200805276 - Laserfiche WebLink

Browse

200805276 therefor, enter upon the Premises and remove the same therefrom. Lender may in its discretion require Trustor to assemble all or any part of the UCC Collateral at such location or locations as Lender may reasonably designate. Unless the UCC Collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, Lender shall give to Trustor at least 10 calendar days' prior written notice of the time and place of any public sale of UCC Collateral or of the time after which any private sale or any other intended disposition is to be made. Trustor acknowledges that 10 calendar days' prior written notice of such sale or sales shall be reasonable notice. In addition, Trustor waives any and all rights that it may have to a judicial hearing in advance of the enforcement of any of Lender's rights and remedies hereunder, including, without limitation, Lender's right following an Event of Default to take immediate possession of the UCC Collateral and to exercise its rights and remedies with respect thereto. 3.7 Proceeds of Dispositions; Expenses. Trustor shall pay to Lender on demand any and all expenses, including reasonable attorneys' fees and disbursements, incurred or paid by Lender in protecting, preserving or enforcing Lender's rights and remedies under or in respect of any of the Obligations or any of the UCC Collateral. After deducting all of the foregoing expenses, the residue of any proceeds of collection or sale or other disposition of the UCC Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference as Lender may determine. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the UCC, any excess shall be returned to Trustor. In the absence of final payment and satisfaction in full of all of the Obligations, Trustor shall remain liable for any deficiency. ARTICLE 4 ASSIGNMENT OF LEASES AND RENTS 4.1 Assignment of Leases and Rents. Trustor assigns, transfers, conveys, sets over and grants to Lender a security interest (pursuant to Section 52-1701 et seq. of the Revised Statutes of Nebraska) in all of Trustor's estate, right, title and interest in and to any Leases and Rents in connection with the Trust Estate and gives to and confers upon Lender the right, power and authority to collect such Rents; to give receipts, releases and satisfactions; to sue, in the name of Trustor or Lender, for all Rents; and to apply the Rents to the payment of the Obligations in such order as Lender shall determine. Trustor further irrevocably appoints Lender its true and lawful attorney-in-fact, at the option of Lender at any time and from time to time, to demand, receive and enforce payment, to give receipts, releases and satisfactions, and to sue, in the name of Trustor or Lender, for all Rents. Trustor authorizes and directs the lessees, tenants and occupants to make all payments under the Leases directly to Lender upon written demand by Lender, without further consent of Trustor; provided, however, that Trustor shall have the right to collect such Rents (but not more than one month in advance unless the written approval of Lender is first obtained), and to retain and enjoy same, so long as a Default shall not have occurred. The assignment of the Rents made in this Section is intended to be an absolute, present assignment from Trustor to Lender and not merely the passing of a security interest. Rents collected subsequent to any Event of Default shall be applied at the direction of, and in such order as determined by, Lender to the costs, if any, of taking possession and control of and managing the Trust Estate and collecting such amounts, including to reasonable attorney's fees, 4820-8559-3602.1 8