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<br /> WHEN RECORDED MAIL TO:
<br /> Equitable Bank
<br /> North Locust Branch
<br /> 1'13-115 N Locust SY
<br /> PO Box 160
<br /> Grand Island,IVE 68802-0160 FOR RECORDER`S USE ONLY
<br /> ASSIGNMENT OF RENTS
<br /> ThfIS ASSIGNMENT OF REiVTS dated December 94, 2012, is made and executed between
<br /> WING PROPERTiES, iNC., whose address is 120 E 3RD ST, GRAlVD ISLAND, NE 68801; A
<br /> NEBRASKA CORPORATIQN (referred fo below as "�rantor") and Equstable Bank, whose
<br /> address is 113-195 N Locust St, PO Box 160, Grand Island, NE 68802-0'960 (referred to
<br /> below as"Lender").
<br /> ASSIGNMENT. For valuable consideration,Grantor hereby assig�s, grants a continuing s2curity
<br /> interest in, and conveys to Lender all of Grantor's right, title, and interest in and to fihe Rents
<br /> from the following described Property located in HALL County,State of Nebraska:
<br /> THE EASY TWENTY TWO (22) FEET OF THE WEST FORTY FOUR (44) FEET OF THE
<br /> NOFiTH EIt's9iTY EIGHT (88) FEET OF LOT FOl9Fi (4), BLOCK SIXTY 51X (66), IfV TI-VE
<br /> ORIGINAL TOWN, NOW CITY OF GRAND iSLAND, HALL COUNTY, NEBRASKA
<br /> The Property or its address is commonly known as 121 W 3RD ST, GRAND ISLAIVD, iVE
<br /> 68807. The Property tax identification namber is 400005662.
<br /> CROSS-COLLATERALIZATION. In addition to the Note,this Assignment secures all obligations, de6ts and liabilities,
<br /> plus interest thereon,of Grantor to Lender,or any one or more of them,as well as all claims by Lender against Grantor
<br /> or any one ar more of them,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, determined or undetermined,
<br /> absolute or contingent, liquidated or unliquidatetl, whether Grantor rriay be fiable individually or jointiy 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 unenforcea6le.
<br /> FUTURE ADVANCES. In addition to the Note,this Assignment secures all future advances made by Lender to Grantor
<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 /> Grantor,together with all interest thereon.
<br /> THiS ASSIGNMENT IS GIVEN TO SECURE (1)PAYMENT OF THE INDEBTEDNESS AND (2)PERFORMANCE OP ARY
<br /> AND ALL OBLIGATIONS OF GRANTOR UNDER THE NOTE,THIS ASSIGNMENT, AND THE RELATED DOCUMENTS.
<br /> THIS ASSIGNMENT IS GIVEN AND ACCEPTED OIV 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 shail strictty 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 long as there is 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 Yhe right to collect the Rents shall
<br /> not constitute Lender's consentfo the use of cash collateralin a 6ankruptcy proceeding.
<br /> GRAfVTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that:
<br /> Ownership. Grantor is entitled to receive the Rents free and clear bf all rights,loans, liens, encumbrances, and
<br /> claims except as disclosed to and accepted by Lender in evriting.
<br /> Right to Assign. Grantor has the full right,power and authority to enter into this Assignment and to assign and
<br /> convey the Rents to Lender.
<br /> No Prior Assignment. Grantor has not previously assigned or conveyed zhe Rents to any other person by any
<br /> instrument now in force.
<br /> No Further Transfer. Grantor will noi sell,assign,encumber,or otherwise dispose of any of Grantor`s righis in the
<br /> Rents excepY as provided in this Assignmerrt.
<br /> LENDER'S RIGHT TO RECE[VE AND COLLECT RENTS. Lender shall have the right at any time, and even though no
<br /> default shall have occurred under this Assignrnent,to collect and receive the Rents. For this purpose,Lender is hereby
<br /> given and granted the following rights,powers and authority:
<br /> Notice to Tenants. Lentler may send notices to any and all 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 Yhe Property. Lender may enter upon and take possession of the Property;demand,collect and receive from
<br /> the tenants or from any other persons liable therefor, all of the Rents; institute a�d carry on all legal proceedings
<br /> necessary for the protection ofi the Properry, inefuding such proceedings as may be necessary to recover
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