|
201109427
<br /> ASSIGNMENT OF RENTS
<br /> Loan No:810291 (Continued) Page 3
<br /> irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments receivetl in payment thereof in
<br /> the name of Grantor and to negotiate the same and�co0ect the proceeds. Payments by tenants or oiher usees to
<br /> Lender in response to Lender's demand shall satisfy the obligations for which the paymenYS are made,whether or
<br /> not any proper grounds for the demand existed. Lender may exercise its rights under fhis subparagraph either in
<br /> person,by agent,or through a receiver.
<br /> Other Remedies. Lender shall have all other rights and remedies provided in this Assignment or the Note or by
<br /> law.
<br /> Election of Remedies. Election�6y�Lender to pursue any remedy shall not exclude pursuit of any other remedy,and
<br /> an election m make expenditures or to take action to peTform an obligation of Grantor under this Assignment,after
<br /> Grerrtor's failure to perform,shall not affect,Lender s.�righYto declare a def2ult and exercise its remedies.
<br /> Attorneys'Pees;Expenses. li Lender institutes any suit oraction to enforce any of the terms of this Assignment,
<br /> Lender shall be entitled to recover such sum as ihe court may adjudge reasonable as attomeys'fees at trial and
<br /> upon any appeal. Whether or not any court action is involved, and to the extent not prohibited by law, all
<br /> reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of its
<br /> interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear
<br /> inte�est at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include,
<br /> without limitation,however subject to any lirnits under applicable law,Lender'S attorneys'fees and Lender's legal
<br /> � expenses, whether or not there is a lawsuit, including attorneys' fees and expenses for bankruptcy proceedings
<br /> (including efforts Yo modify or vacate any automatic stay or injunctioN,appeals,and any anticipated post-judgment
<br /> coilection services,the cost of searching records,obtaining Eitle repo�ts fincluding foreclosure reports),surveyors'
<br /> reports, and appraisal fees, title insurance, and fees fnr the Trustee,to the ex[eni permitted�by applicable law.
<br /> Grantor also will�pay any court costs,in addition to all other sums provided by law. -
<br /> MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Assignment:
<br /> Amendments. This Assignment,together with any Releted Documents,constitutes the entire understanding and
<br /> agreement of the parties as to ihe matters set forth in this Assignment. No alteration of or amendment to this
<br /> Assignment shall be effective unless given in writing and signed by the party or parties sought to be charged or
<br /> bound by the alteration or amendment.
<br /> Caption Headings. Caption headings in this Assignment are for convenience purposes only and are not to 6e used
<br /> to interpret or define the provisions of this Assignment.
<br /> Governing Law. This Assignment will be governed by federal law applicable to Lender and; to the extent not
<br /> preempted by federa!law,'the laws of the State ofi Nebreska.without regard to its conflicts of law provisions. This
<br /> Assignment has been accepted by Lender in the State of Nehraska.
<br /> Choice of Venue. If there is a lawsuit, Grantor ag�ees upon Lender's request to submit to the junsdiction of the
<br /> courts of HaII County,State of Nebraska.
<br /> Merger. There shall be no merger of the inYerest or estate created by this assignment with any other interest or
<br /> estate in the Property at any time held by or for Yhe benefit ofi Lender in any capacity,without the written consent
<br /> �. of Lender. �
<br /> � Irrterpretation. (1) In ali cases where there is more than one Borrower or Grantor,then all words used in this
<br /> Assignment in the s�ingular shall be deemed to have been used in the plural where the context and construction so
<br /> require. (2) If more thart one person signs this Assignmeni as"Grantor,"the o6ligations of each Grantor are joint
<br /> and several. This means that if Lender brings a lawsuit, Lender may sue any one or more of the Grantors. If
<br /> Borrower and Grantor are not the same person,Lender need not sue Borrower first,and that Borrower need not be
<br /> joined in any lawsuit. (3) The names given to paragraphs or sections in this Assignment are for convenience
<br /> purposes only.They are not to be used to interpret or define the provisions of this Assign�ment.
<br /> No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Assignment unless such
<br /> waiver is given in writing and signed by Lender. No delay or omission on tbe part of Lender in exercising any right
<br /> shall operaie as a waiver of such right or any other right. A waiver by Lender of a provision of this Assignment
<br /> shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that
<br /> provision or any other provision of this Assignment. No prior waiver by Lender,nor any course of dealing between
<br /> Lender and Grantor,shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any
<br /> future transactions. Whanever the consent of Lender is required unde�this Assignment, the granting of such
<br /> consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such
<br /> consent is required and in ail cases such conseni may be granted or withheld in the sole discretion of Lender.�
<br /> Notices. Any notice required to be given under this Assignment shall 6e given in writing,and shall be effective
<br /> when actually delivered, when actually reaeived by telefacsimile (unless otherwise required by IawL when .
<br /> deposited with a naYionally recognized overnight courier,or,if mailed,when deposited in the United States mail;as
<br /> first class,certified or registered mail postage prepaid,tlirected to the addresses shown near the beginning of this
<br /> AssignmenY. Any partV may change its address for notices under this Assignment by giving formal wtitten notice
<br /> to the other parties, specifying that the purpose of the notice is to change the party's address. For notice
<br /> purposes, Grantor agrees to keep Lender informed at all times of Grantor's eurrent address. Unless otherwise
<br /> provided or required by law, if there is more than one Grantor, any notice given by Lender to any Grantor i5
<br /> deemed to be notice given to all Grantors.
<br /> Powers of Attorney. The various agencies and powers of attorney conveyed on Lender under this Assignment are
<br /> granted for purposes of security and may not be revoked by Grantor until such time as the same are renounced by
<br /> Lender.
<br /> Seveeability. If a court of competent jurisdiction finds any provision of'this Assignment to 6e illegal, invalid, or
<br /> unenforceable as to any circumstance, that finding shall not make the offending provision illegal, invalid, or
<br /> unenforceable as to any other circumstance. If feasihle,ihe offend'ing provision shall be considered modified so
<br /> that it becomes legal, valid and enforceable. Ifi the offending provision cannot be so modified, it shall be
<br /> considered deleted from this Assignment. Unless otherwise required hy faw, the illegality, invalidity, or
<br /> unenforceability of any provision of this Assignment shall not affect the�legality, validity or enforceability of any
<br /> other provision of ihis Assignment.
<br /> Successors and Assigns. Subject to any limitations stated in this Assignment on transfer of Grarnor's interest,this
<br /> Assignment shall be binding upon and inure to the benefit of the parties, their successors and assigns. If
<br /> ownership of the Property becomes vested in a person other than Granior,Lender,without notice to Grantor,may
<br /> deal with Grantor's successors with reference to this Assignment and the Indebtedness by way of forbearance or
<br /> extension without releasing Grantior from the obligations of this Assignment or liability under the Indebtedness. �
<br /> Time is of the Essence. Time is of the�essence in the perfurmance of this AssignmenY.
<br /> . � Waive Jury. All parties to'this Assignment hereby waive'the right to any jury trial in any action,proceeding,or
<br /> couMerdaim brought by any party against any o4her party.
<br /> Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead
<br /> exemption laws of the State of Nebraska as to all Indebtedness secured by this Assignment.
<br />
|