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ASSIGNMENT OF RENTS 200410527
<br />Loan No: 4032026768 (Continued) Page 5
<br />arbitrator or other party to an arbitration proceeding may disclose the existence, content or results thereof, except for disclosures of
<br />information by a party required in the ordinary course of its business or by applicable law or regulation. If more than one agreement for
<br />arbitration by or between the parties potentially applies to a Dispute, the arbitration provision most directly related to the documents
<br />between the parties or the subject matter of the Dispute shall control. This arbitration provision shall survive termination, amendment or
<br />expiration of any of the documents or any relationship between the parties.
<br />State - Specific Provisions.
<br />If California law governs the Dispute, the following provision is included:
<br />Real Property Collateral; Judicial Reference. Notwithstanding anything herein to the contrary, no Dispute shall be submitted to arbitration if
<br />the Dispute concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless the holder of the
<br />mortgage, lien or security interest specifically elects in writing to proceed with the arbitration. If any such Dispute is not submitted to
<br />arbitration, the Dispute shall, at the election of any party, be referred to a referee in accordance with California Code of Civil Procedure
<br />Section 638 at seq., and this general reference agreement is intended to be specifically enforceable in accordance with said Section 638.
<br />A referee with the qualifications required herein for arbitrators shall be selected pursuant to the AAA's selection procedures. Judgment
<br />upon the decision rendered by a referee shall be entered in the court in which such proceeding was commenced in accordance with
<br />California Code of Civil Procedure Sections 644 and 645.
<br />If Idaho law governs the Dispute, the following provision is included:
<br />Real Property Collateral; Judicial Reference. Notwithstanding anything herein to the contrary, no dispute shall be submitted to arbitration if
<br />the dispute concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless (i) the holder of the
<br />mortgage, lien or security interest specifically elects in writing to proceed with the arbitration, or (ii) all parties to the arbitration waive any
<br />rights or benefits that might accrue to them by virtue of the single action rule statute of Idaho, thereby agreeing that all indebtedness and
<br />obligations of the parties, and all mortgages, liens and security interests securing such indebtedness and obligations, shall remain fully valid
<br />and enforceable.
<br />If Montana law governs the Dispute, the following provision is included:
<br />Real Property Collateral; Judicial Reference. Notwithstanding anything herein to the contrary, no dispute shall be submitted to arbitration if
<br />the dispute concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless (i) the holder of the
<br />mortgage, lien or security interest specifically elects in writing to proceed with the arbitration, or (ii) all parties to the arbitration waive any
<br />rights or benefits that might accrue to them by virtue of the single action rule statute of Montana, thereby agreeing that all indebtedness
<br />and obligations of the parties, and all mortgages, liens and security interests securing such indebtedness and obligations, shall remain fully
<br />valid and enforceable.
<br />If Nevada law governs the Dispute, the following provision is included:
<br />Real Property Collateral; Judicial Reference. Notwithstanding anything herein to the contrary, no dispute shall be submitted to arbitration if
<br />the dispute concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless (i) the holder of the
<br />mortgage, lien or security interest specifically elects in writing to proceed with the arbitration, or (ii) all parties to the arbitration waive any
<br />rights or benefits that might accrue to them by virtue of the single action rule statute of Nevada, thereby agreeing that all indebtedness and
<br />obligations of the parties, and all mortgages, liens and security interests securing such indebtedness and obligations, shall remain fully valid
<br />and enforceable.
<br />If Utah law governs the Dispute, the following provision is included:
<br />Real Property Collateral; Judicial Reference. Notwithstanding anything herein to the contrary, no Dispute shall be submitted to arbitration if
<br />the Dispute concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless the holder of the
<br />mortgage, lien or security interest specifically elects in writing to proceed with the arbitration. If any such Dispute is not submitted to
<br />arbitration, the Dispute shall, at the election of any party, be referred to a master in accordance with Utah Rule of Civil Procedure 53, and
<br />this general reference agreement is intended to be specifically enforceable. A master with the qualifications required herein for arbitrators
<br />shall be selected pursuant to the AAA's selection procedures. Judgment upon the decision rendered by a master shall be entered in the
<br />court in which such proceeding was commenced in accordance with Utah Rule of Civil Procedure 53(e).
<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
<br />parties as to the matters set forth in this Assignment. No alteration of or amendment to this Assignment shall be effective unless
<br />given in writing and signed by the party or parties sought to be charged or 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 to interpret or
<br />define the provisions of this Assignment.
<br />Governing Law. This Assignment will be governed by, construed and enforced in accordance with federal law and the laws of the
<br />State of Nebraska. This 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 several, and all references
<br />to Grantor shall mean each and every Grantor, and all references to Borrower shall mean each and every Borrower. This means that
<br />each Borrower and Grantor signing below is responsible for all obligations in this Assignment.
<br />Merger. There shall be no merger of the interest or estate created by this assignment with any other interest or estate in the Property
<br />at any time held by or for the benefit of Lender in any capacity, without the written consent of Lender.
<br />Interpretation. (1) In all cases where there is more than one Borrower or Grantor, then all words used in this Assignment in the
<br />singular shall be deemed to have been used in the plural where the context and construction so require. (2) If more than one person
<br />signs this Assignment as "Grantor," the obligations of each Grantor are joint and several. This means that if Lender brings a lawsuit,
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