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VIII I I Ildll U uul �l l I�I�NIIU 1 1 ll ll l 200301316
<br />00000000000000090
<br />ASSIGNMENT OF RENTS
<br />Loan No: 6120481383 (Continued) Page 2
<br />GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that:
<br />Ownership. Chanter is entitled to receive the Rents free and clear of all rights, loans, liens, encumbrances, and claims except as
<br />disclosed to and accepted by Lander in writing.
<br />Right to Assign. Grantor has the full right, power and authority to enter into this Assignment and to assign and convey the Rents to
<br />Lender.
<br />No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any instrument now in force.
<br />No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights in the Rents except as
<br />provided n this Assignment.
<br />LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no default shall have
<br />occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby given and granted the following
<br />rights, powers and authority:
<br />Notice to Tenants. Lander may send notices to any and all tename of the Property advising them of this Assignment and directing all
<br />Rents to be paid directly to Lender or Lander's agent.
<br />Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and receive from the tenants or from
<br />any other persons liable therefor, all of the Rents; institute and carry on all legal proceedings necessary for the protection of the
<br />Property, including such proceedings as may be necessary to recover possession of the Property; collect the Rents and remove any
<br />tenant or tenants or other persons from the Property.
<br />Maintain the Property. Lender may enter upon the Property to maintain the Property and keep the same in repair; to pay the costs
<br />,hereof and of all services of all employees, including their equipment, and of all continuing costs and expenses of maintaining the
<br />Property in proper repair and condition, and also to pay all taxes, assessments and water utilities, and the premiums on fire and other
<br />Insurance effected by Lender he the Property.
<br />Compliance with Laws. Lender may do any and all things to execute and comply with the laws of the State of Nebraska and also all
<br />Other laws, rules, orders, ordinances and requirements of all other governmental agencies affecting the Property.
<br />Lease the Property. Lender may rent or lease the whole or any part of the Property for such term or terms and on such conditions as
<br />Leradial may deem appropriate.
<br />Employ Agents. Lander may engage such agent or agents as Lender may deem appropriate, either In Lender's name or in Grantor's
<br />name, to rent and manage the Property, Including the collection and application of Rents.
<br />Other Acts. Lender may do all such other things and acts with respect to the Property as Lander may deem appropriate and may act
<br />exc usively and solely in the place and steed of Grantor and to have all of the powers of Grantor for the purposes stated above.
<br />No Requirement to Act. Lender shall not be required to do any of the foregoing acts or things, and the fact that Lender shall have
<br />performed one or more of the foregoing acts or things shall not require Lender to do any other specific act or thing.
<br />APPLICATION Or RENTS. All costs and expenses incurred by Lender in connection with the Property shall be for Grantor's account and
<br />Lender may pay such costs and expenses from the Rents. Lander, In its sole discretion, shall determine the application of any and all Rents
<br />received by It however, any such Rents received by Lender which are not applied to such costs and expenses shall be applied to the
<br />Indefrtedness. All expenditures made by Lender under this Assignment and not reimbursed from the Rents shall become a part of the
<br />Indebtedness secured by this Assignment, and shall be payable on demand, with interest at the Note rate from date of expenditure until
<br />paid.
<br />FULL PERFORMANCE. If Grantor pays all of the Indebtedness when due and otherwise performs all the obligations imposed upon Chanter
<br />under this Assignment, the Note, and the Related Documents. Lender shall execute and deliver to Grantor a suitable satisfaction of this
<br />Assignment and suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Remy and
<br />the Properly. Any termination fee required by law shall be paid by Grantor, if permitted by applicable law.
<br />LENDER'S EXPENDITURES. II any action or proceeding Is commanced that would materially affect Lender 'a interest in the Property or if
<br />Grantor tails to comply with any provision of this Assignment or any Related Documents, including but not limited to Grantor's failure to
<br />discharge or pay when due any amounts Grantor is required to discharge or pay Under this Assignment or any Related Documents, Lander
<br />on Grantor's behalf may (but shall not be obligated tot take any action that Lender deems appropriate, including but not limited to
<br />discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on the Rents or the
<br />Property and paying all costs for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for
<br />such purposes will then bear Interest at the rate charged under the Note from the data incurred or paid by Lender to the date of repayment
<br />by enter. All such expenses will became a part of the Indebtedness and, et Lender's option, will (Al be payable on demand; Mf be
<br />added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either
<br />(I l the term of any applicable Insurance policy; or (2) the remaining term of the Note; or ICI be treated as a balloon payment which will
<br />he due and payable at the Note's maturity. The Assignment also will secure payment of these amounts. Such right shall be in addition to
<br />all other rights and ramedias to which Lender may be entitled upon Default.
<br />DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Assignment:
<br />Payment Default. Grantor fails to make any payment when due under the Indebtedness.
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