|
Loan No: 101312953
<br />ASSIGNMENT OF RENTS
<br />(Continued) Page 2
<br />CROSS - COLLATERALIZATION. In addition to the Note, this Assignment secures all obligations, debts and liabilities,
<br />plus interest thereon, of Grantor to Lender, or any one or more of them, as well as all claims by Lender against Grantor
<br />or any one or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of
<br />the Note, whether voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined,
<br />absolute or contingent, liquidated or unliquidated, whether Grantor may be liable individually or jointly with others,
<br />whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such amounts
<br />may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts
<br />may be or hereafter may become otherwise unenforceable.
<br />FUTURE ADVANCES. In addition to the Note, this Assignment secures all future advances made by Lender to Grantor
<br />whether or not the advances are made pursuant to a commitment. Specifically, without limitation, this Assignment
<br />secures, in addition to the amounts specified in the Note, all future amounts Lender in its discretion may loan to
<br />Grantor, together with all interest thereon.
<br />THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY
<br />AND ALL OBLIGATIONS OF GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED DOCUMENTS.
<br />THIS ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor
<br />shall pay to Lender all amounts secured by this Assignment as they become due, and shall strictly perform all of
<br />Grantor's obligations under this Assignment. Unless and until Lender exercises its right to collect the Rents as provided
<br />below and so long as there is no default under this Assignment, Grantor may remain in possession and control of and
<br />operate and manage the Property and collect the Rents, provided that the granting of the right to collect the Rents shall
<br />not constitute Lender's consent to the use of cash collateral in a bankruptcy proceeding.
<br />GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that:
<br />Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans, liens, encumbrances, and
<br />claims except as disclosed to and accepted by Lender in writing.
<br />Right to Assign. Grantor has the full right, power and authority to enter into this Assignment and to assign and
<br />convey the Rents to Lender.
<br />No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any
<br />instrument now in force.
<br />No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights in the
<br />Rents except as provided in this Assignment.
<br />LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no
<br />default shall have occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby
<br />given and granted the following rights, powers and authority:
<br />Notice to Tenants. Lender may send notices to any and all tenants of the Property advising them of this
<br />Assignment and directing all Rents to be paid directly to Lender or Lender's agent.
<br />Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and receive from
<br />the tenants or from any other persons liable therefor, all of the Rents; institute and carry on all legal proceedings
<br />necessary for the protection of the Property, including such proceedings as may be necessary to recover
<br />possession of the Property; collect the Rents and remove any tenant or tenants or other persons from the Property.
<br />Maintain the Property. Lender may enter upon the Property to maintain the Property and keep the same in repair;
<br />to pay the costs thereof and of all services of all employees, including their equipment, and of all continuing costs
<br />and expenses of maintaining the Property in proper repair and condition, and also to pay all taxes, assessments and
<br />water utilities, and the premiums on fire and other insurance effected by Lender on the Property.
<br />Compliance with Laws. Lender may do any and all things to execute and comply with the laws of the State of
<br />Nebraska and also all other laws, rules, orders, ordinances and requirements of all other governmental agencies
<br />affecting the Property.
<br />Lease the Property. Lender may rent or lease the whole or any part of the Property for such term or terms and on
<br />such conditions as Lender may deem appropriate.
<br />Employ Agents. Lender may engage such agent or agents as Lender may deem appropriate, either in Lender's
<br />name or in Grantor's name, to rent and manage the Property, including the collection and application of Rents.
<br />Other Acts. Lender may do all such other things and acts with respect to the Property as Lender may deem
<br />appropriate and may act exclusively and solely in the place and stead of Grantor and to have all of the powers of
<br />Grantor for the purposes stated above.
<br />No Requirement to Act. Lender shall not be required to do any of the foregoing acts or things, and the fact that
<br />Lender shall have performed one or more of the foregoing acts or things shall not require Lender to do any other
<br />specific act or thing.
<br />APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with the Property shall be for
<br />Grantor's account and Lender may pay such costs and expenses from the Rents. Lender, in its sole discretion, shall
<br />201803326
<br />
|