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2� 1 7�2�97
<br /> ASSIGNMEI�T �F RENTS
<br /> L�an Nv: 1�13�383D t�ontin ued� Page 2
<br /> PAYMENT AND PERFflRMANCE. Except as atherwise pro�ided in this Assignment or any R�lated Dt�cuments, Grantor
<br /> shall pay to Lender all amaunts secured hy this Assignment as they b�c�me due, and shall strictly perfarm all of
<br /> Grantar's ❑bligatians under this Assignment. Unless and until Lender exercises its right tv collect the Rents as pro��ded
<br /> heivw and so long as th�re is no default under this Assignrn�nt, Grant�r may remain in possession and control of and
<br /> operate and manage the Property and colle�t the Rents, pr�r�Eded that the granting of the right to collect the Rents shall
<br /> nat constitute Lender's �vnsent ta the use��cash callateral in a bankruptcy praceeding.
<br /> �RANT�R'S REPRESENTATI�NS AND WARRANTiES. Grantvr warrants that:
<br /> flwnership. Grantor is ent�t�ed ta recei�e the Rents free and clear �f all rights, Ioan�, liens, encumbrances, and
<br /> c�aims except as disclose� to and accepted by Lender in writing.
<br /> Right tv Assi�n. Grantar has the full right, p�wer and authority ta enter into this Assignment and ta assign and
<br /> �on�ey the Rents to L�nder.
<br /> Nv Privr Assignment. Grantor has nat pre�ious�y assigned or con�eyed the F�ents t❑ any vther person by any
<br /> instrum�nt nt�w in farce.
<br /> No Further Transfer. Gran�or wilf nat sell, assign, encumber, or othervuise dispose ❑f any ❑f Grantor's rights in the
<br /> Rents except as pro�ided in this Assignment.
<br /> LENDER'S RIGHT T� RECEIVE AND C�LLECT RENTS. Lender shall ha�e the right at any time, and e�en though no
<br /> defaul� shall ha�e occurred under this Assignment, to collect and recei�e the Rents. Far this purpose, Lender is her�by
<br /> gi�en and gcanted the following rights, ptiwe�s and authority:
<br /> Noti�e ta Tenants. Lender may send notices t� any and all tenants ❑f the Prvperty ad�ising them of this
<br /> Assignment and directing all Rents ta be paid direct�y to Lender or Lender's agent.
<br /> Enter the Property. Lender may ente� upan and take passession of th� PrapQrty; d�mand, cvlle�t and recei�e from
<br /> the tenants or from any ❑ther persons liable therefor, alf of the Rer�ts; institute and carry an alf legal proce�d�ngs
<br /> n��essary for the pr�tection of the Praperty, including suGh proceedings as may be nec�ssary ta r�ca�er
<br /> passessivn of the Praperty; collect the Rents and remo�e any tenant�r tenants or other p�rsans #r�m the Property.
<br /> Maintain th� Property. Lender may enter upon the Property ta maintain the Property and keep the same #n r�pair;
<br /> t❑ pay the c�sts ther�nf and of all ser�ices ❑f all emplayees, including their equipment, and of all continuing casts
<br /> and expenses ❑f maintaining the Pr�perty in proper repair and condition, and also ta pay all taxes, assessments and
<br /> water utilities, and the premiums ❑n fire and�ther insurance effected by Le�der�n the Property.
<br /> Camp�iance wi�h Laws. Lender may da any and all things to ex�cute and camp�y with �he laws of the State of
<br /> fVebraska and als❑ all ❑#her �aws, rules, arders, ardinan�es and requirements vf all ather ga�ernmental agencies
<br /> affecting the Property.
<br /> Leas�the Property. Lender may rent ar lease th� whole ❑r any part af the Praperty far such term ❑r terms and �n
<br /> such candit�ons as Lender may deem apprapriate.
<br /> Employ Agents. Lender may engage such agent or agents as Lender may deem appropriate, ei#he� in Lender's
<br /> name vr in Grantvr's nam�, to rent and manage the Proper�y, inc�uding the collec�ion and application of R�nts.
<br /> �ther A�ts. Lend�r may do all such other things and acts with respect to the Praperty as L�nder may deem
<br /> appropriate and may aCt exclusi�ely and solely in the p�ace and stead �f Grant�r and t❑ ha�e all Qt the powers of
<br /> Grantor far the purposes stated abo�e.
<br /> No Requirement to Act. Lender shall not be r�quired to d� any of the #oregoing acts or #h�ngs, and the fact that
<br /> Lender shall ha�e performed ❑ne ❑r more vf the fvregoing acts ❑r things shall not require Lender t❑ do any ather
<br /> specifiic a�t�r thing.
<br /> APPLlCATI�N DF RENTS. All cos#s and expenses incurred by Ler�der in cvnn�ction with the Praperty shall be for
<br /> Grantor's a�cvunt and Lender may pay such cvsts and expenses from the Rents. Lender, in its sole discr�tion, shall
<br /> det�rmine the app���ation of any and all Rents recei�ed by it; hawe�er, any such Rents re�ei�ed by Lender which are
<br /> not applied #o such cvsts and expenses shall be applied t❑ th� Indebtedness. Aii expenditures made hy L�nder und�r
<br /> this Assignment and not r�imburs�d fram the Rents shall become a part ❑f the Indeht�dness secured by this
<br /> Assignment, and shall be payable �n d�mand, with interes� a#the Note rat� from date ❑f expenditure unti! paid.
<br /> FULL PERF�RIVIANCE. I� Grantor pays all of the Endebtedness when due and atherwise p�rfarms all the ob��gations
<br /> impvsed up�n Grantor under this Assignment, the Nvte, and the Related Do�uments, Lender shall execute and deli�er to
<br /> Grantvr a suitable satisfaction of this Assignment and suitable statements of�ermination of any financing statement on
<br /> file e�idencing Lender's security interest in the Rents and the Praperty. Any terminativn fee required by law shal� be
<br /> paid by Grant�r, if permitted by appli�able law.
<br /> LENDER'S EXPENOITURES. lf any actian or pr�ceeding is commenced that ►rvould mater�ally affect Lender's inter�st �n
<br /> the Praperty❑r if Grantar#ail� t� comply with any p�o�isian❑�this Assignment ar any Related Documents, including but
<br /> nvt limitecf t❑ Grantor's fai�ure t� discF�arge or pay v+rhen due any amaunts �rantar is required to discharge or pay under
<br /> thEs Assignment or any Related Documents, Lender ❑n Grantor's behalf may �hut shall not be abfigated to� take any
<br /> actian that Lende� deems apprapriate, incSuding but nat limited to discharging or �aysng aS� taxes, liens, security
<br /> interests, encumbrances and other claims, at any time le�ied ❑r placed on the Rents or the Property and paying all costs
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