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202300307
<br />ASSIGNMENT OF RENTS
<br />(Continued) Page 2
<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 Grantor fails (A) to keep the Property free of all taxes, liens, security interests,
<br />encumbrances, and other claims, (B) to provide any required insurance on the Property, or (C) to make repairs to the
<br />Property then Lender may do so. If any action or proceeding is commenced that would materially affect Lender's
<br />interests in the Property, then Lender on Grantor's behalf may, but is not required to, take any action that Lender
<br />believes to be appropriate to protect Lender's interests. All expenses incurred or paid by Lender for such purposes will
<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. Borrower fails to make any payment when due under the Indebtedness.
<br />Break Other Promises. Borrower or Grantor breaks any promise made to Lender or fails to perform promptly at the
<br />time and strictly in the manner provided in this Assignment or in any agreement related to this Assignment.
<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 Borrower or Grantor or on
<br />Borrower's or Grantor's behalf under this Assignment or the Related Documents is false or misleading in any
<br />material respect, either now or at the 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 Borrower or Grantor, the insolvency of Borrower or Grantor, the appointment of
<br />a receiver for any part of Borrower's or Grantor's property, any assignment for the benefit of creditors, any type of
<br />creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against
<br />Borrower or Grantor.
<br />Taking of the Property. Any creditor or governmental agency tries to take any of the Property or any other of
<br />Borrower's or Grantor's property in which Lender has a lien. This includes taking of, garnishing of or levying on
<br />Borrower's or Grantor's accounts with Lender. However, if Borrower or Grantor disputes in good faith whether the
<br />claim on which the taking of the Property is based is valid or reasonable, and if Borrower or Grantor gives Lender
<br />written notice of the claim and furnishes Lender with monies or a surety bond satisfactory to Lender to satisfy the
<br />claim, then this default provision will not 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 Borrower demanding cure of such default: (1) cures the
<br />default within twenty (20) days; or (2) if the cure requires more than twenty (20) days, immediately initiates
<br />steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter continues
<br />and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably
<br />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. Lender shall have the right at its option to declare the entire Indebtedness immediately
<br />due and payable, including any prepayment penalty that Borrower would be required to pay.
<br />Collect Rents. Lender shall have the right, without notice to Borrower or Grantor, to take possession of the
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