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<br />Assignment of Leases and Rents
<br />(Nebraska)
<br />This Assignment is made this _08/09/2 0 01 between
<br />- -_ - S\
<br />Gayle Binfield and LaDonna Binfield, husband and wife �
<br />- -
<br />Irhe "Assignor " /, afnl husband and wife --arid
<br />Wells Fargo Bank Nebraska National Association
<br />- - - -- -
<br />1 ._
<br />(the "Assignee "J, a national ranking association,
<br />[X� The Assignor has executed arid delivered to the Assignee its promissory note dated 08/09/2001 in the original
<br />principal arrrount of $ 109 000_._00._- _ and any extensions, renewals or modifications thereof (the "Note ").
<br />[ The Assignor has executed and delivered to the Assignee its guaranty dated in favor of the Assignee for
<br />the benefit of
<br />-- -
<br />(the "Borrower "I in the amount d/ $ and any repincements or substitutions thereof (the "Guaranty "),
<br />To secure payment of the obligation described above (the "Obligation "), the Assignor has executed and delivered to the Assignee a
<br />deed of trust ( "Deed of Trust') dated 08 09 2001 covering cprtaLr property ("Trust Property ") including, among other things,
<br />the real estate described "lido Ot af, c�I Vl( %ii, rid the buildings, improvements, fixtures and personal property now or in the future
<br />located thereon. �eIow
<br />The Assignee has required the execution of this Assignment as a condition to rr,aking or accepting the Obligation.
<br />ACCORDINGLY, in consideration of the premises and other good and valuable consideration, the Assignor does hereby grant, transfer
<br />and assign to the Assignee all of the Assignor's right, title arid interest in and to (d) any and all present or future leases or tenancies, whether
<br />written or oral, covering or affecting any or all of the Trust Property, together with any and all extensions, modifications and renewals thereof
<br />(each, a "Lease" and collectively, the "Leases'), and (ii) all rents, profits and other income or payments of any kind due or payable or to
<br />beromP rlue or payable to the Assignor as the result of .any use, possession or occupancy of ail or any portion of the Trust Properly or as the
<br />result of the use of or lease of any personal property constituting a part of the Trust Property, whether accruing before or after foreclosure of
<br />the Deed of Trust or during the period of redemption thereof ( "Rents'), all for the purpose of securing (a) payment of all indebtedness
<br />evidenced by the Obligation and all other sums secured by the Deed of Trust; arid (b) performance arid discharge of each and every
<br />obligation, covenant and agreement of the Assignor contained herein and in the Deed of Trust.
<br />The Assignor warrants and covenants that Assignor is and will remain the absolute owner of the Rents and Leases free and clear of all
<br />liens and encumbrances other than the lien granted herein, that Assignor has not previously assigne6( or otherwise encumbered the
<br />Assignor's interest it, any of the Rents or Leases to any other person; that Assignor has the right under applicable law, under the Leases and
<br />otherwise to execute and deliver this Assignment and to keep and penlorrn all obligations hereunder; and that Assignor will warrant and
<br />de fend the Leases and Rents against all adverse claims, whether now existing or later arising.
<br />The Assignor further covenants and agrees as follows:
<br />1. f'LRFOR_M_ANCE OF LEASES. The Assignor will faithfully abirde by, penforn, and discharge each and every obligation, covenant and
<br />agreement which it now is or hereafter becomes liable to observe or perform under any present or future Lease, and, at the Assignor's
<br />sole cost and expense, will enforce or secure the performance of each and every obligation, under each and every Lease. The Assignor
<br />will observe and comply with all provisions of law applicable to the operation and ownership of the Trust Property. The Assignor will give
<br />prompt written notice to the Assignee of any notice of default on flip part of the Assignor with respect to the Lease received from the
<br />tenant thereunder, and will also at Assignor's sole cost and expense, appear in and defend any action or proceeding arising under,
<br />growing out of or in any manner connected with any Lease or the obligations, duties or liabilities of the Assignor or any tenant thereunder.
<br />The Assignor will not /ease or otherwise pennit the use of all on any portion of the Trust Property for rent that is below the fair market
<br />rent for such property.
<br />2, COLLECTION OF RENTS IN ADVANCE. The Assignor will not collect or accept any Rents for the use or occupancy of the Trust Property
<br />for more than one month in advance. Security deposits shall not be deemed Rents for purposes of this paragraph.
