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200602440
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Last modified
3/22/2006 3:27:02 PM
Creation date
3/22/2006 3:26:59 PM
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DEEDS
Inst Number
200602440
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<br />200602440 <br /> <br />Section 2.2 Absolute AssilIDment of Leases and Rents. <br /> <br />In consideration of the making of the Facility No.2 Commitment by Lender to Grantor, the sum <br />of Ten and No/lOO Dollars ($10.00) and other good and valuable consideration, the receipt and <br />sufficiency of which are hereby acknowledged, Grantor absolutely and unconditionally assigns the Leases <br />and Rents to Lender. This assignment is, and is intended to be, an unconditional, absolute and present <br />assignment from Grantor to Lender of all of Grantor's right, title and interest in and to the Leases and the <br />Rents and not an assignment in the nature of a pledge of the Leases and Rents or the mere grant of a <br />security interest therein. So long as no Event of Default shall exist, however, and so long as Grantor is <br />not in default in the performance of any obligation, covenant or agreement contained in the Leases, <br />Grantor shall have a license (which license shall terminate automatically and without notice upon the <br />occurrence of an Event of Default or a default by Grantor under the Leases) to collect, but not prior to <br />accrual, all Rents. Grantor agrees to collect and hold all Rents in trust for Lender and to use the Rents for <br />the payment of the cost of operating and maintaining the Property and for the payment of the other <br />Obligations before using the Rents for any other purpose. <br /> <br />Section 2.3 Securitv AlZfeement. Fixture Filing and Financing Statement. <br /> <br />This Deed of Trust creates a security interest in the Personalty, and, to the extent the Personalty is <br />not real property, this Deed of Trust constitutes a security agreement from Grantor to Lender under the <br />Uniform Commercial Code of the State. In addition to all of its other rights under this Deed of Trust and <br />otherwise, Lender shall have all of the rights of a secured party under the Uniform Commercial Code of <br />the State, as in effect from time to time, or under the Uniform Commercial Code in force from time to <br />time in any other state to the extent the same is applicable Law. This Deed of Trust shall be effective as a <br />financing statement filed as a fixture filing with respect to all fixtures included within the Property and is <br />to be filed for record in the real estate records of each county where any part of the Property (including <br />such fixtures) is situated. This Deed of Trust shall also be effective as a financing statement with respect <br />to any other Property as to which a security interest may be perfected by the filing of a financing <br />statement and may be filed as such in any appropriate filing or recording office. The respective mailing <br />addresses of Grantor and Lender are set forth in the opening paragraph of this Deed of Trust. A carbon, <br />photographic or other reproduction of this Deed of Trust or any other financing statement relating to this <br />Deed of Trust shall be sufficient as a financing statement for any of the purposes referred to in this <br />Section. Grantor hereby irrevocably authorizes Lender at any time and from time to time to file any <br />initial financing statements, amendments thereto and continuation statements as authorized by applicable <br />Law, reasonably required by Lender to establish or maintain the validity, perfection and priority of the <br />security interests granted in this Deed of Trust. The foregoing authorization includes Grantor's <br />irrevocable authorization for Lender at any time and from time to time to file any initial financing <br />statements and amendments thereto that indicate the Personalty (a) as "all assets" of Grantor or words of <br />similar effect, regardless of whether any particular asset comprised in the Personalty falls within the scope <br />of the Uniform Commercial Code of the State or the jurisdiction where the initial financing statement or <br />amendment is filed, or (b) as being of an equal or lesser scope or with greater detai1. <br /> <br />Section 2.4 Release of Deed of Trust and Tennination of Assignments and Financing <br />Statements. <br /> <br />On satisfaction of all of Grantor's Obligations, and on written request of Lender stating that all <br />sums secured hereby have been paid, and on surrender of this Deed of Trust to Trustee for cancellation, <br />Trustee shall reconvey to Grantor or the person or persons legally entitled thereto, without warranty, any <br />portion of the Property then held hereunder. The recitals in any such reconveyance of any matters or facts <br />shall be conclusive proof of the truthfulness thereof. <br /> <br />Hall County, Nebraska <br />08031759402 0518/6758724.2 <br /> <br />9 <br />
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