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<br />is discontinued or not carried on in a reasonable manner, Lender may take all steps necessary to protect Lender's
<br />security interest in the Property, including completion of the construction.
<br />13. ASSIGNMENT OF LEASES AND RENTS. Grantor irrevocably assigns, grants, conveys to Lender as additional
<br />security all the right, title and interest in the following (Property).
<br />A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for the
<br />use and occupancy of the Property, including but not limited to any extensions, renewals, modifications or
<br />replacements (Leases).
<br />B. Rents, issues and profits, including but not limited to security deposits, minimum rents, percentage rents,
<br />additional rents, common area maintenance charges, parking charges, real estate taxes, other applicable taxes,
<br />insurance premium contributions, liquidated damages following default, cancellation premiums, "loss of rents"
<br />insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, contract rights, general intangibles,
<br />and all rights and claims which Grantor may have that in any way pertain to or are on account of the use or
<br />occupancy of the whole or any part of the Property (Rents).
<br />In the event any item listed as Leases or Rents is determined to be personal property, this Assignment will also be
<br />regarded as a security agreement. Grantor will promptly provide Lender with copies of the Leases and will certify
<br />these Leases are true and correct copies. The existing Leases will be provided on execution of the Assignment, and
<br />all future Leases and any other information with respect to these Leases will be provided immediately after they are
<br />executed. Grantor may collect, receive, enjoy and use the Rents so long as Grantor is not in default. Grantor will not
<br />collect in advance any Rents due in future lease periods, unless Grantor first obtains Lender's written consent. Upon
<br />default, Grantor will receive any Rents in trust for Lender and Grantor will not commingle the Rents with any other
<br />funds. When Lender so directs, Grantor will endorse and deliver any payments of Rents from the Property to
<br />Lender. Amounts collected will be applied at Lender's discretion to the Secured Debts, the costs of managing,
<br />protecting and preserving the Property, and other necessary expenses. Grantor agrees that this Security Instrument
<br />is immediately effective between Grantor and Lender and effective as to third parties on the recording of this
<br />Assignment. As long as this Assignment is in effect, Grantor warrants and represents that no default exists under
<br />the Leases, and the parties subject to the Leases have not violated any applicable law on leases, licenses and
<br />landlords and tenants. Grantor, at its sole cost and expense, will keep, observe and perform, and require all other
<br />parties to the Leases to comply with the Leases and any applicable law. If Grantor or any party to the Lease defaults
<br />or fails to observe any applicable law, Grantor will promptly notify Lender. If Grantor neglects or refuses to enforce
<br />compliance with the terms of the Leases, then Lender may, at Lender's option, enforce compliance. Grantor will not
<br />sublet, modify, extend, cancel, or otherwise alter the Leases, or accept the surrender of the Property covered by the
<br />Leases (unless the Leases so require) without Lender's consent. Grantor will not assign, compromise, subordinate
<br />or encumber the Leases and Rents without Lender's prior written consent. Lender does not assume or become
<br />liable for the Property's maintenance, depreciation, or other losses or damages when Lender acts to manage, protect
<br />or preserve the Property, except for losses and damages due to Lender's gross negligence or intentional torts.
<br />Otherwise, Grantor will indemnify Lender and hold Lender harmless for all liability, loss or damage that Lender may
<br />incur when Lender opts to exercise any of its remedies against any party obligated under the Leases.
<br />14. DEFAULT.. Grantor will be in default if any of the following occur:
<br />A. Payments. Grantor fails to make a payment in full when due.
<br />B. Insolvency or Bankruptcy. The death, dissolution or insolvency of, appointment of a receiver by or on behalf
<br />of, application of any debtor relief law, the assignment for the benefit of creditors by or on behalf of, the voluntary
<br />or involuntary termination of existence by, or the commencement of any proceeding under any present or future
<br />federal or state insolvency, bankruptcy, reorganization, composition or debtor relief law by or against Grantor,
<br />Borrower, or any co- signer, endorser, surety or guarantor of this Security Instrument or any other obligations
<br />Borrower has with Lender.
<br />C. Business Termination. Grantor merges, dissolves, reorganizes, ends its business or existence, or a partner
<br />or majority owner dies or is declared legally incompetent.
<br />D. Failure to Perform. Grantor fails to perform any condition or to keep any promise or covenant of this Security
<br />Instrument.
<br />E. Other Documents. A default occurs under the terms of any other transaction document.
<br />F. Other Agreements. Grantor is in default on any other debt or agreement Grantor has with Lender.
<br />G. Misrepresentation. Grantor makes any verbal or written statement or provides any financial information that
<br />is untrue, inaccurate, or conceals a material fact at the time it is made or provided.
<br />H. Judgment. Grantor fails to satisfy or appeal any judgment against Grantor.
<br />I. Forfeiture. The Property is used in a manner or for a purpose that threatens confiscation by a legal authority.
<br />J. Name Change. Grantor changes Grantor's name or assumes an additional name without notifying Lender
<br />before making such a change.
<br />K. Property Transfer. Grantor transfers all or a substantial part of Grantor's money or property. This condition
<br />of default, as it relates to the transfer of the Property, is subject to the restrictions contained in the DUE ON SALE
<br />section.
<br />L. Property Value. The value of the Property declines or is impaired.
<br />M. Material Change. Without first notifying Lender, there is a material change in Grantor's business, including
<br />ownership, management, and financial conditions.
<br />N. Insecurity. Lender reasonably believes that Lender is insecure.
<br />15. REMEDIES. Lender may use any and all remedies Lender has under state or federal law or in any instrument
<br />evidencing or pertaining to the Secured Debts, including, without limitation, the power to sell the Property. Any
<br />amounts advanced on Grantor's behalf will be immediately due and may be added to the balance owing under the
<br />Secured Debts. Lender may make a claim for any and all insurance benefits or refunds that may be available on
<br />Grantor's default.
<br />Subject to any right to cure, required time schedules or any other notice rights Grantor may have under federal and
<br />state law, Lender may make all or any part of the amount owing by the terms of the Secured Debts immediately due
<br />Komer, LLC
<br />Nebraska Deed Of Trust Initials
<br />NE/ 4XX26386900815100004558020120804Y -1996 Bankers Systems, Inc., St. Cloud, MN C Page 3
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