1se 5�atements. Any warranfiy, representation �r statemen� made or �urnish�d �a Lender by G�rantor �r on Gran�or's i�ehal� under this Assignment �r�he Reiated D�cumen�s is �alse ❑r misleading in any materia[ respect, ei�her now or at�h�time made or furnished or bsc�mes fialse or misleading a�any tim�fihereafter. De#ective Golla#erai�zat"ron. This Assignmenfi or any❑fi the Rela�ed ❑acumen�s ceases to lae in full forc� and effec� �including faifur�❑f any collafieral dacument to c�-ea�e a valid and p�rfected security interes��r lien} a�any tim� and for any reason. Death or Insvlven�y. The d�ssolutian o� G�-antvr's {regard�ess ❑� whether elec�ion fio con�inue is made}, any . member wi�fihdraws from the limified iiahi�ity cvmpany, ❑r any ather te�-minat�on of Gran�or's existencs as a ga�ng business vr the death ❑f any m�mb�r, th� insal�ency �f Granfior, fihe appvin�men� a�f a recei�er far any parfi o� Grantor's praper�y, any assignment far the hene�it ❑fi credi�ors, any type v� creditor work�ut, ❑r the commencement o�F any prv�eeding under any hankrupt�y❑r insolvency�aws by❑r agains�Grantor. Creditor vr Fvrfeiture Prviceedings. Commencemen� a� -�oreclosure or fvrfei�ure p�rviceedings, v�rhefiher 1ay judicial proceeding, self-help, repossession ❑r any ather me�hod, by any�reditor❑f Grantor❑r by any gaWernmen�a� agen�y against �he Ren�s or any property securing the �ndebfiedness. This in�ludes a garnishment o� any ofi Grantvr's accounts, inc[uding dep�sit accoun�ks, wi�kh Lender. Howe�er, this Event ❑� Defaul� sha[[ not apply if �here is a good fai�h dispute by G�-anfior as fio fihe �alidity or reas�nableness ❑f the claim whi�h is fihe hasis of the credi�or or �ar�eiture praceeding and if Grantor gi�es Lender wri��ten nofiice❑�F fihe �redit�r�r�or-�eiture praceeding and deposits wi�kh Lender monies or a surety bond for the credifivr�r forfeiture proceeding, in an amount de�erm�ned by Lender, in its sofe discrefiivn, as 1�eing an adequate reserve vr bond for�he dispu�e. Prvperfiy Damage vr Loss. The Prvperty is lost, stalen, substantially damaged, so[d, or b�rrvwed agains�. E�en�s A#fecfing Guaranfior. Any of the preceding events accurs wi�h �espect ta any Guarant�r o� any of the lndebtedness vr any Guaran�or dies ❑r becames incarnpe�en�, vr re�okes �r disputes the �afidity of, or liabili�y under, any Guaran�y of the Indebtedness. Adverse Change. A ma�erial ad�erse change occurs in Gran�or's financial condifiion, or Lender belie�es the prospect❑fi payment or p�r�ormance of the lndeb�edness is impaired. Insecuri�y. Lender in g�od fai�h belie�es i�self insecure. Cure Pro�isions. �f any de-�au��, o�her than a default in payment, is �urable and if Gran�or has no� been gi�en a na�ice ❑�f a breach o�th� sam� proWision ❑f fihis Assignment within the preceding twelve �12} mon�hs, it may be Gured i� Grantar, a�F-ker Lender sends written notFce t❑ Granfiar demanding cure ❑f such default: {'i� cures �he defaulfi wi�hin fifteen {�5� days; ❑r {�� if the cure requires more�han�Fifteen (15} days, €mmedia�tely initia�es steps which Lender deems in Lender's sole discretion to be sufficient to cure the de�Fault and thereaf�er continues and cvmpletes aII reasvnable and necessary steps suf-�icient to produce compliance as soan as reasonai�ly prac�ical. RIGHTS AND REMEDIES �N DEFAULT. Upon the occurrence ❑f any E�ent vf De�ault and at any�ime�hereaf�er, Lender may exercise any one or mare ❑�fihe following righ�s and remedies, in addi�i�n�� any other righ�s or�-emedies provided hy law: Acce�erate lnde��edness. Lender shall ha�e �he right at i�ks �pfion to declare the enfiire lndebtedness immediately due and payabie, including any prepayment pena��y tha� Gran�or would be requi�ed ta pay.