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Loan IVo: 810172
<br />ASSIGNMENT F RENTS
<br />(continu d) 2 0110 3� 5� Page 2
<br />thereof and of all services of all employees, including their equipme t, and of all continuing costs and expenses of maintaining the
<br />Property in proper repair and condition, and also to pay all taxes, ass ssments and water utilities, and the premiums on fire and other
<br />insurance effected by Lender on the Property.
<br />Compliance with Laws. Lender may do any and all things to execut and comply with the laws of the State of Nebraska and also all
<br />other laws, rules, orders, ordinances and requirements of all other go ernmental agencies affecting the Property.
<br />Lease the Property. Lender may rent or lease the whole or any part f the Properry for such term or terms and on such conditions as
<br />Lender may deem appropriate.
<br />Employ Agents. Lender may engage such agent or agents as Lende may deem appropriate, either in Lender's name or in Grantor's
<br />name, to rent and manage the Property, including the collection and a plication of Rents.
<br />Other Acts. Lender may do all such other things and acts with resp ct to the Property as Lender may deem appropriate and may act
<br />exclusively and solely in the place and stead of Grantor and to have a I of the powers of Grantor for the purposes stated above.
<br />No Requirement to Act. Lender shall not be required to do any of he foregoing acts or things, and the fact that Lender shall have
<br />performed one or more of the foregoing acts or things shall not requir Lender to do any other specific act or thing.
<br />APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with the Property shall be for Grantor's account and
<br />Lender may pay such costs and expenses from the Rents. Lender, in its s le discretion, shall determine the application of any and all Rents
<br />received by it; however, any such Rents received by Lender which are ot applied to such costs and expenses shall be applied to the
<br />Indebtedness. All expenditures made by Lender under this Assignment and not reimbursed from the Rents shall become a part of the
<br />Indebtedness secured by this Assignment, and shall be payable on dema d, with interest at the Note rate from date of expenditure until
<br />paid.
<br />FULL PERFORMANCE. If Grantor pays all of the Indebtedness when due nd otherwise performs all the obligations imposed upon Grantor
<br />under this Assignment, the Note, and the Related Documents, Lender s all execute and deliver to Grantor a suitable satisfaction of this
<br />Assignment and suitable statements of termination of any financing state ent on file evidencing Lender's security interest in the Rents and
<br />the Property. Any termination fee required by law shall be paid by Granto , if permitted by applicable law.
<br />LENDER'S EXPENDITURES. If any action or proceeding is commenced t
<br />Grantor fails to comply with any provision of this Assignment or any Rel
<br />discharge or pay when due any amounts Grantor is required to discharge
<br />on Grantor's behalf may (but shall not be obligated to) take any actii
<br />discharging or paying all taxes, liens, security interests, encumbrances ai
<br />Property and paying all costs for insuring, maintaining and preserving thi
<br />such purposes will then bear interest at the rate charged under the Note i
<br />by Grantor. All such expenses will become a part of the Indebtedness a
<br />added to the balance of the Note and be apportioned among and be pay
<br />(1) the term of any applicable insurance policy; or (2) the remaining terr
<br />be due and payable at the Note's maturity. The Assignment also will sec
<br />all other rights and remedies to which Lender may be entitled upon Defaul
<br />it would materially affect Lender's interest in the Property or if
<br />ted Documents, including but not Iimited to Grantor's failure to
<br />r pay under this Assignment or any Related Documents, Lender
<br />i that Lender deems appropriate, including but not limited to
<br />I other claims, at any time levied or placed on the Rents or the
<br />Properry. All such expenditures incurred or paid by Lender for
<br />im the date incurred or paid by Lender to the date of repayment
<br />i, at Lender's option, will (A) be payable on demand; (B) be
<br />�le with any installment payments to become due during either
<br />of the Note; or (C) be treated as a balloon payment which will
<br />•e payment of these amounts. Such right shall be in addition to
<br />DEFAULT. Each of the following, at Lender's option, shall constitute an E�ent of Default under this Assignment:
<br />Payment Default. Borrower fails to make any payment when due un er the Indebtedness.
<br />Other Defaults. Borrower or Grantor fails to comply with or to perfo m any other term, obligation, covenant or condition contained in
<br />this Assignment or in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition
<br />contained in any other agreement between Lender and Borrower or G antor.
<br />Default on Other Payments. Failure of Grantor within the time r quired by this Assignment to make any payment for taxes or
<br />insurance, or any other payment necessary to prevent filing of or to e ect discharge of any lien.
<br />Default in Favor of Third Parties. Borrower or Grantor defaults und r any loan, extension of credit, security agreement, purchase or
<br />sales agreement, or any other agreement, in favor of any other cr ditor or person that may materially affect any of Borrower's or
<br />Grantor's property or ability to perform their respective obligations un er this Assignment or any of the Related Documents.
<br />False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or Grentor or on Borrower's
<br />or Grantor's behalf under this Assignment or the Related Document 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 tim thereafter.
<br />Defective Collateralization. This Assignment or any of the Related D cuments ceases to be in full force and effect (including failure of
<br />any collateral document to create a valid and perfected security inter st or lien) at any time and for any reason.
<br />Death or Insolvency. The death of Borrower or Grantor, the insolve cy of Borrower or Grantor, the appointment of a receiver for any
<br />part of Borrower's or Grantor's property, any assignment for t e benefit of creditors, any type of creditor workout, or the
<br />commencement of any proceeding under any bankruptcy or insolvenc laws by or against Borrower or Grantor.
<br />Creditor or Forfeiture Proceedings. Commencement of foreclosure o forfeiture proceedings, whether by judicial proceeding, self-help,
<br />repossession or any other method, by any creditor of Borrower or rantor or by any governmental agency against the Rents or any
<br />property securing the Indebtedness. This includes a garnishment of any of Borrower's or Grantor's accounts, including deposit
<br />accounts, with Lender. However, this Event of Default shall not appl if there is a good faith dispute by Borrower or Grantor as to the
<br />validity or reasonableness of the claim which is the basis of the cr ditor or forfeiture proceeding and if Borrower or Grantor gives
<br />Lender written notice of the creditor or forfeiture proceeding and d posits with Lender monies or a surety bond for the creditor or
<br />forfeiture proceeding, in an amount determined by Lender, in its sole iscretion, as being an adequate reserve or bond for the dispute.
<br />Property Damage or Loss. The Property is lost, stolen, substantially damaged, sold, or borrowed against.
<br />Events Affecting Guarantor. Any of the preceding events occurs wi h respect to any guarantor, endorser, surety, or accommodation
<br />party of any of the Indebtedness or any guarantor, endorser, sur ty, or accommodation party dies or becomes incompetent, or
<br />revokes or disputes the validity of, or liability under, any Guaranty of he Indebtedness.
<br />Adverse Change. A material adverse change occurs in Grantor's fi ancial condition, or Lender believes the prospect of payment or
<br />performance of the Indebtedness is impaired.
<br />Insecurity. Lender in good faith believes itself insecure.
<br />RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Eve t 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 ights or remedies provided by law:
<br />Accelerate Indebtedness. Lender shall have the right at its option o 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 Borro er 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 Indebtednass.
<br />In 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 irrevoc bly designates Lender as Grantor's attorney-in-fact to endorse
<br />instruments received in payment thereof in the name of Grantor an to negotiate the same and collect the proceeds. Payments by
<br />tenants or other users to Lender in response to Lender's demand hall 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 />Other Remedies. Lender shall have all other rights and remedies prov�ded in this Assignment or the Note or by law.
<br />Election of Remedies. Election 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 u der this Assignment, after Grantor's failure to perform, shall not
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