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2� 17�2�94
<br /> ASS�GNMENT �F RENTS
<br /> Loan Nv: 'l�'13�383�3 {Contlrluedj Page 5
<br /> purpvses, Grantar agrees tv keep Lender infvrmed at all times ❑f Grantor's Gurrent address. Untess atherwise
<br /> pra�ided ar required by law, if there is more than �ne Grantor, any notice gi�en by Lender tn any Grantor is
<br /> deemed ta be notice gi�en to ali Grantors.
<br /> Pow�rs of Attorney. The �arious agencies and pvwers of attarney can�eyed on Lender under this Assignment are
<br /> granted for purposes vf security and may not be re�oked by Grantor until such time as the same ar� ren�unced by
<br /> Lender.
<br /> Se�erability. If a caurt ❑f competent jurisdiction finds any pro�isian ❑f this Assignment tv be i��egal, invalid, ❑r
<br /> unenfarceable as t❑ any persan or circumstance, that tinding shall not make the affending pr��ision illegal, in�alEd,
<br /> or unen#orceable as to any ather person or �ircumstance. If feasible, the off�nding pro�ision shall be considered
<br /> mvdified s❑ that it becames �egal, �alid and enfvrceable. If the ❑ffend�ng pr��isian cannot be s❑ madified, it shal�
<br /> be consrdered de�eted frvm th�s Assignment. Unless ath�rwise required by law, the illegality, in�alidity, or
<br /> unenfarceability af any pro�ision of this Assignment shall not a�#ect the legality, �alidity ❑r enforceability ofi any
<br /> athe� pro�ision of this Assignment.
<br /> Suc�essors and Assigns. Subject t❑ any limitatians stated in this Assignment on transfer of Grantor's interest, this
<br /> Assignment shai! be hinding upon and inure to the benefit af the parties, their successors and assigns. If
<br /> ownership ❑f the Prope�ty becomes �ested in a person other than Grantar, Lender, withaut n�tice ta Grantor, may
<br /> deal with Grantar's successors with reference to this Assignment and the lndebtedness by way vf farbearanc� o�
<br /> extensi�n without releasing Grantor from the abligations of this Assignment❑r liabili�y under the Indebtedness.
<br /> Time is �f the Essence. T�me is of the �ssence in the perfarman�e vf this Assignment.
<br /> 1Na�ver �f Homestead Exemption. Grantar hereby releases and wai�es all rights and benefits vf th� homestead
<br /> exemption laws vf the State af Nebraska as ta afl Indebtedn�ss secured by this Assignment.
<br /> DEFINlT14NS. The fvllawing capitalized wards and terms shall ha�� the follawing meanings when used in �his
<br /> Assignment. Un�ess specifically stated tv the contrary, all references to d�llar amounts shall mean amaunts in lawfut
<br /> money of the United States of America. Words and terms used in the singular shall include the plural, and the plural
<br /> shalf in�lude the singular, as the context may require, Wards and terms nvt �therwise defined in this Assignment shall
<br /> ha�e the meanings attrihuted t❑ such terms in the Unifarm Gammerciaf Cvde:
<br /> As�ignment. The wvrd "Assignment" means this A55IGNMENT�� RENTS, as this /�55IG�V�ENT�F RENTS may
<br /> �e amended ar modified from ttme tn time, tagether with all exhibits and schedules attached to this ASSIGNMENT
<br /> �F RENTS from time to time.
<br /> Borrower. The ward "Bvrrower" means EDMUND R KERSHAW 111 and MICHELLE K KERSHAW.
<br /> Default. The word "�efault" means the Default set forth in this Ass�gnment�n the se�tion titied "Default".
<br /> E�ent v# Default. The words "E�ent of Default" mean any of the e�ents of default set forth in this Assignment in
<br /> �he detau�t se�tion❑f tt�is Assigr�ment.
<br /> Grantar. The wvrd "Grantor" means EDMUN❑ R KERSHAW III and IVIICHELLE K KERSHAW.
<br /> �uaranty. The word "Guaran�y" means ths guaranty from guarantar, endarser, surety, ❑r accommodation party t❑
<br /> L�nder, including without limitativn a guaranty of all vr part of the Note.
<br /> Indebtednes5. The word "Ind�btedness" means a�f principal, interest, and other amaunts, cnsts and exp�nses
<br /> payable under the Nate or Related Documents, together with all renewals ❑f, extensions of, modifiGations vf,
<br /> consalidati�ns of and substitutions for the Note vr Related Documents and any amounts expended or ad�anced by
<br /> Lender ta discharge Grantor's obligations �� expenses in�urred by Lender to enforce Grantar's a�ligations under
<br /> this Assignment, tvgether with interest on such amaunts a� pro�ided in thi$ Assignment. Spe�ifical#y, without
<br /> fimitation, indebtedness in�ludes the future ad�ances set �orth in the Future Ad�ances pr��isivn, tagether with all
<br /> interest thereon and alt amaunts that may be indirectly secured by the Cross-Cvllateralization prv�ision of this
<br /> Assignment.
<br /> Lender. The word "Lender" means Fi�e Paints Bank, its successors and assigns.
<br /> No#e. The w�rd "NQte" means the prom�ssory note dated April 26, 2��7, in the ariginal principa� amount
<br /> Df $�3.$�3.46 fram Grantor t❑ Lender, together w�th all renewals vf, extensians of, modifications ❑f,
<br /> refinan�ings af, consolidati�ns of, and substitutions�or the prvmissory not�flr agreement.
<br /> Property. The word "Praperty" means all of Grantar's right, title and interest in and ta all th� Property as
<br /> described in the "Assignm�nt" sectian of this Assignment.
<br /> Relat�d Dvcuments. The words "Related I7vcuments" mean all promissory notes, credit agreements, laan
<br /> agreements, en�ironmental agreements, guaranties, security agreements, mvrtgages, deeds ❑f trust, se�urity
<br /> deeds, callateral mortgages, and all vther instruments, agreements and dvcuments, whether now ar hereafter
<br /> existing, executed in c�nnection with the �ndebtedness.
<br /> Rents. The ward "Rents" means all of Grant�r's present and #uture rights, title and interest in, tv and under any
<br /> and al! present and future leases, including, withaut limitation, a!I rents, re�enue, incame, issues, rayalties,
<br /> banuses, accounts recei�able, cash or securi�y depvsits, ad�ance rentals, protits and pro�eeds frvm the Property,
<br /> and other payments and benefi�s deri�ed or to be derived fr�m such leases of e�ery k�nd and nature, whether due
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