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<br />WHEN RECORDED MAIL TO:
<br />NEBRASKA STATE BANK OF OMAHA
<br />3211 N 90TH STREET FOR RECORDEi'S USE ONLY
<br />OMAHA NE 68134
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<br />ASSIGNMENT OF RENTS
<br />THIS ASSIGNMENT OF RENTS dated December 10, 2001, is made and executed between MICHAEL G. 5
<br />FAHEY, A SINGLE PERSON WHOSE ADDRESS IS 9304 DAVENPORT ST OMAHA, NE 68114 and RICHARD J.
<br />COENEN, A MARRIED PERSON WHOSE ADDRESS IS 13022 HAMILTON CIR OMAHA, NE 68154. (referred to
<br />below as "Grantor ") and NEBRASKA STATE BANK OF OMAHA, whose address is 3211 N 90TH STREET,
<br />OMAHA, NE 68134 (referred to below as "Lender ").
<br />ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security interest in,
<br />and conveys to Lender all of Grantor's right, title, and interest in and to the Rents from the following
<br />described Property located in HALL County, State of Nebraska:
<br />LOT 2, FONNER FOURTH SUBDIVISION IN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA;
<br />TOGETHER WITH NON - EXLUSIVE EASEMENT RIGHTS CONTAINED IN, DECLARATION OF EASEMENT
<br />DATED AUGUST 12, 1998, FILED AUGUST 31, 1998 AS INSTRUMENT NO. 98- 108530, HALL COUNTY
<br />RECORDS.
<br />The Property or its address is commonly known as 1729 S LOCUST ST, GRAND ISLAND, NE 68801.
<br />THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL
<br />OBLIGATIONS OF GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED DOCUMENTS. THIS ASSIGNMENT IS GIVEN
<br />AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor shall pay to Lender all
<br />amounts secured by Lhis Assignment as they became due, and shall strictly perform all of Grantor's obligations under this Assignment. Unless
<br />and until Lender exercises its right to collect the Rents as provided below and so long as there is no default under this Assignment, Grantor may
<br />remain in possession and control of and operate and manage the Property and collect the Rents, provided that the granting of the right to collect
<br />the Rents shall 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 claims except as disclosed to
<br />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 convey the Rents to Lender.
<br />No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any 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 Rents except as provided
<br />in this Assignment.
<br />LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no default shall have
<br />occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby given and granted the following rights,
<br />powers and authority:
<br />Notice to Tenants. Lender may send notices to any and all tenants of the Property advising them of this Assignment and directing all Rents
<br />to be paid directly to Lender or Lender's agent.
<br />Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and receive from the tenants or from any
<br />other persons liable therefor, all of the Rents; institute and carry on all legal proceedings necessary for the protection of the Property,
<br />including such proceedings as may be necessary to recover possession of the Property; collect the Rents and remove any tenant or tenants
<br />or other persons from the Property.
<br />Maintain the Property. Lender may enter upon the Property to maintain the Property and keep the same in repair; to pay the costs thereof
<br />and of all services of all employees, including their equipment, and of all continuing costs and expenses of maintaining the Property in proper
<br />repair and condition, and also to pay all taxes, assessments and water utilities, and the premiums on fire and other insurance effected by
<br />Lender on the Property.
<br />Compliance with Laws. Lender may do any and all things to execute and comply with the laws of the State of Nebraska and also all other
<br />laws, rules, orders, ordinances and requirements of all other governmental agencies affecting the Property.
<br />Lease the Property. Lender may rent or lease the whole or any part of the Property for such term or terms and on such conditions as
<br />Lender may deem appropriate.
<br />Employ Agents. Lender may engage such agent or agents as Lender may deem appropriate, either in Lender's name or in Grantor's name,
<br />to rent and manage the Property, including the collection and application of Rents.
<br />Other Acts. Lender may do all such other things and acts with respect to the Property as Lender may deem appropriate and may act
<br />exclusively and solely in the place and stead of Grantor and to have all of the powers of Grantor for the purposes stated above.
<br />No Requirement to Act. Lender shall not be required to do any of the foregoing acts or things, and the fact that Lender shall have
<br />performed one or more of the foregoing acts or things shall not require Lender to do any other specific act or thing.
<br />APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with the Property shall be for Grantor's account and Lender
<br />may pay such costs and expenses from the Rents. Lender, in its sole discretion, shall determine the application of any and all Rents received by
<br />it; however, any such Rents received by Lender which are not applied to such costs and expenses shall be applied to the Indebtedness. All
<br />expenditures made by Lender under this Assignment and not reimbursed from the Rents shall become a part of the Indebtedness secured by this
<br />Assignment, and shall be payable on demand, with interest at the Note rate from date of expenditure until paid.
