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Loan No: 101271982
<br />201400074
<br />ASSIGNMENT OF RENTS
<br />(Continued) Page 5
<br />modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shall
<br />be 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 />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 JOHN W DOESCHER and JULIE A DOESCHER.
<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 JOHN W DOESCHER and JULIE A DOESCHER.
<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 of this
<br />Assignment, together with all interest thereon.
<br />Lender. The word "Lender" means Five Points Bank, its successors and assigns.
<br />Note. The word "Note" means the promissory note dated January 3, 2014, in the original principal amount
<br />of $168,000.00 from Grantor to Lender, together with all renewals of, extensions of, modifications of,
<br />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. The 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. The 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.
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