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201210699
<br /> ASSIGNMENT OF RENTS
<br /> Loan No:81000934 (Continued) Page 4
<br /> Time is of the Essence. Time is of the essence in the performance of this Assignment.
<br /> Waive Jury. AII parties to ffiis 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 of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead
<br /> exemption laws of the State of Nebraska as to aIl Indetrtedness secured by this Assignment.
<br /> Waiver of Right of Redemption. NOTWITHSTANDING ANY OF THE PROVISIONS TO THE CONTRARY
<br /> CONTAWED IN THIS ASSIGNMENT,GRANTOR HEREBY WAIVES ANY AND ALL RIGHTS OF REDEMPT40N FROM
<br /> SALE UNDER ANY ORDER OR JUDGMENT OF FORECLOSURE ON GRANTOR'S BEHALF AND ON BEHALF OF
<br /> EACH AND EVERY PERSON,EXCEPT JUDGMENT CREDITORS OF GRANTOR,ACQUIRING ANY INTEREST W OR
<br /> TITLE TO THE PROPERTY SUBSEQUENT TO THE DATE OF 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 plural
<br /> shall indude the singular,as the context may require. Words antl terms not otherwise defined in this Assignment shall
<br /> have the meanings attributed to such terms in the Uniform Commercial Code:
<br /> Assignment. The word"Assignment"means Yhis ASSIGNMENT OF RENTS,as this ASSIGN�MENT OF RENTS may
<br /> be amended or modified from time to time,together witFi all exhibits and schedules attached to this ASSIGNMENT
<br /> OF RENTS from time to time.
<br /> Borrower. The word"Borrower"'means GI Cherry Park,LTD..
<br /> Defauh. The word"Default"means the Default set forth in this Assignment in the section titled"Default".
<br /> Event of Default. The words"Event of Default" 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 GI Cherry Park,LTD..
<br /> Guarantor. The word "Guarantor" means any guarantor, surety, or accommodation party of any or all of the
<br /> Indebtedness.
<br /> GuaranTy. The word "Guaranty" means the guaranty from Guarantor to Lender, including without limitation a
<br /> guaranty of all or part of the Note.
<br /> Indebtedness. The word "indebtedness" means alI principal, interesY, and other amounts, costs and expenses
<br /> payable under the Note or Related Documents, together with all re�ewals of, extensions of, modifications of,
<br /> consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by
<br /> Lender to discharge Grantor's o6ligations or expenses incarred by Lender to enforce Grantor's obligations under
<br /> this Assignment,together with interest on such amounts as provided in this Assignment. Specifically, without
<br /> limitation,Indebtedness includes the future advances set forth in the Future Advances provision,together with all
<br /> interest thereon and all amounts that may be indirectly secured by the Cross-Collateralization provision of this
<br /> Assignment.
<br /> Lendec. The word"Lender"means Equitable Bank,its successors and assigns.
<br /> Note. The word "Note" means the promissory note dated December 7, 2012, Ifl th2 original principal
<br /> amOUnt Of $1,100,000.00 from Grantor to Lender, togefher with all renewals of, extensions of,
<br /> modifications of,refinancings of,consolidations of,and substitutions for the promissory note or agreement.
<br /> Property. The word "Property" means all of Grantor's right, title and intetest in and to all the Property as
<br /> described in the"Assignment"section of this Assignment. �
<br /> Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, Ioan
<br /> agreements�, environmental agreements, guaranties, security agreements, mortgages, deeds of trust, security
<br /> deeds, collateral mortgages, and afl other instruments, agreements and dacuments, wheYher now or hereafter
<br /> existing,executed in connection with the Indebtedness.
<br /> Rents. The word"Rents'°means all of Grantor's preseni and future rights,title and interest in,to and under any
<br /> and all present and future leases, including, withou[ limitation, all rents, revenue, income, issues, royalties,
<br /> bonuses,accounts receivable,cash or security deposits,advance rentals,profits and proceeds from the Property,
<br /> and oiher payments and benefits derivetl or to be derived from such leases of every kind and nature,whether due
<br /> now or later,including without limitation Grantor's right to enforce such leases and to receive and collect payment
<br /> and proceeds thereunder.
<br /> THE UNDERSIGNED ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS ASSIGNMENT, AND NOT
<br /> PERSONALLY BUT AS AN AUTHORIZED SIGNER,HAS CAUSED THIS ASSIGNMENT TO BE SIGNED AND EXECUTED
<br /> ON BEHALF OF GRANTOR ON DECEMBER 7,2012.
<br /> GRANTOR:
<br /> GI CHERRY PARK,LTD.
<br /> GILI,LL.C.,General Partner of GI Cherry Park,LTD.
<br /> BY: �i�l.<i���/f.�-���
<br /> Ward F Hoppe,Managgr'of Gi'I.LI,L.L.C.
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