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<br />200805914 <br /> <br />ASSIGNMENT OF RENTS <br />(Continued) <br /> <br />Page 2 <br /> <br />loan No: 9010558 <br /> <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. <br /> <br />LENDER'S EXPENDITURES. If Grantor fails (A) to keep the Property free of all taxes, liens, security interests, encumbrances, and other <br />claims, (B) to provide any required insurance on the Property, or le) to make repairs to the Property then Lender may do so. If any <br />action or proceeding is commenced that would materially affect Lender's interests in the Property, then Lender on Grantor's behalf may, <br />but is not required to, take any action that Lender believes to be appropriate to protect Lender's interests. All expenses incurred or paid by <br />Lender for 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 <br />repayment by Grantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; <br />(B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during <br />either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment <br />which will be due and payable at the Note's maturity. The Assignment also will secure payment of these amounts. The rights provided for <br />in this paragraph shall be in addition to any other rights or any remedies to which lender may be entitled on account of any default. Any <br />such action by Lender shall not be construed as curing the default so as to bar Lender from any remedy that it otherwise would have had. <br /> <br />DEFAULT. At Lender's option, Grantor will be in default under this Assignment if any of the following happen: <br /> <br />Payment Default. Grantor fails to make any payment when due under the Indebtedness. <br /> <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. <br /> <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 />ability to perform Grantor's obligations under this Assignment or any of the Related Documents. <br /> <br />False Statements. Any 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. <br /> <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. <br /> <br />Death or Insolvency. The death of Grantor, the insolvency of Grantor, the appointment of a receiver for any part of Grantor's <br />property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under <br />any bankruptcy or insolvency laws by or against Grantor. <br /> <br />Taking of the Property. Any creditor or governmental agency tries to take any of the Property or any other of Grantor's property in <br />which Lender has a lien. This includes taking of, garnishing of or levying on Grantor's accounts with Lender. However, if Grantor <br />disputes in good faith whether the claim on which the taking of the Property is based is valid or reasonable, and if Grantor gives <br />Lender written notice of the claim and furnishes Lender with monies or a surety bond satisfactory to Lender to satisfy the claim, then <br />this default provision will not apply. <br /> <br />Property Demege or Loss. The Property is lost, stolen, substantially damaged, sold, or borrowed against. <br /> <br />Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation <br />party of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or <br />revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness. <br /> <br />Insecurity. Lender in good faith believes itself insecure. <br /> <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: <br />-. . ,'" ,.." - , .. ,.. .. . <br />Accelerate Indebteilness. Lender shall have the right at its option to declare the entire -Indebtedness immediately du"a" and p"ayable, <br />including any prepayment penalty that Grantor would be required to pay. <br /> <br />Collect Rents. Lender shall have the right, without notice to Grantor, to take possession of the Property and collect the Rents, <br />including amounts past due and unpaid, and apply the 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 payment 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 shall 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. <br /> <br />Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Property, with <br />the power to protect and preserve the Property, to operate the Property preceding foreclosure or sale, and to collect the Rents from <br />the Property and apply the proceeds, over and above the cost of the receivership, against the Indebtedness. The receiver may serve <br />without bond if permitted by law. Lender's right to the appointment of a receiver 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. <br /> <br />Other Remedies. Lender shall have all other rights and remedies provided in this Assignment or the Note or by law. <br /> <br />Election of Remedies. All of Lender's rights and remedies will be cumulative and may be exercised alone or together. An election by <br />Lender to choose anyone remedy will not bar Lender from using any other remedy. If Lender decides to spend money or to perform <br />any of Grantor's obligations under this Assignment, after Grantor's failure to do so, that decision by Lender will not affect Lender's <br />right to declare Grantor in default and to exercise Lender's remedies. <br /> <br />Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Assignment, Lender shall be <br />entitled to recover such 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 />necessary at any time for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable <br />on demand and shall bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph <br />include, without limitation, however subject to any limits under applicable law, Lender's attorneys' fees and Lender's legal 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), surveyors' reports, and appraisal fees, title insurance, and fees for the <br />Trustee, to the extent permitted by applicable law. Grantor also will pay any court costs, in addition to all other sums provided by <br />law. <br /> <br />COUNTERPARTS. This document may be executed in any number of counterparts, each of which shall be deemed to be an original, as <br />against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument. This <br />document shall become binding when one or more counterparts hereof, individually, or taken together, shall bear the signature of all the <br />parties reflected hereon as the signatories. <br /> <br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Assignment: <br /> <br />Amendments. What is written in this Assignment and in the Related Documents is Grantor's entire agreement with Lender concerning <br />the matters covered by this Assignment. To be effective, any change or amendment to this Assignment must be in writing and must <br />be signed by whoever will be bound or obligated by the change or amendment. <br /> <br />Caption Headings. Caption headings in this Assignment are for convenience purposes only and are not to be used to interpret or <br />define the provisions of this Assignment. <br /> <br />Governing Law. This Assignment will be governed by federal law applicable to Lender and. to the extent not preempted by federal <br />law. the laws of the State of Nebraska without regard to its conflicts of law provisions. This Assignment has been accepted by <br /> <br />..-:- <br />