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<br />deems proper to protect the Property as fully as Assignor could do. Any funds collected from the operation
<br />of the Property may be applied in such order as Lender may deem proper, including, but not limited to,
<br />payment of the following: operating expenses, management, brokerage, attorneys' and accountants' fees,
<br />the Secured Debts, and toward the maintenance of reserves for repair or replacement. Lender may take
<br />such action without regard to the adequacy of the security, with or without any action or proceeding,
<br />through any person or agent, or receiver to be appointed by a court, and irrespective of Assignor's
<br />possession.
<br />The collection and application of the Rents or the entry upon and taking possession of the Property as set
<br />out in this section shall not cure or waive any notice of default under the Secured Debts, this Assignment, or
<br />invalidate any act pursuant to such notice. The enforcement of such remedy by Lender, once exercised,
<br />shall continue for so long as Lender shall elect, notwithstanding that such collection and application of Rents
<br />may have cured the original default.
<br />H. Waiver. Except as otherwise required by law, by choosing any one or more of these remedies you do not
<br />give up any other remedy. You do not waive a default if you choose not to use a remedy. By electing not to
<br />use any remedy, you do not waive your right to later consider the event a default and to use any remedies if
<br />the default continues or occurs again.
<br />14. TERM. This Assignment will remain in full force and effect until the Secured Debts are paid or otherwise
<br />discharged and Lender is no longer obligated to advance funds under any loan or credit agreement which is a
<br />part of the Secured Debts. If any or all payments of the Secured Debts are subsequently invalidated, declared
<br />void or voidable, or set aside and are required to be repaid to a trustee, custodian, receiver or any other party
<br />under any bankruptcy act or other state or federal law, then the Secured Debts will be revived and will continue
<br />in full force and effect as if this payment had not been made,
<br />15. CO- SIGNERS. If Assignor signs this Assignment but does not sign the Secured Debts, Assignor does so
<br />only to assign Assignor's interest in the Property to secure payment of the Secured Debts and Assignor does
<br />not agree to be personally liable on the Secured Debts. If this Assignment secures a guaranty between Lender
<br />and Assignor, Assignor agrees to waive any rights that may prevent Lender from bringing any action or claim
<br />against Assignor or any party indebted under the obligation. These rights may include, but are not limited to,
<br />any anti- deficiency or one - action laws.
<br />18. APPLICABLE LAW. This Assignment is governed by the laws of Nebraska, except to the extent otherwise
<br />required by the laws of the jurisdiction where the Property is located, and the United States of America.
<br />17. JOINT AND INDIVIDUAL LIABILITY AND SUCCESSORS. Each Assignor's obligations under this
<br />Assignment are independent of the obligations of any other Assignor. Lender may sue each Assignor
<br />individually or together with any other Assignor, Lender may release any part of the Property and Assignor will
<br />still be obligated under this Assignment for the remaining Property. The duties and benefits of this Assignment
<br />will bind and benefit the successors and assigns of Lender and Assignor.
<br />18. AMENDMENT, INTEGRATION AND SEVERABILITY. This Assignment may not be amended or modified by
<br />oral agreement. No amendment or modification of this Assignment is effective unless made in writing and
<br />executed by Assignor and Lender. This Assignment is the complete and final expression of the agreement. If
<br />any provision of this Assignment is unenforceable, then the unenforceable provision will be severed and the
<br />remaining provisions will still be enforceable.
<br />19. INTERPRETATION. Whenever used, the singular includes the plural and the plural includes the singular.
<br />The section headings are for convenience only and are not to be used to interpret or define the terms of this
<br />Assignment.
<br />20. NOTICE, FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Unless otherwise required by law, any
<br />notice will be given by delivering it or mailing it by first class mail to the appropriate party's address listed in the
<br />DATE AND PARTIES section, or to any other address designated in writing. Notice to one party will be deemed
<br />to be notice to all parties. Assignor will inform Lender in writing of any change in Assignor's name, address or
<br />other application information. Assignor will provide Lender any financial statements or information Lender
<br />requests. All financial statements and information Assignor gives Lender will be correct and complete.
<br />Assignor agrees to sign, deliver, and file any additional documents or certifications that Lender may consider
<br />necessary to perfect, continue, and preserve Assignor's obligations under this Assignment and to confirm
<br />Lender's lien status on any Property. Time is of the essence.
<br />SIGNATURES. By signing, Assignor agrees to the terms and covenants contained in this Assignment. Assignor
<br />also acknowledges receipt of a copy of this Assignment.
<br />Westgate PPrerties, L.LC.
<br />Tho as E. Mid lelon, Member
<br />Th6mas E Middleton
<br />Individually
<br />LENDER:
<br />Platte Valley nk &Trust C pang
<br />By
<br />Kris erk omme I ding Officer
<br />Westgate Properties, L.L.C.
<br />Nebraska Assignment of Leases and Rents Initials
<br />NE/ 4XX28333000815100004558020081605Y ®1996 Bankers Systems, Inc., St. Cloud, MN Ex er : Page 5
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