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r2 <br />.s <br />ck^ <br />L <br />M <br />c <br />D <br />n <br />1 (A <br />c Q <br />0 <br />L� <br />T1 \ 1 <br />Q Lr_' <br />M <br />M <br />C) <br />cn CID <br />L <br />C` <br />U) <br />cn <br />SPACE ABOVE RESERVED FOR RECORDER'S USE <br />ASSIGNMENT OF LEASES AND RENTS <br />C7.) cn <br />C> -� <br />c n <br />Z M <br />-C O <br />Co _n <br />'*i Z <br />-• M <br />n co <br />r � <br />r n <br />cn <br />m <br />CZ) <br />r\3 <br />co <br />O =2- <br />O <br />H C01J <br />co <br />N <br />C3 <br />C2 <br />Loan No. <br />FOR VALUE RECEIVED, Bosselman, Inc., a Nebraska corporation, whose principal address is <br />3123 Stolley Park Road, Grand Island, Nebraska 68802 -1567 ( "Assignor ") hereby grants, transfers and <br />assigns to Commercial Federal Bank, a Federal Savings Bank, whose address is 740 N.W. Blue Parkway, <br />Lee's Summit, Missouri 64086 ( "Assignee ") the entire interest of Assignor as Lessor in and to all leases, <br />subleases, licenses, concessions or other agreements now existing and hereafter entered into (collectively <br />"Leases ") for all or any part of the real property more particularly described as on Exhibit A attached hereto <br />( "Property"), together with all rents, income and issues arising therefrom, and any renewals and <br />modifications thereof, and together with all rents, income and issues arising from the use and occupation of <br />the Property and from any property covered by the Leases, whether real, personal, mixed or intangible. <br />This Assignment is intended to be, and shall be construed as, creating an absolute assignment unto <br />Assignee, and not as an assignment as security, and to such extent shall be unconditional and irrevocable <br />except as hereinafter provided to the contrary. In connection with and as a part of this Assignment, <br />Assignor hereby warrants, represents, and agrees to and with Assignee as follows: <br />1. Assignee Rights. Assignor, Bosselman, Inc. of Big Springs, Bosselman, Inc. of Oklahoma, <br />Bosselman, Inc. of Kansas, Bosselman, Inc. of Iowa, and Bosselman Properties, Inc. (each a "Borrower" <br />and with Assignor, collectively "Borrowers ") have contemporaneously herewith executed and delivered to <br />Assignee a certain Promissory Note in the principal amount of Twenty Three Million Seven Hundred <br />Seventy Five Thousand Dollars ($23,775,000.00) ( "Note "). In order to secure payment of the Note, <br />Assignor, as trustor, has contemporaneously herewith executed a certain Deed of Trust, Assignment of <br />Rents and Security Agreement to Commercial Federal Bank, a Federal Savings Bank, Trustee, in favor of <br />Assignee as Beneficiary ( "Deed of Trust "). Unless and until there shall have occurred an event of default <br />in the performance by Assignor of any of its duties or obligations, including, but without limitation, the <br />payment of money, arising under the Note or the Deed of Trust, Assignor is hereby granted a revocable <br />license and may collect at the time of, but in no event more than one (1) month before, the date provided <br />for payment, all rents, income and issues arising under the Leases and retain the use of and enjoy the same <br />subject to the provisions contained in the Deed of Trust. Upon or at any time after the occurrence of any <br />such event of default which is not cured within any applicable cure period, Assignee may, at its option, by <br />giving written notice thereof to Assignor and without regard to the adequacy of any security for the <br />payment or performance of any duties and obligations arising under the Note and the Deed of Trust, either <br />in person or by agent, with or without bringing any action or proceeding, or by receiver appointed by a <br />court, revoke the foregoing license, take possession of the rents, income and issues and/or the Property and <br />hold, manage, let and operate the same on such terms and for such period of time as Assignee may deem <br />proper in its discretion and, with or without taking possession of the Property, demand, sue for, or <br />otherwise collect all rents, income and issues of the Leases and the Property, including those past due and <br />unpaid, with full power to modify, extend or terminate existing Leases, to execute new Leases, and to make <br />from time to time such alterations, renovations, repairs and replacements as may seem proper to Assignee, <br />and apply such rents, income and issues to the payment of all expenses of managing, operating and <br />maintaining the Leases and the Property, all expenses incident to taking and retaining possession of the <br />Property, and the principal, interest, and other indebtedness evidenced and/or secured by the Note and the <br />Deed of Trust together with all costs and attorneys' fees incurred by Assignee in connection with any of the <br />foregoing matters, in the order of priority set forth in the Deed of Trust, any statute, law, custom, or use to <br />the contrary notwithstanding. Exercise or nonexercise by Assignee of the options granted in this paragraph, <br />or collection and application of rents, income and issues by Assignee or its agent shall not be considered a <br />waiver of any default by Assignor under this Assignment, the Note or the Deed of Trust. <br />2. Non - Liability and Indemnification of Assignee. Assignee shall not be liable for any loss <br />sustained by Assignor resulting from Assignee's failure to let the Property or any part thereof or from any <br />other act or omission of Assignee in managing the Property, unless such loss is caused by the gross <br />59301 -1 <br />1 <br />