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<br />88-104345 <br /> <br />exists in the Obligations, Mortgagor may collect, but not prior <br />to accrual, except as otherwise set forth herein, all Rents, and <br />may retain and use the same: <br /> <br />a. For payment to Mortgagee of the Obligations; <br /> <br />b. For the accounting for or repayment when due of <br />all tenant security deposits, with interest thereon, <br />pursuant to the provisions of Nebraska laws; <br /> <br />c. For payment of all delinquent or current real <br />estate taxes and special assessments payable with <br />respect to the Mortgaged premises, or if the Mortgage <br />requires periodic escrow payments for such taxes and <br />assessments, to the escrow payments then due; <br /> <br />d. For payment of all premiums then due for the <br />insurance required by the provisions of the Mortgage, or <br />if the Mortgage requires periodic escrow payments for <br />such premiums, to the escrow payments then due1 <br /> <br />e. For payment of expenses incurred for the <br />keeping of the covenants required of a lessor or <br />licensor pursuant to the provisions of Nebraska laws1 <br /> <br />f. For payment of expenses incurred for normal <br />maintenance and repairs of the Mortgaged premises; and <br /> <br />g. The remainder thereof for the enjoyment of <br />Mortgagor. <br /> <br />The provisions of the foregoing Section are intended to be a mere <br />license in favor of Mortgagor and a mere deferral of Mortgagee's <br />exercise of its perfected, absolute and present rights hereunder, <br />and shall not be construed to be a future assignment thereof. <br /> <br />ARTICLE IV <br /> <br />Mortgagee's Rights <br /> <br />4.1 Upon or at any time after the existence of an Event <br />of Default in any of the Obligations, as defined therein, <br />Mortgagee may, at its option, either: <br /> <br />a. Collect and receive Rents directly from <br />tenants, and in the name, place and stead of Mortgagor <br />do and perform the acts and things which a receiver is <br />authorized to do or perform pursuant to Sections 4.3 and <br />4.4 of this Article, in which event this Assignment <br />shall operate against and be binding, as well as upon <br />Mortgagor, upon the tenants of the Mortgaged Premises <br />from the date of filing by the holder of this Assignment <br />in the office of the Register of Deeds or the office of <br />the Registrar of Titles for the County in which the <br /> <br />-5- <br /> <br />L <br />