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� y2-��3-1999 • � "` ASSIGNMENT OF RENTS 9 9 1117 9 0 Page 3
<br /> Loan No 5071485 (Continued)
<br /> more of the following rights and remedies,in addition to any other rights or remedies provided by law:
<br /> Accelerate Indebtedness. Lender shall have the right at its option to declare the entire Indebtedness immediately due and payable, including
<br /> any prepayment penalty which Grantor would be required to pay.
<br /> Collect Rents. Lender shall have the right, without notice to Grantor, to take possession of the Property and collect the Rents, including
<br /> amounts past due and unpaid, and apply the net proceeds, over and above Lender's costs, against the Indebtedness. In furtherance of this
<br /> right, Lender shall have all the rights provided for in the Lender's Right to Collect Section, above. If the Rents are collected by Lender, then
<br /> Grantor irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments received in payment thereof in the name of Grantor
<br /> and to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender in response to Lender's demand shall
<br /> satisfy the obligations for which the payments are made,whether or not any proper grounds for the demand existed. Lender may exercise its
<br /> rights under this subparagraph either in person,by agent,or through a receiver.
<br /> Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Property,with the power
<br /> to protect and preserve the Property,to operate the Property preceding foreclosure or sale,and to collect the Rents from the Property and apply
<br /> the proceeds,over and above the cost of the receivership,against the Indebtedness. The receiver may serve without bond if permitted by law.
<br /> Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property exceeds the Indebtedness by a
<br /> substantial amount. Employment by Lender shall not disqualify a person from serving as a receiver.
<br /> Other Remedies. Lender shall have all other rights and remedies provided in this Assignment or the Note or by law.
<br /> Waiver;Election of Remedies. A waiver by any party of a breach of a provision of this Assignment ShaU not constitute a waiv�r of or prejudice
<br /> the party's rights otherwise to demand strict compliance with that provision or any other provision, E1ec�i�f►b�r LendrEr to pursue any remedy
<br /> shall not exclude pursuit of any other remedy, and an election to make expenditures or take actjocr tq per�orrn ara obUgation of Grantor under
<br /> this Assignment after failure of Grantor to perform shall not affect Lender's right to declare a default and exercise its remedies under this
<br /> Assignment.
<br /> Attorneys'Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Assignment, Lender shall be entitled to
<br /> recover such sum as the court may adjudge reasonable as attorneys' fees at trial and on any appeal. Whether or not any court action is
<br /> involved,all reasonable expenses incurred by Lender that in Lender's opinion are necessary at any time for the protection of its interest or the
<br /> enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear interest from the date of expenditure until
<br /> repaid at the rate provided for in the Note. Expenses covered by this paragraph include,without limitation, however subject to any limits under
<br /> applicable Iaw, Lender's attorneys'fees and Lender's legal expenses whether or not there is a Iawsuit, including attorneys'fees for bankruptcy
<br /> proceedings (including efforts to modify or vacate any automatic stay or injunction), appeals and any anticipated post-judgment collection
<br /> services, the cost of searching records, obtaining title reports (including foreclosure reports), surveyors' reports, and appraisal fees, and title
<br /> insurance,to the extent permitted by applicable law. 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 agreement of the parties as to
<br /> the matters set forth in this Assignment. No alteration of or amendment to this Assignment shall be effective unless given in writing and signed
<br /> by the party or parties sought to be charged or bound by the alteration or amendment.
<br /> Applicable Law. This Assignment has been delivered to Lender and accepted by Lender in the State of Nebraska. This Assignment
<br /> shall be governed by and construed in accordance with the laws of the State of Nebraska.
<br /> Multiple Parties. All obligations of Grantor under this Assignment shall be joint and several,and all references to Grantor shall mean each and
<br /> every Grantor. This means that each of the persons signing below is responsible for all obligations in this Assignment.
<br /> No Modification. Grantor shall not enter into any agreement with the holder of any mo�tgage,deed of trust, or other security agreement which
<br /> has priority over this Assignment by which that agreement is modified, amended, extended, or renewed without the prior written consent of
<br /> Lender. Grantor shall neither request nor accept any future advances under any such security agreement without the prior written consent of
<br /> Lender.
<br /> Severability. If a court of competent jurisdiction finds any provision of this Assignment to be invalid or unenforceable as to any person or
<br /> circumstance,such finding shall not render that provision invalid or unenforceable as to any other persons or circumstances. If feasible, any
<br /> such offending provision shall be deemed to be modified to be within the limits of enforceability or validity; however, if the offending provision
<br /> cannot be so modified,it shall be stricken and all other provisions of this Assignment in all other respects shall remain valid and enforceable.
<br /> SuCCessors and Assigns. Subject to the limitations stated in this Assignment on transfer of Grantor's interest,this Assignment shall be binding
<br /> upon and inure to the benefit of the parties,their successors and assigns. If ownership of the Property becomes vested in a person other than
<br /> Grantor,Lender,without notice to Grantor, may deal with Grantor's successors with reference to this Assignment and the Indebtedness by way
<br /> of forbearance or extension without releasing Grantor from the obligations of this Assignment or liability under the Indebtedness.
<br /> Time Is of the Essence. Time is of the essence in the performance of this Assignment.
<br /> Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the State of
<br /> Nebraska as to all Indebtedness secured by this Assignment.
<br /> Wafvers and Consents. Lender shall not be deemed to have waived any rights under this Assignment (or under the Related Documents)
<br /> unless such waiver is in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a
<br /> waiver of such right or any other right. A waiver by any party of a provision of this Assignment shall not constitute a waiver of or prejudice the
<br /> party's right othervvise to demand strict compliance with that provision or any other provision. No prior waiver by Lender, nor any course of
<br /> dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or any of Grantor's obligations as to any future
<br /> transactions. Whenever consent by Lender is required in this Assignment, the granting of such consent by Lender in any instance shall not
<br /> constitute continuing consent to subsequent instances where such consent is required.
<br /> GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF TIiIS ASSIGNMENT OF RENTS, AND GRANTOR AGREES TO ITS
<br /> TERMS.
<br /> GRANTOR:
<br /> MILL NIU GEM G O
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<br /> MICHAEL T.WEHLING,General Part r
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