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<br /> ASSIGNtdENT OF RENTS
<br /> KNOW ALL MLN BY T!lESE PRESGNTS: 'Phat the undersigned, Financial �
<br /> Services Development, Inc., a Ohio corporation, whose Post Office address is
<br /> 3309 Clifton Avenue, Cincinnati, Ohio, 45220, for and in consideration of the sum
<br /> of FORTY EIGHT T2i0USAND AND NO/100 DOLLARS ($48,OOG.00), to it as a loan in hand
<br /> paid by The First NationaL Bank of Grand Island, Grand Island, Nebraska, and other
<br /> good and valuable consideration, the receipt whereof is hereby acknowledged, does
<br /> hereby assign, transfer and set over to The rirst National Bank of Grand Island,
<br /> Grand Island; Nebraska, as collateral security for such loan and so long as such
<br /> loan or any part thereof or interest thereon or advances made remains unpaid, all
<br /> of its right, title and interest in and to all of the rents, income and proceeds
<br /> �! upon the following described real estate, to-wit:
<br /> Lot Twenty-One (21), Wildwood Subdivision, Hall County, Nebraska.
<br /> The undersigned further hereby authorizes and empowers 'Phe rirst National
<br /> Bank of Grand Island, Grand Island, Nebraska, its authorized agents, servants,
<br /> employees and attorneys to act for it and to collect and receipt for such rent
<br /> and in default of the payment of such rent or any part thereof, to proceed in its
<br /> own name, or at their election, in our name, by a suit or suits at laca for the
<br /> '; recovery thereof in such manner as it should deem fit.
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<br /> The undersigned further authorizes and empowers 'Phe First National Bank of
<br /> Grand Island, Grand Island, Nebraska, its authorized agents, servants, employeea and
<br /> _ attorneys, in the event that such property becomes vacant prior to the payment in
<br /> full of the aforesaid sum to act for us and to rent the above described premises or
<br /> any part thereof.
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<br /> It is further understood and agreed that if the Assignor or its successors
<br /> or assigns shall occupy said premises during the existence of such loan, the Assignee
<br /> shall have the same rights of forfeiture, ejection for forcible entry and detainer,
<br /> as the Assignee might have against any other tenant who has no interest or title
<br /> in and to said premises.
<br /> It is further expressly stipulated and agreed that the temporary waiver
<br /> - of the collection of any such rents shall not be construed as constituing a
<br /> relinquishment of the rights granted hereunder, which rights may be exercised by the
<br /> f;A Assignee at any time during the existence of the above 1.oan or any extension thereof.
<br /> This Assignment of Rents is being made for the express purpose of having
<br /> such rents applied to the payments of principal and interest on the Loan of
<br /> $48,000.00, above described, and as agreed by the Assignor in the Promissory Note
<br /> and Real Eetate A[ortgage to be executed evidencing and securing such loan, with the
<br /> �� balance of such rents to be held by the Assignee in an escrow account for the purpose
<br /> t of paying the taxes on such property as the same shall become due.
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<br /> It is further agreed that The First National Bank of Grand Island, Grand
<br /> ; Island, Nebraska, may in its sole judgment and discretion, use the rents or any
<br /> part thereof so far as it may deem necessary for the purpose of making such repairs
<br /> upon the premises as in its judgment may be proper and may use such rents so far as
<br /> necessary ior the payment of insurance premiums upon such premises in the event that
<br /> the Assignor fails to roake such repairs and procure such insurance.
<br /> The Assignee shall not be obligated to perform or discharge any obligation
<br /> of any Lease covering the premises, or under or by reason of this Assignment or any
<br /> other Assignment which may be taken, and the Assignor hereby agrees to indemnify
<br /> the Assignee against and hold it harmlesa from any and all liability, loss or
<br /> damage which it may or might incur under the Lease or under or by reason of this
<br /> Assignment or any other Assignment, and under and from any and all claims and demands
<br /> whatsover which may be asserted against it by reason of any alleged obligations or
<br /> undertaking on its part to perform or discharge any of the terms of this Lease;
<br /> should the Assignee incur any such liability, loss or damage under the Lease, or �
<br /> under or by reason of this Assignment, or under any other Assignment, or in defense '
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