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<br /> t2-23-�t938 AS�IGNM�NT OF R�NTS ����.���� P�ge 2 ...
<br /> Loen No 371872 (Contlnued) ,
<br /> Ronte. The word "Rents"me3ns all rents,rsvenue�, InCOme,Isouo9, profits dnd proCOeds Irom Ihe ProperSy,wholhHr duo now or Ini9r, �
<br /> includinp wllhoul Ilmltetlon ell Rents from RII leasa3 de3crlbsd on eny exhlDlt Altached lo thb AsslflnmenL �x�
<br /> TMI9 ASSIRN�lENT IS OIVEN TO SECUiiE (1) PAYMENT bF THE INDEBTE'DNH38 AWD (4j i�ERFORMANCE OF ANY AND ALL =
<br /> OBl.lOATfON9 OF (iRANTOR UNQ�R TFIE NOTE,TMIB A381GRMEPiT,AND Tli� RELATF.O OOCUMENTB. THIS AS8IQNMEHT IS GIVEN r�
<br /> AHD ACCEPTED ON THE FOLLOWINf3 THRMS: �
<br /> ,� PAYMEHT AHQ PERFORMANCE. Except as otherwlse provlded In this Asslflnment a any Related Documenl,Qrantor ehull pay to Lender ell
<br /> . l amouni�sccurod by Ihl.^.Aw,lynm�nt r,s thoy b3com�duo,end shnll sMctty pCrfOrm nil o�QrtlntOrs Oblle�ptlon9 under this Assiflnrnent. Unless end
<br /> ; I unlil lender exerclses Its right to coileCt the Ronts e�provlded balow and so lonp as there Is no defeult under thls As.Sipnmenl,Granlor mfly remain i
<br /> 1 in possesslon and control ot and operate and manAge the Proporty and colleCt tho Rents,providetl that the grantinp ot the right to collAat the Rents
<br /> � shall n�t cansfltute Lender's Consont to ths use o!cash Collatorni In a bankruptcy proce�?d�n�.
<br /> - I GRAHTOR'S REPR6SEHTATIONS AND WARRI�NTIES WITH RE8PECT TO THE RQITB. With rospect to the Renls, �ranlor represents and -
<br /> , I warrant3 to Lender that: :.•
<br /> Ownerahip. Grantor is entll3ed to rece(ve the Rents frF�e and clear of ail dghts,loans,Ilans,encumbrances,nnd clalms oxoopl es dl,closed io :
<br /> and ucxpt�d by Londor in wdilnp. � ���� , ��
<br /> , . ="� Rtpht to Asslp�i. Qrantor has the ful!dpM,power,and authority to enlor IMo thls Ass�nrneM and lo asslQn and convey tho Rents to Lender. ,. _
<br /> . ...,�:�..: - - �-�,;ic•� � —.
<br /> No Prlor Asslpnment. Qrantor has not previousiy usslpnotl or convayed Ihv Ronts lo uny othpr porson by 9rry Insttumenl now In lorce. , .
<br /> ' No Furthet Tramior. Grantor wlll r+ot sWl,wslpn,oncumbar,or otherwlse dispose of any ol Orantor's�Ighb In the Rente except as proWded In , ��,��._
<br /> ' Ihis Agreement.
<br /> "�?�!77�:-
<br /> LEHDEA'8 RIOHt'TO COLLECT RENTS. Lendar shall have the ripht ai any timo, and even thouph no defautt shall havo xCUrrod under thls � ;.�r.��-�.,,�-•r
<br /> � � I Asslpnment,to collect and recelve the Rents. For this purpose,Lender Is hereby piven eM pranted lha followinp rlphts,powere�nd�uthority:M1 � '`�`�:�='' --
<br /> Notice tq Tenants. Lender may eend nottca to any and ull tenanta of the Prnpeny�dvislnp fher�i ollhis Asslynrcnt and dim.�tinp atl Et.nNs lo ;_, -
<br /> � be pild dlrectly lo Lender or Lentler's apent. I =—�----
<br /> Ent�r ih�Pro{»rty. LYnd�r m�y entor upon�nd t�k�possASSlon ol tFw Prop�rty;dem�nd, cd�cl�nd rtcNw(rom 1M Nnanro w hom�ny �
<br /> other poraons Ilibte Ihorotor,ali of Ihe R�nts;In�tilut��nd C�rry on all Ipel prceesdnpa iwcoss�ry fw Ih�protoctlon of tha Propety,Includinp i �°�"����iv�'"
<br /> tuoh proce�dl �f may b�r►�cetwry to acowr paNttlpn of IM Pr y bntnt nr I�na�b a oth�r � "��
<br /> „ � op�rty;coNct IM Fi�nb�nd r�mow an I ���
<br /> pereonf from Iho Pro�erty. � ������
<br /> � . MNntMn IM Pro{NAy. UntNr miy�nIK upon tIH Prop�rfy to maln4�n Ih�prop�rly�nd k�p ih�sartw In npali;to pay tM co�t�lMr�of tnd K , ,.,.�'���
<br /> � of dl e�rvlcM of�II�mploy�es,Inc!udinp Ih�lr�qulpnwnt,�nd ol a!i continulrp cosb�nd oxprnses af malnlalnlnp th�Propwty!n proper repdr !;��;�
<br /> ` �nd condllion,tnd dso to pay all hx�,asaK�rtHnb and watw utllities,�nd th� pnmlum�on Ars�nd otl»r Insunnos eM�cbd by Lmdw on
<br /> ' Ih�Propaty. •,. � �
