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<br />C. Assignor is desirous of further securing to Assignee the performance of the terms,
<br />covenants and agreements hereof and of the Note, the Mortgages and the Loan Documents.
<br />AGREEMENT5
<br />NOW, TI�REFORE, in consideration of the making of the Loan evidenced by the Note
<br />by Assignee to Assignor and for other good and valuable consideration, the receipt and
<br />sufficiency of which are hereby acknowledged, Assignor does hereby irrevocably, absolutely and
<br />unconditionally transfer, sell, assign, pledge and convey to Assignee, its successors and assigns,
<br />all of the right, title and interest of Assignor in and to:
<br />(a) any and all leases, licenses, rental agreements and occupancy agreements of
<br />whatever form now or hereafter affecting all or any part of the Grand Island Project and any and
<br />all guarantees, extensions, renewals, replacements and modifications thereof (collectively, the
<br />"Leases"); and
<br />(b) all issues, profits, security or other deposits, revenues, royalties, accounts, rights,
<br />benefits and income of every nature of and from the Grand Island Project, including, without
<br />limitation, minimum rents, additional rents, termination payments, bankruptcy claims, forfeited
<br />security deposits, damages following default and all proceeds payable under any policy of
<br />insurance covering loss of rents resulting from untenanta.bility due to destruction or damage to
<br />the Grand Island Project, together with the immediate and continuing right to collect and receive
<br />the same, whether now due or hereafter becoming due, and together with all rights and claims of
<br />any kind that Assignor may have against any Tenant, lessee or licensee under the Leases or
<br />against any other occupant of the Grand Island Project (collectively, the "Rents").
<br />TO HAVE AND TO HOLD the same unto Assignee, its successors and assigns.
<br />This assignment is made pursuant to Neb. Rev. Stat. §52-1701, et. seq., and the
<br />obligations secured hereby and any future advances and protective advances are secured by
<br />present, future and after-arising or acquired Leases and Rents.
<br />IT IS AGREED that, notwithstanding that this instrument is a present, absolute and
<br />executed assignment of the Rents and of the Leases and a present, absolute and executed grant of
<br />the powers herein granted to Assignee, Assignor is hereby permitted, at the sufferance of
<br />Assignee and at its discretion, and is hereby granted a license by Assignee, to retain possession
<br />of the Leases and to collect and retain the Rents unless and until there shall be an"Event of
<br />Default" (as defined herein) that has occurred and is continuing under the terms of this
<br />Assignment or any of the other Loan Documents. Upon the occurrence and continuation of an
<br />Event of Default, the aforementioned license granted to Assignor shall automatically terminate
<br />without notice to Assignor, and Assignee may thereafter, without taking possession of the Grand
<br />Island Project, take possession of the Leases and collect the Rents. Further, from and after such
<br />termination, Assignor shall be the agent of Assignee in collection of the Rents, and any Rents so
<br />collected by Assignor or a designee of Assignor shall be held in trust by Assignor for the sole
<br />and exclusive benefit of Assignee and Assignor shall, within ten (10) business days after receipt
<br />of any Rents, pay the same to Assignee to be applied by Assignee as hereinafter set forth.
<br />Furthermore, from and after such Event of Default and termination of the aforementioned
<br />ASSIGNMENT OF LEASES AND RENTS Page 2
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