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<br />WHEN RECORDED MAIL TO:
<br />Platte Valley State Bank & Trust Company
<br />V - V 2223 2nd Ave
<br />V Kearney, NE 68848
<br />FOR RECORDER'S USE ONLY
<br />ASSIGNMENT OF RENTS
<br />THIS ASSIGNMENT OF RENTS dated October 22, 2013, is made and executed between JBWS
<br />Property Group, L.L.C., whose address is 1007 W 2nd Avenue, Grand Island, NE 68801 -5821;
<br />a Nebraska Limited Liability Company (referred to below as "Grantor ") and Platte Valley State
<br />Bank & Trust Company, whose address is 2223 2nd Ave, Kearney, NE 68848 (referred to
<br />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 />A tract of land located in Fractional Lot One (1), in Fractional Block One Hundred Twenty
<br />(120), in Railroad Addition to the City of Grand Island, Hall County, Nebraska and its
<br />complement, to -wit: Fractional Lot One (1), in Fractional Block Twenty (20), in Arnold and
<br />Abbott's Addition to the City of Grand Island, Hall County, Nebraska described as follows:
<br />Beginning at the Southwest corner of said lots; thence northeasterly a distance of 55.00
<br />feet along the south line of said Lots; thence northwesterly deflecting 90° 00' 00" left, a
<br />distance of 85.00 feet; thence westerly deflecting 45° 00' 00" left, a distance of 56.67
<br />feet; thence southwesterly deflection 40° 00' 00 ", left a distance of 15.00 feet to a point
<br />on the west line of said lots; thence southeasterly deflecting 90° 00' 00" left, a distance of
<br />125.00 feet along the west line of said lots to the point of beginning AND
<br />Fractional Lot Two (2), in Fractional Block One Hundred Twenty (120), in Railroad Addition
<br />and its complement to wit: Fractional Lot Two (2), in Fractional Block Twenty (20), in
<br />Arnold and Abbot's Addition, both being additions to the City of Grand Island, Hall County,
<br />Nebraska EXCEPTING a tract more particularly described in Warranty Deed recorded as
<br />Document No. 200607314
<br />The Property or its address is commonly known as 1007 W 2nd Street, Grand Island, NE
<br />68801-5821.
<br />CROSS - COLLATERALIZATION. In addition to the Note, this Assignment secures all obligations, debts 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 or 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 undeterminefl,
<br />absolute or contingent, liquidated or unliquidated, 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 unenforceable.
<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 loon to
<br />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 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 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 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 />Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans, liens, encumbrances, and
<br />claims except as disclosed to and accepted by Lender in writing.
<br />9 3 ) AO
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