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<br /> Compfianc�with L.�w�. Lendor may do any�nd oll thlnps to exaaute�nd compry with the lawa of tho Stat�ot Nebroska and also�II othx
<br /> lows,rule9,ordere,ordirs�noas and requlrertwnts of ell other povernmontel YpenclesoNaatinp the PropOrty. .�;;�,_�'a�},
<br /> _�..� Les�e tAe Property. Lendor may roM or laase lhe whole or any part of the Properry lor suoh term or terms and on such condlUons Qs Lender . 3;��
<br /> -_ -�' # mny deem epprop�late. ,
<br /> � [mptoy Apenta. Lender may ongage such apent or apents as Lender mey deem appropdate,either In Lender's name or In Grenlors name,to '�
<br /> ,, rent end manaye the Property,Includinp iho cWlection and epp!�ation ot Rents. °�'.s,
<br /> � Other Acla. Lender may do all such other thinfls ancl acts wlth respect to the Property as l.onder mfly deem epproprietg and may ect �
<br /> � exclusfvely and adety In the place and slead of(irantor and to havo ali of the powe�9 of C3rentor for the purposes sffiled nbove. ;�'
<br /> � No Requirement b Act. Lender ahall not be requlred to do any ot the forepoing ac�or IhinpS,and the(act lhat Lender shall hnve performed .,
<br /> f,� one or more of the torepolnp acts or thinqs sh�ll not require Lender to do any other apsciflo ap4 or thinq. '
<br /> i � APPLICATION OF RENTS. All cosfs and e�enses Incurrad by Lender In connecHon wlth the Property shail be for Cirtntor's account and Lender a� '�-�
<br />' '� may pay such costs and expenses hom the Ren��. Lender,In its sWe dlscretion,sha11 delerrnine the eppllcatlon of any ind all Renb rece►vea by It;
<br /> '�;" however, any such Rents rec�alved by Lender whlch are not applbd to suoh oosts�nd expenses shail be epplled to the Indebtadness. All �
<br />- expenditures made by Lendsr under t11s Asslpnment and not reimbursed Bom the Renb shaN beoome e part of the Indebtedness seCUred by thls
<br /> Asslpnment,end sha�be payable on demand,wHh Interest at the Note rate from date ot expendfluro unflt pAld. !L--
<br />_ " FULL PEAFORINANCE. If Oranta pays ail of ihe Indobtedness when due and otherwise pertorms all the oblqsNons Imaosed upon Oranta undw �,�"�'a
<br /> �' this Assipnm�nt,tho Note,and the Rolntod Doouments,Lender shell execute end detiver to �rantor a suiteblA saNsfaoUan of fhis Asslpnrtwn4 and �
<br /> - `?' sulteble stntements of termination of any financinp statement on fite ovidencing Lende�s seburity Interest in the Renls and tlw Propxty. Any
<br /> - - � .,",�;`< termination tee requlred by law shall be pald by Orantor,if permitted by e�plicabla law. �"`�_
<br /> _ . ` EXPENDITUREB BY LEKDER. If C3rantor falls to camply with eny provislon of this Asslpnmenl,or If any aoNon or procaedlnp Is commenced ttwt !;�"-°""" _
<br /> ' would meteria:ly aHect Lenders Interests In the Property,Lender on Qranta's behaif may,bui shall not be roqulred to,uke nny acUon thet lender �.^
<br /> � „ �� . t deems epprQpdete. Any amount that Lender expends In so dolnp wlll bear Interest et the rato provided for In the Note from the dute incurred or pald =
<br /> . by Lender to the date ot repayment by Orantor. All such expenses,at Lender'a option,vn�(�)be payable on demand, (b)be added to the balence �"�v___
<br /> of fhe Nnte and bo flpportloned emonp and be poyabte with any instaliment payments lo become due dudnp elfher (q Ihe term ot flny applicable ,�,,..��
<br /> �. Insurance policy or N)the remelning term o!the Note,or (c)be treated as a beiloon payment wh�h wlit ba due tnd paynble at the Nota's mnturity. �
<br />- s This Assignmont aiso Kill secure paymont of these amounts. The riflhb provided fa In INS parepreph shall be In eddlUOn to eny othor righls or any �;_._
<br /> . . , � remedlqs to w�lch Lender may be enHtled on eccount of ihe defeuit. Any such aoUon by lender shall not bo conshuod as cu�lnp the default so as to r ° -
