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<br />e
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<br />200707308
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<br />loan No: 0000000034
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<br />ASSIGNMENT OF RENTS
<br />(Continued)
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<br />Page 2
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<br />occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby given and granted the following
<br />rights, powers and authority:
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<br />Notice to Tenants. Lender may send notices to any and all tenants of the Property advising them of this Assignment and directing all
<br />Rents to be paid directly to Lender or Lender's agent.
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<br />Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and receive from the tenants or from
<br />any other persons liable therefor, all of the Rents; institute and carryon all legal proceedings necessary for the protection of the
<br />Property, including such proceedings as may be necessary to recover possession of the Property; collect the Rents and remove any
<br />tenant or tenants or other persons from the Property.
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<br />Maintain the Property. Lender may enter upon the Property to maintain the Property and keep the same in repair; to pay the costs
<br />thereof and of all services of all employees, including their equipment, and of all continuing costs and expenses of maintaining the
<br />Property in proper repair and condition, and also to pay all taxes, assessments and water utilities, and the premiums on fire and other
<br />insurance effected by Lender on the Property.
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<br />Compliance with Laws. Lender may do any and all things to execute and comply with the laws of the State of Nebraska and also all
<br />other laws, rules, orders, ordinances and requirements of all other governmental agencies affecting the Property.
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<br />Lease the Property. Lender may rent or lease the whole or any part of the Property for such term or terms and on such conditions as
<br />Lender may deem appropriate.
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<br />Employ Agents. Lender may engage such agent or agents as Lender may deem appropriate, either in Lender's name or in Grantor's
<br />name, to rent and manage the Property, including the collection and application of Rents.
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<br />Other Acts. Lender may do all such other things and acts with respect to the Property as Lender may deem appropriate and may act
<br />exclusively and solely in the place and stead of Grantor and to have all of the powers of Grantor for the purposes stated above.
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<br />No Requirement to Act. Lender shall not be required to do any of the foregoing acts or things, and the fact that Lender shall have
<br />performed one or more of the foregoing acts or things shall not require Lender to do any other specific act or thing.
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<br />APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with the Property shall be for Grantor's account and
<br />Lender may pay such costs and expenses from the Rents. Lender, in its sole discretion, shall determine the application of any and all Rents
<br />received by it; however, any such Rents received by Lender which are not applied to such costs and expenses shall be applied to the
<br />Indebtedness. All expenditures made by Lender under this Assignment and not reimbursed from the Rents shall become a part of the
<br />Indebtedness secured by this Assignment, and shall be payable on demand, with interest at the Note rate from date of expenditure until
<br />paid.
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<br />FULL PERFORMANCE. If Grantor pays all of the Indebtedness when due and otherwise performs all the obligations imposed upon Grantor
<br />under this Assignment, the Note, and the Related Documents, Lender shall execute and deliver to Grantor a suitable satisfaction of this
<br />Assignment and suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and
<br />the Property. Any termination fee required by law shall be paid by Grantor, if permitted by applicable law.
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<br />LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if
<br />Grantor fails to comply with any provision of this Assignment or any Related Documents, including but not limited to Grantor's failure to
<br />discharge or pay when due any amounts Grantor is required to discharge or pay under this Assignment or any Related Documents, Lender
<br />on Grantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to
<br />discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on the Rents or the
<br />Property and paying all costs for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for
<br />such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment
<br />by Grantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be
<br />added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either
<br />(1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (e) be treated as a balloon payment which will
<br />be due and payable at the Note's maturity. The Assignment also will secure payment of these amounts. Such right shall be in addition to
<br />all other rights and remedies to which Lender may be entitled upon Default.
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<br />DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Assignment:
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<br />Payment Default. Grantor fails to make any payment when due under the Indebtedness.
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<br />Other Defaults. Grantor fails to comply with or to perform any other term, obligation, covenant or condition contained in this
<br />Assignment or in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained
<br />in any other agreement between Lender and Grantor.
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<br />Default on Other Payments. Failure of Grantor within the time required by this Assignment to make any payment for taxes or
<br />insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien.
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<br />Default in Favor of Third Parties. Grantor defaults under any loan, extension of credit, security agreement, purchase or sales
<br />agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Grantor's property or
<br />Grantor's ability to perform Grantor's obligations under this Assignment or any of the Related Documents.
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<br />Environmental Default. Failure of any party to comply with or perform when due any term, obligation, covenant or condition contained
<br />in any environmental agreement executed in connection with the Property.
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<br />False Statements. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf under
<br />this Assignment or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished
<br />or becomes false or misleading at any time thereafter.
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<br />Defective Collateralization. This Assignment or any of the Related Documents ceases to be in full force and effect (including failure of
<br />any collateral document to create a valid and perfected security interest or lien) at any time and for any reason.
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