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200207523 ASSIGNMENT OF LEASES RENTS AND INCOME P KNOW ALL MEN BY THESE PRESENTS that _Ro prt M All F �y?-� ar n chi A Neh t Limi ed Parr hin hereinafter called the Borrower, for and in consideration of a loan of by City National Rank a m .._. $50,000.00 nUuureu oy a first mortgage /Deed of Trust held by City National Bank and Trust Company , and other good and valuable consider- ation, the receipt whereof is hereby acknowledged, does, hereby assign, transfer and set over to the Lender, its successors or assigns, as additional security for the payment of aforesaid mortgage /Deed of Trust and any delinquencies thereon, for so long as aforesaid loan or delinquencies thereon, or any part thereof remains unpaid, the rents and income accruing upon the following described properties, located a in the City of Grand Island —Hall to -wit: Count n Nehraaka Lot 7, Meadowlark West Fourth Subdivision, Grand Island, Hall County, Nebraska And the said Borrower hereby authorizes and empowers the said Lender, its or their successors and assigns, by its or their authorized agents and attorneys, to let for said Borrower and rent the above described premises or any part thereof, and collect and receipt for said rent, either monthly, quarterly, or yearly, as it or they may see fit, and in default of the payment of said rent or any part thereof to proceed in its or their name by suit or suits at law or equity for the recovery thereof in such manner as it or they shall deem fit. e This assignment of leases, rents and income is being made for the express purpose of having the rent collected hereunder applied to payments on the loan, and delinquencies thereon above described as agreed by Borrower to be paid on the note executed by Borrower to Lender and the real estate mortgage /Deed of Trust on the above described real estate securing said note. Lender, its successors or assigns, may, in its or their discretion use the rents so far as necessary for the purpose of making such repairs upon the premises as in its or their judgment may be proper and may use said rents so far as necessary for the payment of insurance premiums and taxes on said premises, or any other payment to be made by Borrower under the terms of the note, mortgage or Deed of Trust above mentioned, the balance to be applied upon the payment of principal and interest on said loan. This assignment of rents is intended to apply only in case of the default of the undersigned in the payments specified in the above note, mortgage /Deed of Trust or any delinquencies thereon. In such case Lender, its or their successors or assigns, may waive collection thereof for spaces of time, at its or their option, but such waiver or failure to collect hereunder shall not be construed to be a waiver of the right to collect any subsequent installment of rent. The delivery of a copy of this instrument to any tenant or tenants occupying said premises or any part thereof shall be sufficient to require said tenants to pay said rent to Lender, its or their successors or assigns, until further notice of the amounts delinquent on aforesaid loan have been paid. When said loan is paid in full, a release of the aforesaid mortgage or reconveyance of the Deed of Trust shall be deemed to be a release of this assignment without further evidence thereof. Dated this 75th day of July , 42002 Robert M.. Allen Family Limited Partnership Bi: �W - LL// Robert M. Allen, Managing Partner