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<br />WHEN RECORDED MAIL TO:
<br />Equitable Bank
<br />Diers Avenue Branch
<br />PO Box 160
<br />Grand Island, NE 68802-0160
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<br />FOR RECORDER'S USE ONLY
<br />ASSIGNMENT OF RENTS
<br />THIS ASSIGNMENT OF RENTS dated March 16, 2021, is made and executed between GMG
<br />Rentals, L.L.C., whose address is 4057 Anne Marie Ave, Grand Island, NE 68803; a Nebraska
<br />limited liability company (referred to below as "Grantor") and Equitable Bank, whose address is
<br />PO Box 160, Grand Island, NE 68802-0160 (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 />The Westerly Sixty (60) Feet of Lot Five (5), in Fractional Block Eight (8), of Gilbert's
<br />Addition and all that part of Fractional Lot Five (5), in Fractional Block Two (2), of H.G.
<br />Clark's Addition west of a line drawn Sixty feet East and parallel with the West line of said
<br />Lot Five (5), in Fractional Block Eight (8), of Gilbert's Addition, making a rectangular tract of
<br />land having a frontage of Sixty (60) Feet on Tenth Street and having a frontage of 132 feet
<br />on Clark Street, both of said Additions being to and in the City of Grand Island, Hall County,
<br />Nebraska.
<br />The Property or its address is commonly known as 824 W 10th St, Grand Island, NE 68801.
<br />The Property tax identification number is 400029804.
<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 />D or any one or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of
<br />W the Note, whether voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined,
<br />N 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 />D 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 />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.
<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.
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