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Loan No: 101275594
<br />201403455
<br />ASSIGNMENT OF RENTS
<br />(Continued) Page 4
<br />responsible for all obligations in this Assignment.
<br />Merger. There shall be no merger of the interest or estate created by this assignment with any other interest or
<br />estate in the Property at any time held by or for the benefit of Lender in any capacity, without the written consent
<br />of Lender.
<br />Interpretation. (1) In all cases where there is more than one Borrower or Grantor, then all words used in this
<br />Assignment in the singular shall be deemed to have been used in the plural where the context and construction so
<br />require. (2) If more than one person signs this Assignment as "Grantor," the obligations of each Grantor are joint
<br />and several. This means that if Lender brings a lawsuit, Lender may sue any one or more of the Grantors. If
<br />Borrower and Grantor are not the same person, Lender need not sue Borrower first, and that Borrower need not be
<br />joined in any lawsuit. (3) The names given to paragraphs or sections in this Assignment are for convenience
<br />purposes only. They are not to be used to interpret or define the provisions of this Assignment.
<br />No Waiver by Lender. Grantor understands Lender will not give up any of Lender's rights under this Assignment
<br />unless Lender does so in writing. The fact that Lender delays or omits to exercise any right will not mean that
<br />Lender has given up that right. If Lender does agree in writing to give up one of Lender's rights, that does not
<br />mean Grantor will not have to comply with the other provisions of this Assignment. Grantor also understands that
<br />if Lender does consent to a request, that does not mean that Grantor will not have to get Lender's consent again if
<br />the situation happens again. Grantor further understands that just because Lender consents to one or more of
<br />Grantor's requests, that does not mean Lender will be required to consent to any of Grantor's future requests.
<br />Grantor waives presentment, demand for payment, protest, and notice of dishonor.
<br />Notices. Any notice required to be given under this Assignment shall be given in writing, and shall be effective
<br />when actually delivered, when actually received by telefacsimile (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 person may change his or her address for notices under this Assignment by giving formal
<br />written notice to the other person or persons, specifying that the purpose of the notice is to change the person's
<br />address. For notice purposes, Grantor agrees to keep Lender informed at all times of Grantor's current address.
<br />Unless otherwise provided or required by law, if there is more than one Grantor, any notice given by Lender to any
<br />Grantor is deemed to be notice given to all Grantors. It will be Grantor's responsibility to tell the others of the
<br />notice from Lender.
<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 finds that any provision of this Assignment is not valid or should not be enforced, that fact
<br />by itself will not mean that the rest of this Assignment will not be valid or enforced. Therefore, a court will
<br />enforce the rest of the provisions of this Assignment even if a provision of this Assignment may be found to be
<br />invalid or unenforceable.
<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 words shall have the following meanings when used in this Assignment:
<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 BRYAN FREW and ERYN FREW.
<br />Credit A reement. The words "Credit Agreement" mean the credit agreement dated June 5, 2014, with credit
<br />limit of $15,000.00 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 />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 BRYAN FREW and ERYN FREW.
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses
<br />payable under the Credit Agreement or Related Documents, together with all renewals of, extensions of,
<br />modifications of, consolidations of and substitutions for the Credit Agreement or Related Documents and any
<br />amounts expended or advanced by Lender to discharge Grantor's obligations or expenses incurred by Lender to
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