|
201301355
<br /> ASSIGNMENT OF RENTS
<br /> (Continued) Page 5
<br /> when actually delivered, when actually received by telefacsimlle (unless otherwise required by law), when
<br /> deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as
<br /> first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this
<br /> Assignment. Any party may change its address for notices under this Assignment by giving formal written notice
<br /> to the other parties, specifying that the purpose of the notice is to change the party's address. For notice
<br /> purposes, Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise
<br /> provided or required by law, if there is more than one Grantor, any notice given by Lender to any Grantor is
<br /> deemed to be notice given to all Grantors.
<br /> Powers of Attorney. The various agencies and powers of attorney conveyed on Lender under this Assignment are
<br /> granted for purposes of security and may not be revoked by Grantor until such time as the same are renounced by
<br /> Lender.
<br /> Severability. If a court of competent jurisdiction finds any provision of this Assignment to be illegal, Invalid, or
<br /> unenforceable as to any circumstance, that finding shall not make the offending provision illegal, invalid, or
<br /> unenforceable as to any other circumstance. If feasible, the offending provision shall be considered modified so
<br /> that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shall be
<br /> considered deleted from this Assignment. Unless otherwise required by law, the illegality, invalidity, or
<br /> unenforceability of any provision of this Assignment shall not affect the legality, validity or enforceability of any
<br /> other provision of this Assignment.
<br /> Successors and Assigns. Subject to any limitations stated In this Assignment on transfer of Grantor's interest, this
<br /> Assignment shall 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 Grantor, Lender, without notice to Grantor, may
<br /> deal with Grantor's successors with reference to this Assignment and the Indebtedness by way of forbearance or
<br /> extension without releasing Grantor from the obligations of this Assignment or liability under the Indebtedness.
<br /> Time is of the Essence. Time is of the essence in the performance of 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 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 all Indebtedness 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 plural
<br /> shall include the singular, as the context may require. Words and 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 this ASSIGNMENT OF RENTS, as this ASSIGNMENT OF RENTS may
<br /> be amended or modified from time to time, together with all exhibits and schedules attached to this ASSIGNMENT
<br /> OF RENTS from time to time.
<br /> Borrower. The word "Borrower" means Eby Realty Group, L.L.C..
<br /> Default. 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 Grand Island Bickford Cottage, L.L.C..
<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 all principal, interest, and other amounts, costs and expenses
<br /> payable under the Note or Related Documents, together with all renewals 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 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. Specifically, without
<br /> limitation, Indebtedness includes all amounts that may be indirectly secured by the Cross-Coilateralizatlon provision
<br /> of this Assignment.
<br /> Lender. The word "Lender" means CrossFirst Bank, its successors and assigns.
<br /> Note. The word "Note" means the promissory note dated January 18, 2013, In the original principal amount of
<br /> $4,500,000.00 from Borrower to Lender, together with all renewals of, extensions of, modifications of
<br /> refinancings of consolidations of, and substitutions for the promissory note or agremeent.
<br /> Property. The word "Property" means all of Grantor's right, title and interest in and to all the Property as
<br /> described in the"Assignment" section of this Assignment.
<br />
|