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WHEN RECORDED MAIL TO:
<br />Exchange Bank
<br />Gibbon Branch
<br />14 LaBarre Street
<br />PO Box 760
<br />Gibbon, NE 68840
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<br />FOR RECORDER'S USE ONLY 34 -
<br />ASSIGNMENT OF RENTS
<br />THIS ASSIGNMENT OF RENTS dated December 18, 2018, is made and executed between Ted
<br />Robb, a/k/a Theodore J. Robb; a Single Person (referred to below as "Grantor") and Exchange
<br />Bank, whose address is 14 LaBarre Street, PO Box 760, Gibbon, NE 68840 (referred to below
<br />as "Lender").
<br />ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security
<br />interest in, and conveys to Lender all of Grantor's right, title, and interest in and to the Rents
<br />from the following described Property located in Hall County, State of Nebraska:
<br />The Southerly One Hundred Eighty-eight and Six -tenths feet (188.6') of Lot Eight (8) and
<br />Lot Nine (9), Commercial Industrial Park Subdivision of Part of Block One (1), Nelsen
<br />Subdivision in the City of Grand Island, Hall County, Nebraska, excepting a certain tract
<br />deeded to Bosselman Inc., a Nebraska Corporation more particularly described in Warranty
<br />Deed recorded as Document No 89-106507.
<br />33' The Property or its address is commonly known as 603 S Webb & 703 S Webb, Grand Island,
<br />• NE 68803. The Property tax identification number is 400036592; 400036622.
<br />CROSS -COLLATERALIZATION. In addition to the Note, this Assignment secures all obligations, debts and liabilities,
<br />2:01 plus interest thereon, of either Grantor or Borrower to Lender, or any one or more of them, as well as all claims by
<br />Lender against Borrower and Grantor or any one or more of them, whether now existing or hereafter arising, whether
<br />fll related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or
<br />1.0.4 indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Borrower or Grantor
<br />may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or
<br />41 f"r1 ▪ otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of
<br />limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise
<br />412 unenforceable.
<br />THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY
<br />▪ AND ALL OBLIGATIONS OF BORROWER AND GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED
<br />DOCUMENTS. THIS ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
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<br />Con GRANTOR'S WAIVERS. Grantor waives all rights or defenses arising by reason of any "one action" or "anti -deficiency"
<br />law, or any other law which may prevent Lender from bringing any action against Grantor, including a claim for
<br />deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after Lender's commencement
<br />or completion of any foreclosure action, either judicially or by exercise of a power of sale.
<br />BORROWER'S WAIVERS AND RESPONSIBILITIES. Lender need not tell Borrower about any action or inaction Lender
<br />takes in connection with this Assignment. Borrower assumes the responsibility for being and keeping informed about
<br />the Property. Borrower waives any defenses that may arise because of any action or inaction of Lender, including
<br />without limitation any failure of Lender to realize upon the Property, or any delay by Lender in realizing upon the
<br />Property. Borrower agrees to remain liable under the Note with Lender no matter what action Lender takes or fails to
<br />take under this Assignment.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor
<br />shall pay to Lender all amounts secured by this Assignment as they become due, and shall strictly perform all of
<br />Grantor's obligations under this Assignment. Unless and until Lender exercises its right to collect the Rents as provided
<br />below and so long as there is no default under this Assignment, Grantor may remain in possession and control of and
<br />operate and manage the Property and collect the Rents, provided that the granting of the right to collect the Rents shall
<br />not constitute Lender's consent to the use of cash collateral in a bankruptcy proceeding.
<br />GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that:
<br />Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans, liens, encumbrances, and
<br />claims except as disclosed to and accepted by Lender in writing.
<br />Right to Assign. Grantor has the full right, power and authority to enter into this Assignment and to assign and
<br />convey the Rents to Lender.
<br />No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any
<br />instrument now in force.
<br />No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights in the
<br />Rents except as provided in this Assignment.
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