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2� 17�2�94 ASSlGNMENT ��' �ENTS Loan Nv: ��383Q ��ntinued� Page � AND ALL Q�LIGATIDNS flF GRANTDR IJNDER THE NQTE. THI� ASSIGNMENT, ANC] THE RELATEQ C]C�CUMENTS. THIS ASSIGNMENT IS GIVEN AND ACCEPTED QN THE F�LLn1JVIN� TERMS: PAYIVIENT AND PERFURMANCE. Except as otherwise prvvided in this Assignmen# or any Related Documents, Grantvr shali pay to Lender all amounts secured by this Assignment as they becvme due, and shall stri�tly per�orm all Q� Grantar's �bligativns under this Assignment. Unl�ss and unti� Lender ex�r�is�s its ri�ht tv �Q�lect the Rents as pra�ided below and sa long as ther� is na d��ult under this Assignment, Grant�r may �emain in p�ssessi�n and contral ot and operate and manage the Property and collect the R�nts, pro�ided that tihe granting ❑f th� right to c�liect th� Rents shal! nnt constitu�e L�nder's �onsent t�o the use ❑f cash collateral in a hankruptcy proceeding. GRANT�R'S REPRESENTATI�NS AND VIJARRANT�ES, Grantar warrants that: �wnershi�, �rantor is entitied tc� receE�e the Rents free and clear vf all rights, loans, liens, encumbrances, and claims excep��s dis�losed ta and accepted by Lender in writing. Right to Assign. Grantar has the full right, pawer and authari�y tfl enter into this Assignment and to assign and con�ey the Rents tv Lender. No Prior Assignment. Gr�ntor has nat pre�iaus�y ass�gn�d or cvn�eyed the Rents to any other �ersvn by any instrument now in force. N❑ Further Transfer. Grantor will not selt, assi�n, en�umher, ar atherwise dispose of any af Grant�r's ric�hts in the Rents except as pro�id�d in this Assignment. LENDER'S RIGHT TD RE�EIVE AND C�LLECT RENTS. Lender shall ha�e th� right at any time, and ��en thaugh no default shall ha�e ❑ccurred under this Assignm�nt, t❑ c�llect and recei�e the R�nts. F�r this pu�pase, L�nder is hereby giWen and grar�ted the fvlltiwing r�ghts, powers and authority: Notice tv Tenants. Lender m�y send noti�es to any and all t�nants of the Property ad�ising them of this Assignment �nd dire�ting ail f��nts to be paid directly to L�nder or Lender's agent, En#er the Proper#y. L�nder may enter up�n and take possessior� vf the Praperty; demand, co�lect and recei�e �ram the tsnants or fram any ather persons �;able therefor, all ❑f the Rents; institute and carry on all legal prQceedings nec�ssary far the protectian �f the F�roperty, �ncluding such prace�dings as may be necessary ta reco�er possessi�n of the Property; cQlle�t the Rents a�nd remave any tenant vr tenants �r❑ther persons from th� Property. IVlaintain the �rvperty. Lend�r may enter upon �h� Property to maintain the Pra�erty and keep the sam� �n repair; to pay the costs thereof and of all services o� all empiayees, in�l�ding the�r equipm�nt, and �f all cantinuing Ca5t5 and expenses of mainta�ning the Praperty in praper repair and conditian, and also �o pay all taxes, assessments and water utilities, and the prem�ums on fire and ath�r insu�ance eff�cted hy Lend�r c�n the Praperty. Compliance with Laws. Lender may da any and all thin�s to execute and comp�y with the laws of the State of Nebraska and ass❑ all �ther �aws, rules, �rders, ordinanGes and requirements af all �ther ga�ernm�ntai agenci�s affe�ting the Property. Leas�the PrQperty. Lender may r�nt vr lease i�he whvle ar any part �f the Pro�aerty for such t�rm ar terms and on such cvnditians as Lender may deem appropriate. Em�loy Agents. Lender may engage such agent ❑r agents as Lender may deem a�propriat�, either ir+ Lender's name ar in Gran�ar's name, to r�n�and manage th� F'rvp�rty, includin� the callection and app��ation �f R�nts. ❑ther Acts. L�nder may d� all su�h other things and acts with respect ta the Praperty as Lend�r may d�em a�propriate and may act ex�lusi�ely and s�lely �n th� plac� and stead vf Grantar and to ha�e all af the powers af Grantor far the purpvses stated abv�e. No Requirement to Act. Lender sha!! not be required to dv any of the faregoing acts or things, and the fact tha� Lender shall ha�e performed one or mvre of the foregoing acts or things shalf nat require L�nder ta dfl any other speci�ic act or�thing. APPLICATfQN �]F RENTS. All c�sts and exp�nses incurred by Lender in conr��ction with the Prop�rty shall be far Grantar's accaunt and Lender may pay su�h ��Sfis and expen�es from the Rents. Lender, in its sale discretivn, shall determine the application vf any and all Rents r�cei�ed by it; h�we�er, any suGh Rents recei�ed by Lend�r which are not applied to such C�5t5 and expenses shail be applied ta the Indehtedness. All expenditures made by Lender under this Assignment and nvt reimbursed from the Rents shall �ecome a part nf the indeb�edness secured �y �his Assignment, and shall be payable on demand, with in��r��t at the Note raxe from date af�xpenditure until paid. FULL PERF(3RMANCE. If Grantar pays all of the Indebtedness when due and �therwiSe perfarms ai� the obligations imR�sed upan Grantar under this Assignment, the Nat�, and the Relat�d Dvcum�nts, Lender shali execu�e and deli��r ta Grantor a suitabl� satisfaction of th�s Assignment and suitabl� statements of t�rmination o� an�financing statement an file e�idencing L�nder's security interest in th� Rents and �he Property. Any terminati�n fee required by law sha(� be paid by Grantor, if permitted by applicable�aw. LENDER'S EXPENC7ITURES. If any action ❑r proce�ding is commenc�d that w�uld mat�rially affect Lender's interest in the Prflperty ar if Grantor fails t❑ camply with any prn�ision �f this A��ignment ar any f��lated avcuments, including but n�t limit�d to Grantor's �ailure ta discharge or pay when due any arnounts Grantor €s required ta discharge or pay under this Assignment ❑r any Re�at�d Documents, Lender vn Grantvr's behaif may ��ut shall nvt be vbligated to7 take any