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<br />at Lender's discretion to the Secured Debts, the costs of managing, protecting, valuating,
<br />appraising and preserving the Property, and other necessary expenses.
<br />Assignor agrees that this Assignment is immediately effective between Assignor and Lender
<br />and effective as to third parties on the recording of this Assignment.
<br />8. COLLECTION EXPENSES AND ATTORNEYS' FEES. On or after the occurrence of an Event
<br />of Default, to the extent permitted by law, Assignor agrees to pay all expenses of collection,
<br />enforcement, valuation, appraisal or protection of Lender's rights and remedies under this
<br />Assignment or any other document relating to the Secured Debts. Assignor agrees to pay
<br />expenses for Lender to inspect, valuate, appraise and preserve the Property and for any
<br />recordation costs of releasing the Property from this Assignment. Expenses include, but are not
<br />limited to, attorneys' fees, court costs and other legal expenses. These expenses are due and
<br />payable immediately. If not paid immediately, these expenses will bear interest from the date
<br />of payment until paid in full at the highest interest rate in effect as provided for in the terms of
<br />the Secured Debts. In addition, to the extent permitted by the United States Bankruptcy Code,
<br />Assignor agrees to pay the reasonable attorneys' fees incurred by Lender to protect Lender's
<br />rights and interests in connection with any bankruptcy proceedings initiated by or against
<br />Assignor.
<br />9. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1)
<br />Environmental Law means, without limitation, the Comprehensive Environmental Response,
<br />Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), all other federal, state and
<br />local laws, regulations, ordinances, court orders, attorney general opinions or interpretive letters
<br />concerning the public health, safety, welfare, environment or a hazardous substance; and (2)
<br />Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or
<br />contaminant which has characteristics which render the substance dangerous or potentially
<br />dangerous to the public health, safety, welfare or environment. The term includes, without
<br />limitation, any substances defined as "hazardous material," "toxic substance," "hazardous
<br />waste," "hazardous substance," or "regulated substance" under any Environmental Law.
<br />Assignor represents, warrants and agrees that:
<br />A. Except as previously disclosed and acknowledged in writing to Lender, no Hazardous
<br />Substance has been, is, or will be located, transported, manufactured, treated, refined, or
<br />handled by any person on, under or about the Property, except in the ordinary course of
<br />business and in strict compliance with all applicable Environmental Law.
<br />B. Except as previously disclosed and acknowledged in writing to Lender, Assignor has not
<br />and will not cause, contribute to, or permit the release of any Hazardous Substance on the
<br />Property.
<br />C. Assignor will immediately notify Lender if (1) a release or threatened release of Hazardous
<br />Substance occurs on, under or about the Property or migrates or threatens to migrate from
<br />nearby property; or (2) there is a violation of any Environmental Law concerning the
<br />Property. In such an event, Assignor will take all necessary remedial action in accordance
<br />with Environmental Law.
<br />D. Except as previously disclosed and acknowledged in writing to Lender, Assignor has no
<br />knowledge of or reason to believe there is any pending or threatened investigation, claim, or
<br />proceeding of any kind relating to (1) any Hazardous Substance located on, under or about
<br />the Property; or (2) any violation by Assignor or any tenant of any Environmental Law.
<br />Assignor will immediately notify Lender in writing as soon as Assignor has reason to believe
<br />there is any such pending or threatened investigation, claim, or proceeding. In such an
<br />event, Lender has the right, but not the obligation, to participate in any such proceeding
<br />including the right to receive copies of any documents relating to such proceedings.
<br />E. Except as previously disclosed and acknowledged in writing to Lender, Assignor and every
<br />tenant have been, are and will remain in full compliance with any applicable Environmental
<br />Law.
<br />F. Except as previously disclosed and acknowledged in writing to Lender, there are no
<br />underground storage tanks, private dumps or open wells located on or under the Property
<br />and no such tank, dump or well will be added unless Lender first consents in writing.
<br />G. Assignor will regularly inspect the Property, monitor the activities and operations on the
<br />Property, and confirm that all permits, licenses or approvals required by any applicable
<br />Environmental Law are obtained and complied with.
<br />H. Assignor will permit, or cause any tenant to permit, Lender or Lender's agent to enter and
<br />inspect the Property and review all records at any reasonable time to determine (1) the
<br />existence, location and nature of any Hazardous Substance on, under or about the Property;
<br />(2) the existence, location, nature, and magnitude of any Hazardous Substance that has
<br />been released on, under or about the Property; or (3) whether or not Assignor and any
<br />tenant are in compliance with applicable Environmental Law.
<br />Island Sprinkler Supply Company
<br />Nebraska Assignment of Leases and Rents
<br />N E/4 N i c o l e. S 0000000000306603 2 N
<br />Wolters Kluwer Financial Services, Inc.°1996, 2023 Page 3
<br />Bankers SystemsTM
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