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202100605
<br />ASSIGNMENT OF RENTS
<br />(Continued) Page 2
<br />takes in connection with this Assignment. Borrower assumes the responsibility for being and keeping informed about
<br />the Property. Borrower waives any defenses that may arise because of any action or inaction of Lender, including
<br />without limitation any failure of Lender to realize upon the Property, or any delay by Lender in realizing upon the
<br />Property. Borrower agrees to remain liable under the Note with Lender no matter what action Lender takes or fails to
<br />take under this Assignment.
<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 />determine the application of any and all Rents received by it; however, any such Rents received by Lender which are
<br />not applied to such costs and expenses shall be applied to the Indebtedness. All expenditures made by Lender under
<br />this Assignment and not reimbursed from the Rents shall become a part of the Indebtedness secured by this
<br />Assignment, and shall be payable on demand, with interest at the Note rate from date of expenditure until paid.
<br />FULL PERFORMANCE. If Grantor pays all of the Indebtedness when due and otherwise performs all the obligations
<br />imposed upon Grantor under this Assignment, the Note, and the Related Documents, Lender shall execute and deliver to
<br />Grantor a suitable satisfaction of this Assignment and suitable statements of termination of any financing statement on
<br />file evidencing Lender's security interest in the Rents and the Property. Any termination fee required by law shall be
<br />paid by Grantor, if permitted by applicable law.
<br />LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in
<br />the Property or if Grantor fails to comply with any provision of this Assignment or any Related Documents, including but
<br />not limited to Grantor's failure to discharge or pay when due any amounts Grantor is required to discharge or pay under
<br />this Assignment or any Related Documents, Lender on Grantor's behalf may (but shall not be obligated to) take any
<br />action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security
<br />interests, encumbrances and other claims, at any time levied or placed on the Rents or the Property and paying all costs
<br />for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such
<br />purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date
<br />of repayment by Grantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A)
<br />be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any
<br />installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the
<br />remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's
<br />maturity. The Assignment also will secure payment of these amounts. Such right shall be in addition to all other rights
<br />and remedies to which Lender may be entitled upon the occurrence of any Event of Default.
<br />DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Assignment:
<br />Payment Default. Borrower fails to make any payment when due under the Indebtedness.
<br />Other Defaults. Borrower or Grantor fails to comply with or to perform any other term, obligation, covenant or
<br />condition contained in this Assignment or in any of the Related Documents or to comply with or to perform any
<br />term, obligation, covenant or condition contained in any other agreement between Lender and Borrower or Grantor.
<br />Default on Other Payments. Failure of Grantor within the time required by this Assignment to make any payment
<br />for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br />Default in Favor of Third Parties. Borrower or Grantor defaults under any loan, extension of credit, security
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