<br />3. PROTECTING ME SECUR17Y OF THIS ASSIGNMENT Should the Assignor fail to perform or observe any covenant or agreement
<br />contained in this Assignment, then the Assignee may (hut shall have no obligation to) make or do the same in such manner and to such
<br />extent as the Assignee may deem appropriate to protect the security hereof, The rights of the Assignee hereunder shall include but not
<br />hr` lin,itpd to 0 the right to appear in and defend any ac coo or nr. •eedin, l r iuurn, q to affect the security hereof or the rights or powers
<br />cif the Assignee, (ri) the right to perform and discharge each and every ohfigation, covenant and agreement of the Assignor contained in
<br />the Lease, and (iii) the right, in exercising any of the other rights granted hereunder, to pay necessary costs arid expenses, employ
<br />counsel and pay reasonable attorneys' fees. The Assignor shall pay on denranrl all sums expended by the Assignee pursuant to this
<br />paragraph, together with interest thereon at the rate stated by the Note or the rate stated in the "lost recent obligation covered by the
<br />Guaranty, and the same shall be added to the Obligation secured hereby and by the Deed of Trust.
<br />4. PRESENT ASS /GNMEN7. This Assignment shall constitute a perfected, absolute and present assignment; provided that the Assignor shall
<br />have the right to collect all of the Rents fsuhject to the Section entitled "Collection of Rents in Advance') and to retain, use and enjoy the
<br />sate untif an Fvent of Default occurs under the Deed of Trust or the Assignor hrcaches any warranty or covenant contained in this
<br />Assignment. Any Rents accruing prior to an Event of Default under the Deed of 1 rust hilt paid thereafter shall he paid to the Assignee.
<br />5. SURVIVAL OF_OB_LIGATION. This Assignment is ,given as security in addition to the Deed of Trust. All of the Assignor's obligations under
<br />the Deed of Trust and this Assignr"ent shall survive foreclosure of the Deed of Trust. the Assignor shall observe and comply with all
<br />terms and conditions contained in the Deed of Trust and in this Assignment arrd shall preclude any Event of Default from occurring tinder
<br />the Deed of Trust during the period of redemption following foreclosure of fhe Deed of Trust.
<br />The Southeast Quarter (SE1 /4) and Lot One (1) in the South Half of the Northeast Quarter
<br />(S1 /2NE1 /4) of Section Fifteen (1.5), Township Nine (9) North, Range Eleven (11) West of
<br />the 6th P.M., Hall. County, Nebraska, being all the land in the East Half of said Section
<br />Fifteen (15) lying South of the South Channel of the Platte River.
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<br />Assignment of Leases and Rents
<br />(Nebraska)
<br />This Assignment is made this _08/09/2 0 01 between
<br />- -_ - S\
<br />Gayle Binfield and LaDonna Binfield, husband and wife �
<br />- -
<br />Irhe "Assignor " /, afnl husband and wife --arid
<br />Wells Fargo Bank Nebraska National Association
<br />- - - -- -
<br />1 ._
<br />(the "Assignee "J, a national ranking association,
<br />[X� The Assignor has executed arid delivered to the Assignee its promissory note dated 08/09/2001 in the original
<br />principal arrrount of $ 109 000_._00._- _ and any extensions, renewals or modifications thereof (the "Note ").
<br />[ The Assignor has executed and delivered to the Assignee its guaranty dated in favor of the Assignee for
<br />the benefit of
<br />-- -
<br />(the "Borrower "I in the amount d/ $ and any repincements or substitutions thereof (the "Guaranty "),
<br />To secure payment of the obligation described above (the "Obligation "), the Assignor has executed and delivered to the Assignee a
<br />deed of trust ( "Deed of Trust') dated 08 09 2001 covering cprtaLr property ("Trust Property ") including, among other things,
<br />the real estate described "lido Ot af, c�I Vl( %ii, rid the buildings, improvements, fixtures and personal property now or in the future
<br />located thereon. �eIow
<br />The Assignee has required the execution of this Assignment as a condition to rr,aking or accepting the Obligation.
<br />ACCORDINGLY, in consideration of the premises and other good and valuable consideration, the Assignor does hereby grant, transfer
<br />and assign to the Assignee all of the Assignor's right, title arid interest in and to (d) any and all present or future leases or tenancies, whether
<br />written or oral, covering or affecting any or all of the Trust Property, together with any and all extensions, modifications and renewals thereof
<br />(each, a "Lease" and collectively, the "Leases'), and (ii) all rents, profits and other income or payments of any kind due or payable or to
<br />beromP rlue or payable to the Assignor as the result of .any use, possession or occupancy of ail or any portion of the Trust Properly or as the
<br />result of the use of or lease of any personal property constituting a part of the Trust Property, whether accruing before or after foreclosure of
<br />the Deed of Trust or during the period of redemption thereof ( "Rents'), all for the purpose of securing (a) payment of all indebtedness
<br />evidenced by the Obligation and all other sums secured by the Deed of Trust; arid (b) performance arid discharge of each and every
<br />obligation, covenant and agreement of the Assignor contained herein and in the Deed of Trust.
