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201207759 ASSIGNMENT OF F€ENTS Loan No_ 81001065 (Co�Stinu�d) Page 4 shall not prejudice or constitute a waiver of Lender's right otherwise to tlemand strict compliance with that provision or any oiher provision of this Assignment. No prior waiver by Lender, nor any course of dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any fiuture transactions. Whenever the consent of Lender is required under tnis Assignment, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent �instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. Notices. Any notice required to be given under this AssignmenY shall be given i�n writing, and shatl be efifective when actually delivered, when actually received by telefacsimile (unless otherwise required by IawD, wnen deposited with a nationafly recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to the add�esses shown near the beginning of this Assignrnent. Any party may change its address fior notices under this Assignment by giving formal written notice to the other parti�es, specifying that the purpose of the notice is to change the party's address. For notice purposes, Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise provided or required by law, if there is more than one Grantor, any notice given by Lender rto any Grantor is deemed to be notice given to all Grantors. Powers of AtYorney. The various agencies and powers of attorney conveyed on Lender under this Assign.ment are granted for purposes ofi security and may not be revoked by Grantor until such time as the same are renounced by Lender. Severability. If a court of competent jurisdiction finds any provision of this Assignment to be illegai, dnval.id, or unenforceable as to any person or circumstance, Yhat finding shall not maka the offending provision illegal., invalid, o� unenfiorceabie as to any other person or circumstance. if fieasible, the offending provision shaFl be considered modified so that it becomes legal, vafid and enforceable. If the offending provision cannot be so modi:fied, it shall be considered deieted from this Assig�nme:nt. Unless othe�wise required by law, the illegality, invalidity, or unenforceability of any provision of this Assignment shap not afiFect the legality, validity or enfio�rceability of any other provision of this Assignment. Successors and Assegns. Subject to any limitations stated in tnis Assignment on transfer of Gra�tor`s interest,this Assignment shall be b:inding upon and inure to the benefit ofi the parties, their successors and assigns�. If ownership of the Property becomes vested in a person other than Grantor, Lender, without notice to Grantor, may deal with Grantor`s successors with reference to this Assignment and the Indebtedness by way of forbearance or extensio�n without releasing Gran�tor from the o�bligations of this Assignment or li�ability under the Indebtedness. Time is of the Essence. Time is of tne essence in the performance of this Assignment. Waive Jury. All parties to this Assignment hereby waive the right to any jury triat in any action, p�oceedireg, or counterclaim brought by any party againsY any other party_ Waiver of Homestead F�cemption. Grantor hereby releases anci waives all rights and benefits of the homestead exemption laws of the State of Nebras�ka as to all Indebtedness secured by this Assignment. DEFINITIOl�[S. The follow�ing capitalized words and terms shall have the following meanings when used in ihis Assignment. Unless specifically stated to the contrary, all references to dollar amounts shal:l mean amounts in lawful money of the United States of America. Words and terms used in the singulat shall include the plural, and tne plural shall include the singular, as the context may requite. Words and terms noY otherwise defiined in this Assignment shall have the meanings attributed to such terms i:n the Uniform Commercial Code: Assignment. The word "Assignment" means this ASSIGNMENT OF RENTS, as thi�s ASSIGNMENT OF RENTS may be amended or modified from time to time, together with all exhibits and schedules attached to this ASSIGNM�ENT OF RENTS from time to time. Borrower. The word "Borrower" means MARK ZECHMANN. Default_ Tf�e word "Default" means the Defia.ult set forth i�n this Assignment in the section titled "Default". Event of Defautt. The words "Event of Default" mean any of the events of defauit set forth in this Assignment in the default section of this Assignment. Grantor_ The word "GranYor" means MARK ZECHMANN and SANDRA K ZECHMANN. Guaranty. Tne word "Guaranty" means the guaranty from guaranTor, endorser, surety, or accommodation party to Lender, induding without fimitation a guaranty of all or part of the Note. Indebtedness. The word "Indebtedness�" means all principal, interest, and other amounts, costs and expenses payable under the Note or Related Documents; together with all renewals of, e�ctensions of,. mod:ifications of, consolidations of and substitutions for the Note or Related Docu�ments and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses irrcurred by Lender to enforce GrantoPs obligations under this Assignment, tagether with interest on such amounts as provided in this Assignment. Speci�ically, without limitatoon, Indebtedness indutles the future advances set forth in the Future Advances provision, together with all interest thereon and aIl amounts that may be indirectPy secured by the Cross-Collateralization provision ofi this Assignmen�[. Lender. The word "Lender" means Equitable Banlc, its successors and assigns. iVote_ The word "Note" means the promissory note dated September 17, 2012, in tl'ie o�Yiginal p�YlnCl�pal amount of S50,000.00 from Borrower to Lender, mgether with all renewals of, extensions of, modifications of, refiinancings of,consol.idations of,and substitutions fior the promissory note or agreement. Property. The word "Property" means all of Grantor's right, title and interest in and to all the Property as descri�bed in the "Assignment"section of this AssignmenU Reiated Documents. The words "Related Docu.ments" mean all promissory notes, credit agreements, loan agreemenis, environmental agreements, guaranties, security agreements,�mortgages, deeds of trust, security deeds, collateral mortgages, and all otne� instruments, agreements and documents, whether now or hereafYer existing, executed in connection witn the Indebtedness. Rents. The word "Rents" means all of Grantor's present and future rights, title and inYeresi in, to and under any and all present and future leases, induding, without limitation, all rents, revenue, income, issues, royalties, bonuses, accounts receivable, cash or security deposits, advance rentafs, profits and proceeds from the Property, and other payments and benefits derived or to be derived from such leases of every kind and nature, whether due now or later,including without limitation Grantor's right to enforce such leases and to receive and collect payment arid�proceeds thereund�e�.