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201100260
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1/13/2011 2:15:19 PM
Creation date
1/13/2011 2:15:16 PM
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DEEDS
Inst Number
201100260
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201100260 <br />(cc) "Insolvency Laws" means the United States Bankruptcy Code, 11 C1.S.C. § 101, <br />et seq., together with any other federal ar state law affecting debtor and creditor rights or relating <br />to thc bankruptcy, insolvency, rearganization, arrangement, readjustment af debt, dissolution, <br />liquidation or similar proceeding, as amended from time ta time, to the extenl applicable to the <br />Borrower. <br />2, UNYFO�tM C�DMMERCIAL CODE SECURITY AGREEMENT. <br />This Instrument is also a security a�reement under the Uniform Commercial Code for any <br />of the Mortgaged Property which, under applicable law, may be subject to a security interest under <br />the Uniform Corramercial Code, whether acquired now or in the future, and all products and cash <br />and non-cash proceeds thereof (coll�ctively, "U��' Collateral"), and Borrawer hereby grants to <br />Lender � security interest in the UCC Callateral. �orrower hereby autharizes Lender to file <br />financing statements, cantinuation statements and financing statement amendments in such form as <br />Lender rnay require to perfect or continue the perfection of this security interest and Borrower <br />agrees, if Lender so requests, to ex�cute and deliver ta Lender such financing statements, <br />continuation statements and amendments. Borrower shall pay all filing cnsts and all costs and <br />cxpenses of any recard searches for financing statements that Lender may require. Withaut the <br />prior written consent af Lender, Borrower shall not create or permit to exist any ather lien or <br />security interest in any af the UCC Collateral. If an Event of Default has occurred and is <br />continuing, Lender shall have the remedies af a secwed party under the Uniform Commercial <br />Codc, in additian to all remedies provided by this Instrument or existing under applicable law. In <br />exercising any remedies, L�nder may exercise its remedies against the UCC Cvllateral separately or <br />together, and in any arder, without in any way affectin� the availability of Lender's ather remedies. <br />This Instrument constitutes a financing statement with respect to any part of the Mortgaged <br />Praperty which is or may become a Fixture. <br />3. ASSIGNMENT OF RENTS; APPQINTMENT OF RECEIVER; LENDER <br />IN POSSESSYDN. <br />(a) As part of the consideration for the Indebtedness, Borrower absolutely and <br />unconditionally assigns and transfers to Lender all Rents. It is the intention of Borrower to establish <br />a present, absolute and irrevocable transfer and assignment ta Lendcr of all Rents and to authorize <br />and empower Lender to collect and receive all R.ents withaut the neccssity of further action an the <br />part of Borrawer. Pramptly upon reyuest by T.,ender, Borrower agrees to execute and deliver such <br />further assignments as Lender may from time to time require. Borrower and Lender intend this <br />assignment of Rents to be immediately effective and to constitute an absolute pres�nt assi�nmcnt <br />and not an assignment for additional security only. Fnr purposes af giving eff'ect to this absolute <br />assignment of Rents, and for no other purpose, Rents shall nat be de�med to be a part of the <br />"Mortgaged Property," as that term is defined in Section 1(s). However, if this present, absolute <br />and unconditional a;;sigrunent af l�ents is nat enfarceable by its tcrms under the laws of the <br />1'roperty ]urisdiction, then the Rents shall be included as a part af the Mortgag�d Property and it is <br />the intention of the Borrower that in this circumstance this Instrument create and perfect a lien on <br />Rents in favor of Lender, which lien sha11 be effective as of the date of this Instrument. <br />FANNIE MAE MULTiFAMILY SECURITY INSTRUME1vT - Form 402$ 06/09 Page 7 <br />NEBRASKA <br />Q� 1997-2�09 Hsnnic Mae <br />
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