� 2� 17�2354
<br /> ASSIGNMENT �F RENTS
<br /> Loan N�: ��13�4�31 ��or�tinue�[� Pa�e 2
<br /> HUNaRED T�111'q �4��.QD} FEET; THENCE DEFLECT[NG Ri�HT °�U°��'�Q" AND RUNNING
<br /> S�UTHERLY, PARALLEL �I1l�TH THE �'EST LINE CyF SAID 'UIJEST HALF �F THE
<br /> N�RTH�111'EST QLJARTER t�lU�12 NV11��4�, A D15TAN�E C]F THREE HLJNDRED 51�TY �NE
<br /> t3�1.��} FEET; THENCE DEFLECT�NG RI�HT 9�°��'C��"' AND RUNNING 1NE5TERLY, A
<br /> DISTANCE �F FDUR HUNDRED TV1l� {4�2.�a} FEET T� THE P�INT DF BEGINNIN� ANa
<br /> C�NTA�N�NG 3.33� ACRES, ftill�RE �R LESS
<br /> The Property or �ts address �s �ommanly kno�vn as NE.
<br /> CR�SS-C�LLATERAL[ZATl�N. [n addition ta �he Note, this Assignment secures all obf�gations, d�bts and [iahili�ies,
<br /> p�us interest thereon, o� either G�antar or Borrow�r t� L�nder, or any one ar more o� �hem, as wel[ as all claims by
<br /> Lender against Borro►n�er and Grantar ar any ane �r more of them, whether naw exis�ing ❑� herea�ter arising, whether
<br /> re[ated �r unrelated fio �h� purpose of �he Note, whe�her �oluntary ❑r o�herwise, whether due or na�t due, direct or
<br /> indire�t, de�ermined ❑r undetermin�d, abso�ute �r c�ntingent, liquida�ed or unliquidated, whether Borrower ❑r �ranfior
<br /> may be liable indi�idually or �o�ntly with others, whe�her obligated as guaran�or, sure�y, accommoda�ion party or
<br /> otherwise, and whether reco�ery upon such amaunts may �e or hereafter may be�ome barred by any statut� vf
<br /> limitations, and whe�her the ❑�ligation to repay such amounts may be ❑r h�reaf�er may becam� otherwise
<br /> unenfarceable.
<br /> FUTURE ADVANCES. In addi�ion to the Note, this Assignment secures all fu�ure advances made by Lender t❑ garrow�r
<br /> or Grantor wh�th�r or not �he ad�ances are made pursuant �o a commitment. 5pec��i�ally, without limi�a�ian, this
<br /> Assignmen� secures, in addi�ion t� the amoun�s spe�ified in the No�e, all futur� amoun�s Lender in i�s discretion may
<br /> loan�❑ Borr�wer❑r Grantor,�oge�her wi�h all interest thereon.
<br /> TH[S ASSIGNIVIENT IS GIVEN T� SECURE ('[} PAYIVIENT C�F THE 1NDEBTEI]NESS AND �2} PERF�RMANCE �F ANY
<br /> AND ALL 4gL1GATIQNS �F B�RR�VIIER AND GRANT�R EJNaER THE NaTE, TH1S ASSI�NIV[ENT, AND THE RELATED
<br /> ❑�CL1N[ENTS. THiS ASSIGNMENT 1S �IVEN AND ACCEPTED ❑N THE F�LLDWING TERMS:
<br /> GRANTDR'S 1NA�VERS. Grantar wai�es al[ rights or defenses arising by reas�n afi any "one action" o� "anfii-de��cien�y"
<br /> �aw, ❑r any ather law which may pr�Went Lender from bringing any action against Grant�r, including a claim for
<br /> de�iciency �o the ex�ent Lender is ❑therwise en�ifiled ta a claim for deficiency, befare or after Lender's cammencemen�
<br /> or comple�ivn of any fvreclosure actian, either judi�ially or by exercise of a power of sale.
<br /> BQRR�VtilER'S V�lA[VERS AN❑ RESPONSIBILITlES. Lender need not�ell Borrower abaut any action ar Ena��ion Lender
<br /> �akes in connect�on with �this Assignm�n�. Borrawer assumes the responsibi��ty for being and I�eepEng informed about
<br /> �he Prope�ty. ��rr�w�r wai�es any defenses that may aris� because of any action vr inac�ion ❑f Lender, including
<br /> wi�hout limitation any failure of Lender �o reai��e upon the Property, or any delay by Lender �n realizing upon the
<br /> Prvper�y. Borrawer agrees ta remain [iab�e under the Note wi�h Lender n� ma��er wha� ac�ion Lender takes ar fai�s ta
<br /> �ake under�his Assignment.
<br /> PAYMENT AND PERFaRMANCE. Excep� as vtherwise pro�id�d in this Assignment or any Reia�ed ❑�cum�n�s, Gran�ar
<br /> shall pay to Lender a[[ amounts secured by this Assignmenfi as they become due, and shall strictly perfiorm all n�
<br /> Grantor's obliga�ions under�his Assignment. Unless and un�il Lender exercises its right�� coilec��he Rents as pro�ided
<br /> below and so E�ng as -�here is no default und�r�his Assignment, Grantor may remain in possession and can�rol of and
<br /> op�ra�e and manage fihe Proper�y and collec�the Rents, pro�ided fha��he granting �fi�he righfi to cvllecfi the Rents shall
<br /> nnt const�tute Lender's consen-�-�o the use o��ash �ollateraC �n a bankruptcy proceeding.
<br /> GRANT�R'S REPRESENTATI�NS AND WARRANTIES. Grantor wa�rants tha�:
<br /> Ownership. Grantvr is en�i�led �a recei�e the Renfis free and �lear ❑f all rights, €oans, liens, en�umbran�es, and
<br /> claims except as discj�s�d�❑ and accepted by Lender in vvriting.
<br /> Right to Assign. Grantor has �he full righ�, power and authority t� en�er in�o �his Assignmen� and to assign and
<br /> con�ey�he Rents ta Lender.
<br /> Nv Prior Assignmen#. Gran�or has n�t pre�iously assigned ❑r c�nveyed the Ren�s to any other person by any
<br /> instrument now in�orce.
<br /> Na Fur#h�r Trans�er. Gran�or will nat se��, assign, en�umber, or o�herwise dispose of any of Grantor's rights in the
<br /> Ren�s excep�as pro�ided in�his Assignmen�.
<br /> LENDER'S R[GHT TD RECEIVE AND C�LLECT RENTS. Lender shall ha�e �he righ� a� any time, and e�en fih�ugh no
<br /> default shall ha�e occurred under�his Assignment, to ca[lect and re�ei�e the Rents. For-this purpase, Lender is hereby
<br /> gi�en and granted�he fioll�wing righ�s, powers and au�hari�y:
<br /> Noti�e �o Tenants. Lender may send notices ta any and all tsnan�s o-F the Property ad�isin� �hem ❑� this
<br /> Assignment and direc�ing a[� Rents to b� paid direc�ly�❑ Lender ar Lender's agen�.
<br /> Enter th� P�oper�y. Lender may enter upon and take pnssession af the Praperty; demand, collect and rec�i�e from
<br /> the tenants or fram any flther persons liable there�ar, all o��he f�ents;.ins�i�u�e and carry an all �egai proceedings
<br /> necessary �o� the protectivn vf fhe Pr�per�y, inc�ud�ng such proceedings as may be necessary t� re�o�er
<br /> possession�fi the Property; co�iec�the Ren-�s and rema�e any�enan�or�enants �r a�h�r p�rsons�ram the Prop�rty.
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