|
N 00
<br /> mn' o cD
<br /> 1 0 71 W Zm IV m
<br /> co
<br /> —0 O Z OTZ ai
<br /> Z D-n
<br /> rn O0 A DW O UZi
<br /> m�rn r� D r> 0 c
<br /> wo
<br /> o
<br /> ca
<br /> om° w
<br /> cn
<br /> � z
<br /> 0
<br /> WHEN RECORDED MAIL TO:
<br /> Equitable Bank
<br /> North Locust Branch
<br /> 113-115 N Locust St
<br /> PO Box 160
<br /> Grand Island,NE 68802-0160 FOR RECORDER'S USE ONLY
<br /> ASSIGNMENT OF RENTS
<br /> THIS ASSIGNMENT OF RENTS dated January 23, 2013, is made and executed between LBE
<br /> FAMILY LIMITED PARTNERSHIP, whose address is 716 W 2ND ST, GRAND ISLAND, NE
<br /> 68801; A NEBRASKA PARTNERSHIP (referred to below as "Grantor") and Equitable Bank,
<br /> whose address is 113-115 N Locust St, PO Box 160, Grand Island, NE 68802-0160 (referred
<br /> 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 /> See EXHIBIT"A",which is attached to this Assignment and made a part of this Assignment
<br /> as if fully set forth herein.
<br /> The Property or its address is commonly known as 927 CLAUSSEN, 1918 W CHARLES ST,
<br /> 2205-2207 RIVERSIDE DR, 716 W 15TH ST, 2215-2219 W 15TH ST, 2104-2108 W 17TH
<br /> ST, 2624 LAMAR AVE, 531 KENNEDY DR, 2416-2418 N KRUSE AVE, 1111-1115 W 10TH
<br /> ST, 2221-2225 W COTTAGE ST, 805-811 W 12TH ST, GRAND ISLAND, NE 68801. The
<br /> Property tax identification number is 400031744, 400108224, 400046253, 400090694,
<br /> 400043424, 400115646, 400111233, 400141582, 400033585, 400129566, 400033917,
<br /> 400123452.
<br /> CROSS-COLLATERALIZATION. In addition to the Note, this Assignment secures all obligations, debts and liabilities,
<br /> plus interest thereon, of either Grantor or Borrower to Lender, or any one or more of them, as well as all claims by
<br /> Lender against Borrower and Grantor or any one or more of them, whether now existing or hereafter arising,whether
<br /> related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or
<br /> indirect,determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Borrower or Grantor
<br /> may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or
<br /> otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of
<br /> limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise
<br /> unenforceable. If the Lender is required to give notice of the right to cancel under Truth in Lending in connection with
<br /> any additional loans,extensions of credit and other liabilities or obligations of Grantor to Lender,then this Assignment
<br /> shall not secure additional loans or obligations unless and until such notice is given.
<br /> FUTURE ADVANCES. In addition to the Note,this Assignment secures all future advances made by Lender to Borrower
<br /> or Grantor whether or not the advances are made pursuant to a commitment. Specifically, without limitation, this
<br /> Assignment secures,in addition to the amounts specified in the Note, all future amounts Lender in its discretion may
<br /> loan to Borrower or Grantor,together with all interest thereon.
<br /> THIS ASSIGNMENT IS GIVEN TO SECURE (1)PAYMENT OF THE INDEBTEDNESS AND (2)PERFORMANCE OF ANY
<br /> AND ALL OBLIGATIONS OF BORROWER AND GRANTOR UNDER THE NOTE,THIS ASSIGNMENT,AND THE RELATED
<br /> DOCUMENTS. THIS ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br /> GRANTOR'S WAIVERS. Grantor waives all rights or defenses arising by reason'of any"one action"or"anti-deficiency"
<br /> law, or any other law which may prevent Lender from bringing any action against Grantor, including a claim for
<br /> deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after Lender's commencement
<br /> or completion of any foreclosure action.either judicially or by exercise of a power of sale.
<br /> BORROWER'S WAIVERS AND RESPONSIBILITIES, Lender need not tell Borrower about any action or inaction Lender
<br /> takes in connection with this Assignment. Borrower assumes the responsibility for being and keeping informed about
<br /> the Property. Borrower waives any defenses that may arise because of any action or inaction of Lender, including
<br /> without limitation any failure of Lender to realize upon the Property, or any delay by Lender in realizing upon the
<br /> Property. Borrower agrees to remain liable under the Note with Lender no matter what action Lender takes or fails to
<br /> take under this Assignment.
<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 lona 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 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 warrants that:
<br />
|