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f1 r- ~ (I) ~ ~ o~ ~ 0(1) c:::::> ~~ c.n o -j CJ c::: 1'-" fir ;;0 :z:-I ~a m ~~ ~ -1m "'TI C":> -<0 C ........ o ." ca;- n Z ~r Ul "'z :I: n 0 Ul=r )> !or :I: fn rn lJ l> co ~g ,n (f) 3 r- ;:0 '" ::r: .l> .-l: (j) ~~ ;::><; l> C> .................. co en ..... (j) CD :z 0 I\.J CSl CSl CJl ........ I\.J I\.J (j) c.o WHEN RECORDED MAil TO: Five Points Bank North Branch 2015 North Broadwell Grand Island, NE 68803 FOR RECORDER'S USE ONLY ASSIGNMENT OF RENTS ~'\ THIS ASSIGNMENT OF RENTS dated December 14, 2005, is made and executed between J G INVESTMENTS ~ llC; A NEBRASKA LIMITED LIABILITY COMPANY (referred to below as "Grantor") and Five Points Bank, ~ whose address is 2015 North Broadwell, Grand Island, NE 68803 (referred to below as "lender"). ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security interest in, and conveys to lender all of Grantor's right, title, and interest in and to the Rents from the following described Property located in HAll County, State of Nebraska: lOT ONE (1), RICHMOND SECOND SUBDIVISION IN THE CITY OF GRAND ISLAND, HAll COUNTY, NEBRASKA The Property or its address is commonly known as 611 N DIERS AVE, GRAND ISLAND, NE 68803. The Property tax identification number is 400388995. THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL OBLIGATIONS OF BORROWER AND GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED DOCUMENTS. THIS ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: GRANTOR'S WAIVERS. Grantor waives all rights or defenses arising by reason of any "one action" or "anti-deficiency" law, or any other law which may prevent Lender from bringing any action against Grantor, including a claim for deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by exercise of a power of sale. BORROWER'S WAIVERS AND RESPONSIBILITIES. Lender need not tell Borrower about any action or inaction Lender takes in connection with this Assignment. Borrower assumes the responsibility for being and keeping informed about the Property. Borrower waives any defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the Property, or any delay by Lender in realizing upon the Property. Borrower agrees to remain liable under the Note with Lender no matter what action Lender takes or fails to take under this Assignment. PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor shall pay to Lender all amounts secured by this Assignment as they become due, and shall strictly perform all of Grantor's obligations under this Assignment. 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, Grantor may remain in possession and control of and operate and manage the Property and collect the Rents, provided that the granting of the right to collect the Rents shall not constitute Lender's consent to the use of cash collateral in a bankruptcy proceeding. GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that: Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans, liens, encumbrances, and claims except as disclosed to and accepted by Lender in writing. Right to Assign. Grantor has the full right. power and authority to enter into this Assignment and to assign and convey the Rents to Lender. No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any instrument now in force. No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights in the Rents except as provided in this Assignment. LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no default shall have occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby given and granted the following rights, powers and authority: