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<br />200803335
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<br />Loan No: 132827-00100
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<br />ASSIGNMENT OF RENTS
<br />(Continued)
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<br />Page 3
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<br />to be paid direcUy to Lender dr Lender's agent.
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<br />Enter the Property. Lender ~ay enter upon and take possession of the Property; demand, collect and receive'from the tenants or from any
<br />other persons liable therefor,1 all of the Rents; institute and carry on all legal proceedings necessary for the protection of the Property,
<br />including such proceedings as may be necessary to recover possession of the Property; collect the Rents and remove any tenant or tenants
<br />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 thereof
<br />and of all services of all emplc~yees, including their equipment, and of all continuing costs and expenses of maintaining the Property in proper
<br />repair and condition, and also to pay all taxes, assessments and water utilities, and the premiums on fire and other insurance effected by
<br />Lender on the Property. I
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<br />Compliance with Laws. Lencer may do any and all things to execute and comply with the laws of the State of Nebraska and also all other
<br />laws, rules, orders, ordinances and requirements of all other governmental agencies affecting the Property.
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<br />Lease the Property. Lende~ 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 may1engage such agent or agents as Lender may deem appropriate, either in Lender's name or in Grantor's name,
<br />to rent and manage the Property, including the collection and application of Rents.
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<br />Other Acts. Lender may dd all such other things and acts with respect to the Property as Lender may de~m 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 thelforegoing acts or things shall not require Lender to do any other specific act or thing.
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<br />APPLICATION OF RENTS. All co~ts and expenses Incurred by Lender In connection with the Property shall be for Grantor's account and Lender
<br />may pay such costs and expensesi from the Rents. Lender, in Its sole discretion, shall determine the application of any and all Rents received by
<br />it; however, any such Rents recel~ed by Lender which are not applied to such costs and expenses shall be applied to the Indebtedness. All
<br />expendItures made by Lender under this Assignment and not reimbursed from the Rents shall become a part of the Indebtedness secured by this
<br />Assignment, and shall be payable on demand, with interest at the Note rate from date of expenditure until 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 statemen~ of termination of any financing statement on file evidencing Lender's security interest in the Rents and the
<br />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 a~y action or proceeding is commenced that would materially affect Lender's Interest in the Property or If Grantor
<br />falls to comply wllh any provision bf this Assignment or any Related Documents, including but not limited to Grantor's failure to discharge or pay
<br />when due any amounts Grantor is required to discharge or pay under this Assignment or any Related Documents, Lender on Grantor's behalf may
<br />(but shall not be obligated to) take any action that Lender deems appropriate, Including but not limited to discharging or paying all taxes, liens,
<br />security Interests, encumbrances and other claims, at any time levied or placed on the Rents or the Property and paying all costs for Insuring,
<br />maintaining and preserving the Prbperty. All such expenditures incurred or paid by Lender for such purposes will then bear interest al the rate
<br />charged under the Note from the date incurred or paid by Lender to the date of repayment by Grantor. All such expenses will become a part of
<br />the Indebtedness and, at Lender'sioption, will (A) be payable on demand; (8) be added to the balance Of the Note and be apportioned among
<br />and be payable with any Installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining
<br />term Of the Note; or (C) be treate~ as a balloon payment which will be due and payable at the Note's maturity. The Assignment also Will secure
<br />payment of these amounts. Such right shall be In addition to all other rights and remedies to which Lender may be entitled upon Default.
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<br />DEFAULT. Each of the following, ~t Lender's option, shall constitute an Event 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 falls1to comply with or to perform any other term, obligation, covenant or condition contained In this Assignment or
<br />in any of the Related DocuTents or to comply with or to perform any term, obligation, covenant or condition contained In any other
<br />agreement between Lender ard Grantor.
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<br />Default on Other payments.,1 Failure of Grantor within the time required by this Assignment to make any payment for taxes or insurance, or
<br />any other payment necessary1to prevent filing of or to effect discharge of any lien.
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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 this
<br />Assignment or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished or becomes
<br />false or misleading at any time thereafter.
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<br />Defective Collaterallzatlon. iThlS Assignment or any of the Related Documents ceases to be In full force and effect Oncludlng failure of any
<br />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 dissolUtio~ 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 commencement of
<br />any proceeding under any bankruptcy or Insolvency laws by or against Grantor.
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<br />Creditor or Forfeiture proc~edings. 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 securing the
<br />Indebtedness. This Includes a garnishment of any of Grantor's accounts, including deposit accounts, with Lender. However, this Event of
<br />Default shall not apply if ther~ Is a good faith dispute by Grantor as to the validity or reasonableness of the claim which is the basis of the
<br />creditor or forfeiture proceeding and if Grantor gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender
<br />monies or a surety bond fori the creditor or forteiture proceeding, In an amount determined by Lender, in its sole discretion, as being an
<br />adequate reserve or bond fO~ the dispute.
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