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200508998
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Last modified
10/17/2011 12:42:44 PM
Creation date
10/28/2005 12:18:28 PM
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DEEDS
Inst Number
200508998
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10. No Waiver. Failure of Assignee to avail itself of any of the terms, covenants and <br />conditions of this Assignment for any period of time, or any time or times, shall not be construed <br />or deemed to be a waiver of any of its rights hereunder. The rights and remedies of Assignee <br />under this Assignment are cumulative and are not in lieu of, but are in addition to, any other <br />rights and remedies which Assignee shall have under or by virtue of any of the Loan Documents. <br />The rights and remedies of Assignee hereunder may be exercised from time to time and as often <br />as such exercise is deemed expedient. <br />11. Assignment of Assignee's Rights. Any holder of the Secured Indebtedness shall have the <br />right to assign to any subsequent holder of the Secured Indebtedness, the right, title and interest <br />of Assignor hereby assigned, subject, however, to the provisions of this Assignment. In the <br />event all the right, title and interest of Assignor in the Premises are barred or foreclosed, no <br />assignee of the interest of Assignor shall be liable to account to Assignor for any Rents thereafter <br />accruing. <br />12. Release. Upon payment in full of the Secured Indebtedness, as evidenced by a recorded <br />satisfaction or release of the Deed of Trust, as well as any sums which may be payable <br />hereunder, this Assignment shall become and be void and of no effect. <br />Amendments an <br />Discharge. No change, amendment, modification, cancellation or <br />discharge of this Assignment, or any part hereof, shall be valid unless Assignee shall have <br />consented thereto in writing. <br />14. Successors and Assigns. The terms, covenants and conditions contained herein shall <br />inure to the benefit of, and bind Assignor, Assignee and their successors and assigns. <br />15. Governing Law. This Assignment shall be governed by and construed in accordance <br />with the laws of State of Nebraska, without reference to conflict of law principles, except that <br />federal law shall govern when SBA is the holder of the Note as more fully set forth below. <br />The Loan secured by this lien was made under a United States Business Administration (SBA) <br />nationwide program which uses tax dollars to assist small business owners. If the United States <br />is seeking to enforce this document, the under SBA regulations: <br />(a) When SBA is the holder of the Note, this document and all documents <br />evidencing or securing this Loan will be construed in accordance with federal law. <br />(b) CDC or SBA may use local or state procedures for purposes such as filing <br />paper, recording documents, giving notice, foreclosing liens, and other purposes. By <br />using these procedures, SBA does not waiver any federal immunity from local or state <br />control, penalty, tax or liability. No Borrower or Guarantor may claim or assert against <br />SBA any local or state law to deny any obligation of Borrower, or defeat any claim of <br />SBA with respect to this Loan. <br />Any clause in this document requiring arbitration is not enforceable when SBA is the holder of <br />190802.aoc 5 <br />
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