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ASSIGNMENT OF RENTS•�J � � � V � � � �
<br />Loan No: 1012�1582 � ' (Continued) Page 5
<br />Successors and Assigns. SubJect to any limitations steted in this Assignment on transfer of Grantor's interest, this
<br />Assignment shell be binding upon end inure to the benefit of the parties, their succesaors and esaigns. If
<br />ownership of the Property becomea vested in a person other than Grantor, Lender, without notice to Grentor, mey
<br />deal with Grantor's successors with reference to this Assignment end the Indebtedness by way of forbearance or
<br />e�ctension without releasing Grentor from the obligetiona of this Assignment or Uability under the Indebtedness.
<br />Time is of the Essence. Time is of the essence in the performence of this Assignment.
<br />Waiver of Homestead Exemptlon. Grentor hereby releeses end waives ell rights and benefits of the homestead
<br />exemption laws of the State of Nebraske as to all Indebtedness secured by this Assignment.
<br />DEFINRIONS. The following capitalized worda end terms shall have the following meanings when used in this
<br />Assignment. Unless specifically steted to the contrary, all references to dollar emounts shell mean amounta in lawful
<br />money of the United States of Americe. Words end terms used in the singular shell include the plurel, and the plural
<br />shell include the singular, as the context may require. Words end terms not otherwise defined in this Assignment shall
<br />heve the meanings attributed to such terms in the Uniform Commercial Code:
<br />AssignmeM. The word "Assignment" means thia ASSIGNMENT OF RENTS, as this ASSIGNMENT OF RENTS mey
<br />be amended or modifled from time to time, together with all exhibits and schedules attached to this ASSIGNMENT
<br />OF RENTS from time to time.
<br />Borrower. The word "Borrower" means MITCHELL T NICKERSON and SUSARt E
<br />Defauk. The word "Default" means the Default aet forth in this Assignment in the section titled "Default".
<br />Event of Default. The words "Event of Defeult" mean eny of the events of default set forth in this Assignment in
<br />the default section of this Assignment.
<br />Grantor. The word "Grentor" means MITCHELL T NICKERSON end SUSAN E NICKERSON,
<br />Quarenty. The word "Gueranty" meens the guaranty from guarantor, endorser, surety, or accommodetion perty to
<br />Lender, including without limitation e guarenty of ell or pert of the Note.
<br />Indebtedness. The word "Indebtedness" means all principel, interest, end other amounts, costs end expenses
<br />payable under the Note or Releted Documents, together with all renewals of, extensions of, modiflcations of,
<br />consolidations of and aubstitutions for the Note or Related Documents and eny amounts expended or advanced by
<br />Lender to discharge Grantor's obligations or expenses incurred by Lender to enforce Grantor's obligations under
<br />this Assignment, together with interest on such amounts as provided in this Assignment. Speciflcelly, without
<br />limitation, Indebtedness includes the future advences set forth in the Future Advances provision of this
<br />Assignment, together with ell interest thereon.
<br />Lender. The word "Lender" means Five Points Bank, its successors end assigns.
<br />Note. The word °Note" means the promissory note dated April 27, 2012 in the original principal amount
<br />of $ from Grantor to Lender, together wlth all renewels of, extensions of,
<br />modiflcatlons of, refinancings of, consofldations of, and substitutions for the promissory note or agreement.
<br />Property. The word "Property° meens all of Grantor's right, title and interest in and to ell the Properry ea
<br />described in the "Assignment" section of this Assignment.
<br />Related Documents. The words "Releted Documents" mean all promissory notes, credit agreements, loan
<br />agreements, environmental agreements, guaranties, security agreements, mortgeges, deeds of trust, security
<br />deeds, callateral mortgages, and all other instruments, agreements and documents, whether now or hereafter
<br />existing, executed in connection with the Indebtedness.
<br />Rents. The word "Rents" means all of Grantor's present and future rights, title and intereat in, to and under any
<br />and all preaent and future leases, including, without limitation, all rents, revenue, income, isaues, royalties,
<br />bonuses, accounts receivable, cesh or security deposits, advance rentals, profits and proceeds from the Property,
<br />and other payments and benefits derived or to be derived from such leases of every kind end nature, whether due
<br />now or later, including without limitetion Grantor's right to enforce such leases and to receive and collect payment
<br />and proceedsthereunder.
<br />THE UNDERSIGNED ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS ASSIONMENT. THIS
<br />DOCUMENT IS EXECUTED ON APRIL 27, 2012.
<br />GRANTOR:
<br />7C'_< r ri�� .E. �c'r�G�� ___� ^
<br />: . . . . .::. . .r . � : i: ... .. . '' .�r''�` .
<br />MITCHELL T NICKERSO
<br />X �: r.. . .. ��., �� :�. .. . ..:� . . .� .:� .. ... .... ........ ��.... � :�
<br />SUSAN E NICKERSO
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