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<br /> ASSIGNMENT �F RENTS
<br /> Loan No: ��12�8�79 ��ontinued} Page �
<br /> of NE, and is d�scribed as fv�lows: Lots Thirteen t'I3}, Fourteen {'l4� an� 1N�sterly Three
<br /> �VI13} feet of Lot Fift�en �15�, �n B�o�k Sixteen {'i 6} in Ashtvn Place, and Addition t� the C�ty
<br /> af Grand Island, Hall �ounty, Nebraska, Praperty Address is: �71$ West Koenig Str�et,
<br /> �rand Is�and, NE �8��3
<br /> The Prop�rty or its address �s commonly kno►nrn as '14�4 V1! '!5T ST & ���7 ti111 4TH ST & 3�4
<br /> VII 8TH ST & �7'18 W K�EN[G ST, GRANa ISLAND, NE �$$�'I.
<br /> CROSS�C�LLATERALiZATI�N. �n addi�ion to the No�e, this Assignmen� secures ai� ob[igations, debts and liabiiities,
<br /> p�us in�eres�thereon, of Grantor ta Lender, or any one or more of th�m, as wel� as ai1 claims by Lender against Gran�or
<br /> or any �ne or more ot them, vvh�ther now existing or hereafter arising, whe�her rela�ed or unrelated fio the purpose of
<br /> the Note, whether �a�untary or otherwise, whether due ar not due, direct or indirect, determined or unde�ermEned,
<br /> absalute �r con�kingent, liquidated ❑r un�iquidated, whether Grantor may be liable indiWidually or jointly wEth ❑thers,
<br /> wh�ther obligated as guaran�or, surety, accommoda�ion par�y ❑r otherv+rise, and whether reco�ery upan such amounts
<br /> may be ar herea#ter may become barred by any stafiute of limi�ations, and whether�he obligation to repay such amounts
<br /> may be or herea-��er may b�come�therwise unen�orceable.
<br /> REV�LVING LENE �F �REDIT. This Assignment secures the Indebtedness inc[udEng, wi�h�u#limi�a�ion, a re�ol�ing line
<br /> of credit, which obligates Lender #o make ad�anc�s tv Grantor sa long as �rant�r complies with ai� the #erms o� the
<br /> Na�e.
<br /> THES ASSIGNIVIENT IS G�VEN TQ SECURE {'i� PAYMENT �F THE lN�EgTEDNESS AND {�} PERF�RNEANCE DF ANY
<br /> AND ALL �BL1GATl�NS �F GRANT�R UNaER THE NaTE. THiS ASSI�NMENT, AND THE RELATED D�CUMENTS.
<br /> THIS ASS��NMENT IS GIVEN AND A�CEPTED QN THE FULLQINlNG TERMS:
<br /> PAYMENT AND PERF�RMANCE. Except as otherwise pra�ided in this Assignment or any Related aocumen�s, Grantor
<br /> shali pay �ko Lender all amounts secured by this Assignrnent as �hey �ecvme due, and shali strict[y per�orm all ❑fi
<br /> Grantor's obligativns under this Assignm�nt. Llnless and unti[ Lender exercis�s its right ta c�llect�he Rents as prv�ided
<br /> be[ow and so Iang as the�e is no defaul� under this Assignment, Grantor may remain in passession and can�ro[ of and
<br /> �perate and manage the Praperty and co[I�ct�h� Ren�s, pro�ided tha�th� granting ❑f�he �ight to collec�t the Rents shall
<br /> no�constitute Lender's consent to the use ❑f cash cvllateral in a bankruptcy pr�ceeding.
<br /> GRANT�R'S REPRESENTATi�NS AND 1NARRANTIES. Grantvr warran�s-tha�t:
<br /> �wnership. Grantor is en-titled to recei�e fihe Ren�s free and clsar flf ai! rights, [oans, liens, encumbrances, and
<br /> Glaims except as disclased ta and accept�d by Lender in wri�ing.
<br /> Right to Assign. �rantor has the �u�� right, pow�r and authority �o en�er int❑ this Assignment and t❑ assign and
<br /> con�ey the Ren�s�a Lender.
<br /> No Prior Assignment. Gran�vr has not pre�ivusly assigned �r �on�eyed �he Rents to any ❑�her person by any
<br /> instrument no►rv in�vr�e.
<br /> No Furth�r Transfer. Grantor wE�� no�sell, assign, encumber, ❑r otherwise dispase o�any ❑f Grantor's righfis in the
<br /> Rents except as pro�ided in�his Assignment.
<br /> LENDER'S R[�HT T� RECEiVE AND CQLLE�T RENTS. Lend�r shal[ ha�e the right at any time, and �W�n though no
<br /> de�au�t shall ha�e occurred under�this Assignment, to ca�lect and recei�� �he Rents. For this purpose, Lender Es hereby
<br /> gi�en and granted�he following rights, powers and au�hority:
<br /> Nofi�e #o Tenants. L�nd�r may send n�tices to any and all tenan�s a� the Prop�r�y ad�ising them flt this '
<br /> Assignment and directing all Rents�a be paid directly to Lender�r Lender's a�ent.
<br /> Enter#he Proper�y. Lender may en�er upon and take passession o-F the Prvperty; demand, collect and recei�e �rom
<br /> the �enants ❑r frvm any ❑�her persons liabl� �herefor, a!1 vf the Rents; ins�i�ute and carry on all �egal praceedings
<br /> necessary -For the protec�ion o� �he Praperty, including such pro�eedings as may be necessary �� recaWer
<br /> passessi�n ot the Praper�y; collec�t'the Rents and remaWe any tenant a�tenan�s or other persons fram�he Property.
<br /> 1111ain�a�n �he Property. Lender may enter upon �he Prop�rty t❑ main�ain the Property and keep the same in repair;
<br /> fio pay�he casfis thereo-F and ��all ser�ices �f all employees, �nciuding their equipment� and afi all continuing cos�ks
<br /> and expenses of maintafn�ng fihe Praperty in proper repair and cond�tEon, and alsv to pay all taxes, assessments at�d
<br /> water u�ili�ies, and�he premiums on fire and ❑ther insurance effected by L�nder on the Praper�y.
<br /> C�mpCiance wi�h Laws. Lender may do any and aii things �❑ execute and comply with th� lavus of �he Sta�e ❑f
<br /> Nebraska and also all other laws, rules, �rders, ordinances and r�quiremen�s of all other ga�ernmental agencies
<br /> affecting the Prope�-ty.
<br /> Lease�he Proper#y. Lender may rent or [ease the wha�e or any part vf the Property far such term or�erms and on
<br /> such conditions as Lender may de�m apprflpriate.
<br /> Employ Agen�s. Lender may engage such agent or ag�nts as Lender may deem appropria�e, ei-ther in Lender's
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