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200102666 1.4 "Mortgage" means that certain Mortgage affecting the Premises and securing the Note (as defined below) and all other Obligations (as defined below) from Assignor to Lender, together with all amendments, extensions and modifications thereof. 1.5 "Note" means that certain Promissory Note executed by Assignor on or about even date herewith in the original principal amount of $400,000.00 payable to Lender, and all amendments, extensions and modifications thereof. 1.6 "Obligations" means (a) the payment of the principal amount, interest and all indebtedness evidenced by the Note; (b) the payment of all other sums, with interest thereon, becoming due and payable to the Lender under the provisions of this Assignment and the Loan Documents; and (c) the performance and discharge of each and every other obligation, covenant, agreement or liability of the Assignor contained herein and in the Loan Documents. 1.7 "Premises" means all the real property in the County of Hall, State ofNebraska, more particularly described in Exhibit B, attached hereto and incorporated herein by reference. 1.8 "Rent" means all rents, royalties, income, issues, profits, security deposits, payments and other benefits of any kind presently or hereafter arising from the Leases and the use, possession or occupation of all or any portion of the Premises, whether same accrue before or after foreclosure of the Mortgage or during any applicable redemption period. SECTION 2 2.0 GRANT OF ASSIGNMENT. Assignor, for good and valuable consideration, the receipt of which is hereby acknowledged, DOES HEREBY ABSOLUTELY AND UNCONDITIONALLY GRANT, TRANSFER AND ASSIGN to Lender all Assignor's right, title and interest in and to all present and future Leases, Rents and Guaranties, and Lender shall be entitled to receive all of the benefits and exercise all of the rights related to or arising therefrom in the same manner and to the same extent as Assignor. This is a perfected, absolute and present assignment. Assignor intends that the Rents absolutely assigned hereunder are no longer, during the term ofthis Assignment, property ofAssignor or Assignor's estate as defined by 11 U.S.C. § 541 of the U.S. Bankruptcy Code and will not constitute collateral, cash or otherwise, of Assignor. Notwithstanding any law to the contrary, in the event of any Default (as defined hereunder), and if there is any law requiring Lender to take actual possession of the Premises (or some action equivalent thereto, such as securing the appointment of 1049117.1 2