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<br />Loan No: 801648
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<br />A{3SIGNMENT OF RENTS
<br />(Continued)
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<br />200707801
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<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 />(11 the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will
<br />be due and payable at the Note's maturity. The Assignment also will Seoure payml'nt of thesa amounts. SUGh 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 EVllnt of Default under this Assignment:
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<br />Payment Default. Grantor falls 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 paymllnt for taxes or
<br />insurance, or any othllr payment necessary to prevent filing of or to effect dischargll of any lien,
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<br />Environmental Default. Failure of any party to comply with or perform when due any tllrm, 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 Collaterall:1:ation. 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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<br />Insolvency. The dissolution or termination of Grantor's existence as a going business, the insolvency of Grantor, the appointment of a
<br />receiver for any part of Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the
<br />commencement of any proceeding under any bankruptcy or insolvenoy laws by or against Grantor.
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<br />Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self"help,
<br />repossession or any other method, by any creditor of Grantor or by any governmental agency against the Rents or any property
<br />securing the InBebtedness. This includes a garnishment of any of Grantor's accounts, including deposit accounts, with Lender.
<br />However, this Event of Default shall not apply if there is a good faith dispute by Grantor as to the validity or reasonableness of the
<br />claim which is the basis of the creditor or forfeiture proceeding and if Grantor gives Lender written notice of the creditor or forfeiture
<br />proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by
<br />Lender, in its sole discretion, as being an adequate reserve or bond for the dispute.
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<br />Property Damage or Loss. The Property is lost, stolen, substantially damaged, sold, or borrowed against.
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<br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any
<br />Guarantor dillS or becomes incompetent, or revokes or disputes the validity of. or liability under, any Guaranty of the Indebtedness. In
<br />the event of a death, Lender, at its option, may, but shall not be required to, permit the Guarantor's estate to assume unconditionally
<br />the obligations arising under the guaranty in a manner satisfactory to Lender, and, in doing so, cure any Event of Default.
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<br />Adverse Change. A material adverse change occurs in Grantor's financial condition, or Lender believes the prospect of payment or
<br />performance of the Indebtedness is impaired.
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<br />Insecurity. lender in good faith believes itself insecure.
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<br />Cure Provisions, If any default, other than a default in payment is curable and If Grantor has not been given a notice of a breach of
<br />the same provision of this Assignment within the preceding twelve (12) months, it may be cured if Grantor, after rllceiving written
<br />notice from Lender demanding cure of such default; (1 I cures the default within thirty (30) days; or (21 If the cure requires more
<br />than thirty (30) days, immlldiately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default
<br />and thereafter continues and completes all reasonable and necessary steps sufficient to produce Gompliance as soon as reasonably
<br />practical.
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<br />RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter, Lender may exercise any
<br />one or more of the following rights and remedies, in addition to any other rights or remedies provided by law:
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<br />Accelerate Indebtedness. Lender shall have the right at its option to declare the entire Indebtedness Immediately due and payable,
<br />including any prepayment penalty which Grantor would be required to pay.
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<br />Collect Rents. Lender shall have the right, without notice to Grantor, to take possession of the Propsrty and collect the Rents,
<br />including amounts past due and unpaid, and apply ths net proceeds, over and above Lender's costs, against the Indebtedness. In
<br />furtherance of this right, Lender shall have all the rights provided for in the Lender's Right to Receive and Collect Rents Section,
<br />above. If the Rents are collected by Lender, then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to endorse
<br />instruments received in paymllnt thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by
<br />tenants or other users to Lender in response to Lender's demand Shllll satisfy the obligations for which the payments are made,
<br />whether or not any proper grounds for the demand existed. Lender may exercise its rights under this subparagraph either in person,
<br />by agent, or through a receiver.
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<br />Appoint Receiver. Lender shall have ths right to have a rllceiver appointed to take possession of ell or any part of the Property, with
<br />ths power to protect and preserve the Property, to operate the Property preceding foreclosure or sale, and to collect thll Rents from
<br />the Property end apply the proceeds, over and above the cost of the receivership, against the Indebtedness. The reGeiver may serve
<br />without bond if permitted by law. Lender's right to the appointment of a receivllr shall exist whether or not the apparent value of the
<br />Property exceeds the Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person from serving as a
<br />receiver.
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<br />Other Remedies. Lender shall have all other rights and remedies provided in this Assignment or the Nots or by law.
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<br />Election of Remedies. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make
<br />expenditures or to teke action to perform an obligation of Grantor under this Assignment, after Grantor's failure to perform, shall not
<br />affect Lender's right to declare a default and exercise its remedies.
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<br />Attorneys' Fees; Expenses. If Lender institutes any suit or ection to enforce eny of the terms of this Assignment, Lender shall be
<br />entitled to reGover SUGh sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any
<br />court action is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are
<br />neGessary at any time for the protection of its interest or the enforGement of its rights shall become a part of the Indebtedness payable
<br />on demand and shall bear interest at the Note rate from the dato of the expenditure until repaid. Expenses covered by this paragraph
<br />include, without limitation, however subject to any limits under epplicable law, Lender's attorneys'fees and Lender's legai expenses,
<br />whether or not there is a lawsuit, including attorneys' fees and expenses for bankruptcy proceedings (including efforts to modify or
<br />vacate any automatic stay or injunction), appeals, and any anticipated post-judgment collection services, the cost of searching
<br />records, obtaining title reports (including foreclosure reports). survllyors' reports, and appraisal fees, title insurance, and fees for the
<br />Trustee, to the extent permitted by appliGable law. Grantor also wili pay any court Gosts, in eddition to all other sums provided by
<br />law.
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<br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Assignment;
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