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200305038 the powers herein granted to it, and the Grantor expressly waives and releases any such liability. Should the Beneficiary or any Secured Party or any Person exercising rights on its behalf incur any such liability, loss or damage, under or by reason hereof, or in the defense of any claims or demands, the Grantor agrees to reimburse the Beneficiary or such Secured Party, as the case may be, immediately upon demand (provided such demand is accompanied by an itemized statement) for the amount thereof, including costs, expenses and reasonable attorneys' fees, and any such obligations of the Grantor shall be Secured Obligations hereunder and shall survive any foreclosure or transfer in lieu of foreclosure of this Deed of Trust and the release of this Deed of Trust provided that any claims arising out of the willful misconduct or gross negligence of the Beneficiary or any Secured Party or act of the Beneficiary or any Secured Party after taking possession of or title to the Property shall be excluded from the foregoing reimbursement obligation. Section 5.07. Possession By Grantor. While an Event of Default has occurred and is continuing, the Grantor will pay monthly in advance to the Beneficiary, or to any Receiver appointed pursuant to Section 5.04(d), the fair and reasonable rental value for the use and occupation of any portion of the Property that the Grantor shall be in possession of, and, upon the Grantor's default in making any such payment, the Grantor will vacate and surrender such possession to the Beneficiary or such Receiver, and the Beneficiary shall have the right to evict the Grantor upon the Grantor's failure so to vacate and surrender. Section 5.08. Assignment Of Leases. (a) Subject to paragraph (d) below, the assignments of the Leases and the Rents under Granting Clauses VI and VII are and shall be present, absolute and irrevocable assignments by the Grantor to the Beneficiary and, subject to the license to the Grantor under Section 5.08(b), the Beneficiary or a Receiver appointed pursuant to Section 5.04(d) (as the case may be as the Person exercising the rights under this Section) shall have the absolute, immediate and continuing right to collect and receive all Rents now or hereafter, including during any period of redemption, accruing with respect to the Property. At the request of the Beneficiary or such Receiver, the Grantor shall promptly execute, acknowledge, deliver, record, register and file any additional general assignment of the Leases or specific assignment of any Lease which the Beneficiary or such Receiver may require from time to time (all in form and substance satisfactory to the Beneficiary or such Receiver) to effectuate, complete, perfect, continue or preserve the assignments of the Leases and the Rents under Granting Clauses VI and VII. (b) As long as no Event of Default has occurred and is continuing, the Grantor shall have the right under a license granted hereby, subject to Section 5.08(c), to collect all Rents upon, but not prior to fifteen (15) days before, the due date thereof. (c) If an Event of Default has occurred and is continuing, the Beneficiary or a Receiver appointed pursuant to Section 5.04(d) (as the case may 30 (NY) 04675/ 120 /REAL/NEBRASKA/form.dot.NE.doc