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<br />13. AUTHORITY TO PERFORM. If Grantor fails to perform any duty or any of the covenants contained in this
<br />Security Instrument, lender may, without notice, perform or cause them to be performed. Grantor appoints
<br />lender as attorney in fact to sign Grantor's name or pay any amount necessary for performance. lender's right
<br />to perform for Grantor will not create an obligation to perform, and lender's failure to perform will not preclude
<br />lender from exercising any of lender's other rights under the law or this Security Instrument. If any
<br />construction on the Property is discontinued or not carried on in a reasonable manner, lender may take all steps
<br />necessary to protect lender's security interest in the Property, including completion of the construction.
<br />14. ASSIGNMENT OF lEASES AND RENTS. Grantor irrevocably assigns, grants, conveys to lender as
<br />additional security all the right, title and interest in the following (Property).
<br />A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for
<br />the use and occupancy of the Property, including but not limited to any extensions, renewals, modifications
<br />or replacements (leases).
<br />B. Rents, issues and profits, including but not limited to security deposits, minimum rents, percentage rents,
<br />additional rents, common area maintenance charges, parking charges, real estate taxes, other applicable
<br />taxes, insurance premium contributions, liquidated damages following default, cancellation premiums, "loss
<br />of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, contract rights,
<br />general intangibles, and all rights and claims which Grantor may have that in any way pertain to or are on
<br />account of the use or occupancy of the whole or any part of the Property (Rents).
<br />In the event any item listed as leases or Rents is determined to be personal property, this Assignment will also
<br />be regarded as a security agreement. Grantor will promptly provide lender with copies of the leases and will
<br />certify these leases are true and correct copies. The existing leases will be provided on execution of the
<br />Assignment, and all future leases and any other information with respect to these leases will be provided
<br />immediately after they are executed. Grantor may collect, receive, enjoy and use the Rents so long as Grantor
<br />is not in default. Grantor will not collect in advance any Rents due in future lease periods, unless Grantor first
<br />obtains lender's written consent. Upon default, Grantor will receive any Rents in trust for lender and Grantor
<br />will not commingle the Rents with any other funds. When lender so directs, Grantor will endorse and deliver
<br />any payments of Rents from the Property to lender. Amounts collected will be applied at lender's discretion to
<br />the Secured Debts, the costs of managing, protecting and preserving the Property, and other necessary
<br />expenses. Grantor agrees that this Security Instrument is immediately effective between Grantor and lender
<br />and effective as to third parties on the recording of this Assignment. As long as this Assignment is in effect,
<br />Grantor warrants and represents that no default exists under the leases, and the parties subject to the Leases
<br />have not violated any applicable law on leases, licenses and landlords and tenants. Grantor, at its sole cost and
<br />expense, will keep, observe and perform, and require all other parties to the leases to comply with the leases
<br />and any applicable law. If Grantor or any party to the Lease defaults or fails to observe any applicable law,
<br />Grantor will promptly notify lender. If Grantor neglects or refuses to enforce compliance with the terms of the
<br />Leases, then lender may, at lender's option, enforce compliance. Grantor will not sublet, modify, extend,
<br />cancel, or otherwise alter the leases, or accept the surrender of the Property covered by the leases (unless the
<br />leases so require) without Lender's consent. Grantor will not assign, compromise, subordinate or encumber the
<br />leases and Rents without lender's prior written consent. lender does not assume or become liable for the
<br />Property's maintenance, depreciation, or other losses or damages when lender acts to manage, protect or
<br />preserve the Property, except for losses and damages due to lender's gross negligence or intentional torts.
<br />Otherwise, Grantor will indemnify lender and hold lender harmless for all liability, loss or damage that lender
<br />may incur when lender opts to exercise any of its remedies against any party obligated under the leases.
<br />15. DEFAULT. Grantor will be in default if any of the following occur:
<br />A. Payments. Grantor or Borrower fail to make a payment in full when due.
<br />B. Insolvency or Bankruptcy. The death, dissolution or insolvency of, appointment of a receiver by or on
<br />behalf of, application of any debtor relief law, the assignment for the benefit of creditors by or on behalf of,
<br />the voluntary or involuntary termination of existence by, or the commencement of any proceeding under any
<br />present or future federal or state insolvency, bankruptcy, reorganization, composition or debtor relief law by
<br />or against Grantor, Borrower, or any co-signer, endorser, surety or guarantor of this Security Instrument or
<br />any other obligations Borrower has with lender.
<br />C. Business Termination. Grantor merges, dissolves, reorganizes, ends its business or existence, or a partner
<br />or majority owner dies or is declared legally incompetent.
<br />D. Failure to Perform. Grantor fails to perform any condition or to keep any promise or covenant of this
<br />Security Instrument.
<br />E. Other Documents. A default occurs under the terms of any other document relating to the Secured
<br />Debts.
<br />F. Other Agreements. Grantor is in default on any other debt or agreement Grantor has with lender.
<br />G. Misrepresentation. Grantor makes any verbal or written statement or provides any financial information
<br />that is untrue, inaccurate, or conceals a material fact at the time it is made or provided.
<br />H. Judgment. Grantor fails to satisfy or appeal any judgment against Grantor.
<br />I. Forfeiture. The Property is used in a manner or for a purpose that threatens confiscation by a legal
<br />authority.
<br />J. Name Change. Grantor changes Grantor's name or assumes an additional name without notifying lender
<br />before making such a change.
<br />K. Property Transfer. Grantor transfers all or a substantial part of Grantor's money or property. This
<br />condition of default, as it relates to the transfer of the Property, is subject to the restrictions contained in the
<br />DUE ON SALE section.
<br />L. Property Value. lender determines in good faith that the value of the Property has declined or is impaired.
<br />M. Material Change. Without first notifying lender, there is a material change in Grantor's business,
<br />including ownership, management, and financial conditions.
<br />N. Insecurity. lender determines in good faith that a material adverse change has occurred in Borrower's
<br />financial condition from the conditions set forth in Borrower's most recent financial statement before the
<br />date of this Security Instrument or that the prospect for payment or performance of the Secured Debts is
<br />impaired for any reason.
<br />JLF, LLC
<br />Nebraska Deed Of Trust Initials
<br />NE/4XX28333000937100005187024120706Y @1996 Bankers Systems, Inc" St, Cloud, MN ~ Page 3
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