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201208344
<br /> ASSIGIil6\/IEI�IT OF REIiiTS
<br /> Loan No: 81001387 (COntinUed) Pa e 4
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<br /> � unenforceable as to any circumstance, that flnding shall n�t rnalce the offending provision illegal, invalid, or
<br /> unenforceable as io any otner circumstance. If feasible, the offending provision shall be considered modified so
<br /> that it becomes legal, valid and enforceable. if the offending provision cannoi be so modified, it shall be
<br /> considered deleted firom this Assignment. Unless otherwise required by law, the illegality, invalidity, or
<br /> unenfiorceability of any provision of this Assignment shall not affect tne legality, validity or enforceability of any
<br /> other provision of this Assignment.
<br /> Successors and Assigns_ Subject to any li:mitations stated in this Assignment on transfer of Grantor's interest, this
<br /> Assignment shsll 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 Gran�tor, Lender, without notice to Grantor, may
<br /> deal with Grantor's successors with reference to this Assignment and the Indebtedness by way of torbearance or
<br /> extension without releasing Grantor from the obligations of this Assignment or(iability under the Indebtedness.
<br /> Time is of the Essence_ Time is of the essence in the perfarmance ofi this Assignment.
<br /> Waive Jury_ All parties to this Assignment hereby waive the right to any jury trial in any action. proceeding, or
<br /> counterclaim brought by any party against any other party. .
<br /> Waiver ofi Homestead Exemption_ Grantor hereby releases and waives all rights and benefits of the homestead
<br /> exempiion laws of the State of Nebraska as to all Inde6tedness secured by thiS Assignment.
<br /> DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this
<br /> Assignment. Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful
<br /> money of the United States of America. Words and terms used in the singular shall include the plural, and the pluraf
<br /> shall include�the singular, as the context may require. Words and terms not othe�rwise defined in this Assignment shall
<br /> have the meanings attributed to such terms in the Uniform Commercial Code:
<br /> Assignment. The wora "Assignment" means this ASSfGNMENT OF RENTS, as this ASSiGfVMENT OF RENTS may
<br /> be amended or modified from time to time, together wiih all exhibits and schedules attached to this ASSIGNMENT
<br /> OF RENTS from iime to time. �
<br /> Borrower. The word "Borrower" means RHOADS ENTERPRISES INC.
<br /> Default. The word "Detault" means the Default set fo-rth in this Assignment in the section titled "Default".
<br /> Event of Default. The words "Event of Defiault" mean any of the events of default set forth in this Assignment in
<br /> the default section of this Assignment�.
<br /> Grantor. The word "Grantor" means RHOADS ENTERPRISES WC.
<br /> Guarantor. The word "Guarantor" means any guarantor, surety, or accommodation party of any or all of the
<br /> Indebtedness.
<br /> Grraranty. The word "Guaranty" means the guaranty from Guarantor to Lender, incfuding without limitati�on a
<br /> guaraniy of all or part of the Note.
<br /> - 9nde6tedness. Th�e word "Indebtedness°' means all p�incipaf, fnterest, and other amounts, costs and expenses
<br /> payabL.e under the Note or Related Documents, together with a❑ renewals of, extensions of, modifications af,
<br /> consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by
<br /> Lender io discharge Granior'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. Specifiically, without
<br /> limitation, Indebtedness includes the future advances set forth in tne Futute Advances provision, together with all
<br /> interest thereon and all amounts that may be indirectly se.cured by the Cross-Collateralization provisio:n of this
<br /> Assignment.
<br /> Lender, The word "Lender" means Equitable Banlc, its successors and assigns.
<br /> Note_ The word "Note" means the promissory note dated October 5, 2012, 117 the original �principal amoUrlt
<br /> Of $7 52,500.00 from Grantor Yo Lencier, together with alI renewals of, eMensions of, modifications of,
<br /> refii.nancings of, co�nsolidations ot, and substitutions fo�the prornissory note or agreement.
<br /> Property_ The wo�rd "Property" means all of Grantor's righi, title and inteeest in and to a11 She Progerty as
<br /> described in Yhe "Assignment" se�ction o�F this Assignment.
<br /> Related Documents. The words "Related Docu�ments" mean all promissory notes, credit agreements, loan
<br /> agreements, environmental agreements, guaranties, security agreements; mortgages, deeds of trusY, securi[y �
<br /> deeds, colfaterai 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 i�nterest in, to and under any
<br /> and alI present and futu�e leases, includinc�, without limitatiort, all rents, revenue, income, issues, royalties,
<br /> bonuses, accounts receivable, cash or security deposits, advance rentals, profi2s and proceeds from the Property,
<br /> and other payments and benefits derived or to be derived from such leases of every kind and nature, whe'ther due
<br /> . now or later, inciud�ing without limi2ation Grantor's right�o enforce such leases and to receive and collect payment
<br /> and proceeds thereunder_
<br /> TtiE lJNDERSIGIVED ACKNOWLEDGES !-IAIfING FtEAD ALL THE PFtOVIS10�1�iS OF TF-lIS laSSBGNMENT, AND NOT
<br /> PERSONALLY BU'd'AS AfU AUTHOF2IZED SIGNER, HAS CAtSSED 7HIS ASSIGNM�.EIVT TO B� SIGNED AND EXECiJTED
<br /> ON BEHALF OF GRANTOR ON OCTOBER 5, 20'12.
<br /> GRANTOR_
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<br /> FiHOADS ENTERPRISES INC
<br /> By-
<br /> SFFtJA R RHO. , Presr � ecretary of RHOADS ENTERPRISES
<br /> 1[�!C
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