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<br />WHEN RECORDED MAIL TO:
<br />PINNACLE BANK
<br />BEATRICE MAIN OFFICE
<br />523 COURT ST
<br />PO BOX 100
<br />BEATRICE, NE 68310
<br />FOR RECORDER'S USE ONLY
<br />ASSIGNMENT OF RENTS
<br />THIS ASSIGNMENT OF RENTS dated July 22, 2016, is made and executed between
<br />ELIZABETH SANTIAGO, a single person (referred to below as "Grantor ") and PINNACLE BANK,
<br />whose address is 523 COURT ST, PO BOX 100, BEATRICE, NE 68310 (referred to below as
<br />"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 />PARCEL 1: LOT TEN (10), IN BLOCK EIGHTY -SIX (86), IN WHEELER AND BENNETT'S
<br />FOURTH ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />PARCEL 2: LOT ONE (1), BLOCK THIRTY -TWO (32), RUSSEL WHEELER'S
<br />ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />The Property or its address is commonly known as 204 WEST 15TH ST, AND 523 EAST 11TH
<br />ST, , GRAND ISLAND, NE 68801. The Property tax identification number is 400126443,
<br />400121913.
<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 />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.
<br />Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and receive from
<br />the tenants or from any other persons liable therefor, all of the Rents; institute and carry on all legal proceedings
<br />necessary for the protection of the Property, including such proceedings as may be necessary to recover
<br />possession of the Property; collect the Rents and remove any tenant or tenants or other persons from the Property.
<br />Other Acts. Lender may do all such other things and acts with respect to the Property as Lender may deem
<br />appropriate and may act exclusively and solely in the place and stead of Grantor and to have all of the powers of
<br />Grantor for the purposes stated above.
<br />APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with the Property shall be for
<br />Grantor's account and Lender may pay such costs and expenses from the Rents. Lender, in its sole discretion, shall
<br />determine the application of any and all Rents received by it; however, any such Rents received by Lender which are
<br />not applied to such costs and expenses shall be applied to the Indebtedness. All expenditures made by Lender under
<br />this Assignment and not reimbursed from the Rents shall become a part of the Indebtedness secured by this
<br />Assignment, and shall be payable on demand, with interest at the Note rate from date of expenditure until paid.
<br />FULL PERFORMANCE. If Grantor pays all of the Indebtedness when due and otherwise performs all the obligations
<br />imposed upon Grantor under this Assignment, the Note, and the Related Documents, Lender shall execute and deliver to
<br />Grantor a suitable satisfaction of this Assignment and suitable statements of termination of any financing statement on
<br />file evidencing Lender's security interest in the Rents and the Property. Any termination fee required by law shall be
<br />paid by Grantor, if permitted by applicable law.
<br />LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in
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