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2000M77
<br />The parties further agree as follows:
<br />This Assignment is an absolute, present assignment from Assignor to GE Capital,
<br />effective immediately, and is not merely an assignment for security purposes. Notwithstanding
<br />the foregoing, until written notice is sent to Assignor that an Event of Default (as defined in the
<br />Note and in the Deed of Trust) has occurred (which notice is hereafter called a "Notice "),
<br />Assignor is granted a license to receive, collect and enjoy the rents, income and profits accruing
<br />from the Property.
<br />GE Capital may, at its option, after delivery of a Notice to Assignor, receive and collect
<br />all such rents, income and profits, from the Property. GE Capital shall thereafter continue to
<br />receive and collect all such rents, income and profits as they become due as long as such Event
<br />of Default shall exist and during the pendency of any foreclosure proceedings, and if there is a
<br />deficiency, during any redemption period. All sums received by Assignor after service of such
<br />Notice shall be deemed received in trust and shall be turned over to GE Capital within one
<br />business day after Assignor's receipt thereof.
<br />Assignor hereby irrevocably appoints GE Capital its true and lawful attorney with power
<br />of substitution and with full power for GE Capital in its own name and capacity or in the name
<br />and capacity of Assignor, from and after delivery of a Notice, to demand, collect, receive and
<br />give complete acquittances for any and all rents, income and profits accruing from the Property,
<br />either in its own name or in the name of Assignor or otherwise, which GE Capital may deem
<br />necessary or desirable in order to collect and enforce the payment of the rents, income and
<br />profits. Such appointment is coupled with an interest and is irrevocable. Assignor also hereby
<br />irrevocably appoints GE Capital as its true and lawful attorney, from and after delivery of a
<br />Notice, to appear in any state or federal bankruptcy, insolvency or reorganization proceeding in
<br />any state or federal court involving any of the tenants of the Leases. Tenants of the Property are
<br />hereby expressly authorized and directed to pay any and all amounts due Assignor pursuant to
<br />the Leases to GE Capital or such nominee as GE Capital may designate in writing delivered to
<br />and received by such tenants, each of whom are expressly relieved of any and all duty, liability
<br />or obligation to Assignor in respect of all payments so made.
<br />From and after delivery of a Notice, GE Capital is hereby vested with full power to use
<br />all measures, legal and equitable, deemed by it to be necessary or proper to enforce this
<br />Assignment and to collect the rents, income and profits assigned hereunder, including the right of
<br />GE Capital or its designee to enter upon the Property, or any part thereof, and take possession of
<br />all or any part of the Property. Assignor hereby grants full power and authority to GE Capital to
<br />exercise all rights, privileges and powers herein granted at any and all times after delivery of a
<br />Notice, with full power to use and apply all of the rents and other income herein assigned to the
<br />payment of the costs of managing and operating the Property and to any indebtedness or
<br />liabilities of Assignor to GE Capital, including, but not limited to, the payment of taxes, special
<br />assessments, insurance premiums, damage claims, the costs of maintaining, repairing, rebuilding
<br />and restoring the improvements on the Property or of making the same rentable, reasonable
<br />attorneys' fees incurred in connection with the enforcement of this Assignment, and to the
<br />payment of principal and interest due from Assignor to GE Capital on the Note and the Deed of
<br />Trust, all in such order as GE Capital may determine. GE Capital shall be under no obligation to
<br />exercise or prosecute any of the rights or claims assigned to it hereunder or to perform or carry
<br />01- 288952.3A
<br />Grand Island, NE
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