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2� 17�23� 1
<br /> ASSI�NMENT �F RENTS
<br /> �Cant�nued} Rage 2 �
<br /> Enter the Property. Lender may �nter upon and �ake possessian ❑f the Prop�rty; demand, colfe�t and reeei�e �rom
<br /> the tenants ❑r from any other pers�ns fiab�e th�r�for, all �f the Rents; institute and carry an all I�gal prac�edings
<br /> neGessary for the prot�ction af the Property, in�luding such proce�dings as may be necessary to r���ver
<br /> possession o#the Property; collect the Rents and remo�re any tenant❑r tenants or othe�pe�sans from�he Prvperty.
<br /> Maintain the Property. Lender may en�er upan the Property to maintain the Prvperty and keep the same in repair;
<br /> to pay the costs there�f and a� all ser�i�es of all employees, inGluding �heir equipment, and of all cont;nuing casts
<br /> and expenses of maintaining the Property in proper repair and c�ndition� and also to pay al1 taxes, assessments and
<br /> water utilities, and the prerniums on fire and other insurance effected by L�nder on the Property.
<br /> Campliance wi�h Laws. Lend�r may d� any and a�l things to execut� and comply with �he iaws of the 5tate af
<br /> N��raska and also aif other laws, rules, orders, ordinances and requirements ❑� all other governmental agencies
<br /> a��ecting the Property,
<br /> Lease the Property. Lender ma� �ent ar �ease the whole �r any par# of the Pr�perty #or such te�m or terms and ❑n
<br /> su�h�anditions as Lender may deem appropriate.
<br /> Employ i4gent�. Lender may engag� such agent ar agents as Lender may deem appropriate, either in Lender's
<br /> name or in Grantor's name, t� rent and manage the Praperty, inc�uding the call�ction and applicatian o�Rents.
<br /> �ther Acts. Lender may do all such other �hings and acts with respeet to the Property as Lender may deem
<br /> appropriate and may act exc�usively and solely in the plac� and stead of Grantor and t� ha�e all of the p�wers �f
<br /> Grantor far the purposes stated above.
<br /> Nv Requir�ment ta Act. Lender shall n�t �ae required t� d❑ any of the ��regoing acts ar things, and the faGt that
<br /> Lender shail hav� psr#ormed ane or rnore of the foregoing acts or thin�s shall not requir� Lender to do any �ther
<br /> specific act�r thing.
<br /> APPLlCATI�N �F RENTS, All ��sts and expenses in�urred by Lender in connection with �he Property shali be for
<br /> �rantor's account and Lend�r may pay such cvsts and expenses from the Rents. Lender, in its sole discretion, shall
<br /> determine the applicati�n af any and all Rents received by i�; howe�er, any such R�nts receiWed bY Len�ler whi�h are
<br /> not applied to such costs an� expenses shall be appl�ed t❑ the ]ndebt�dness. AI! expenditures mad� by Lender under
<br /> this Assignment and not reimbursed fram �he Rents shall become a part of the lndebt�dness secured by this
<br /> Assignment, and shall be paya�le on demand, with interest at#he Note rate from date of expenditure until paid.
<br /> FULL PERF�RMANGE. If Grantor pays all af the Indebtedness wh�n due and otherwise perfarms a!� #he ob�igatians
<br /> �mposed upon �rantor und�r this Assignment, the Nate, and the Related Documents, Lender sha�l execute and deli�er tQ
<br /> Grantor a suitable satisfaction of this Assignment and suitable sta�ements af terminati�n of any financing statement on
<br /> �ile e�i�lencing L�nder's security interest in �he Rents and the Property. Any termination f�e required ay law shall be
<br /> paid by Grant�r, if permitt�d by applicahle law.
<br /> LENDER'S EXPENDITURES. lf any actian ❑r proc��ding is commenced that would mat�rialiy a##ec� Lender's int�rest in
<br /> the Praperty or'tf Grantar fails ta comply with any pra�ision❑f this Assignm�nt or any R�lated Documents, includin� but
<br /> not limited to Grantar's failure to discharge or pay when due any amounts Grantor is required t❑ discharge or pay under
<br /> this Assignm�nt or any Related D�cuments, Lender an �rantor's hehalf may {but shall not be obligat�d to} take any
<br /> a�tion that Lender deems apprapriate, inc�uding but n�t limEted t� discharging ar paying all taxes, lisns, s�Gurity
<br /> interests, encumbrances and other claims, at any time l�vied❑r Rlacsd fln th� Rents or the Praperty and paying all cos��
<br /> far insuring, maintaEning and pr�ser�ing the Property. All such exp�nditures in�urred tir paid by Lender for such
<br /> purposes will then bear int��est at ths ra�� charged under the N�te fr�m the date incurred ar paid by Lender to the date
<br /> of repayment by �rantar. All such expenses wift become a part of the Indeb�edness and, at Lender's ❑ption, wil� {A}
<br /> be payable on �emand; �B} be added to the balanGe of the Nate and be app�rti�ned among and be payable with any
<br /> installment payments ta b�come due during eEther [�} the term of any applicable insuranc� policV; or {2} the
<br /> remaining term of the Note; or �C} be treated as a balfoan payment which wi�l be due and paVahl� at th� Note's
<br /> maturity. The Assignment also wil! secure payment��these amounts. 5uch right shall be in addition to afl ather rights
<br /> and remedies t❑whi�h Lender may be�n�itled upon D�fault.