<br /> bar Lender trom any remedy thet H otherwise would have had. ,,s�� �
<br /> ' DEFAULT. Each of thA tollowiny,at the option of Lender,shell constitute an event of detautt('�vent of Default'�under thls Asslpnment: t�Y�`-==`
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<br /> • � � s+- Detauli on Indebtedness. Fatlure of Grantor to make any payment when due on the Ind9bledness. �������
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<br /> , .����°�rs�i%�:
<br /> _ � ° Complf�nCe DOfeult. Ffllluro of�rnntor to comply wflh eny other term,�bligation, CovCnAnt or condHlon contatnod In thls Asstpnment,ihe Note :y-�;•�w •w
<br /> - Y'• i
<br /> -� :i or In nny ot the Related Oceuments. •,;�:-�?�' -�-W'
<br />�, ` Detault In Fpvor ot Third Partlea. Should Borcower or any Cirentor delauit under eny loan,exlenslon of cradit,secur(ry aqreement,purohase ;} �.,;�.::�x��-•; ��
<br /> w� or sales apreement,or any other agruement,In favor of eny olher credlior or pereon thet may matedatly ntlect sny of Borrow�s property or ` '� • '.
<br /> � Bortowers or any (�rantor's abllity to rop3y the Loans or perform tholr respective obllpatfons undor thlE Ass(pnment qr eny of thB I�olated -� „�•� �
<br /> � Doouments. '"`��
<br /> - F�IsO Sll�lement8. Any w8rranty,roprosentetlon or statement made or furnished lo Lendar by or on behalf of Qrentor under thls Asslgnment,
<br /> the Note or the Rotated Documents Is faise or misleadinp In any materlal respoct,eitha now or at tho tlme made or furnlshed. .
<br /> � Detect�ve Coll�terellzalion. 7his Asslpnment or eny ot the Related DoCUments ceeses to be In fuil force and oN6Ci (inCtudlnq fallure of any "' �
<br /> culleteral documents to create a valid and pertected securfry Interest or Ifen)at eny tlme and for any reason. "
<br />� Other DeTauits. Fallure n(Grnntor to comply with eny torm,oblipatlon,cover.anl,or condltlon conlalned In any other aprecment betweon "
<br /> - GrantOr end Lender. '
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<br /> Death or Insolvency. The death of Grantor or the dlssolution or termination of Grnntor's exlstonce ns e polnp businoss,the Insolvency ot � '
<br /> � (3ranlor, the appotntment of e receiver(or eny part of Grantor's property, any assignment for the beneSt of credltora, eny type of creditor , •
<br /> - workout,or the commencamont of any proceedinp under eny bankruplcy or Insolvency laws by or apalnst Grentor.
<br /> ' Foreelosure,Forteilure,elc. Commor�cemeM of forociosure or lorfelturo procoodinps, whother by Judlolal prxeeding,selMhelp,repossasslon
<br /> , or any other malhod,by eny croditor of Orantor w by eny governmental agency agelnst any of the Proporty. Howevor,thls subsectlon shnii not
<br /> apply In tho event of a good taHh dispute by(irentor es lo tho validlty or roasonabtenoss of the clalm whlch Is tho basls of the foreclosuro or ,
<br /> --: torefelture proceedinp,proNdad that Orantor gives Lo�der wrliton notbe of such delm end furnlshes roserves or n surety bond tar the c!alm ,.
<br /> � sad3factoryto Lander.
<br /> � Events ANectinp Guerantor. Any of the preceding events occurs wlth raspsct to eny Guarentor of eny of the Indsbtedness or nny Guarantor
<br /> dies or becomes Incompetont,or rovokes w disputes the velidity of,or Iiebiiity under,nny Guaranty of the Indebtednoss. Lender,at fts optlon,
<br /> � may,but shali not be requlred to, permit tho Ouarantors ostato to assume uncanditionully the abllgaGons ttrlsing under the guernniy In a
<br /> manner salisiaclory to Lender,end,In doing so,cure the Evont ol Dofnuti.
<br /> _ � ' Adverse Chenge. A malertal ndverso chanQe occurs In Cirantor's flnanclai cmdltlon, or Londer belleves the prospect of payment or
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