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Loan No: 1823500
<br />202402613
<br />ASSIGNMENT OF RENTS
<br />(Continued) Page 4
<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 />Adverse Change. A material adverse change occurs in Grantor's financial condition, or Lender believes the
<br />prospect of payment or performance of the Indebtedness is impaired.
<br />Insecurity. Lender in good faith believes itself insecure.
<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
<br />Property and collect the Rents, including amounts past due and unpaid, and apply the net proceeds, over and
<br />above Lender's costs, against the Indebtedness. In furtherance of this right, Lender shall have all the rights
<br />provided for in the Lender's Right to Receive and Collect Rents Section, above. If the Rents are collected by
<br />Lender, then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments received in
<br />payment thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants
<br />or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are
<br />made, whether or not any proper grounds for the demand existed. Lender may exercise its rights under this
<br />subparagraph either in 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. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and
<br />an election to make expenditures or to take action to perform an obligation of Grantor under this Assignment, after
<br />Grantor's failure to perform, shall not affect Lender's right to declare a default and exercise its remedies.
<br />Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Assignment,
<br />Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and
<br />upon any appeal. Whether or not any court action is involved, and to the extent not prohibited by law, all
<br />reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of its
<br />interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear
<br />interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include,
<br />without limitation, however subject to any limits under applicable law, Lender's attorneys' fees and Lender's legal
<br />expenses, whether or not there is a lawsuit, including attorneys' fees and expenses for bankruptcy proceedings
<br />(including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post -judgment
<br />collection services, the cost of searching records, obtaining title reports (including foreclosure reports), surveyors'
<br />reports, and appraisal fees, title insurance, and fees for the Trustee, to the extent permitted by applicable law.
<br />Grantor also will pay any court costs, in addition to all other sums provided by law.
<br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Assignment:
<br />Amendments. This Assignment, together with any Related Documents, constitutes the entire understanding and
<br />agreement of the parties as to the matters set forth in this Assignment. No alteration of or amendment to this
<br />Assignment shall be effective unless given in writing and signed by the party or parties sought to be charged or
<br />bound by the alteration or amendment.
<br />Caption Headings. Caption headings in this Assignment are for convenience purposes only and are not to be used
<br />to interpret or define the provisions of this Assignment.
<br />Governing Law. This Assignment will be governed by federal law applicable to Lender and, to the extent not
<br />preempted by federal law, the laws of the State of Nebraska without regard to its conflicts of law provisions. This
<br />Assignment has been accepted by Lender in the State of Nebraska.
<br />Joint and Several Liability. All obligations of Borrower and Grantor under this Assignment shall be joint and
<br />several, and all references to Grantor shall mean each and every Grantor, and all references to Borrower shall mean
<br />each and every Borrower. This means that each Grantor signing below is responsible for all obligations in this
<br />Assignment. Where any one or more of the parties is a corporation, partnership, limited liability company or similar
<br />entity, it is not necessary for Lender to inquire into the powers of any of the officers, directors, partners, members,
<br />or other agents acting or purporting to act on the entity's behalf, and any obligations made or created in reliance
<br />upon the professed exercise of such powers shall be guaranteed under this Assignment.
<br />Merger. There shall be no merger of the interest or estate created by this Assignment with any other interest or
<br />estate in the Property at any time held by or for the benefit of Lender in any capacity, without the written consent
<br />of Lender.
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