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2Q1oaiss2 <br />the Loan Agreement. <br />(c) Assignor hereby agrees to indemnify and hold Lender harmless from and <br />against any and all liability, loss, damage or expense which Lender may incur under or by reason <br />of: (i) this Assignment; (ii) any reasonable action taken by Lender to protect its security <br />hereunder; or (iii) the defense of any and all claims and demands whatsoever which may be <br />alleged against Lender arising out of the Leases or the Contracts, or by reason of any alleged <br />obligation to perform any of the terms of the Leases or the Contracts, including but not limited <br />to, any and all claims by any Tenants of credit for rental for any period under any of the Leases <br />more than one (1) month in advance of the due date thereof or any security deposits paid to and <br />received by Assignor, but not delivered to Lender. Should Lender incur any such liability, loss, <br />damage ar expense under the Leases, the Contracts or this Assignment, or in the defense of any <br />such claims the amount thereof, including costs and reasonable attorneys' fees incurred, with <br />interest thereon at the Default rate provided in the Note, shall be payable by Assignor <br />immediately upon written demand, and shall be secured by the Loan Documents. <br />(d) Lender's failure to avail itself of any of the rights and remedies set forth in <br />this Assignment for any period of time or at any time shall not be construed or deemed to be a <br />waiver of any such right or remedy and nothing herein contained nor anything done or omitted to <br />be done by Lender pursuant hereto shall be deemed a waiver by Lender of any of its rights and <br />remedies under the Note and Loan Documents or of the benefit of the laws of the State of <br />Nebraska. <br />(e) If any provision of this Assignment or the application thereof to any entity, <br />person or circumstance shall be invalid or unenforceable to any extent, then the remainder of this <br />Assignment and the application of such provisions to other entities, persons, governmental <br />agencies or circumstances shall not be affected thereby and shall be enforced to the greatest <br />extent permitted by law. <br />(f) No variations, modifications or changes herein or hereof shall be binding <br />unless set forth in a document duly executed by Lender and Assignor. <br />(g) This Assignment shall be governed by and construed in accordance with <br />the laws of the State of Nebraska. <br />(h) Notwithstanding anything contained herein to the contrary, in no event <br />shall this Assignment be deemed to reduce the indebtedness evidenced by the Note by an amount <br />in excess of the actual amount of cash received by Lender under the Leases; whether before, <br />during or after the occurrence of an Event of Default as defined in the Loan Documents, and <br />Assignor acknowledges that in na event shall the indebtedness secured hereby be reduced by the <br />value from time to time of the Rents of or from the Property. In addition, Lender reserves the <br />right, at any time, whether before or after the occurrence of an Event of Default as defined in the <br />Loan Documents, to recharacterizc this Assignment as merely constituting security for the <br />7 <br />