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<br /> ASSIGNMENT OF LEASES AND RENTS
<br /> THIS ASSIGNMENT �----•
<br /> OF LEASES AND RENTS ("AssignmenY') is made as of the 29th day of OCtOb@I' ,
<br /> 1999 , by and between the assignor, RUdOIf F. Plate and Jeannice R. Plate � HUSBAND AND WIFE, AND TIM ��
<br /> C. PLATE. AN UNMARRIED PERSON, (herein "Borrower", whether one or more), whose mailing address is�'
<br /> 2209 East Stollev Park Road Grand Island NE 68801 ; and the assignee,`'-
<br /> The Overland National Bank of Grand Island , (herein ^Lender"�, wnose
<br /> ma�i��9 address �s 304 West Third Street Grand Island, NE 68801 . In
<br /> consideration the advancing of credit by Lender to or for the benefit of Borrower, and for other good and valuable consideration, Assignor
<br /> agrees as follows:
<br /> 1. With respect to that certain real property described as follows (the "Real Property"):
<br /> SEE ATTACHED EXHIBIT "A"
<br /> .
<br /> of which Borrower (or one or more of the persons and/or entitles designated herein as Borrower) is the owner, Borrower does hereby
<br /> absolutely and irrevocably bargain, sell, transfer, assign, grant a security interest in, convey, set over and deliver unto Lender, its successors
<br /> and assigns:
<br /> (a) the right of the immediate use and possession of said Real Property and all fbctures, equipment, appliances and other items of
<br /> personal property available for the use of tenants of or the operation of said Real Property now or hereafter located on said Real
<br /> Property (collectively the "Personal Property") to the exclusion of Borrower and its successors, assigns and agents;
<br /> (b) all the rents, issues, profits and avails of all of the foregoing, whether now due or hereafter to become due (without limitation, to
<br /> include all security deposits or advance rent paid to, held by or for Borrower);
<br /> (c) all leases and occupancy agreements, now or hereafter executed, affecting said Real Property, including without limitation the leases,
<br /> if any, described in Exhibit "A" attached hereto and incorporated herein, together with any and all extensions, renewals and modifications
<br /> thereof;
<br /> (d) all guaranty agreements now or hereafter executed, pertaining to (b) or (c) above;
<br /> (e) all of Borrower's right, title and interest in and to all claims and rights to the payment of money at any time arising in connection
<br /> with any rejection or breach of any of the leases by any lessee thereunder or trustee of any such lessee under Section 365 of the
<br /> Bankruptcy Code, 11 U.S.C. 365, including, without limitation, all rights to recover damages arising out of such breach or rejection, all
<br /> rights to charges payable by such lessee or trustee in respect of the leased premises following the entry of an order for relief under the
<br /> Bankruptcy Code in respect of such lessee and all rentals and other charges outstanding under the lease as of the date of entry of
<br /> such order for relief.
<br /> 2. Lender may, in its own name, or at Lender's option, as attorney in fact for Borrower and in Borrower's name and stead with full
<br /> power of substitution and with the right to exercise the rights and powers herein contained without prior judicial hearing or notice to
<br /> Borrower, both of which are hereby specifically waived:
<br /> (a) collect any and all of the rents, issues, profits and avails of said Real Property and Personal Property and all other moneys and
<br /> rights to receive money assigned hereby, using such measures as Lender may deem necessary or appropriate in the circumstances;
<br /> (b) enter into and hold, occupy, possess and enjoy said Real Property and Personal Property;
<br /> (c) eject tenants, fill vacancies, make, cancel, modify and enforce leases of said Real Property and Personal Property or any part thereof
<br /> upon such terms as Lender may deem appropriate;
<br /> (d) obtain, cancel and modify any policy of insurance covering all or any part of said Real Property or Personal Property, adjust any
<br /> loss or damage thereunder and enforce any rights of Borrower thereunder;
<br /> (e) bring suit for, compromise and settle for, any taking of all or any portion of said Real Property for public purposes or any claim for
<br /> damages thereto;
<br /> F11385.LMG (6/98) Page 1 of 4
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