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WHEN RECORDED MAIL TO:
<br />PINNACLE BANK
<br />AURORA MAIN OFFICE
<br />1234 L ST
<br />PO BOX 229
<br />AURORA, NE 68818
<br />• l
<br />CJ
<br />FOR RECORDER'S USE ONLY
<br />ASSIGNMENT OF RENTS
<br />THIS ASSIGNMENT OF RENTS dated November 4, 2020, is made and executed between
<br />EXADE, LLC, a Nebraska Limited Liability Company, whose address is 128 MARK ST,
<br />AURORA, NE 68818-1830; (referred to below as "Grantor") and PINNACLE BANK, whose
<br />address is 1234 L ST, PO BOX 229, AURORA, NE 68818 (referred to below 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 />Part of Block Six (6), in Pleasant Home Subdivision of part of the East half of the Southeast
<br />Quarter (E1/2SE1/4) of Section Twenty -One (21), in Township Eleven (11) North, range
<br />Nine (9) West of the 6th P.M., Grand Island, Hall County, Nebraska, described as follows:
<br />To -Wit: commencing at the Northeast Corner of Block Six (6), above described, running
<br />thence West along the North line of said Block Six (6), a distance of 80 feet; thence
<br />Southeast Right Angles a distance of 66 feet; thence East at Right Angles a distance of 80
<br />feet and thence North along the East line of said Block Six (6) a distance of 66 feet to the
<br />Place of Beginning.
<br />The Property or its address is commonly known as 1304 S LINCOLN AVE, GRAND ISLAND,
<br />NE 68801.
<br />CROSS -COLLATERALIZATION. In addition to the Note, this Assignment secures all obligations, debts and liabilities,
<br />plus interest thereon, of Grantor to Lender, or any one or more of them, as well as all claims by Lender against Grantor
<br />or any one or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of
<br />the Note, whether voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined,
<br />absolute or contingent, liquidated or unliquidated, whether Grantor may be liable individually or jointly with others,
<br />whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such amounts
<br />may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts
<br />may be or hereafter may become otherwise unenforceable.
<br />FUTURE ADVANCES. In addition to the Note, this Assignment secures all future advances made by Lender to Grantor
<br />whether or not the advances are made pursuant to a commitment. Specifically, without limitation, this Assignment
<br />secures, in addition to the amounts specified in the Note, all future amounts Lender in its discretion may loan to
<br />Grantor, together with all interest thereon.
<br />THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY
<br />AND ALL OBLIGATIONS OF GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED DOCUMENTS.
<br />THIS ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<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 />LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no
<br />default shall have occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby
<br />given and granted the following rights, powers and authority:
<br />Notice to Tenants. Lender may send notices to any and all tenants of the Property advising them of this
<br />Assignment and directing all Rents to be paid directly to Lender or Lender's agent.
<br />Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and receive from
<br />the tenants or from any other persons liable therefor, all of the Rents; institute and carry on all legal proceedings
<br />necessary for the protection of the Property, including such proceedings as may be necessary to recover
<br />possession of the Property; collect the Rents and remove any tenant or tenants or other persons from the Property.
<br />Other Acts. Lender may do all such other things and acts with respect to the Property as Lender may deem
<br />appropriate and may act exclusively and solely in the place and stead of Grantor and to have all of the powers of
<br />Grantor for the purposes stated above.
<br />APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with the Property shall be for
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