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2� 1 7�2�97
<br /> ASSIGNMENT �F RENTS
<br /> Loan N�: 1�'13�383D t�ont�nued} Page 5
<br /> deem�d to be nvtice gi�en t❑ al� Grantvrs.
<br /> Powers vf Attorney. The �arious agenc�es and powers vf attvrney con�eyed on Lender under this Assignment are
<br /> gr-anted tor purposes af security and may nat be re�aked by Grantor unti� sueh tim� as the same are renounced by
<br /> Lender.
<br /> Se�erability. If a court af compet�nt jurisdiction finds any pra�ision ❑f �his Ass�gnment t❑ �e illegat, in�alid, or
<br /> unenforcealale as to any person vr cir�umstance, that finding shall not make the offending pro�ision il�egal, in�alid,
<br /> or unenforGeab�e as to any other person or circumstance. lf f�asihle, the nffending prv�ision sha�I be considered
<br /> mod+'tie� so t�at it becames legaf, �alid and enforceable. �t the vffending pr-o�ision cannat �e s� r�aditied, it shall
<br /> be canside�ed deleted from this Ass�gnment. Unless ❑therwise required by law, the iElegality, in�a�idity, ar
<br /> unenfor�eability af any pra�isivn of this Assignment shall nat affect the legality, �alidity ar enfarceability o� any
<br /> other provis�on�f this Assignment.
<br /> Successors and Assigns. Subj�ct to any limitati�ns stated in this Assignment on t�ansfer af Grantor's interest, this
<br /> Assignment shall be binding upon and inure to the ben�fit af the parties, their SUCCB55�1'S and a551gnS. lf
<br /> vwnership of th� Pr�perty bec�mes �ested in a persan vther than Grantar, Lender, withaut nvtice to Grantvr, may
<br /> deal with �rantvr's successars with reference t❑ this Assignment and the Indebtedness by way af fflrbearance or
<br /> extension without releasing Grantt�r from the obligat�ons af this Assignment or liability under the Indebt�dness.
<br /> Time is of the Essence. Time is of the essence in the p�rfarmance af this Asssgnment.
<br /> Vllai�er of Hannestead Exemption. Grantor hereby releases and wai��s all rights and benefits ❑f the homestead
<br /> exemption laws of the State of Nebraska as ta all lndebtedness secured by this Assignment.
<br /> DEFlNITIQNS. The follawing capi#al�zed words and terms sha�� ha�e the fvllawing m�anings when used in this
<br /> Assignment. lJnless specifically stated to the cantrary, af! referen�es t❑ dollar amounts shall mean amvunts in lawful
<br /> money of the United States of America. Wards and terms used in the singular shall include the plural, and the pluraf
<br /> shall include the singular, as �he �antext may require. Words and terms not atherwise defined in this Assignment shall
<br /> ha�e the meanings attri�uted ta such terms En the Llnifarm �ommercial Gode:
<br /> Assignment. The word "Assignment" means this A551GNMENT �F RENTS, as this AS�IGNMENT �F RENTS may
<br /> be amended or madified from time t❑ time, together w�th all exhibits and sch�dules attached t❑ this ASSI�NMENT
<br /> �F RENTS fram time to time.
<br /> Svrrawer. Th� word "6arrower" means EC�MUND R KERSHAW��! and MlCHELLE K KERSHAW.
<br /> Default. The word "Default" means the Default set farth in this Assignment�n the secti�n titted "Default".
<br /> Event af Default. The words "E�enx of Default" mean any of the e�en�s ❑f default set �orth in this Assfgnment in
<br /> the default section❑f this Assignment.
<br /> G�ant�r. The word "Grantvr" means EDMUNQ R KERSHAW Ill and MI�HELLE K KERSHAW.
<br /> Guaranty. The word "Guaranty" m�ans the guaranty fram guarantor, end�rser, surety, or accflmmadativn party ta
<br /> L�n�er, in�luding withQut limitation a guaranty af all ar part of the Note.
<br /> Indebtedness. Th� word "Indebtedness" means all principal, interest, and ❑ther amounts, costs and expens�s
<br /> payable under the �ote or Re�ated ❑ocumen�s, together with all renewals af, e�ctens�nns af, mod�#�cations of,
<br /> Gonsoiidations ❑f and subst�tuti�ns fo�the Nate or Related ❑acuments and any amounts expended or advanced by
<br /> Lender to discharge G�antar's obligations or expenses in�urred by Lender to enfvrce Grantvr's obligativns under
<br /> this Assignment, together with interest on such amounts as pro�ided in this Assignment. Specifically, withvut
<br /> limitation, Indebtedness in�ludes all amaunts that may be indirectly secured by the Cross-Callatera�izatian prv�ision
<br /> vf this Assignment.
<br /> Lender. The word "Lender" means F��e Points gank, its su�cess�rs and assigns.
<br /> Nvte. The w�rd "Note" means the promissory note dated April 2�, 2�17, in the original principal amount
<br /> �f $53,8�3.46 from �rantor to Lender, tvgether with al� renewals of, extsnsivns af, modifications of,
<br /> refinan�ings �f, cansolidatians❑f, and substitutions for the promissary note vr agreement.
<br /> Prvperty. The wvrd "Property" means al� of Grantar'� right, title and intersst in and f❑ a�i th� Property as
<br /> described in the "Assignment" sectian ❑f this Assignment.
<br /> Re�ated Documents. The wvrds "Related D�cuments" mean afl promissory nat�s, credit agreements, loan
<br /> agreements, en�irvnmental agreements, guaranties, security agreements, mortgages, deeds of trust, security
<br /> deeds, collateral mortgages, and a11 other instruments, agreements and dvcum�nts, whether now or hereafter
<br /> exist�ng, executed in canne�tivn with the Indebtedness.
<br /> Rents. Th� word "Rents" means all of Grant�r's present and future rights, titie and interest in, t❑ and under any
<br /> and a!I pr�sent and future leases, including, withvut limitation, al� rents, re�enue, inc�me, issues, royalties,
<br /> bvnuses, accounts re�ei�ab�e, cash or security depasits, ad�ance rentals, profits and prv�eeds frvm the Prvperty,
<br /> and vther payments and benefits deri�ed or t❑ be deri�ed fram such I�ases ❑f e�ery kind and nature, whether du�
<br /> naw ❑r later, including without timitatian Grantor's right to en�orce su�h leases and to recei�e an� callec� payment
<br /> and proGeeds thereunder.
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