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DATE AND PARTIES. The date of this Assignment of Leases and Rents (Assignment) is August 13, 2004. The
<br />parties and their addresses are:
<br />ASSIGNOR:
<br />LE MERIDIEN, L.L.C.
<br />A Nebraska Limited Liability Company
<br />908 N Howard
<br />Grand Island, Nebraska 68803
<br />LENDER:
<br />PLATTE VALLEY STATE BANK &TRUST COMPANY
<br />Organized and existing under the laws of Nebraska
<br />1451 North Webb Road
<br />Grand Island, Nebraska 68803
<br />TIN: 47- 0343902
<br />1. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Assignment at any one time will
<br />not exceed $ 1,560,000.00. This limitation of amount does not include interest and other fees and charges
<br />validly made pursuant to this Assignment. Also, this limitation does not apply to advances made under the
<br />terms of this Assignment to protect Lender's security and to perform any of the covenants contained in this
<br />Assignment.
<br />2. SECURED DEBTS. This Assignment will secure the following Secured Debts:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note or other agreement, No. 281706 -100, dated August 13, 2004, from
<br />Assignor to Lender, with a loan amount of $ 1,560,000.00. One or more of the debts secured by this
<br />Assignment contains a future advance provision.
<br />B. All Debts. All present and future debts from Assignor to Lender, even if this Assignment is not
<br />specifically referenced, or if the future debt is unrelated to or of a different type than this debt. If more than
<br />one person signs this Assignment, each agrees that it will secure debts incurred either individually or with
<br />others who may not sign this Assignment. Nothing in this Assignment constitutes a commitment to make
<br />additional or future loans or advances. Any such commitment must be in writing. In the event that Lender
<br />fails to provide any required notice of the right of rescission, Lender waives any subsequent security interest
<br />in the Assignor's principal dwelling that is created by this Assignment. This Assignment will not secure any
<br />debt for which a non - possessory, non - purchase money security interest is created in "household goods" in
<br />connection with a "consumer loan," as those terms are defined by federal law governing unfair and deceptive
<br />credit practices. This Assignment will not secure any debt for which a security interest is created in "margin
<br />stock" and Lender does not obtain a "statement of purpose," as defined and required by federal law
<br />governing securities.
<br />C. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this
<br />Assignment.
<br />3. ASSIGNMENT OF LEASES AND RENTS. For good and valuable consideration, the receipt and sufficiency of
<br />which is acknowledged, and to secure the Secured Debts and Assignor's performance under this Assignment,
<br />Assignor assigns, grants and conveys to Lender as additional security all the right, title and interest in the
<br />following (Property).
<br />A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for
<br />the use and occupancy of the Property, including but not limited to any extensions, renewals, modifications
<br />or replacements (Leases).
<br />B. Rents, issues and profits, including but not limited to security deposits, minimum rents, percentage rents,
<br />additional rents, common area maintenance charges, parking charges, real estate taxes, other applicable
<br />taxes, insurance premium contributions, liquidated damages following default, cancellation premiums, "loss
<br />of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, contract rights,
<br />general intangibles, and all rights and claims which Assignor may have regarding the Property (Rents).
<br />C. The term Property as used in this Assignment shall include the following described real property:
<br />Le Meridien, L.L.C.
<br />Nebraska Assignment of Leases and Rents Initials
<br />NE/ 4XX2 8 3 3 30007 2 5 20000436402008 1 3 04Y ©1996 Bankers Systems, Inc., St. Cloud, MN ExJSE-: Page 1
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<br />ASSIGNMENT OF LEASES AND
<br />RENTS
<br />DATE AND PARTIES. The date of this Assignment of Leases and Rents (Assignment) is August 13, 2004. The
<br />parties and their addresses are:
<br />ASSIGNOR:
<br />LE MERIDIEN, L.L.C.
<br />A Nebraska Limited Liability Company
<br />908 N Howard
<br />Grand Island, Nebraska 68803
<br />LENDER:
<br />PLATTE VALLEY STATE BANK &TRUST COMPANY
<br />Organized and existing under the laws of Nebraska
<br />1451 North Webb Road
<br />Grand Island, Nebraska 68803
<br />TIN: 47- 0343902
<br />1. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Assignment at any one time will
<br />not exceed $ 1,560,000.00. This limitation of amount does not include interest and other fees and charges
<br />validly made pursuant to this Assignment. Also, this limitation does not apply to advances made under the
<br />terms of this Assignment to protect Lender's security and to perform any of the covenants contained in this
<br />Assignment.
<br />2. SECURED DEBTS. This Assignment will secure the following Secured Debts:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note or other agreement, No. 281706 -100, dated August 13, 2004, from
<br />Assignor to Lender, with a loan amount of $ 1,560,000.00. One or more of the debts secured by this
<br />Assignment contains a future advance provision.
<br />B. All Debts. All present and future debts from Assignor to Lender, even if this Assignment is not
<br />specifically referenced, or if the future debt is unrelated to or of a different type than this debt. If more than
<br />one person signs this Assignment, each agrees that it will secure debts incurred either individually or with
<br />others who may not sign this Assignment. Nothing in this Assignment constitutes a commitment to make
<br />additional or future loans or advances. Any such commitment must be in writing. In the event that Lender
<br />fails to provide any required notice of the right of rescission, Lender waives any subsequent security interest
<br />in the Assignor's principal dwelling that is created by this Assignment. This Assignment will not secure any
<br />debt for which a non - possessory, non - purchase money security interest is created in "household goods" in
<br />connection with a "consumer loan," as those terms are defined by federal law governing unfair and deceptive
<br />credit practices. This Assignment will not secure any debt for which a security interest is created in "margin
<br />stock" and Lender does not obtain a "statement of purpose," as defined and required by federal law
<br />governing securities.
<br />C. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this
<br />Assignment.
<br />3. ASSIGNMENT OF LEASES AND RENTS. For good and valuable consideration, the receipt and sufficiency of
<br />which is acknowledged, and to secure the Secured Debts and Assignor's performance under this Assignment,
<br />Assignor assigns, grants and conveys to Lender as additional security all the right, title and interest in the
<br />following (Property).
<br />A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for
<br />the use and occupancy of the Property, including but not limited to any extensions, renewals, modifications
<br />or replacements (Leases).
<br />B. Rents, issues and profits, including but not limited to security deposits, minimum rents, percentage rents,
<br />additional rents, common area maintenance charges, parking charges, real estate taxes, other applicable
<br />taxes, insurance premium contributions, liquidated damages following default, cancellation premiums, "loss
<br />of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, contract rights,
<br />general intangibles, and all rights and claims which Assignor may have regarding the Property (Rents).
<br />C. The term Property as used in this Assignment shall include the following described real property:
<br />Le Meridien, L.L.C.
<br />Nebraska Assignment of Leases and Rents Initials
<br />NE/ 4XX2 8 3 3 30007 2 5 20000436402008 1 3 04Y ©1996 Bankers Systems, Inc., St. Cloud, MN ExJSE-: Page 1
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