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20200661' In the event any item listed as Leases or Rents is determined to be personal property, this Assignment will also be regarded as a security agreement under the Nebraska Uniform Commercial Code. The real estate, all improvements, and all rents, leases and profits shall hereafter be referred to as "the property". BORROWER owes LENDER $110,000.00, evidenced by BORROWER'S note of even date, payable according to the terms thereof. This security instrument secures to LENDER the debt evidenced by said note, the payment of all other sums, with interest, advanced under the provisions hereafter to protect the security and the performance of BORROWER'S covenants and agreements. BORROWER covenants that BORROWER is lawfully seized of such real estate and has the legal power and lawful authority to convey the same and warrants and will defend title to the real estate against the lawful claims of all persons. BORROWER AND LENDER AGREE AS FOLLOWS: 1. BORROWER shall pay when due, the principal and interest as provided in said note and shall comply with all covenants and agreements therein. 2. All payments received by LENDER shall be first applied to advances that may have been made by LENDER and then to interest due and last to principal due. 3. BORROWER shall pay all general real estate taxes and special assessments against the property before the same become delinquent. 4. If LENDER determines that any part of this property is subject to a lien, which is or may attain priority over this security instrument, LENDER may give BORROWER a notice identifying the lien and BORROWER shall satisfy the lien within thirty (30) days. 5. Buyer shall keep the improvements on said premises insured against loss by fire and hazards included within the term "extended coverage" for their insurable value and policies for the same shall include a standard mortgage clause showing LENDER herein. In event of loss, LENDER may make proof of loss if not promptly made by BORROWER. Insurance proceeds shall be applied to restoration or repair of the property damaged, unless both parties otherwise agree, except if restoration or repair is not economically feasible or LENDER'S security is not lessened, otherwise said proceeds shall be paid on the debt herein, whether or not then due. Unless LENDER and BORROWER otherwise agree in writing, any payments or proceeds from insurance shall not extend or postpone the due date of the payments provided in said note, or change the amount of the payments.