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<br />89-= i61411
<br />ASSIGNMENT OF LEASES AND RENTS
<br />THIS ASSIGNMENT, made this 17th say of _ March
<br />by Steven S. Stauffer and Lucy M. Stauffer, husband and wife
<br />residing at or having an office at 2208 Viking Road, Grand Island Nebraska 68503
<br />,
<br />(herein called "Assignor"), to FirsTier Hank, National Association, Omaha, NE having
<br />its principal ofiiee at Omaha, Nebraska (herein called "Assignee',
<br />WITNESSETH:
<br />FOR VALUE RECEIVED, Assignor hereby grants, transfers and assigns to the Assignee all of theright, title
<br />and interest of Assignor in and to any and all leases and other tenancies now or hereafter made en or with respect to the real
<br />estate located in Hall County, Nebraska and more particularly described
<br />in Schedule A hereof which real estate shall be referpd to hereinafter as "Premises", including, butnot limited to that certsia
<br />Lisse or those certain Leases, with modification" any, described in Schedule B hereof covering the Premises; togetherwith,
<br />(1) any and all extensions or renewals thereof, (2) any and all guarantees of the Isaaee's obligations under any thereof and
<br />under any and all extensions or renewals of any thereat and (3) all renh4 issues, Profits, revenues, deposits, earnest mrrapy
<br />payments. rights and benefits now or hereafter arising from such less sad tenancies or for the use and accupancyp£x-
<br />Fremises, and any and all extensions and renewals thereof. Said leates and tenancies or other use of the Premises together
<br />with any and all gua_r=Gaee , modifications, extensions, andr newalsthereofshali% sometimeshereinafterreferredtoasthe
<br />..Lease,.
<br />FOR THE PURPOSE OF SECf,I .e-.' '
<br />ONE: Payment and performance ofesci un&` every debt, liability and obligation of every type and description
<br />which Aster may now or anytime hereafter owe to Assures, including, bat acct: limited to, the indebtedness of ,Assignor
<br />secured by that certain mortgage or deed of trust, made by firs. Assiguar to the Aosignee dated _ March 17
<br />and recorded or to be rwwrded at or prior to the recording of this A dgnmantr u�a xy other mortgage or deed of tract her Leer
<br />cnT,efogthe whole crany, part of the Premises. (whether such debt, liabiiIX ar6li4ation now exists oris hereaftercreated or
<br />inumme h =d 'whether It is or may be direct or indirect, due or to become duet, gbealxds or contingent, primary or secondary,
<br />liquidated car imliquidated, or joint, several, or joint and several, all such debts, liabilities and obligations being herein collec-
<br />tively refwred to sometimes as the "Obligations"); and
<br />TWO: Performance and discharge of each and every obligation, covenant and agreement ofAssignor contained
<br />herein or in any such mortgage or deed of trust or any note or bond secured thereby, or in any obligation or any securing
<br />document SEven in connection with any of the Obligations wnured hereby.
<br />A.' TO PR 7" THE SECURITY OF TMS ASSIGNWNT ASSIGNOR AGREES, WITH RESPECT
<br />TO EACH LEASE:
<br />t. To faithfully abide by, perform and discharge each and every obligation, covenant and agreement of the Lease
<br />by Lasor tote performed, to give prompt notice to the A#signrt.cf asy notice of defaulton thepart ofAssignor withrespeetto
<br />the Lease received from Lessee or guarantor, together with acs curate +rnd complete copy of any such notice; at the sole cost
<br />and expense ofAssignor, to enforceorsecure the performance af each and 43very obligation, covenant, condition and agreement
<br />of the Leese by the lessee to be performed; not to modify or fa aay way aster the terms of the Lease; not to terminate the terra of
<br />the Leese and not to accept a surrender of the rents thereuri.dhr or to waive, excuse, condone or in any mannea.release or dis-
<br />charge they Lessee thereunder from the obligations, cone ;s, conditions and agreements by the Lessee to Ism wormed,
<br />including the obligation to pay the rental called for thereur dir_ in the ma-zir.: r and &L the place and time specified dt -eTe n, and
<br />Assignor does by these presents expressly release, relinquish and surrerrd'a r arzft dt Assignee all Assignor's right, powerand
<br />authority to modify or is any way alter the terme ar provisions of the Lem:, cis to terminate the term or accept a surrenderLlsere.
<br />of, and any attempt on glee mmt +5f the Assigncr to excercise +erry such right without the written authority and copse. ; *the
<br />Assignee thereto being first had ard obtained shall constitutAt a Default of the terms hereof, as defined hereiaa5tes, en'dtcli -4
<br />the Assignee to declare all sums sem-ed hereby immedieFerri due and payable.
<br />2. At Assignor's sole cost and expense w.. a; pear in and defend any action or procee&r g arieiv.g uineAer, gm-Wirzg oat
<br />Of orin any manner connected with the Lease ortheobligadona, duties orliabilities ofLessor, Lesseeorgua_•aatortl;emur -der,
<br />and to pay all costs and expenses of the Assignee, including;Ttorney'a fees in a reasonable sum, in any such ai.- acs crpry^..eed•
<br />ing in which the Assignee may appear.
<br />3. That should Assignor fail to make any payment or to do any act as herein provided, then the Asa ig�n.ee, tut
<br />without obligation so to des and without notice to or demand on Assignor, and withoutreleasing Assignorfrom anynW g,:Lion
<br />lwr?of. may make or do didsamein such manner and tosuchextentastheAssigneemay deem necessary to protect the security
<br />hereof; including specifically, without limiting its general powers, the right to appear in and defend any action or proceeding
<br />purporting try affect the security hereof or the rights or powers of the Assignee, and also the right but not the duty to perform
<br />and discharge each and every obligation, covenant and agreement of Lessor in the Lease contained; and in exercising any
<br />such powers to pay necessary costs and expenses, employ counsel and incur and pay reasonable attorney's fees.
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<br />4. To pay immediately Moir demand all sums expended by the Assignee under the authority hereof, together with
<br />interest thereon at the highest rate set forth in any of the Obligations secured hereby, and the same shall beadded tothe Obli-
<br />gations and shall be secured hereby and by the said mortgage or deed of trust.
<br />5. That Assignor will not transfer or convey to the Lessee the fee title to the demised Premises, or any part thereof,
<br />unless the team assumes in writing and agrees to pay the debt secured hereby in accordance with the terms, convenants and
<br />conditions of the said note or bond secured by said mortgage or deed of trust.
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