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<br /> HiiC Assignments Of Leases G
<br /> �BANKS And Rents �
<br /> � (Nebraskal
<br /> This Assignment is made June 15, 1999 , between
<br /> Timoth C. Plate
<br /> /tne "Assigno�"l, a(nJ individual, a single person and
<br /> Norwest Bank Nebraska. National Association
<br /> /the "Assignee"1, a national banking association.
<br /> � The Assignor has executed and delive�ed to the Assignee its promissory note dafed June 15, 19 9 9 in the original
<br /> principal amount of S 300, 000.00 and any extensions, renewals or modifications thereof/the "Note"1.
<br /> � The Assignor has executed and delivered to the Assignee its guaranty dated in favo�of the Assignee for
<br /> the benefit of
<br /> /the "Borrower"J in the amount of S and any replacements or substitutions the�eof/the "Guaranty"1.
<br /> To secure payment of the obligation described above (the "Obligation"J, the Assignoi has executed and delivered to the Assignee a
<br /> deed of trust("Deed of Trust")dated June 15, 1999 , covering certain p�operty("T�ust Property"J including, among other things,
<br /> the real estate described in the aitached Exhibit A and the buildings, improvements, fixtures and personal property now or in the future
<br /> located thereon.
<br /> The Assignee has required the execution of this Assignment as a condition to making or accepting the Obligation.
<br /> ACCORD/NGLY, in conside�ation of the premises and other good and valuable consideration, the Assignor does hereby grant, transfe�
<br /> and assign to the Assignee all of the Assignor's right, title and interest in and to (il any and all present or future leases or tenancies, whether
<br /> written or oral, covering or affecting any or all of the Trust Property, togeiher with any and all extensions, modifications and renewals thereof
<br /> (each, a "Lease"and col%ctively, the "Leases"l, and(ii)all rents,profits and other income or payments of any kind due or payable or to
<br /> become due or payable to the Assignor as the resu/t of any use,possession or occupancy of all or any poriion of the Trust Property or as the
<br /> �esult of rhe use of or lease of any persona!prope�ty constituting a part of the Trust Property, whether accruing before or after foreclosure of
<br /> the Deed of Trust or during the period of redemption thereof("Rents"l, all for the purpose of securing (al payment of all indebtedness
<br /> evidenced by the Obligation and al1 other sums secured by the Deed of T�ust;and(6J performance and discharge of each and every
<br /> obligation, covenant and agreement of the Assignor coniained herein and in the Deed of Trust.
<br /> The Assignor warrants and covenanis that Assigno�rs and will remain the absolute owner of the Rents and Leases free and c%ar of all
<br /> liens and encumbrances other than the lien granied herein, that Assignor has not previously assigned or otherwise encumbered the
<br /> Assignor's interest in any of the Rents or Leases to any other pe�son; ihat Assignor has the�ight under applicab/e/aw, under the Leases and
<br /> otherwise to execute and deliver this Assignment and to keep and perform all obligations hereunder,•and that Assignor wil/warrant and
<br /> defend the Leases and Rents against aJl adverse claims, whethe�now existing or late�arising.
<br /> The Assignor further covenants and agrees as fol%ws:
<br /> 1. PERFORMANCE OF LEASES. The Assigno�will faithfully abide by,perform and discharge each and every obligation, covenant and
<br /> agreement which it now is or hereafter becomes liable to observe or perform undei any present or future Lease, and, ai the Assignor's
<br /> sole cost and expense, will enforce or secure the pe�formance of each and every obligation, under each and every Lease. The Assignor
<br /> will observe and comply with all provisions of law applicable to the operation and ownership of the Trust Prope�ty. The Assignor will give
<br /> prompt written notice to the Assignee of any notice of defau/t on the part of the Assignor with respect to the Lease received from the
<br /> tenant thereunder, and will also at Assignor's so%cost and expense, appea�in and defend any aciion or proceeding arising under,
<br /> growing out of or in any manner connected with any Lease or the obligations, duties or liabilities of the Assignor or any tenant thereunder.
