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2� 17�2�99 ASSI�NMENT �F RENTS Loan Nv: 1�1344�� C�rltinu�d� Page 2 AN❑ ALL DBLIGATI�NS �F GRANT4R UNDER THE N�TE, THlS AS5IGNMENT, AND THE RELATE� D��UMENTS. TH15 ASSEGNMENT ES GIVEN AND ACCEPTED ❑N THE FQLL�WING TERNiS: � PAYIVIENT AND PERF4RMANCE. Except as atherwise proW�ded in this Assignment or any Related Documents, �rantar shall pay tv Lender all amounts secured by this Assignment as they became du�, and sha�l strictly perform all of G�antor's obligatians under this Assignment. Unl�ss and until Lender exercises its right t❑ collect the R�nts as pro�ided b�low and so long as there is n❑ d�fauit under this Assignm�nt, Grantor may remain in pass�ssion and contral of and vperate and manage the Property and collect the Rents, prv�ided that the granting of the right tv call�ct the Rents shalE nat constitute Lender's cansent to the use❑f�ash collateral �n a bankruptcy proceeding. GRANT�R'S REPRESENTATI�NS AND VIIARRANT�ES. Grantor warrants that: �wnership. Grantor is entitled t❑ rec�i�e the Rents free and ��ear of all rights, loans, fiens, enGumbrances, and claims except as disclosed ta and accepted by Lender in writing. Right �o Assign. Grantor has the full right, power and authority to enter into this Assignment and t❑ assign and con�ey the Rents tv Lend�r. No Prior Assignmant, Grantar has not pre�iously assigned or con�eyed the Rents ta any other persan by any instrument now in force. Na Further Transfer. �rantor will nvt sell, assign, encumber, vr❑therwise dispose of any af Grantor's rights in the Rents exc�pt as pr��ided in this Assig�ment. LENaER'S RIGHT TQ RECEIVE AND C�LLECT RENTS. Lender sha�� ha�e the right at any time, and e�en though no default shall ha�� ccurred under this Assignment, to collect and recei�e the Rents. For this purpose, Lender is hereby gi�en and granted the following rights, powers and autharity: Notice #o Tenants. Lender may send notices to any and all tenants of the Property ad�ising them vf this Assignment and directing all �ents to be paid dire�t�y to Lender❑r Lender's agent. Enter the Property. Lender may enter upon and take p�ssessivn ❑f the Property; d�mand, collect and r��e��e f�om the tenants or �rom any ❑thsr p�rsons liabie there��r, a(I of the Ren�s; institute and carry an al� �egai proceedings necessary far the prote�tivn of the Pr�perty, inciuding sucf� pr�ceedings as may be necessary to reca�er possession of the Property; callect the Rents and remor�e any tenant or tenants or other persons from the Property. IVlaintain the Property. Lender may enter upon fihe Property ta mainta�n the Property and k�ep the same in repair; ta pay the casts thereof and vf all ser�ices ❑f afl employees, including their equipm�nt, and �f aEi cantinuing casts and expenses of maintaining the Praperty in proper repair and condition, and also #❑ pay al�tax�s, assessments and ►rvater utilities, and the premiums on �ire and other insurance ef�ected by Lender❑n the Property. Campiiance with Laws. Lender may dv any and all things to execute and camply with the laws of the 5tate a# Nebraska and also all ather laws, rufes, ❑rders, ordinan�es and requirsments of all ather ��rnm�ntal agen�ies affecting the Property. Lease the Property. Lender may rent or lease the whole ar any part ot the Pr�perty for such term or terms and ❑n such conditions as Lender may deem apprapriate. Employ Agents. Lender may engage su�h agent or agents as Lender may deem apprapriate, either in Lender's name or in Gran�or's name, to rent and manage the Praperty, inctudin� the collectivn and applicatian o# Rents. �ther Ac#s. Lender may da all such other things and aGts with �espect to the Prap�rty as Lender may deem appr�priate and may act �xclusi�ely and salely in the pla�e and stead �f Grantnr and to ha�e all of the powers of Grantar far the purpvses stated abv�e. Na Requirement to Act. L�nder shall not be required to d� any of the forego�ng acts or things, and the fact that Le�der sha�� ha�e performed one o� more of the tvregoing a�ts vr things shail n�t requEre Lender tv d❑ any other specific act�r thing. APPLICATI�N flF RENTS, All costs and �xpenses in�urred by Lender in conne�tian with the Property sha�l be fvr Grantor's acc�unt and Lender may pay such C05t5 and expenses fram the Rents. Lender, in its sa�e discretion, shall determ#ne the applicati�n ❑� any and all Rents recei�ed by it; howe�er, any such Rents re�ei�ed by Lender which are nflt appiied to such casts and expenses shall be applied t❑ the Indebtedness. All expendstures made by Lender under this Assignment and not reimbursed fram the Ren#s shall becom� a part of the Indebtedn�ss se�ured by this Assignment, and shall be payable on demand, with inter�st at the N�te rate from date af�xpenditure untii paid. FULL PERF�RIVIAN�E. If Granto� pays all of the Indebtedness when due anc� otherwise performs all the obl�gations imposed upan Grant�r und�r this Assignment, the Note, and the Related �ocuments, L�nder shall ex�cute and deli�er to Grant�r a suitable satisfactian ❑f this Assignment and suitable statements of terminat�on t�f any financing sta#ement an file eviden�ing Lende�'s security interest in the Rents and the Praperty. Any termination fee required by law shai� be paid by Grantor, if permitted by appli�able law. LENDEl�'S EXPENDITURES. I� any action or pro�eeding is �vmm�nced that would materially affe�t Lender's interest in the Pr�perty or if Grant�r fails to camply with any prv�ision af this Assignment❑r any Refated Documents, inc�uding but not limited to Grantar's failure to discharge or pay when due any amflunts Grantvr is required ta discharge or pay under �his Assignm�nt or any Related Documents, Lender on Grantor's behalf may �but shafi nat be ob�igated toy take any