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ASSIGNMENT OF RENTS 2 Q i O(I 7 6� i
<br />Loan No: 34U8320944 (Corltinued) Page 3
<br />Default on Uther 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 />Default in Favor pf Third Parties. 8arrower or Grantor defeults under any Ioan, extension af credit, security agreement, purchase or
<br />sales agreement, ar any pther agreemant, in favor of any other creditor or person that may materially affect any of Borrower's or
<br />Grantor's property or ability to perform their respective nbligations under this Assignment or any of the Related Documents.
<br />False Statements. Any warranty, reprasentatian or statement made or furnished tv Lender by Borrower or Grantor or on Borrower's
<br />or Grantor's behalf under this Assignment or the Related Documents is false or misleading in any material respect, either now or at
<br />the time made or furnished or becomes false or misleading at any time thereafter.
<br />Defective Collateralization. This Assignment or any of the Related Oocuments ceases to be in full force and effect (inciuding failure of
<br />any collateral document to create a valid and perfected security interest or Iien) at any time and for any reasnn.
<br />Insolvency. The dissolution or termination of Borrower's or Grantor's existence as a going business, the insolvency of Barrower or
<br />Grantor, #he appaintment of a receiver for any part of Borrower's or Grantor's property, any assignment for the benefit of creditors,
<br />any type of creditor wnrkout, or the commencament nf any procaeding under any k�ankruptcy or insolvency laws by or against
<br />Borrower or Grantor.
<br />Creditor qr Fprfeiture Procaedings. Commencement of foreclosure or torfeiture proceedinga, whether by judicial proceeding, self-help,
<br />repossession or any othar method, by any creditar pf 8orrower or Grantor or by any gpvarnmental agency against the Rents or any
<br />property securing the Indebtedness. This includes a garnishment of any nf Borrower's or Grantor's accounts, including deposit
<br />accounts, with Lender. However, this Event of Default shall npt apply if there is a gpod faith dispute by Borrower or Grantor as to the
<br />validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Borrower or Grantor gives
<br />Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or
<br />fnrfei#ure proceading, in an amount determined by Lender, in its sole discretian, as being an adequate reserve or band for the dispu[e.
<br />Property Damage ar Loss. The Property is lost, stolen, substanti�lly damaged, sold, or horrowed against.
<br />Events Affecting Guerantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation
<br />party of any of the Indebtedness or any guarantpr, endorser, surety, or accommadation party dies or becomes incompetent, or
<br />revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness.
<br />Adverse Change. A material adverse change occurs in Grantor's financial condition, or Lender believes the prospect of paymant ar
<br />performance of the Indebtedness is impaired.
<br />Insecurity. Lender in good faith believes itself insecure.
<br />RIGHTS AND REMEDI�S QN DEFAULT. Upon the occurrence of any Event of Default and at any time thereafter, Lendar may exercise any
<br />one or mprs of the following rights and remedies, in addition to any other rights or remedies provided by law:
<br />Accelerate Indebtedness. Lender shall have the right at its option to declare the entire Indebtedness immediately due and payable,
<br />including any prepayment penalty that Borrower would be required to pay.
<br />Collect Rents. Lender shall have the right, without notice to Borrower or Grantor, to take possession of the Property and collect the
<br />Rents, including amounts past due and unpaid, and apply the net proceeds, over and above Lender's costs, against the Indebtedness.
<br />In furtherance of this right, Lender shell have all the rights providad for in the Lender's Right tn Receive and Collect Rents Section,
<br />abave. If the Rents are collected by Lender, then Grantor irrevoca6ly 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 resppnse to Lender's demand shall satisfy the obligatians for which the paymen#s 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 />�y agent, or through a receiver.
<br />Other Remedies. Lender shall have all other rights and remedies provided in this Assignment or #he Npte or by law.
<br />Election pf Remedies. Electivn by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make
<br />expenditures or to take action to perform an obligation of Grantor under this Assignment, after Grentar's failure to perform, shall not
<br />affect Lender's right ta declare a default and exprcise its ramedies.
<br />Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of tha terms of this Assignment, Lender shall be
<br />entitled to recover such sum as the court may adjudge reasonable as attnrneys' 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 Lander's apinion 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, hpwever subject tv any limits under applicabla 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 afforts to modify or
<br />vacate any automatic stay or injunctionl, appeals, and any anticipated post-judgment collection services, the cost of searching
<br />records, obtaining title reports (including forec�osure reports►, surveyors' reports, and appraisal fees, title insurance, and fees for the
<br />Trustea, 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 />FURTH�R ASSURANCES. The parties hereto agree to do all things deemed necessary 6y Lender in order to fully document the loan
<br />evidenced by this Note and any related agreements, and will fully cooperate concerning the execution and delivery of security agreements,
<br />stock powers, instructions and/or other dacuments pertaining to any collateral intended to secure the Indebtedness. The undersigned
<br />agree to assist in the cure of any defects in the execution, delivery or substanca of the Note and related agreements, and in the creation
<br />and perfection of any liens, security interests pr athar collateral rights securing the Note. Borrower further agrees ta pay Lender
<br />immediately upon demand the full amount of ell charges, costs and expenses (to include fees paid to third parties) expended or incurred by
<br />Lender to monitor Lender's interest in any real property pledged as collateral for this Note, including withnut limitation all costs of
<br />appraisals.
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