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<br /> ■u■� Assignments Of Leases ` ��
<br /> N��BANKS An d Ren ts `
<br /> II�II� � c�
<br /> (Nebraskal \
<br /> This Assignment is made this Auc�ust 17, 1999 , between
<br /> D_& D Investments, A Nebraska Partnership
<br /> (the "Assignor"), a/nl General Partnership and
<br /> Norwest Bank Nebraska. National Association
<br /> (the "Assignee"J, a national banking association.
<br /> � The Assignor has executed and delivered to the Assignee its promissory note dated August 17, 1999 in the original
<br /> principal amount of S 248, 000.00 and any extensions, �enewals or modifications thereof(the "Note"1.
<br /> � The Assignor has executed and delivered to the Assignee its guaranty dated in favor of the Assignee for
<br /> the benefit of
<br /> Ithe "Bonower")in the amount of S and any replacements or substitutions thereof/the "Guaranty"J.
<br /> To secure payment of the obligation described above (the "Obligation"1, the Assignor has executed and delivered to the Assignee a
<br /> deed of trust("Deed of Trust"/dated August 17, 1999 , covering certain property l"Tiust Prope�ty"/including, among other things,
<br /> the real estate described in the attached 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 Assignmen;as a condition to making oi accepting the Obligation.
<br /> ACCORDINGLY, in consideration of the p�emrses and other good and valuable consideration, the Assignor does hereby grant, transfer
<br /> and assign to ihe Assignee all of the Assignor's right, title and interest in and to (i)any and all present or future leases or tenancies, whether
<br /> written or oral, cove�ing or affecting any or all of the Trust Properfy, togethe�with any and all extensions, modifications and renewals the�eof
<br /> leach, a "Lease"and collectively, the "Leases"1, and(iil all�ents,profits and othe�income or payments of any kind due or payable or to
<br /> become due or payable to the Assignor as ihe result of any use,possession or occupancy of all o�any portion of the Trust Property or as the
<br /> result of the use of o�/ease of any personal p�operty constituting a part of the T�ust P�operty, whether accruing before or after foreclosure of
<br /> the Deed of Trust or during the period of redemption thereof("Rents"l, a!l for the purpose of securing(a1 paymeni of all indebtedness
<br /> evidenced by the Obligation and all other sums secured by the Deed of Tiust,•and(bl perfo�mance and discharge of each and eve�y
<br /> obligation, covenant and agreement of the Assigno�contained herein and in the Deed of Trust.
<br /> The Assigno�wanants and covenants that Assignor is and will remain ihe absolute owner of the Rents and Leases free and clear of all
<br /> liens and encumbrances other than the lien granted 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 person; that Assignor has the right under applicable law, undei the Leases and
<br /> otherwise to execute and delive�this Assignment and to keep and perfo�m a/l obligations hereunder,•and that Assignor will wanant and
<br /> defend the Leases and Rents against a1!adverse claims, whether now existing or later arising.
<br /> The Assignor further covenants and ag�ees as fol%ws:
<br /> 1. PERFORMANCE OF LEASES. The Assignor will faithfully abide by,perform and discharge each and eve�y obligation, covenant and
<br /> agreement which it now is or he�eafier becomes liable to observe or perfo�m under any present or future Lease, and, at the Assignor's
<br /> sole cost and expense, will enforce or secure the performance of each and every obligation, under each and every Lease. The Assignor
<br /> will observe and comply with all p�ovisions of law applicable to the operation and ownership of the Trust Prope�ty. The Assignor will give
<br /> prompt written notice ro the Assignee of any notice of defau/t on the part of ihe Assignor wiih respect to the Lease received from the
<br /> tenant thereunder, and will also ai Assignor's sole cost and expense, appear in and defend any action or proceeding a�ising 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 will not lease or otherwise permit the use of al/o�any portion of the T�ust Property for rent that is be%w the fair market
<br /> rent for such property.
<br /> 2. COLLECTION OF RENTS lN ADVANCE. The Assignor wrll not collect or accept any Rents for the use or occupancy of fhe Trust Property
<br /> for more than one month in advance. Security deposits shall noi be deemed Rents for purposes of this paragraph.
<br /> 3. PROTECTING THE SECURITY OF THIS ASSIGNMENT. Should the Assignoi fail to perform or obse�ve any covenant or agreement
<br /> contained in this Assignment, then the Assignee may(but shall have no obligation tol make or do the same in such manner and to such
<br /> extent as the Assignee may deem appropriate to protect the secu�ity hereof. The rights of the Assignee hereunder sha//inc/ude but not
<br /> be limited to li/ the right to appear in and defend any aciion or proceeding pu�porting to affect the security hereof or the rights or powers
<br /> of the Assignee, (ii/ the�ight to perform and discharge each and every ob/igation, covenant and agreement of the Assignor contained in
<br /> the Lease, and liii) the right, in exe�cising any of the othe�rights gianted hereunder, to pay necessary costs and expenses, employ
<br /> counsel and pay reasonable atto�neys'fees. The Assignor shall pay on demand all sums expended by the Assignee pursuant to this
<br /> paragraph, togeiher with interest thereon at the rate stated by the Note or the rate stated in the most recent obligation covered by the
<br /> Guaranty, and the same shall be added to the Obligation secured hereby and by ihe Deed of Trust.
<br /> 4. PRESENT ASSIGNMENT. This Assrgnment shall constitute a perfected, absolute and present assignment;provided that the Assignor shall
<br /> have the�ight to co//ect a!/of the Rents /subject to the Secrion entit/ed "Co//ection of Rents in Advance")and to retain, use and enjoy the
<br /> same until an Event of Default occurs under the Deed of Tiust or the Assignor breaches any wananty o�covenant contained in this
<br /> Assignmeni. Any Rents acc�uing prior to an Event of Defau/t under the Deed of Trust but paid thereafter sha//be paid to the Assignee.
<br /> 5. SURVIVAL OF OBLIGATION. This Assignment is given as security in addition to the Deed of T�ust. All of the Assignor's obligations under
<br /> the Deed of T�ust and this Assignment sha!l su�vive forec%sure of the Deed of Tiust. 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 Eveni of Default fiom occurring under
<br /> the Deed of Trust during the period of redemption following forec%sure of the Deed of Tiust.
<br /> 6. DEFAULT,•REMEDIES. Upon the occurrence of any Event of Default specified in the Deed of Trust o�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 sole discretion deems app�opriate (il enter upon, manage and
<br /> operate the Trust Property or retain the services of one or more independent contractors to manage and operate a//or any pa�t of the
<br /> Trust Property; (ii)make, enforce, modify and accept surrender of the Leases; /iiil obtain or evict tenants, collect, receive, sue for, fix,
<br /> modify, adjust or comp�omise the Rents, and enforce all rights of the Assignor under the Leases;and(iv)perform any and all other
<br /> acts that may be necessary or prope�to protect the security of thrs Assignment.
<br /> b) with or without exercising the rights set forth in subparagraph (al above,give or require the Assignor to give notice to any or all
<br /> tenants under the Leases authorizing and directiny them to pay al/Rents under the Leases direct/y to the Assignee;and
<br /> C� without reoard to anv wa.sre_ arlern�acv nf rhP cacnrrtv nr enhmnrv nf thn d ccinnnr �nnh.f.sAa �.....,;..s....,..•..s.. .,.....,,,,....s.a,.
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