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201308738
<br /> ASSIGNMENT OF RENTS
<br /> Loan No: 81003920 (Continued) Page 4
<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 or 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 TOMMY L UMMEL SR.
<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 TOMMY UMMEL SR..
<br /> Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to
<br /> Lender, including without limitation a 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 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. However, "Indebtedness" shall not include any liabilities and obligations under any interest rate
<br /> protection agreements or foreign currency exchange agreements or commodity price protection agreements, unless
<br /> otherwise agreed in writing by Grantor and Lender.
<br /> Lender. The word "Lender" means Equitable Bank, its successors and assigns.
<br /> Note. The word "Note" means the promissory note dated October 31, 2013, in the original principal
<br /> amount of $300,000.00 from Borrower to Lender, together with all renewals of, extensions of, modifications
<br /> 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 interest in and to all the Property as
<br /> described in the "Assignment" section of this Assignment.
<br /> Related Documents. 'I he words "Related Documents" mean all promissory notes, credit agreements, loan
<br /> agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of trust, security
<br /> deeds, collateral mortgages, and all other instruments, agreements and documents, whether now or hereafter
<br /> existing, executed in connection with the Indebtedness.
<br /> Rents. I he word "Rents" means all of Grantor's present and future rights, title and interest in, to and under any
<br /> and all present and future leases, including, without 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 other payments and benefits derived 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. THIS
<br /> DOCUMENT IS EXECUTED ON OCTOBER 31. 2013.
<br /> GRANTOR:
<br /> TOMMY UMMEL tR_
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