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<br />ASSIGNMENT OF LEASES AND RENTS
<br />89-- 101935
<br />KNOW ALL MEN BY THESE PRESENTS,
<br />THAT WHEREAS, Grand Island Health Care, Inc., a Nebraska
<br />corporation (hereinafter referred to as the "undersigned „), is
<br />justly indebted to American Federal Savings and Loan Association of
<br />Iowa, a federally charted savings and loan association (hereinafter
<br />referred to as "Beneficiary"), for the principal sum of one million
<br />two hundred fifty thousand dollars (.$1,250,000.00), which
<br />indebtedness and interest thereon is evidenced by a promissory
<br />Note, dated April 1989 (hereinafter referred to as the
<br />"Note "); and
<br />WHEREAS, to sedure to Beneficiary the repayment.of said
<br />indebtedness and interest thereon, the undersigned, as Trustos,; has
<br />executed." a Deed of Trust, plated April _14- 1989 ( hereinafter
<br />refir ed to as the "Deed Of Trust ") to American Federal,. as ,
<br />Benef*Aary, conveying the following, described real estate,.
<br />together with all b Idings, structures, i rsro�r cents, fixtures and.
<br />personal property now or hereafter existing thereon:
<br />Lot 1, 'Wolfels r-jr Subdivision to the City- 'of Grand
<br />lalc nd, Hall County, Nebraskan and i J.
<br />A part of Lot 4, in WEBH ROAD SUBDIVZSIO* N ire the City of
<br />Grrand Island, in Hall -County, Nebraska, more parti:ctularly
<br />described as follows:
<br />Beginning at the Northeast corner of "saaid Lot 4; thence
<br />Southerly, along the Easterly line of said Lot 4,, a
<br />distance of 325.74 feet; thence deflecting left 21016130"
<br />and nwtning Southeasterly, along said Lot line, a
<br />distance of 185,.98 feet, to the Southeast corner of said
<br />Lot 4; thence %lesterly, along the Soutlerly line of said
<br />Lot 4, a distance of 143.48 feet; thence deflecting right
<br />88'4510511 and running Northerly, a distance of 500.26
<br />feet, to the North line of said Lot 4; thence Easterly,
<br />along the North line of said Lot 4, a distance of 75.00
<br />feet, to the Place of Beginning. .
<br />(all of the above described property being hereinafter referred to
<br />as the "Premises "); and
<br />WHEREAS„ Beneficiary is the legal owner and holder of the Note
<br />and is the berne::isisiry under the above described Deed of Trust; and
<br />WHEREAS, the undersigned is desirous of further securing the
<br />indebtedness now due to Beneficiary under the Note and as otherwise
<br />delineated in the Deed of Trust.
<br />NOW THEREFORE, in consideration of these presents and the
<br />mutual agreements herein contained, and as further and additional
<br />security for the payment and performance of all of the terms,
<br />provisions, covenants and agreements contained in tha Nate and in
<br />the Deed of Trust, the undersigned does hereby sell, assign and
<br />transfer unto Beneficiary all the rents, revenues, issues and
<br />profits now due and which may hereafter become due under or by
<br />virtue of the use, occupancy or operation-of the Premises, or any
<br />part thereof, or of any lease, whether written or verbal, or any
<br />letting of, or of any agreement for the use or occupancy of the
<br />Premises, or any part thereof, together with all leases and
<br />occupancy agreements resulting therefrom, or pertaining thereto,
<br />and all extensions and renewals thereof, it being the intention
<br />hereby to establish an absolute transfer and assignment of all the
<br />said leases and agreements and ali the avails thereof to
<br />Beneficiary, and the undersigned does hereby irrevocably appoint
<br />D: \LOANDOC \HEALTH. AS11
<br />April io, 198'.() I
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