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201002922 b. The Leases are and shall be valid and enforceable in accordance with their terms and have not been and shall not be altered, modified, amended, terminated, canceled, renewed or surrendered except as approved in writing by Master Collateral Agent. The terms and conditions of the Leases have not been and shall not be waived in any manner whatsoever except as approved in writing by Master Callateral Agent. c. To the best of Subsidiary's knowledge, there are no defaults now existing under any of the Leases and there exists no state of facts which, with the giving of notice or lapse of time or both, would constitute a default under any of the Leases. d. Subsidiary shall give prompt written notice to Master Collateral Agent of any notice received by Subsidiary claiming that a default has occurred under any of the Leases on the part of Subsidiary, together with a complete copy of any such notice. e. Each of the Leases shall remain in full force and effect irrespective of any merger of the interest of lessor and any lessee under any of the leases. f. Subsidiary will not permit any Lease to become subordinate to any lien other than the lien of this Instrument. This assignment is absolute, is effective immediately, and is irrevocable by Subsidiary so long as the Indebtedness remains outstanding. Notwithstanding the foregoing, until a Notice is sent to Subsidiary in writing that an Event of Default has occurred (which notice is hereafter called a "Notice"), Subsidiary may receive, collect and enjoy the rents, income and profits accruing from the Property. Upon the occurrence of an Event of Default hereunder, Master Callateral Agent may, at its option, after service of a Notice, receive and collect all such rents, income and profits from the Property as they become due. Master Callateral Agent shall thereafter continue to receive and collect all such rents, income and profits, as long as such default or defaults shall exist, and during the pendency of any foreclosure proceedings. Subsidiary hereby irrevocably appoints Master Collateral Agent its true and lawful attorney with power of substitution and with full power for Master Collateral Agent in its awn name and capacity or in the name and capacity of Subsidiary, from and after service of a Notice, to demand, collect, receive and give complete acquittances for any and all rents, income and profits accruing from the Property, either in its own name or in the Warne of Subsidiary ar otherwise, which Master Collateral Agent may deem necessary or desirable in order to collect and enforce the payment of the rents, income and profits of and from the Froperty. Lessees of the Property are hereby expressly authorized and directed, following receipt of a Notice from Master Collateral Agent, to pay any and all amounts due Subsidiary pursuant to the Leases to Master Collateral Agent or such nominee as Master Collateral Agent may designate in a writing 16 (Grand Island, Hall County, Nebraska) 10476803.5 14451-2246