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<br /> WHEN RECORDED MAIL TO:
<br /> GREAT WESTERN BANK ei G
<br /> Keamey
<br /> 2120 1st Ave
<br /> Kearney. NE 68847 FOR RECORDER'S USE ONLY
<br /> 0
<br /> is
<br /> •
<br /> ASSIGNMENT OF RENTS
<br /> THIS ASSIGNMENT OF RENTS dated May 11, 2015, is made and executed between O'Connor
<br /> Enterprises, Inc., a Nebraska Corporation, whose address is PO Box 139, Grand Island, NE
<br /> 68802 (referred to below as "Grantor") and GREAT WESTERN BANK, whose address is 2120
<br /> 1st Ave, Kearney, NE 68847 (referred to 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 /> Lots One (1) and Two (2) and Outlot "A", Block Four (4), Continental Gardens, an Addition
<br /> to the City of Grand Island, Hall County, Nebraska
<br /> The Property or its address is commonly known as 3111 College Street, Grand Island, NE
<br /> 68803.
<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 undetermined,
<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 loan 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 /> Right to Assign. Grantor has the full right, power and authority to enter into this Assignment and to assign and
<br /> convey the Rents to Lender.
<br /> No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any
<br /> instrument now in force.
<br /> No Further Transfer. Grantor will not sell,assign,encumber,or otherwise dispose of any of Grantor's rights in the
<br /> Rents except as provided in this Assignment.
<br /> LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no
<br /> default shall have occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby
<br /> given and granted the following rights, powers and authority:
<br /> Notice to Tenants. Lender may send notices to any and all tenants of the Property advising them of this
<br /> Assignment and directing all Rents to be paid directly to Lender or Lender's agent.
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