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<br />WHEN RECORDED MAIL TO:
<br />First State Bank
<br />Scottsbluff Office
<br />P.O. Box 1267
<br />2002 Broadway � Q
<br />Scotksbluff NE 69363-1267 FOR RECORDER'S USE ONLY �/,
<br />l/
<br />ASSIGNMENT OF RENTS
<br />THIS ASSIGNMENT OF RENTS dated March 8, 2012, is made and executed between Amy S.
<br />Westphal and Mark A. Westphal, �fe and Husband, whose addrass is 222 East 37th Street,
<br />Scottsbluff, NE 69361-4606 (referred to below as "Grantor") and First State Bank, whose
<br />address is P.O. Box 1267, 2002 Broadway, Scottsbluff, NE 69363-1267 (referred to below as
<br />� LQ�IdBr� �.
<br />ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security
<br />interest in, and conveys to Lender all of Grantor's right, title, and interest in and to the Rents
<br />from the following described Property located in Hall County, State of Nebraska:
<br />Lot Twenty-two (22) EXCEPT the North Four (4) feet thereof, and the North Four (4) feet of
<br />Lot Twenty-one (21), All in Block Two (2) in Bel Air Addition to the City of Grand Island,
<br />Hall County, Nebraska.
<br />The Property or its address is commonly known as 1710 Idlewood Lane, Grand Island, NE
<br />68803-6157.
<br />CROSS-COLLATERALIZATION. In addition to the Note, this Assignment secures all obligations, debts and ifabilities,
<br />plus interest thereon, of Grantor to Lender, or any one or more of them, as well as all claims by Lender against Grantor
<br />or any one or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of
<br />the Note, whether voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined,
<br />absolute or contingent, liquidated or unliquidated, whether Grantor mey be Ilable individually or jointly with others,
<br />whether obligated as guarantor, surety, accommodation party or othervvise, and whether recovery upon such amounts
<br />may be or hereafter may become barred by any statute of Umitations, and whether the obligation to repay such amounts
<br />may be or hereafter may become otherwise unenforceable.
<br />FUTURE ADVANCES. In addition to the Note, this Assignment secures all future advances made by Lender to Grantor
<br />whether or not the advances are made pursuant to a commitment. Specifically, without limitation, this Assignment
<br />secures, in addition to the amounts specified in the Note, all future amounts Lender in its discretion may loan to
<br />Grantor, together with all interest thereon.
<br />THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY
<br />AND ALL OBLIGATIONS OF GRANTOR UNDER THE NOTE, THIS ASSIQNMENT, AND THE RELATED DOCUMENTS.
<br />THIS ASSIGNMENT IS aIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except es otherwise provided in this Assignment or any Related Documents, Grantor
<br />shall pay to Lender all amounts secured by this Assignment as they become due, and shall strictly perform all of
<br />Grantor's obligations under this Assignment. Unless and until Lender exercises its right to collect the Rents as provided
<br />below and so long as there is no default under this Assignment, Grantor may remain in possession and controf of and
<br />operate and manage the Property and collect the Rents, provided that the granting of the right to collect the Rents shall
<br />not constitute Lender's consent to the use of cash collateral in a bankruptcy proceeding.
<br />QRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants thet:
<br />Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans, liens, encumbrences, and
<br />claims except as disclosed to and accepted by Lender in writing.
<br />Rlght to Assign. Grantor has the full right, power and authority to enter into this Assignment and to assign and
<br />conveythe Rentsto Lender.
<br />No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to eny other person by any
<br />instrument now in force.
<br />No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights in the
<br />Rents except as provided in this Assignment.
<br />LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no
<br />default shall have occurred under this Assignment, to collect end receive the Rents. For this purpose, Lender is hereby
<br />given end granted the following rights, powers and authority:
<br />Notice to Tenants. Lender may send notices to any and all tenants of the Property advising them of this
<br />Assignment and directing all Rents to be paid directly to Lender or Lender's agent.
<br />Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and receive from
<br />the tenants or from any other persons lieble therefor, all of the Rents; institute and carry on all legal proceedings
<br />necessary for the protection of the Property, including such proceedings as may be necessary to recover
<br />Y � !t � .
<br />* .
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