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<br />COLLATERAL ASSIGNMENT OF LEASES AND RENTS
<br />// -5o
<br />FOR AND IN CONSIDERATION of the sum of One Hundred Seventy -Five Thousand and
<br />00 /100 Dollars ($175,000) loaned or to be loaned to the undersigned, Northwest Crossings Limited
<br />Liability Company, hereinafter referred to as "Assignor ", does hereby sell, assign and transfer unto
<br />HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter
<br />referred to as "Assignee ", all of Assignor's right, title and interest in and to all Leases, now or
<br />hereafter existing, in respect to that real estate legally described as:
<br />Lots One (1), Two (2), and Three (3), Setag Subdivision, in the City of Grand Island,
<br />Hall County, Nebraska
<br />Assignor by this Assignment of Leases and Rents specifically assigns unto Assignee all rights
<br />to collect and receive all of the rents, income, receipts, revenues, issues, profits and other
<br />sums of money that may now and at any time hereafter become due and payable to Assignor
<br />under the terms of the Leases (such sums being herein referred to collectively as the Rents),
<br />arising or issuing from or out of the real estate hereinabove described, or any portion thereof,
<br />including, without limitation, minimum rents, percentage rents, deficiency rents and
<br />liquidated damages following default, all proceeds payable under any policy of insurance
<br />covering loss of rents resulting from untenantability caused by destruction or damage to the
<br />real estate and all of Assignor's rights to recover monetary amounts from any lessee in
<br />bankruptcy, including, without limitation, rights of recovery for use and occupancy and
<br />damage claims arising out of lease defaults, including rejections, under the Federal
<br />Bankruptcy Code. It is further the intent hereby that any and all guaranties of payment of
<br />Rents are hereby also assigned by Assignor unto Assignee.
<br />SAID ASSIGNMENT BY THE UNDERSIGNED ASSIGNOR IS MADE SUBJECT
<br />TO THE FOLLOWING TERMS AND CONDITIONS:
<br />1. This Assignment is given to secure the payment of the indebtedness described
<br />above and as security of such other sums as may be hereafter advanced by Assignee to, or for
<br />the benefit of, Assignor; provided, however, that in the event all indebtedness owing from
<br />Assignor to Assignee is well and truly paid, then this Assignment shall be void, otherwise to
<br />remain in full force and effect.
<br />2. It is the intention and agreement of Assignor that this Assignment shall also
<br />secure any future advances made to Assignor by Assignee and any and all indebtedness in
<br />addition to the amount stated above which said Assignor may owe to said Assignee, however
<br />evidenced, whether by note, book, account or otherwise. The undersigned also agrees that
<br />this assignment shall secure all costs, charges and expenses reasonably incurred or paid by
<br />Assignee, including reasonable attorney fees, because of the failure of the undersigned to
<br />comply with the terms of the Notes evidencing such indebtedness or this Assignment.
<br />3. So long as Assignor shall note be in default of the payments due to Assignee
<br />in respect to indebtedness owing or in the performance of the requirements of any instrument
<br />of security which may secure such indebtedness, Assignor shall be entitled to collect and
<br />retain for his benefit all rents, from time to time accruing and received in respect to the Real
<br />Estate Lease herein assigned as security.
<br />4. Upon default in the payment of any sum due in respect to the indebtedness
<br />secured hereby or in the performance of the requirements of any instrument of security which
<br />may secure such indebtedness, Assignee may give immediate notice of this Assignment to the
<br />Tenant under such Lease and shall, from and after the date of such notice, be authorized to
<br />Page 1 of 2
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<br />// -5o
<br />FOR AND IN CONSIDERATION of the sum of One Hundred Seventy -Five Thousand and
<br />00 /100 Dollars ($175,000) loaned or to be loaned to the undersigned, Northwest Crossings Limited
<br />Liability Company, hereinafter referred to as "Assignor ", does hereby sell, assign and transfer unto
<br />HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter
<br />referred to as "Assignee ", all of Assignor's right, title and interest in and to all Leases, now or
<br />hereafter existing, in respect to that real estate legally described as:
<br />Lots One (1), Two (2), and Three (3), Setag Subdivision, in the City of Grand Island,
<br />Hall County, Nebraska
<br />Assignor by this Assignment of Leases and Rents specifically assigns unto Assignee all rights
<br />to collect and receive all of the rents, income, receipts, revenues, issues, profits and other
<br />sums of money that may now and at any time hereafter become due and payable to Assignor
<br />under the terms of the Leases (such sums being herein referred to collectively as the Rents),
<br />arising or issuing from or out of the real estate hereinabove described, or any portion thereof,
<br />including, without limitation, minimum rents, percentage rents, deficiency rents and
<br />liquidated damages following default, all proceeds payable under any policy of insurance
<br />covering loss of rents resulting from untenantability caused by destruction or damage to the
<br />real estate and all of Assignor's rights to recover monetary amounts from any lessee in
<br />bankruptcy, including, without limitation, rights of recovery for use and occupancy and
<br />damage claims arising out of lease defaults, including rejections, under the Federal
<br />Bankruptcy Code. It is further the intent hereby that any and all guaranties of payment of
<br />Rents are hereby also assigned by Assignor unto Assignee.
<br />SAID ASSIGNMENT BY THE UNDERSIGNED ASSIGNOR IS MADE SUBJECT
<br />TO THE FOLLOWING TERMS AND CONDITIONS:
<br />1. This Assignment is given to secure the payment of the indebtedness described
<br />above and as security of such other sums as may be hereafter advanced by Assignee to, or for
<br />the benefit of, Assignor; provided, however, that in the event all indebtedness owing from
<br />Assignor to Assignee is well and truly paid, then this Assignment shall be void, otherwise to
<br />remain in full force and effect.
<br />2. It is the intention and agreement of Assignor that this Assignment shall also
<br />secure any future advances made to Assignor by Assignee and any and all indebtedness in
<br />addition to the amount stated above which said Assignor may owe to said Assignee, however
<br />evidenced, whether by note, book, account or otherwise. The undersigned also agrees that
<br />this assignment shall secure all costs, charges and expenses reasonably incurred or paid by
<br />Assignee, including reasonable attorney fees, because of the failure of the undersigned to
<br />comply with the terms of the Notes evidencing such indebtedness or this Assignment.
<br />3. So long as Assignor shall note be in default of the payments due to Assignee
<br />in respect to indebtedness owing or in the performance of the requirements of any instrument
<br />of security which may secure such indebtedness, Assignor shall be entitled to collect and
<br />retain for his benefit all rents, from time to time accruing and received in respect to the Real
<br />Estate Lease herein assigned as security.
<br />4. Upon default in the payment of any sum due in respect to the indebtedness
<br />secured hereby or in the performance of the requirements of any instrument of security which
<br />may secure such indebtedness, Assignee may give immediate notice of this Assignment to the
<br />Tenant under such Lease and shall, from and after the date of such notice, be authorized to
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