<br />The Assignor warrants and covenants that Assignor is and will remain the absolute owner of the Rents and Leases free and clear of all
<br />liens and encumbrances other than the lien granted herein, that Assignor has not previously assigne6( or otherwise encumbered the
<br />Assignor's interest it, any of the Rents or Leases to any other person; that Assignor has the right under applicable law, under the Leases and
<br />otherwise to execute and deliver this Assignment and to keep and penlorrn all obligations hereunder; and that Assignor will warrant and
<br />de fend the Leases and Rents against all adverse claims, whether now existing or later arising.
<br />The Assignor further covenants and agrees as follows:
<br />1. f'LRFOR_M_ANCE OF LEASES. The Assignor will faithfully abirde by, penforn, and discharge each and every obligation, covenant and
<br />agreement which it now is or hereafter becomes liable to observe or perform under any present or future Lease, and, at the Assignor's
<br />sole cost and expense, will enforce or secure the performance of each and every obligation, under each and every Lease. The Assignor
<br />will observe and comply with all provisions of law applicable to the operation and ownership of the Trust Property. The Assignor will give
<br />prompt written notice to the Assignee of any notice of default on flip part of the Assignor with respect to the Lease received from the
<br />tenant thereunder, and will also at Assignor's sole cost and expense, appear in and defend any action or proceeding arising under,
<br />growing out of or in any manner connected with any Lease or the obligations, duties or liabilities of the Assignor or any tenant thereunder.
<br />The Assignor will not /ease or otherwise pennit the use of all on any portion of the Trust Property for rent that is below the fair market
<br />rent for such property.
<br />2, COLLECTION OF RENTS IN ADVANCE. The Assignor will not collect or accept any Rents for the use or occupancy of the Trust Property
<br />for more than one month in advance. Security deposits shall not be deemed Rents for purposes of this paragraph.
<br />3. PROTECTING ME SECUR17Y OF THIS ASSIGNMENT Should the Assignor fail to perform or observe any covenant or agreement
<br />contained in this Assignment, then the Assignee may (hut shall have no obligation to) make or do the same in such manner and to such
<br />extent as the Assignee may deem appropriate to protect the security hereof, The rights of the Assignee hereunder shall include but not
<br />hr` lin,itpd to 0 the right to appear in and defend any ac coo or nr. •eedin, l r iuurn, q to affect the security hereof or the rights or powers
<br />cif the Assignee, (ri) the right to perform and discharge each and every ohfigation, covenant and agreement of the Assignor contained in
<br />the Lease, and (iii) the right, in exercising any of the other rights granted hereunder, to pay necessary costs arid expenses, employ
<br />counsel and pay reasonable attorneys' fees. The Assignor shall pay on denranrl all sums expended by the Assignee pursuant to this
<br />paragraph, together with interest thereon at the rate stated by the Note or the rate stated in the "lost recent obligation covered by the
<br />Guaranty, and the same shall be added to the Obligation secured hereby and by the Deed of Trust.
<br />4. PRESENT ASS /GNMEN7. This Assignment shall constitute a perfected, absolute and present assignment; provided that the Assignor shall
<br />have the right to collect all of the Rents fsuhject to the Section entitled "Collection of Rents in Advance') and to retain, use and enjoy the
<br />sate untif an Fvent of Default occurs under the Deed of Trust or the Assignor hrcaches any warranty or covenant contained in this
<br />Assignment. Any Rents accruing prior to an Event of Default under the Deed of 1 rust hilt paid thereafter shall he paid to the Assignee.
<br />5. SURVIVAL OF_OB_LIGATION. This Assignment is ,given as security in addition to the Deed of Trust. All of the Assignor's obligations under
<br />the Deed of Trust and this Assignr"ent shall survive foreclosure of the Deed of Trust. the Assignor shall observe and comply with all
<br />terms and conditions contained in the Deed of Trust and in this Assignment arrd shall preclude any Event of Default from occurring tinder
<br />the Deed of Trust during the period of redemption following foreclosure of fhe Deed of Trust.
<br />The Southeast Quarter (SE1 /4) and Lot One (1) in the South Half of the Northeast Quarter
<br />(S1 /2NE1 /4) of Section Fifteen (1.5), Township Nine (9) North, Range Eleven (11) West of
<br />the 6th P.M., Hall. County, Nebraska, being all the land in the East Half of said Section
<br />Fifteen (15) lying South of the South Channel of the Platte River.
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