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Loan No: 101341513
<br />202204651
<br />ASSIGNMENT OF RENTS
<br />(Continued) Page 3
<br />then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment
<br />by Grantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on
<br />demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment
<br />payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of
<br />the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The
<br />Assignment also will secure payment of these amounts. The rights provided for in this paragraph shall be in addition to
<br />any other rights or any remedies to which Lender may be entitled on account of any default. Any such action by Lender
<br />shall not be construed as curing the default so as to bar Lender from any remedy that it otherwise would have had.
<br />DEFAULT. At Lender's option, Grantor will be in default under this Assignment if any of the following happen:
<br />Payment Default. Grantor fails to make any payment when due under the Indebtedness.
<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 />False Statements. Any representation or statement made or furnished to Lender by Grantor or on Grantor's behalf
<br />under this Assignment or the Related Documents is false or misleading in any material respect, either now or at the
<br />time made or furnished.
<br />Defective Collateralization. This Assignment or any of the Related Documents ceases to be in full force and effect
<br />(including failure of any collateral document to create a valid and perfected security interest or lien) at any time and
<br />for any reason.
<br />Death or Insolvency. The death of Grantor, the insolvency of Grantor, the appointment of a receiver for any part of
<br />Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the
<br />commencement of any proceeding under any bankruptcy or insolvency laws by or against Grantor.
<br />Taking of the Property. Any creditor or governmental agency tries to take any of the Property or any other of
<br />Grantor's property in which Lender has a lien. This includes taking of, garnishing of or levying on Grantor's
<br />accounts with Lender. However, if Grantor disputes in good faith whether the claim on which the taking of the
<br />Property is based is valid or reasonable, and if Grantor gives Lender written notice of the claim and furnishes
<br />Lender with monies or a surety bond satisfactory to Lender to satisfy the claim, then this default provision will not
<br />apply.
<br />Property Damage or Loss. The Property is lost, stolen, substantially damaged, sold, or borrowed against.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety,
<br />or accommodation party of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party
<br />dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the
<br />Indebtedness.
<br />Insecurity. Lender in good faith believes itself insecure.
<br />Cure Provisions. If any default, other than a default in payment, is curable and if Grantor has not been given a
<br />notice of a breach of the same provision of this Assignment within the preceding twelve (12) months, it may be
<br />cured if Grantor, after Lender sends written notice to Grantor demanding cure of such default: (1) cures the
<br />default within ten (10) days; or (2) if the cure requires more than ten (10) days, immediately initiates steps which
<br />Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues and
<br />completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.
<br />RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter, Lender
<br />may exercise any one or more of the following rights and remedies, in addition to any other rights or remedies provided
<br />by law:
<br />Accelerate Indebtedness. Subject to any requirement under applicable law to provide notice of default and
<br />opportunity to cure, Lender shall have the right at its option to declare the entire Indebtedness immediately due and
<br />payable, including any prepayment penalty that Grantor would be required to pay.
<br />Collect Rents. Lender shall have the right, without notice to Grantor, to take possession of the Property and
<br />collect the Rents, including amounts past due and unpaid, and apply the net proceeds, over and above Lender's
<br />costs, against the Indebtedness. In furtherance of this right, Lender shall have all the rights provided for in the
<br />Lender's Right to Receive and Collect Rents Section, above. If the Rents are collected by Lender, then Grantor
<br />irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments received in payment thereof in
<br />the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to
<br />Lender in response to Lender's demand shall satisfy the obligations for which the payments are made, whether or
<br />not any proper grounds for the demand existed. Lender may exercise its rights under this subparagraph either in
<br />person, by agent, or through a receiver.
<br />Other Remedies. Lender shall have all other rights and remedies provided in this Assignment or the Note or by
<br />law.
<br />Election of Remedies. All of Lender's rights and remedies will be cumulative and may be exercised alone or
<br />together. An election by Lender to choose any one remedy will not bar Lender from using any other remedy. If
<br />Lender decides to spend money or to perform any of Grantor's obligations under this Assignment, after Grantor's
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