<br /> The Assignor wi//not/ease or otherwise permit the use of a//or any portion of the Trust Property for rent that is be%w the fai�market
<br /> �ent for such property.
<br /> 2. COLLECT/ON OF RENTS/N ADVANCE. The Assignor will not col%ct or accept any Rents for the use or occupancy of the Trust Properiy
<br /> for more than one month in advance. Security deposits shall not be deemed Rents for purposes of this pa�agraph.
<br /> 3. PROTECTING THE SECURITY OF THlS ASSIGNMENT. Should the Assignor fail to perform or obse�ve any covenant or agreement
<br /> contained in this Assignment, then the Assignee may(but shaU have no obligation to/make or do the same in such manner and to such
<br /> extent as the Assignee may deem appropriate to protect the security hereof. The�ights of the Assignee hereunder shall include but not
<br /> be limited to (i/ the right to appear in and defend any aciion or proceeding purpoiting to affect the security heieof or the righis or powers
<br /> of the Assignee, lii/ the right to perform and discharge each and every obligation, covenant and agreement of the Assignor contained in
<br /> the Lease, and(iiiJ the right, in exercising any of the other rights granied hereunder, to pay necessary costs and expenses, employ
<br /> counsel and pay reasonable attorneys'fees. The Assignor shall pay on demand all sums expended by the Assignee pursuant to this
<br /> paragraph, together with interest thereon at the rate stated by the Note o�the rate stated in the most�ecent obligation covered by the
<br /> Guaraniy, and the same shall be added to the Obligation secured hereby and by the Deed of Tiust.
<br /> 4. PRESENT ASSIGNMENT. This Assignment shall constitute a perfected, absolute and present assignment;provided that the Assignor shall
<br /> have the right to co//ect a//of the Rents (subject to the Section entit/ed "Co//ection of Rents in Advance"J and to retain, use and enjoy the
<br /> same until an Eveni of Default occurs under the Deed of Trust or the Assignor breaches any warranty o�covenant contained in this
<br /> Assignmeni. Any Rents accruing prior to an Event of Defau/t under the Deed of Trust but paid theieafter sha//be paid to the Assignee.
<br /> 5. SURVlVAL OF OBL/C'iA T/ON. This Assignment is given as security in addition to the Deed of Trust.A//of the Assignor's ob/igations under
<br /> the Deed of Tiust and this Assignment shall survive foreclosure of the Deed of Trust. The Assignor shall observe and comply with all
<br /> terms and conditions contained in the Deed of Trust and in this Assignment and shall preclude any Event of Defau/t from occu�ring under
<br /> the Deed of Trust during the period of redempfio»fol%wing foreclosure of the Deed of Trust.
<br /> 6. DEFAULT,•REMEDIES. Upon the occurrence of any Event of Default specified in the Deed of Trust or upon the breach of any warranty or
<br /> covenant contained in this Assignment, the Assignee may, at its option:
<br /> (al in the name,place and stead of the Assignor and as the Assignee in its so%discretion deems appropriate (il enter upon, manage and
<br /> operate the Trust Prope�ty or retain the services of one o�mo�e independent contraciois to manage and operate a//or any part of the
<br /> T�ust Property; (iil make, enforce, modify and accept sunender of the Leases; (iiil obtarn or evict tenants, co/%ct, receive, sue for, fix,
<br /> modify, adjust or compromise the Rents, and enforce all rights of the Assignor under the Leases;and(iv1 perform any and all other
<br /> acts that may be necessary or pioper to protect the security of this Assignment.
<br /> b) with or without exe�cising the rights set forth in subparagraph (aJ above,give or require the Assignor to give notice to any or a//
<br /> tenants under the Leases authorizing and directing them to pay all Rents under the Leases directly to the Assignee;and
<br /> cl without regard to any waste, adequacy of the security o�solvency of the Assignor, app/y for the appointment of a receiver of the �
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