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200112869
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Last modified
10/14/2011 2:00:58 PM
Creation date
10/20/2005 11:42:33 PM
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DEEDS
Inst Number
200112869
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200112869 <br />g. Assignor has no knowledge of any claims, offsets or defenses by any Lessees under <br />the Leases or any basis for asserting the same. <br />h. To the best of Assignor's knowledge, the Lessees are not in default of any of the <br />terms of the Leases. <br />7. Negative Covenants of Assignor. Assignor agrees that, so long as any obligation to <br />Assignee remains unfulfilled under the Note or Deed of Trust, Assignor will not without the express prior <br />written consent of Assignee, which consent may be granted or withheld in Assignee's sole discretion: <br />a. Enter into any Leases which are not upon terms and rental rates which are in all <br />respects substantially consistent with general market terms and rates for similar types of properties <br />in Hall County, Nebraska, which provide for usage that is not consistent with the current usage of <br />the Property, or which contain terms not substantially consistent with existing Leases of the <br />Property. <br />b. Except in the exercise of sound business judgment, modify, either orally or in <br />writing, any Lease now or hereafter existing so as to render the same not in compliance with (a) <br />above, or allow any lessee to surrender or terminate its Lease, or permit an assignment or sublease <br />under any Lease, or request or consent to the subordination of any Lease to any lien subordinate to <br />this Agreement. <br />C. Collect any rents, income and issues accruing under the Leases or from the Property <br />more than one (1) month in advance of the time when they shall become due. <br />d. Execute any other assignment of lessor's interest in the Leases or assignment of <br />rents accruing under the Leases or from the Property. <br />e. Do or permit anything to be done, the doing of which, or omit or refrain from doing <br />anything, the omission of which will or could be a breach or default in the terms of any of the <br />Leases or create or produce grounds for termination thereof by any lessee. <br />8. Notices. All notices, requests, demands and other communications hereunder shall be in <br />writing and shall be given in the manner specified in the Deed of Trust. <br />9. Successors and Assigns. This Assignment, together with the agreements and warranties <br />herein contained, shall inure to the benefit of Assignee and its successors and assigns and shall be binding <br />upon Assignor and Assignor's successors and assigns as to all or any part of the Property. <br />10. Governing Law; Severability. The loan contract between the parties, including this <br />Assignment, the Note and any other obligation which this Instrument secures, is made pursuant to and shall <br />be construed and governed by the laws of the United States and the rules and regulations promulgated <br />thereunder, and, to the extent the laws of a state are applicable (including laws regarding usury), by the <br />laws of the State in which this Assignment is recorded and the rules and regulations promulgated <br />thereunder. If any paragraph, clause or provision of this Assignment, the Note or any other notes or <br />obligations secured by this Assignment is construed or interpreted by a court of competent jurisdiction to <br />be void, invalid or unenforceable, such decision shall affect only that paragraph, clause or provision so <br />construed or interpreted and shall not affect the remaining paragraphs, clauses and provisions of this <br />Assignment or the Note or other notes or obligations secured by this Assignment. <br />2001. IN WITNESS WHEREOF, this Assignment has been executed this /-/' day of December, <br />BOSSELMAN PROPERTIES, INC., <br />a Nebraska Corporation, Assignor <br />Frederick A. Bosselman, its President <br />593541 3 <br />
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