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III 00000000000000090 MINI III
<br />ASSIGNMENT OF RENTS
<br />Loan No: 4360736681 (continued) 200214136 Page 3
<br />Defective Collateralizetion. This Assignment or any at 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 lien) at any time and for any reason.
<br />Death or Insolvency. The dissolution or termination of Grantor's existence as a going business or the death of any partner, the
<br />insolvency of Grantor, the appointment of a receiver for any part of Grantor's property, any assignment for the benefit of creditors,
<br />any type of creditor workout, or the commencement of any proceeding under any bankruptcy or Insolvency laws by or against
<br />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 Grantor's accounts, Including deposit accounts, with Lander.
<br />However, t ply his Event of Default shall not ap if 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 a adequata reserve or bond for the dam te.
<br />Property Damage or Loss. The Property is lost, stolen, substantially damaged, Sell, or borrowed against.
<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any
<br />Guarantor dies or becomes Incompetent, or revokas or disputes the validity of, or liability under, any Guaranty of the Indebtedness.
<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 fallowing 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 Rents. Lander 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 Intlebtedness. In
<br />fortherence 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 Ronta are collected by Lender, than Grantor 'urevecably designates Lender as Grantor's attorney in fact to endorse
<br />instruments received in payment thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by
<br />tenants or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are made,
<br />whether or not any proper grounds for the demand existed. Lender may exercise its rights under 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 />wlmeet 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 />Other Remedies. Lender shall have all other rights and remedies provided in this Assignment or the Nate or by law.
<br />Election of Remedies. Election by Lander 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 />client Lender's right to declare a default and exercise its remedies.
<br />Attorneys' Fees; Expenses. 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 low, all reasonable expenses Lender incurs that In Lendei s opinion are
<br />necessary at any lime for the protection of Its interest or the enforcement of its rights shall become a part of the Indebtedness payable
<br />on demand and shall hear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph
<br />include, without limitation, however subject to any limits under applicable law, Lender's attorneys' fees and Lendei s legal expenses,
<br />whether or not there is o lawsuit, including submays' fees and expenses for bankruptcy proceedings (including efforts to modify or
<br />care any automatic stay or Injunction), appeals, and any anticipated pest judgment collection services, the cost of searching
<br />records, obtaining title reports lincluding foreclosure reports(, surveyors' reports, and appraisal fees, title Insurance, and fees far the
<br />Trustee, to the extent permitted by applicable law. Grantor also will pay any court costs, in addition to all other sums provided by
<br />law.
<br />CONSENT TO SELL LOAN. The parties hereto agree: (a) Lender may sell or transfer all or part of this loan to one or more purchasers,
<br />whether related or unrelated to Lender; @I Lender may provide to any purchaser, or potential purchaser, any Information or knowledge
<br />Lender may have about the parties or about any other matter relating to this can obligation, and the parties waive any rights to privacy it
<br />may have with respect to such matters; (c) the purchaser of a loan will be considered Its absolute owner and will have all the rights
<br />granted under the loan documents or agreements governing the sale of the loan: and ld) the purchaser of a loan may enforce its interests
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