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200301316
<br />00000000000000090
<br />ASSIGNMENT OF RENTS
<br />Loan No: 6120481383 (Continued) Page 3
<br />Other Defaults. Grantor fails to comply with or to perform any other term, obligation, covenant or condition contained In this
<br />Assignment or in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained
<br />in any other agreement between Lender and Grantor.
<br />Default on Other payments. Failure of Grantor within the time required by this Assignment to make any payment for taxes or
<br />insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
<br />Default In Favor of Third Parties. Grantor defaults under any loan, extension of credit security agreement, purchase or sales
<br />agreement, Or any other agree mend, in favor of any other creditor or person that may materially affect any of Grantor's property or
<br />Grantor's ability to perform Grantor's obligations under This Assignment or any of the Related Documents.
<br />False Statements. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf under
<br />this Assignment or the Related Documents is false or misleading in any material respect either now or at the time made or furnished
<br />or becomes false or misleading at any time thereafter.
<br />Defective Collateralization. This Assignment or any Of the Related Documents ceases to be in full force and effect (including failure of
<br />any collateral document to create a valid and perfected security interest or Iran) at any time and for any reason.
<br />Death or Insolvency. The death of Grantor, the insolvency of Grantor, the appointment of a receiver for any part of Grenter'a
<br />property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under
<br />any bankruptcy or insolvency laws by or against Grantor.
<br />Creditor or Forfeiture Proceedings. Commencement Of foreclosure or forfeiture proceedings, whether by judicial proceeding, self -help,
<br />repossession or any other method, by any creditor of Grantor or by any governmental agency against the Rents or any property
<br />securing the Indebtedness. This includes a garnishment Of any Of Grantors accounts, including deposit accounts, with Lender.
<br />However, this Event of Default all not apply it there is a good faith dispute by Grantor as to the validity or reasonableness of the
<br />claim which Is the basis of the creditor or forfeiture proceeding and if Grantor gives Lender written notice of the creditor or forfeiture
<br />proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by
<br />Lender, in its sole discretion, as being an adequate reserve or bond for the dispute.
<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, or accommodation
<br />party of any of the Indebtedness o r any guarantor, endorser, surety, n accommodation party dies or becomes incompetent, or
<br />revokes or disputes the validity of or liability under. any Guaranty of the Indebted ess.
<br />Adverse Change. A material adverse change occurs in Grantor's financial condition, or Lender believes the prospect of payment or
<br />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 may exercise any
<br />One or 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,
<br />including any prepayment penalty which Grantor would be required to pay.
<br />Collect Hants. Lender shall have the right, without notice to Grantor, to take possession of the Property and collect the Rents .
<br />including amounts past due and unpaid, and apply the net proceeds, over and above Lender's costs, against the Indebtedness. In
<br />furtherance of this right, Lender shall have all the rights provided for in the Lender's Right to Receive and Collect Rents Section,
<br />above. If the Rents are collected by Lender, then Grantor Ir vcably designates Lender as Grantors attorney -in -fact to endorse
<br />Instruments received In payment thereof in the name of Grantor and to negotiate the some and collect the proceeds. Payments by
<br />tenants Or other users to Lender In response to Lenders demand shall satisfy the obligations for which the payments arc made,
<br />whether or not any proper grounds for the demand existed. Lender may exercise its rights untler this subparagraph either in person,
<br />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
<br />the power to protect and preserve the Property, to operate the Property preceding foreclosure or sale, and to collect the Rents from
<br />the Property and apply the proceeds, over and above the cost of the receivership, against the Indebtedness. The receiver may serve
<br />without bond if permitted by law. Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the
<br />Property exceeds the Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person from serving as a
<br />receiver.
<br />Other Remedies. Lender shall have all other rights and remedies provided in this Assignment or the Note or by law.
<br />Election of Remedies. Election by Leader to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make
<br />expenditures or to take action to perform an Obligation of Grantor under this Assignment, after Grantor's failure to perform, shall not
<br />affect Lender's right to declare a default and exercise its remedies.
<br />Attorneys Fees; Expanses. If Lender Institutes any suit or action to enforce any Of the terms of this Assignment, Lender shall be
<br />entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any
<br />court action Is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are
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