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ASSIGNMENT OF RENTS
<br />(Continued) 200502679 page 4
<br />OF FORECLOSURE ON GRANTOR'S BEHALF AND ON BEHALF OF EACH AND EVERY PERSON, EXCEPT JUDGMENT CREDITORS OF
<br />GRANTOR, ACQUIRING ANY INTEREST IN OR TITLE TO THE PROPERTY SUBSEQUENT TO THE DATE OF THIS ASSIGNMENT.
<br />DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Assignment. Unless
<br />specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America.
<br />Words and terms used in the singular shall include the plural, and the plural shall include the singular, as the context may require. Words
<br />and terms not otherwise defined in this Assignment shall have the meanings attributed to such terms in the Uniform Commercial Code:
<br />Assignment. The word "Assignment" means this ASSIGNMENT OF RENTS, as this ASSIGNMENT OF RENTS may be amended or
<br />modified from time to time, together with all exhibits and schedules attached to this ASSIGNMENT OF RENTS from time to time.
<br />Borrower. The word "Borrower" means Dale M. Schwader and Peggy M. Schwader.
<br />Default. The word "Default" means the Default set forth in this Assignment in the section titled "Default ".
<br />Event of Default. The words "Event of Default" mean any of the events of default set forth in this Assignment in the default section
<br />of this Assignment.
<br />Grantor. The word "Grantor" means Dale M. Schwader and Peggy M. Schwader,
<br />Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including
<br />without limitation a guaranty of all or part of the Note.
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note
<br />or Related Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note
<br />or Related Documents and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses incurred by
<br />Lender to enforce Grantor's obligations under this Assignment, together with interest on such amounts as provided in this
<br />Assignment. Specifically, without limitation, Indebtedness includes the future advances set forth in the Future Advances provision of
<br />this Assignment, together with all interest thereon.
<br />Lease. The word "Lease" means the lease of the Property dated February 3, 2005, between Landlord, as defined in Related
<br />Documents, and Grantor.
<br />Lender. The word "Lender" means Commercial Federal Bank, a Federal Savings Bank, its successors and assigns.
<br />Note. The word "Note" means the promissory note dated March 17, 2005, in the original principal amount of
<br />$2,800,000.00 from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of,
<br />consolidations of, and substitutions for the promissory note or agreement.
<br />Property. The word "Property" means all of Grantor's right, title and interest in and to all the Property as described in the
<br />"Assignment" section of this Assignment.
<br />Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental
<br />agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other
<br />instruments, agreements and documents, whether now or hereafter existing, executed in connection with the Indebtedness,
<br />Rents. The word "Rents" means all of Grantor's present and future rights, title and interest in, to and under any and all present and
<br />future leases, including, without limitation, all rents, revenue, income, issues, royalties, bonuses, accounts receivable, cash or security
<br />deposits, advance rentals, profits and proceeds from the Property, and other payments and benefits derived or to be derived from such
<br />leases of every kind and nature, whether due now or later, including without limitation Grantor's right to enforce such leases and to
<br />receive and collect payment and proceeds thereunder.
<br />THE UNDERSIGNED ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS ASSIGNMENT. THIS DOCUMENT IS EXECUTED
<br />ON MARCH 17, 2005.
<br />GRANTOR:
<br />Dale M. Schwader
<br />eggy ad
<br />INDIVIDUAL ACKNOWLEDGMENT
<br />STATE OF 1
<br />► SS
<br />COUNTY OF V / `'► �4�� 1
<br />On this day before me, the undersigned Notary Public, personally appeared Dale M. Schwader and Peggy M. Schwader, to me known to be
<br />the individuals described in and who executed the ASSIGNMENT OF RENTS, and a knowledged that they signed the Assignment as their
<br />free and voluntary act and deed, for the uses and p rr s therein mentioned.
<br />Given under my hand and official seal this 17 rr'l day (of 20 0
<br />By
<br />Notary Public in and r e State of
<br />MARY WIGNES 3'' Residing at l/
<br />S f .�
<br />1 �olary p blIC , D� My commission expires _
<br />LASER PRO Lending, v— 5,25.2o.wO cnp,. H.H-d Finenciei Scl--, Inc. 1997, 2W5, Ail Riphta R,—.d. - NEIKS U: \CFA \APL \G14.FC TR -21317 PR -57
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