<br />FULL PERFORMANCE. If Grantor pays all of the Indebtedness when due and otherwise performs all the obligations imposed upon Grantor
<br />under this Assignment, the Note, and the Related Documents, Lender shall execute and deliver to Grantor a suitable satisfaction of this
<br />Assignment and suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the
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<br />WHEN RECORDED MAIL TO:
<br />NEBRASKA STATE BANK OF OMAHA
<br />3211 N 90TH STREET FOR RECORDEi'S USE ONLY
<br />OMAHA NE 68134
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<br />ASSIGNMENT OF RENTS
<br />THIS ASSIGNMENT OF RENTS dated December 10, 2001, is made and executed between MICHAEL G. 5
<br />FAHEY, A SINGLE PERSON WHOSE ADDRESS IS 9304 DAVENPORT ST OMAHA, NE 68114 and RICHARD J.
<br />COENEN, A MARRIED PERSON WHOSE ADDRESS IS 13022 HAMILTON CIR OMAHA, NE 68154. (referred to
<br />below as "Grantor ") and NEBRASKA STATE BANK OF OMAHA, whose address is 3211 N 90TH STREET,
<br />OMAHA, NE 68134 (referred to below as "Lender ").
<br />ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security interest in,
<br />and conveys to Lender all of Grantor's right, title, and interest in and to the Rents from the following
<br />described Property located in HALL County, State of Nebraska:
<br />LOT 2, FONNER FOURTH SUBDIVISION IN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA;
<br />TOGETHER WITH NON - EXLUSIVE EASEMENT RIGHTS CONTAINED IN, DECLARATION OF EASEMENT
<br />DATED AUGUST 12, 1998, FILED AUGUST 31, 1998 AS INSTRUMENT NO. 98- 108530, HALL COUNTY
<br />RECORDS.
<br />The Property or its address is commonly known as 1729 S LOCUST ST, GRAND ISLAND, NE 68801.
<br />THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL
<br />OBLIGATIONS OF GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED DOCUMENTS. THIS ASSIGNMENT IS GIVEN
<br />AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor shall pay to Lender all
<br />amounts secured by Lhis Assignment as they became due, and shall strictly perform all of Grantor's obligations under this Assignment. Unless
<br />and until Lender exercises its right to collect the Rents as provided below and so long as there is no default under this Assignment, Grantor may
<br />remain in possession and control of and operate and manage the Property and collect the Rents, provided that the granting of the right to collect
<br />the Rents shall 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 claims except as disclosed to
<br />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 convey the Rents to Lender.
<br />No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any 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 Rents except as provided
<br />in this Assignment.
<br />LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no default shall have
<br />occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby given and granted the following rights,
<br />powers and authority:
<br />Notice to Tenants. Lender may send notices to any and all tenants of the Property advising them of this Assignment and directing all Rents
<br />to be paid directly to Lender or Lender's agent.
<br />Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and receive from the tenants or from any
<br />other persons liable therefor, all of the Rents; institute and carry on all legal proceedings necessary for the protection of the Property,
<br />including such proceedings as may be necessary to recover possession of the Property; collect the Rents and remove any tenant or tenants
<br />or other persons from the Property.
<br />Maintain the Property. Lender may enter upon the Property to maintain the Property and keep the same in repair; to pay the costs thereof
<br />and of all services of all employees, including their equipment, and of all continuing costs and expenses of maintaining the Property in proper
<br />repair and condition, and also to pay all taxes, assessments and water utilities, and the premiums on fire and other insurance effected by
<br />Lender on the Property.
<br />Compliance with Laws. Lender may do any and all things to execute and comply with the laws of the State of Nebraska and also all other
<br />laws, rules, orders, ordinances and requirements of all other governmental agencies affecting the Property.
<br />Lease the Property. Lender may rent or lease the whole or any part of the Property for such term or terms and on such conditions as
<br />Lender may deem appropriate.
<br />Employ Agents. Lender may engage such agent or agents as Lender may deem appropriate, either in Lender's name or in Grantor's name,
<br />to rent and manage the Property, including the collection and application of Rents.
<br />Other Acts. Lender may do all such other things and acts with respect to the Property as Lender may deem appropriate and may act
<br />exclusively and solely in the place and stead of Grantor and to have all of the powers of Grantor for the purposes stated above.
<br />No Requirement to Act. Lender shall not be required to do any of the foregoing acts or things, and the fact that Lender shall have
<br />performed one or more of the foregoing acts or things shall not require Lender to do any other specific act or thing.
<br />APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with the Property shall be for Grantor's account and Lender
<br />may pay such costs and expenses from the Rents. Lender, in its sole discretion, shall determine the application of any and all Rents received by
<br />it; however, any such Rents received by Lender which are not applied to such costs and expenses shall be applied to the Indebtedness. All
<br />expenditures made by Lender under this Assignment and not reimbursed from the Rents shall become a part of the Indebtedness secured by this
<br />Assignment, and shall be payable on demand, with interest at the Note rate from date of expenditure until paid.
<br />FULL PERFORMANCE. If Grantor pays all of the Indebtedness when due and otherwise performs all the obligations imposed upon Grantor
<br />under this Assignment, the Note, and the Related Documents, Lender shall execute and deliver to Grantor a suitable satisfaction of this
<br />Assignment and suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the
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