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200004352
<br />The exercise of any of the foregoing rights or remedies and. the application of the rents, profits and income pursuant to the Section efri/tleu ~
<br />'Application of Rents, Profits and Income" shall not cure or waive any Event of Default (or notice of default) under the Deed of Trust or
<br />invalidate any act done pursuant to such notice.
<br />7. APPLICATION OF RENTS, PROFITS AND INCOME. All Rents collected by the Assignee or its agent or receiver each month shall be
<br />applied as follows:
<br />a) if a receiver has been appointed, to payment of all reasonable fees of the receiver;
<br />b) to payment of all tenant security deposits then owing to tenants under any of the Leases;
<br />c) to payment, when due, of prior or current real estate taxes and special assessments with respect to the Trust Property, or if the
<br />Deed of Trust requires periodic escrow payments for such taxes and assessments, to the escrow payments then due;
<br />d) to payment of all premiums then due for insurance required by the provisions of the Deed of Trust, or if the Deed of Trust requires
<br />periodic escrow payments for such premiums, to the escrow payments then due;
<br />e) to payment of expenses incurred for normal maintenance of the Trust Property;
<br />f) if received prior to any foreclosure sale of the Trust Property, to the Assignee for payment of the Obligation, but no such payment
<br />made after acceleration of the Obligation shall affect such acceleration;
<br />g) if received during or with respect to the period of redemption following a; fo(ictosuweaale of the Trust Property:
<br />(i) If the purchaser at the foreclosure sale is not the Assignee, fi /stto'the Assignee to the extent of any deficiency of the sale
<br />proceeds to repay the Obligation, second to the purchaser to be retained as a credit to the redemption price, but if the Trust
<br />Property is not redeemed, then to the purchaser of the Trust Property,
<br />(W If the purchaser at the foreclosure sale is the Assignee, to the Assignee to the extent of any deficiency of the sale proceeds to
<br />repay the Obligation and the balance to be retained by the Assignee as a credit to the redemption price, but it the Trust Property
<br />is not redeemed, then to the Assignee, whether or not any such deficiency exists.
<br />The rights and powers of the Assignee under this Assignment and the application of Rents under this Section shall continue until expiration
<br />of the redemption period from any foreclosure sale, whether or not any deficiency remains after the foreclosure sale.
<br />8. NO LIABILITY FOR ASSIGNEE. The Assignee shall not be obligated to perform or discharge, nor does it hereby undertake to perform or
<br />discharge, any obligation, duty or liability of the Assignor under the Leases. This Assignment shall not operate to place upon the
<br />Assignee responsibility for the control, care, management or repair of the Trust Property or for the carrying out of any of the terms and
<br />conditions of the Leases. The Assignee shall not be responsible or liable for any waste committed on the Trust Property, for any
<br />dangerous or defective condition of the Trust Property, for any negligence in the management, upkeep, repair or control of said Trust
<br />Property or for failure to collect the Rents.
<br />9. ASSIGNOR'S INDEMN IF ICAT ION. The Assignor shall indemnify and hold the Assignee harmless against any and all claims, demands,
<br />liability, loss or damage (including all costs, expenses and reasonable attorneys' fees in the defense thereof) asserted against, imposed
<br />on or incurred by the Assignee in connection with or as a result of this Assignment or the exercise of any rights or remedies under this
<br />Assignment or under the Leases or by reason of any alleged ob ligation or undertakings of the Assignee to perform or discharge any of
<br />the terms, covenants or agreements contained in the Leases. Should the Assignee incur any such liability, the amount thereof, together
<br />with interest thereon at the rate stated in the Note or the rate stated in the most recent obligation covered by the Guaranty, shall be
<br />secured hereby and by the Deed of Trust, and the Assignor shall reimburse the Assignee therefor upon demand.
<br />10. AUTHORIZATION TO TENANTS. Upon notice from the Assignee that it is exercising the remedy set forth in the Section entitled
<br />"Default, Remedies" of this Assignment, the tenants under the Leases are hereby irrevocably authorized and directed to pay to the
<br />Assignee all sums due under the Leases, and the Assignor hereby consents and directs that said sums shall be paid to the Assignee
<br />without the necessity for a judicial determination that a default has occurred hereunder or under the Deed of Trust or that the Assignee
<br />is entitled to exercise its rights hereunder, and to the extent such sums are paid to the Assignee, the Assignor agrees that the tenant
<br />shall have no further liability to the Assignor for the same. The signature of the Assignee alone shall be sufficient for the exercise of any
<br />rights under this Assignment and the receipt of the Assignee alone for any sums received shall be a full discharge and release therefor
<br />to any such tenant or occupant of the Trust Property. Checks for a// or any part of the Rents collected under this Assignment shall upon
<br />notice from the Assignee be drawn to the exclusive order of the Assignee.
<br />11. SATISFACTION. Upon the payment in full of the Obligation secured hereby as evidenced by a recorded deed of reconveyance, this
<br />Assignment shall, without the need for any further satisfaction or release, become null and void and be of no further effect.
<br />12. ASSIGNEE AS ATTORNEY -IN -FACT. The Assignor hereby irrevocably appoints the Assignee and its successors and assigns as the
<br />Assignor's agent and attorney -in -fact, which appointment is coupled with an interest, with the right but not the duty to exercise any
<br />rights or remedies hereunder and to execute and deliver during the term of this Assignment such instruments as the Assignee may deem
<br />appropriate to make this Assignment and any further assignment effective, including but not limited to the right to endorse on behalf and
<br />in the name of the Assignor all checks from tenants in payment of Rents that are made payable to the Assignor.
<br />13. SPECIFIC ASSIGNMENT OF LEASES. The Assignor shall transfer and assign to the Assignee upon written notice by the Assignee, any
<br />and all specific Leases that the Assignee requests. Such transfer or assignment by the Assignor shall be upon the same or substantially
<br />the same terms and conditions as are herein contained, and the Assignor shall properly file or record such assignments, at the
<br />Assignor's expense, if requested by the Assignee.
<br />14, UNENFORCEABLE PROVISIONS SEVERABLE. A// rights, powers and remedies provided herein may be exercised only to the extent that
<br />the exercise thereof does not violate any applicable law, and are intended to be limited to the extent necessary so that they will not
<br />render this Assignment invalid, unenforceable or not entitled to be recorded, registered or filed under any applicable law. if any terms
<br />of this Assignment shall be held to be invalid, illegal or unenforceable, the validity of other terms hereof shall in no way be affected
<br />thereby.
<br />15. SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon the Assignor and the heirs, legal representatives and assigns of
<br />the Assignor, and shall inure to the benefit of the Assignee and its successors and assigns.
<br />16. AMENDMENT; NOTICE. This Assignment can be amended only in a writing signed by the Assignor and the Assignee. Any notice under
<br />this Assignment shall be deemed to have been given when given in accordance with the requirements for notice under the Deed of
<br />Trust.
<br />17. COUNTERPARTS. This Assignment maybe executed in any number of counterparts, each of which shall bean original and all of which
<br />together shall constitute one instrument.
<br />THIRD PARTY. If the Assignor is an individual, nothing contained herein shall in any way obligate the spouse, if any, of the Assignor to
<br />pay the Obligation unless such spouse also signed the Note or the Guaranty that is evidence of the Obligation.
<br />* Lot Four (4), Block Ninety -Nine (99), Railroad Addition to the City of Grand Island,
<br />Hall County, Nebraska
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