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<br />WHEN RECORDED MAIL 70: °m to
<br />Comm"... d., N.A. V S
<br />WIMha ambling Goner x
<br />50 N. Mn n
<br />WICAIte,
<br />as 67201 FOR RECOROEA'S IISE ONLY C*
<br />ASSIGNMENT OF RENTS
<br />THIS ASSIGNMENT OF RENTS dated May 6, 2002, is made and executed between 4503 L.L.C., whose`
<br />address is 4503 E. 47th Street South, Wichita, KS 67210 -1651 (referred to below ea 'Grantor-) and a
<br />Commerce Bank, N.A., whose address Is 150 N. Main, Wichita, KS 67202 (referred to below as ' Lendw*).
<br />ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security Interest in, and
<br />conveys to Lender all of Grantor's right, title, and Interest in and to the Rents from the following described
<br />Property located in Hall County, State of Nebraska:
<br />Lot Five (5), Grand Island Industrial Foundation Subdivision, Hall County, Nebraska.
<br />The Property or its address is commonly known as 3826 Arch Ave., Grand Island, NE 68603 -5003.
<br />CROSS- COLLATERALIZATION. In addition to the Note, this Assignment seal all obligations, debts and liabilities, plus artereat thrsun,
<br />of Grantor to Lender, or any one or more of them, as well as all claims by Leader against Grantor or any one or more of them, whether
<br />now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluary or otherwise, whether due m
<br />not due, direct o indirect, determined or undetermined, absolute or contingent liquidated or unliquidated whether Grantor may be lubl.
<br />individually or jointly with others, whether affiliated as guarantor, surety, accommodation party or otherwise, and whether recovery upon
<br />such ion-rots m v be or hereafter mey become barred by any statute of limitations, end whether the obligation to rape, such amount.
<br />may be or hereafter may became otherwise unenforceable.
<br />FUTURE ADVANCES. Specifically, without : imiation, this Assignment secures, an addition to the amounts specified Ise the Note, all future
<br />amcOMs Lender In Ile discretion may lean to Grantor, together with all imer6m thereon.
<br />THIS A.SS!ONMENT IS GIVEN TO SECURE 11) PAYMENT OF THE INDEBTEDNESS AND 121 PERFORMANCE OF ANY AND ALL
<br />OBLIGATIONS OF GRANTOR UNDER THE NOTE. THIS ASSIGNMENT, AND THE RELATED DOCUMENTS. THIS ASSIGNMENT IS OWN
<br />AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except ea otherwise provided in this Assignment or eny Related Doeumms, Greater shall pay, to Leader
<br />ell amounts .... ad by this Assignment as they become due, end shell strictly perform all of Grantor's obligations under this Assignment.
<br />Unless and until Lender exercises its right to collect the Rents as provided below and so long as there is no default under this Assignment,
<br />Grantor may remain in possession and control of and operate and manage the Property and collect the Rents, provided that the panting of
<br />the right to collect 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 right., loons, liens, encumbrances, and claims except as
<br />disclosed to and accepted by Lender in writing.
<br />Right to Assign. clamor has the full right. power and authority to enter into this Assignment and to assign and cenvey the Renv to
<br />Lander.
<br />No Prior Assignment Grantor has not previously assigned or conveyed the Rents to any other person by my instrument now in force.
<br />No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of my of Grantor's rights in the pmts except as
<br />provided in his Assignment.
<br />LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Leader sheer have the right at any tine, and soon 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
<br />rights, powers end authority:
<br />Notice to Tenants. Lands may send notices to any and all lments of the Property advising them of this Assignment and tasseling all
<br />Rem. to be paid directly to Lender or Lender'. egand.
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