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<br />88- 104345 <br /> <br />Mortgaged premises are located of a Notice of Default in <br />the terms and conditions of the Mortgage and service of <br />a copy of the notice upon the tenants of the Mortgaged <br />premises; or <br /> <br />b. Apply for, and Mortgagor hereby consents to, <br />the appointment of a receiver of the Mortgaged premises. <br /> <br />4.2 Mortgagee shall be entitled to the rights and <br />remedies granted herein whether or not proceedings for the <br />foreclosur~ of the Mortgage have been commenced, and if such <br />proceedings have been commenced, whether or not a foreclosure <br />sale has occurred, without regard to waste, adequacy of the <br />security, or solvency of Mortgagor. The exercise of any of the <br />foregoing rights or remedies shall not cure or waive any Event of <br />Default in the Obligations or invalidate any act done by virtue <br />of such Event of Default. <br /> <br />4.3 All Rents collected by Mortgagee, or by a receiver, <br />as the case may be, shall be held and applied in the following <br />order: <br /> <br />a. To payment of all reasonable fees of the <br />receiver, if any, approved by the court; <br /> <br />b. To the accounting for or repayment when due of <br />all tenant security deposits, with interest thereon, <br />pursuant to the provisions of Nebraska law$; <br /> <br />c. To 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 then due; <br /> <br />d. To payment of all premiums then due for the <br />insurance required by the provisions of the Mortgage, or <br />if the Mortgage required period escrow payments for such <br />premiums, to the escrow payments then due; <br /> <br />e. To payment of expenses incurred for the keeping <br />of the covenants required of a lessor or licensor <br />pursuant to the provisions of Nebraska laws; <br /> <br />f. To payment of expenses incurred for normal <br />maintenance and repairs of the Mortgaged Premises; <br /> <br />g. To Mortgagee in payment of the Obligations in <br />such order of application as Mortgagee may elect. <br /> <br />The rights, powers and remedies of Mortgagee under this <br />Assignment and the application of the Rents pursuant to this <br />Section 4.3 shall continue and remain in full force and effect <br />both before and after commencement of any action or proceeding to <br /> <br />-6- <br /> <br />~ <br />