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<br />The collection and application of the Rents or the entry upon and taking possession of the
<br />Property as set out in this section shall not cure or waive any notice of default under the
<br />Secured Debts, this Assignment, or invalidate any act pursuant to such notice. The
<br />enforcement of such remedy by Lender, once exercised, shall continue for so long as Lender
<br />shall elect, notwithstanding that such collection and application of Rents may have cured the
<br />original default.
<br />H. Waiver. Except as otherwise required by law, by choosing any one or more of these
<br />remedies Lender does not give up any other remedy. Lender does not waive a default if
<br />Lender chooses not to use a remedy. By electing not to use any remedy, Lender does not
<br />waive Lender's right to later consider the event a default and to use any remedies if the
<br />default continues or occurs again.
<br />17. TERM. This Assignment will remain in full force and effect until the Secured Debts are paid
<br />or otherwise discharged and Lender is no longer obligated to advance funds under any loan or
<br />credit agreement which is a part of the Secured Debts. If any or all payments of the Secured
<br />Debts are subsequently invalidated, declared void or voidable, or set aside and are required to
<br />be repaid to a trustee, custodian, receiver or any other party under any bankruptcy act or other
<br />state or federal law, then the Secured Debts will be revived and will continue in full force and
<br />effect as if this payment had not been made.
<br />18. FIXTURE FILING. Assignor gives to Lender a security interest in all goods that Assignor
<br />owns now or in the future and that are or will become fixtures related to the Property. This
<br />Assignment constitutes a financing statement and is to be recorded in the real estate records.
<br />19. PERSONAL PROPERTY. Assignor gives to Lender a security interest in all personal property
<br />located on or connected with the Property, including all farm products, inventory, equipment,
<br />accounts, documents, instruments, chattel paper, general intangibles, and all other items of
<br />personal property Assignor owns now or in the future and that are used or useful in the
<br />construction, ownership, operation, management, or maintenance of the Property (all of which
<br />shall also be included in the term Property). The term "personal property" specifically excludes
<br />that property described as "household goods" secured in connection with a "consumer" loan as
<br />those terms are defined in applicable federal regulations governing unfair and deceptive credit
<br />practices.
<br />20. APPLICABLE LAW. This Assignment is governed by the laws of Nebraska, the United
<br />States of America, and to the extent required, by the laws of the jurisdiction where the
<br />Property is located, except to the extent such state laws are preempted by federal law.
<br />21. JOINT AND SEVERAL LIABILITY AND SUCCESSORS. Each Assignor's obligations under
<br />this Assignment are independent of the obligations of any other Assignor. Lender may sue
<br />each Assignor severally or together with any other Assignor. Lender may release any part of
<br />the Property and Assignor will still be obligated under this Assignment for the remaining
<br />Property. Assignor agrees that Lender and any party to this Assignment may extend, modify or
<br />make any change in the terms of this Assignment or any evidence of debt without Assignor's
<br />consent. Such a change will not release Assignor from the terms of this Assignment. Lender
<br />may assign all or part of Lender's rights under this Assignment without Assignor's consent. If
<br />Lender assigns this Assignment, all of Assignor's covenants, agreements, representations and
<br />warranties contained in this Assignment will benefit Lender's successors and assigns. The
<br />duties of this Assignment will bind the successors and assigns of Assignor.
<br />22. AMENDMENT, INTEGRATION AND SEVERABILITY. This Assignment may not be amended
<br />or modified by oral agreement. No amendment or modification of this Assignment is effective
<br />unless made in writing. This Assignment and any other documents relating to the Secured
<br />Debts are the complete and final expression of the agreement. If any provision of this
<br />Assignment is unenforceable, then the unenforceable provision will be severed and the
<br />remaining provisions will still be enforceable.
<br />23. INTERPRETATION. Whenever used, the singular includes the plural and the plural includes
<br />the singular. The section headings are for convenience only and are not to be used to interpret
<br />or define the terms of this Assignment.
<br />24. NOTICE, ADDITIONAL DOCUMENTS AND RECORDING FEES. Unless otherwise required
<br />by law, any notice will be given by delivering it or mailing it by first class mail to the appropriate
<br />party's address listed in the DATE AND PARTIES section, or to any other address designated in
<br />writing. Notice to one Assignor will be deemed to be notice to all Assignors. Assignor will
<br />inform Lender in writing of any change in Assignor's name, address or other application
<br />information. Assignor will provide Lender any other, correct and complete information Lender
<br />requests to effectively mortgage or convey the Property. Assignor agrees to pay all expenses,
<br />charges and taxes in connection with the preparation and recording of this Assignment.
<br />Assignor agrees to sign, deliver, and file any additional documents or certifications that Lender
<br />may consider necessary to perfect, continue, and preserve Assignor's obligations under this
<br />Island Sprinkler Supply Company
<br />Nebraska Assignment of Leases and Rents
<br />NE/4 Nicole. S00000000003066032N
<br />Wolters Kluwer Financial Services, Inc.®1996, 2023 Page 7
<br />Bankers Systems,"
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