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THIS ASSIGNMENT OF AND SECURITY INTEREST IN LEASES AND RENTS
<br />( "Assignment ") is made as of the 24TH day of February, 2000, by
<br />and between the Assignor, Mid - Country Trading, L.L.C., a Nebraska N6
<br />limited liability company, (herein "Borrower ", whether one or
<br />more), whose mailing address is: c/o O'Connor Enterprises, Inc.,
<br />P.O. Box 139, Grand Island, NE 68802 -0139; and the Assignee,
<br />National Bank of Commerce Trust and Savings Association, Lincoln,
<br />Nebraska, (herein "Lender ") , whose mailing address is P.O. Box
<br />82408, Lincoln, Nebraska 68501. In consideration of the
<br />advancing of credit by Lender to or for the benefit of Borrower,
<br />evidenced by a Trust Note in the amount of $720,000.00 of even
<br />date, plus interest (said Trust Note and any and all renewals,
<br />amendments, modifications, future advances, increases and
<br />extensions thereof hereafter collectively called the "Note "), and
<br />for other good and valuable consideration, Borrower agrees as
<br />follows:
<br />1. With respect to that certain real property described as
<br />follows (the "Real Property "):
<br />Parcel 1: Lot Two (2), in Park Island Square
<br />Subdivision, in the City of Grand Island, Hall County,
<br />Nebraska
<br />Parcel 2: Lots One (1) and Two (2), in Park Island
<br />Square Fifth Subdivision, in the City of Grand Island,
<br />Hall County, Nebraska;
<br />of which Borrower is the owner, Borrower does hereby absolutely
<br />and irrevocably bargain, sell, transfer, assign, convey, set over
<br />and deliver unto Lender, its successors and assigns:
<br />(a) the right of the immediate use and possession
<br />of said Real Property and all fixtures, equipment
<br />appliances and other items of personal property owned
<br />by Borrower now or hereafter located on said Real
<br />Property (collectively the "Personal Property ") to the
<br />exclusion of Borrower and its successors, assigns and
<br />agents;
<br />(b) all of the present, future, and after - arising
<br />rents, income, receipts, revenue, royalties, deposits,
<br />issues, profits or any other payment or benefit derived
<br />under the Leases or any extensions, renewals or
<br />substitutions thereof, as well as all monies due or to
<br />become due Borrower under the Leases for services,
<br />materials, or installations supplied, whether or not
<br />the same were supplied under the terms of the Leases
<br />(such income, receipts, revenues, deposits, issues,
<br />profits and other monies assigned hereby being
<br />hereafter called the "Rents "), together with any and
<br />all rights and remedies which Borrower may have against
<br />any tenant under any of the leases or others in
<br />possession of the Real Property or any part thereof for
<br />the collection or recovery of the Rents or money so
<br />assigned;
<br />(c) all of the right, title and interest of
<br />Assignor in and to all leases, licenses, and occupancy
<br />agreements, whether oral or written, now or hereafter
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<br />ASSIGNMENT OF AND SECURITY
<br />INTEREST IN
<br />LEASES
<br />AND
<br />RENTS
<br />THIS ASSIGNMENT OF AND SECURITY INTEREST IN LEASES AND RENTS
<br />( "Assignment ") is made as of the 24TH day of February, 2000, by
<br />and between the Assignor, Mid - Country Trading, L.L.C., a Nebraska N6
<br />limited liability company, (herein "Borrower ", whether one or
<br />more), whose mailing address is: c/o O'Connor Enterprises, Inc.,
<br />P.O. Box 139, Grand Island, NE 68802 -0139; and the Assignee,
<br />National Bank of Commerce Trust and Savings Association, Lincoln,
<br />Nebraska, (herein "Lender ") , whose mailing address is P.O. Box
<br />82408, Lincoln, Nebraska 68501. In consideration of the
<br />advancing of credit by Lender to or for the benefit of Borrower,
<br />evidenced by a Trust Note in the amount of $720,000.00 of even
<br />date, plus interest (said Trust Note and any and all renewals,
<br />amendments, modifications, future advances, increases and
<br />extensions thereof hereafter collectively called the "Note "), and
<br />for other good and valuable consideration, Borrower agrees as
<br />follows:
<br />1. With respect to that certain real property described as
<br />follows (the "Real Property "):
<br />Parcel 1: Lot Two (2), in Park Island Square
<br />Subdivision, in the City of Grand Island, Hall County,
<br />Nebraska
<br />Parcel 2: Lots One (1) and Two (2), in Park Island
<br />Square Fifth Subdivision, in the City of Grand Island,
<br />Hall County, Nebraska;
<br />of which Borrower is the owner, Borrower does hereby absolutely
<br />and irrevocably bargain, sell, transfer, assign, convey, set over
<br />and deliver unto Lender, its successors and assigns:
<br />(a) the right of the immediate use and possession
<br />of said Real Property and all fixtures, equipment
<br />appliances and other items of personal property owned
<br />by Borrower now or hereafter located on said Real
<br />Property (collectively the "Personal Property ") to the
<br />exclusion of Borrower and its successors, assigns and
<br />agents;
<br />(b) all of the present, future, and after - arising
<br />rents, income, receipts, revenue, royalties, deposits,
<br />issues, profits or any other payment or benefit derived
<br />under the Leases or any extensions, renewals or
<br />substitutions thereof, as well as all monies due or to
<br />become due Borrower under the Leases for services,
<br />materials, or installations supplied, whether or not
<br />the same were supplied under the terms of the Leases
<br />(such income, receipts, revenues, deposits, issues,
<br />profits and other monies assigned hereby being
<br />hereafter called the "Rents "), together with any and
<br />all rights and remedies which Borrower may have against
<br />any tenant under any of the leases or others in
<br />possession of the Real Property or any part thereof for
<br />the collection or recovery of the Rents or money so
<br />assigned;
<br />(c) all of the right, title and interest of
<br />Assignor in and to all leases, licenses, and occupancy
<br />agreements, whether oral or written, now or hereafter
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