<br /> DEFAULT. Each of the f�llavving, at Lender's❑ption, shall c�nstitute an Event vf De#au�t under this Assignment:
<br /> Payment Default. �rantar fails t❑ make any paym�nt wh�n due under the Indebtedness.
<br /> �#her Defaults. �ran��r fails to comply WEtfl ❑r t� per�rarm any ather term, obl�gatianr GOVEC18Cl� ar conditian
<br /> contained in this Assignment or in any flf the Related Dacuments ❑r ta comply wi�h or to perf�rm any term,
<br /> obligatian, �o�enant�r c�ndition cantained �n an� other agreement b�tween Lend�r and Grantar.
<br /> Qefault on �ther Payments. Failure af Grantar within the time required by this Assignment ta make any payment
<br /> far tax�s or insuran��, o�any other payment necessary t❑ prevent filing of or ta effect discharge ot any lien.
<br /> Qefau[t in Fa�ar af Third Parties. Any �uarantor or Granto� defaults under any loan, extensian of credit, security
<br /> agreem�nt, purchas� vr sales agreement, or any other agreement, in�a�or of any other creditor ar persan that may
<br /> materially affect any of any guarant�r's or Grantor's praperty or ability to p�rform�heir resp�ctive obligations under
<br /> this Assignrnent or any of the R�lated Documents.
<br /> False Statemen�s. Any warranty, representati�n or statement made �r furnished to Lender by Grantar �r on
<br /> �rant�r's behalf under this Assignment ar the Reiated Qocuments is false �r misleading in anY material resp��t,
<br /> ��ther now ar at the time made or furnished�r�e�omes�alse flr misleading at any time thereaft�r.
<br /> DefectiWe �ollaterali�atiQn. This Assignment ar any of th� Related Documents ceases t� be in full force and e��ect
<br /> {inG�uding failure a# any coflateral d�cument t❑ �reate a valid and perfecfied security interest ar lien} at any#ime and
<br /> ��r any reasQn.
<br /> � �
<br /> Death or lnsolvency. The diss�luti�n �r termination of �rantor� ex�stence as a going bu�Eness �
<br /> � the insalvency af �rantor, �he appointmen� �f a receiv�r for anV part of Grant�r's property, any
<br /> assignment for the benefit of creditars, any type of �redit�r workout, �r the commencemen� of any pr�cee�ing
<br /> under any aankrupt�V or ins�l�ency faws by�r against Grantor.
<br /> Creditor or Forfeiture Proc�edings. Commencement af for�closure or forfeiture proceedings, whether by judicial
<br /> proGeeding, self-help� repassession or any�th��method, by any credit�r of Grant�r or by any gv�ernmental agen�y
<br /> agains# the Rents ar any property secur�ng the ln�ebtedness. This includes a garnishment of any of Grant�r's
<br /> accaunts, includin� deposit accounts� with Lender. H�wever, this Even� ❑f Default shall nflt apply if there is a
<br /> good faith dispute by Grantar as to the validity or reasonabfeness vf the cfaim which is the basis of the creditor or
<br /> forfeitur� proceedEng and if�rantar gi�es Lender written notice of the �redit�r❑r forfei�ure proceeding and deposits
<br /> with Lend�r monies or a surety hand f�r the cr�dit�r or f�rfeiture praceeding, in an amount det�rmined by Lender,
<br /> in its sale discretion� as being an adequa#e reserve or bond for the dispute.
<br /> Rraperty Damag�or Loss. Th� Praperty is lost, stoien, substant�a�ly damaged, sold, �r borrowed against.
<br /> E�ents ►4f#e�ting Guarantor. Any vf the prec�ding �vents occurs with respect ta any Guarantor of any o# the
<br /> Indebtedness ❑r any Gua�ant�r dies ❑r becomes incomp�tent, or reWokes ar disputes the validity ❑f, ❑r liabiiity
<br /> under, any Guaranty�f the Indebtedness.
<br /> Adverse Change. A material adverse change o�curs in G�antor's financial candition, or Lender belie�es the
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