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<br /> WHEN RECORDED MAIL TO:
<br /> Equitable Bank
<br /> Diers Avenue Branch
<br /> PO Box 160
<br /> Grand Island.NE 68802-0760 FOR RECORDER'S USE ONLY
<br /> ASSIGNMENT OF REIVTS
<br /> THIS ASSIGNMENT OF RENTS dated December 7, 2072, is made and executed 6etween G!.
<br /> Cherry Park, LTD., whose address is 5631 South 48th 5t, Suite 220, Lincoln, NE 68516; a
<br /> Nebraska Limited Partnership (referred to below as "Grantor") and Equifable Bank, whose
<br /> address is PO Box 160, Grand Island,NE 68802-0160{referred to below as "Lender").
<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 1, Bbck 7, Gili Subdivision of the City of Grand Island,Hall County, Nebraska
<br /> The Property or its address is commonly known as 475 Cherry Street, Grand Island, NE
<br /> 68801. The Property tax identification number is 400460572_
<br /> CROSS-COLLATERALIZATION. In addition to the Note�this Assignmeni secures all o6ligations, debts and lia6ilities,
<br /> plus interest thereon,of Grantor to Lender,or any one or more of them,as well as all claims 6y Lender against Granmr
<br /> or any one or more of ihem,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, tletermined or undetermined,
<br /> absolute or contingent, liquidated or unfiquidated, whether Grantor may be liable individually or jointly with others,
<br /> whether obligated as guarantor,surety,accommodation party or otherwise,and whether recovery upon such amounts
<br /> may be or hereafter may become barred by any statute of limitations,and whether the obligation to repay such amounts
<br /> may be or hereafter may become otherwise une�forceable.
<br /> FUTURE ADVANCES. In addition to the Note,this Assig�ment secures all future advances made by Lender to G�anto�
<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 /> Grerrtor,together with all interest thereon.
<br /> THIS ASSIGNMENT IS GNEN TO SECURE (1)PAYMENT OF THE INDEBTEDNESS AND (21 PERFORMANCE OF ANY
<br /> AiVD ALL OBLIGATIONS OF GRANTOR UNDER THE NOTE,THIS ASSIGNMENT, AND THE RELATED DOCUMENTS.
<br /> THIS ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br /> PAYMENT AND PERFORMANCE. Except as 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 Iong as there ts no default under this Assignment,Grantor may remain in possession and control 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 /> GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrarrts that:
<br /> Ownership. Grantor is entiiled to receive the Rents free and dear of all rights, loans, liens,encumbrances, and
<br /> claims except as disclosed to and accepted by Lender in writing.
<br /> Right to Assign. Granmr has the full right,power and authority to enter inm this Assignment and to assign and
<br /> convey the Rentsto Lender. . -
<br /> No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any
<br /> instrument now in force.
<br /> No Further Trensfer. 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 occuPred under this AssignmeM,to collact and receive the Rents. For this purpose,Lender is hereby
<br /> given and granted the following rights,powers and authority:
<br /> Notice to Tenarrts. Lender may send notices to any and alI 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 2enants or from any other persons Iia61e 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 /> possession of the Property;collect the Rents and remove any tenant or tenants or other persons from the Property.
<br /> MaiMain the Property. Lender may enter upon the Property to maintain the Property and keep the same in repair;
<br /> to pay the costs thereof and of all services of all employees,including their equipment,and of all continuing costs
<br /> and expenses of maintaining the Property in proper repair and condition,and also to pay all taxes,assessments and
<br />
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