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60
<br />200004560
<br />ASSIGNMENT OF DEED OF TRUST, SECURITY AGREEMENT AND FINANCING
<br />STATEMENT AND ASSIGNMENT OF LEASES AND RENTS
<br />THIS ASSIGNMENT OF DEED OF TRUST, SECURITY AGREEMENT AND
<br />FINANCING STATEMENT AND ASSIGNMENT OF LEASES AND RENTS (this
<br />"Assignment "), made and entered into as of the day of AAOtt, 1991, is by FIRST UNION
<br />NATIONAL BANK, a national banking association, having an office at One First Union Center,
<br />DC6, 301 South College Street, Crlotte, North Carolina 28288 -0166 ( "Assignor "), in favor of
<br />having an office at
<br />( "Assignee ").
<br />Minns;u a,ss t01% 65414
<br />WITNESSETH
<br />WHEREAS, Assignor is the present legal and equitable owner and holder of that certain
<br />Promissory Note dated as of March 24, 1999, executed by TIMM PROPERTIES III LIMITED
<br />PARTNERSHIP, a Nebraska limited partnership, (the "Borrower "), and made payable to the
<br />order of Assignor in the stated principal amount of FIVE MILLION TWO HUNDRED
<br />THOUSAND AND 00 /100 DOLLARS ($5,200,000.00) (the "Note ") in connection with the
<br />refinancing of certain real property situated in the City of Grand Island, County of Hall, State of
<br />Nebraska as more particularly described on Exhibit A annexed hereto and made a part hereof
<br />(the "Premises "); and
<br />WHEREAS, the Note is secured by the Deed of Trust, Security Agreement and Financing
<br />Statement and Assignment of Leases and Rents, as both are hereinafter defined; and
<br />WHEREAS, the parties hereto desire that Assignor assign to Assignee, its successors and
<br />assigns, all of Assignor's right, title and interest in and to the Deed of Trust, Security Agreement
<br />and Financing Statement and Assignment of Leases and Rents.
<br />NOW, THEREFORE, in consideration of the premises above set forth and for other good
<br />and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and
<br />agreed, Assignor and Assignee hereby covenant and agree as follows:
<br />1. Assignment. Assignor does hereby transfer, assign, grant and convey to Assignee, its
<br />successors and assigns, all of the right, title and interest of Assignor in and to the following
<br />documents and does hereby grant and delegate to Assignee, its successors and assigns, any and
<br />all of the duties and obligations of Assignor under the following documents from and after the
<br />date hereof:
<br />(a) That certain Deed of Trust, Security Agreement and Financing Statement dated as
<br />of March 24, 1999 between Borrower, as trustor and Assignor as mortgagee (the "Security
<br />Instrument ") and recorded on /JJ,�,C o?� 199 in Booel i3�-; page in the
<br />Hall County Clerk's Office, encumbering the Premises, together with the notes and bonds
<br />secured thereby; and
<br />(b) That certain Assignment of Leases and Rents dated as of March 24, 1999 (the
<br />"Assignment of Leases "), assigning to Assignor all existing and future leases and rents relating
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