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201905856
<br />C. Name and Place of Business. Other than previously disclosed in writing to Lender, Grantor has not changed
<br />Grantor's name or principal place of business within the last 10 years and has not used any other trade or fictitious name.
<br />Without Lender's prior written consent, Grantor does not and will not use any other name and will preserve Grantor's
<br />existing name, trade names and franchises.
<br />12. PROPERTY CONDITION, ALTERATIONS, INSPECTION, VALUATION AND APPRAISAL. Grantor will
<br />keep the Property in good condition and make all repairs that are reasonably necessary. Grantor will not commit or allow any
<br />waste, impairment, or deterioration of the Property. Grantor will keep the Property free of noxious weeds and grasses.
<br />Grantor agrees that the nature of the occupancy and use will not substantially change without Lender's prior written consent.
<br />Grantor will not permit any change in any license, restrictive covenant or easement without Lender's prior written consent.
<br />Grantor will notify Lender of all demands, proceedings, claims, and actions against Grantor, and of any loss or damage to the
<br />Property.
<br />No portion of the Property will be removed, demolished or materially altered without Lender's prior written consent except
<br />that Grantor has the right to remove items of personal property comprising a part of the Property that become worn or
<br />obsolete, provided that such personal property is replaced with other personal property at least equal in value to the replaced
<br />personal property, free from any title retention device, security agreement or other encumbrance. Such replacement of personal
<br />property will be deemed subject to the security interest created ,by this Security Instrument. Grantor will not partition or
<br />subdivide the Property without Lender's prior written consent.
<br />Lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time and frequency for the purpose of
<br />inspecting, valuating, or appraising the Property. Lender will give Grantor notice at the time of or before an on-site inspection,
<br />valuation, or appraisal for on-going due diligence or otherwise specifying a reasonable purpose. Any inspection, valuation or
<br />appraisal of the Property will be entirely for Lender's benefit and Grantor will in no way rely on Lender's inspection, valuation
<br />or appraisal for its own purpose, except as otherwise provided by law.
<br />13. AUTHORITY TO PERFORM. If Grantor fails to perform any duty or any of the covenants contained in this Security
<br />Instrument, Lender may, without notice, perform or cause them to be performed. Grantor appoints Lender as attorney in fact
<br />to sign Grantor's name or pay any amount necessary for performance. Lender's right to perform for Grantor will not create an
<br />obligation to perform, and Lender's failure to perform will not preclude Lender from exercising any of Lender's other rights
<br />under the law or this Security Instrument. If any construction on the Property is discontinued or not carried on in a reasonable
<br />manner, Lender may take all steps necessary to protect Lender's security interest in the Property, including completion of the
<br />construction.
<br />14. ASSIGNMENT OF LEASES AND RENTS. Grantor irrevocably assigns, grants, conveys to Lender as additional
<br />security all the right, title and interest in the following (Property).
<br />A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for the use and
<br />occupancy of the Property, including but not limited to any extensions, renewals, modifications or replacements (Leases).
<br />B. Rents, issues and profits, including but not limited to security deposits, minimum rents, percentage rents, additional
<br />rents, common area maintenance charges, parking charges, real estate taxes, other applicable taxes, insurance premium
<br />contributions, liquidated damages following default, cancellation premiums, "loss of rents" insurance, guest receipts,
<br />revenues, royalties, proceeds, bonuses, accounts, contract rights, general intangibles, and all rights and claims which
<br />Grantor may have that in any way pertain to or are on account of the use or occupancy of the whole or any part of the
<br />Property (Rents).
<br />In the event any item listed as Leases or Rents is determined to be personal property, this Assignment will also be regarded as a
<br />security agreement. Grantor will promptly provide Lender with copies of the Leases and will certify these Leases are true and
<br />correct copies. The existing Leases will be provided on execution of the Assignment, and all future Leases and any other
<br />information with respect to these Leases will be provided immediately after they are executed. Grantor may collect, receive,
<br />enjoy and use the Rents so long as Grantor is not in default. Grantor will not collect in advance any Rents due in future lease
<br />periods, unless Grantor first obtains Lender's written consent. Upon default, Grantor will receive any Rents in trust for lender
<br />and Grantor will not commingle the Rents with any other funds. When Lender so directs, Grantor will endorse and deliver any
<br />payments of Rents from the Property to Lender. Amounts collected will be applied at Lender's discretion to the Secured
<br />Debts, the costs of managing, protecting, valuating, appraising and preserving the Property, and other necessary expenses.
<br />Grantor agrees that this Security Instrument is immediately effective between Grantor and 1,ender and effective as to third
<br />parties on the recording of this Assignment. As long as this Assignment is in effect, Grantor warrants and represents that no
<br />default exists under the Leases, and the parties subject to the Leases have not violated any applicable law on leases, licenses and
<br />landlords and tenants. Grantor, at its sole cost and expense, will keep, observe and perform, and require all other parties to the
<br />Leases to comply with the Leases and any applicable law. If Grantor or any party to the Lease defaults or fails to observe any
<br />applicable law, Grantor will promptly notify Lender. If Grantor neglects or refuses to enforce compliance with the terms of the
<br />Leases, then Lender may, at Lender's option, enforce compliance. Grantor will not sublet, modify, extend, cancel, or otherwise
<br />alter the Leases, or accept the surrender of the Property covered by the Leases (unless the Leases so require) without Lender's
<br />consent. Grantor will not assign, compromise, subordinate or encumber the Leases and Rents without Lender's prior written
<br />consent. Lender does not assume or become liable for the Property's maintenance, depreciation, or other losses or damages
<br />when Lender acts to manage, protect or preserve the Property, except for losses and damages due to Lender's gross negligence
<br />or intentional torts. Otherwise, Grantor will indemnify Lender and hold Lender harmless for all liability, loss or damage that
<br />Lender may incur when Lender opts to exercise any of its remedies against any party obligated under the Leases.
<br />15. DEFAULT. Grantor will be in default if any of the following events (known separately and collectively as an Event of
<br />Default) occur:
<br />A. Payments. Grantor fails to make a payment in full when due.
<br />B. Insolvency or Bankruptcy. The death, dissolution or insolvency of, appointment of a receiver by or on behalf of,
<br />application of any debtor relief law, the assignment for the benefit of creditors by or on behalf of, the voluntary or
<br />involuntary termination of existence by, or the commencement of any proceeding under any present or future federal or
<br />state insolvency, bankruptcy, reorganization, composition or debtor relief law by or against Grantor, Borrower, or any
<br />co-signer, endorser, surety or guarantor of this Security Instrument or any other obligations Borrower has with Lender.
<br />C. Death or Incompetency. Grantor dies or is declared legally incompetent.
<br />D. Business Termination. Grantor merges, dissolves, reorganizes, ends its business or existence, or a partner or majority
<br />owner dies or is declared legally incompetent.
<br />E. Failure to Perform. Grantor fails to perform any condition or to keep any promise or covenant of this Security
<br />Instrument.
<br />K3 PROPERTIES LLC
<br />Nebraska Deed Of Trust
<br />NE/4XXXKAREN00000000002027042N Wolters Kluwer Financial Services ©1996, 2019 Bankers Page 3
<br />System STM
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