Laserfiche WebLink
200011177 <br />Notwithstanding anything contained herein to the contrary, in no event shall this <br />Assignment be deemed to reduce the indebtedness evidenced by the Note by an amount in excess <br />of the actual amount of cash received by GE Capital under the Leases, whether before, during or <br />after the occurrence of an Event of Default, and Assignor acknowledges that in no event shall the <br />indebtedness secured hereby be reduced by the value from time to time of the rents, income and <br />profits of or from the Property. In addition, GE Capital reserves the right, at any time, whether <br />before or after the occurrence of an Event of Default, to recharacterize this Assignment as merely <br />constituting security for the indebtedness of Assignor to GE Capital, which recharacterization <br />shall be made by written notice delivered to Assignor. GE Capital's receipt of any rents, issues <br />and profits pursuant to this Assignment after the institution of foreclosure proceedings, either by <br />court action or by the private power of sale contained in any mortgage or deed of trust now or <br />hereafter securing the Note, shall not cure an Event of Default, as defined in the Note, or affect <br />such proceedings or sale. <br />This Assignment shall be governed by and construed in accordance with the laws of the <br />State of Nebraska. <br />[REMAINDER OF PAGE INTENTIONALLY BLANK; <br />EXECUTION PAGE FOLLOWS] <br />01- 288952.3A <br />Grand Island, NE <br />