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<br />Loan No: 809348
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<br />ASSIGNMENT OF RENTS
<br />(Continued)
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<br />200608239
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<br />Page 3
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<br />on demand and ShAll heAr interest At the Note rAtn from the date of the expenditure until repaid. Expenses covered hy this paragraph
<br />include, without limitation, however subject to (lny limits under applicable law, Lnnder's attorneys' fees and Lender'R legAl expenses,
<br />whether or not thme is a lAwsuit, including Attorneys' fees and expensns for hankruptcy proceedings (including efforts to modify or
<br />vacate Any Automatic Rtay or injunction), appnals, and any anticipAted post judgment collection services, the cost of searching
<br />records, ohtaining title reports (including foreclosure reports), surveyors' reports, and appraisal fees, 1.itle insurAnce, and fees for the
<br />Trustee, to the extent permitted by applicable law. Grantor also will pay any court costs, in Addition to all other sums providerl hy
<br />law.
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<br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a pArt of rhis Assignment:
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<br />Amendments. This Assignment, together with any Related Documents, constitutes the entire understanding and agreEHTlel1t of thn
<br />parties as to the matters set forth in this Assignment. No alteration of or Amendment to this Assignment shall be effective unless
<br />given in writing and signed by the party or parties sought to be charged or bound by the nlteration or Amendment.
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<br />Caption Headings. Caption heAdings in this Assignment are for convenience purposes only and are not to be used to interpret or
<br />define the provisions of this Assignment.
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<br />Governing Law. This Assignment will be governed by federal law applicable to Lender and, to the extent not preempted by federfll
<br />law. the laws of the State of Nebraska without regard to its conflicts of law provisions. This Assignment has been accepted by
<br />Lender in the State of Nebraska. .
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<br />Choice of Venue. If there is a lawsuit, Grantor agrees upon Lender's request to submit to the juriRrliction of the courts of Hall County,
<br />State of Nehraska.
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<br />Joint and Several Liability. All obligatilJns IJf Borrower and Grantor undflt this Assignment shall be joint and several, and all references
<br />tlJ Grantor shall mean each and every Grantor, and all references to Borrower ShAll mean each and every Borrower. This means tllllt
<br />each Grantor signing below is responsible for All ohligAtions in this Assignment. Where anyone or more of the pArties is a
<br />corporation, pArtnership, limited IiAhility compAny or similAr entity, it is not necessary for Lender to inquire into the powers of any of
<br />the officers, directors, partners, members, or other Agents Acting or purporting to Act on the entity's behalf, and any obligations .m~rle
<br />or created in reliance upon the professed exercise of such powers shall he gUArAnteed under this Assignment.
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<br />Merger. There ShAll be no merger of the interest or estate creAted hy this assignment with any other interest or es1Ate in the Propefty.
<br />at any time held by or for the benefit of Lender in any capacity, without the written consent of Lender.
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<br />Interpretation. (1) In all cases where there is more thAn one Borrower or GrAntor, then all words used in this J';,ssignment in the
<br />singular shall be deemed to have been used in the plural where the context and construction so require. (2) If more "thAn one nerson
<br />signs this Assignment as "Grantor," the obligAtions of eAch Gmntor are joint and several. This means that if Lender hrinns A lAwsuit,
<br />Lender may sue Anyone or more of the GrAntors. If Borrower Anrl Grantor are not the same person, Lender need not sue Borrower
<br />first, Anrl thAt Borrower need not be joined in any lawsuit. (3) The names given to paragrnphs or sections in this Assiqnment are for
<br />convenience purposes only. They are not to be used to interpret or define the provisions of this Assiqnrnent.
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<br />No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Assignment unless such waiver is (Jiven in
<br />writing and siqned by Lender. No delay or omission on the pan of Lender in exercising any right shall opemlf! AS A waiver of such
<br />right or any other right. A waiver by Lender of A provision of this Assignment shAll not prejudice or constitute A waivm of Lender's
<br />right otherwise to demand strict compliance with that provision or Any other provisilJn IJf this Assignment. No prior WAiver by Lender,
<br />nor Any course of dealing between Llmder and Grantor, shAll constitute a waiver of any of Lender's rights or of any of Grantor's
<br />obligations as to any future transactions. Whenever the consent of Lender is required under this Assignment, the grAnting of such
<br />consent hy Lenrler in Any instance ShAll not constitute continuing consent to subsequent instances where such consent is required and
<br />in All CAses such consent mAY he granted or withheld in the sole discretion of Lender.
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<br />Notices. Any notice required to he given under this Assignment shall be given in writing, and shall hn effective when actually
<br />delivered, when actually received by telefacsimile (unless otherwise required by law), when deposited with a nAtionAlly recognized
<br />overnight courier, or, if mailerl, when rleposited in the United States mail, as first class, certified or registered mail plJstage prepaid.
<br />directerl to the Arldresses shown neAr the beginning of this Assignment. Any party may change its address for notices under this
<br />Assignment by giving formal written nlJtice to the other parties, specifying thAt the purpose of the nlJtice is to change the pArty'S
<br />address. For notice purposes, Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise
<br />provided or required by law, if there is more thAn one GrAntor, any notice given hy Lender to any GrantlJr is deemed r.o be notice given
<br />to all Grantors.
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<br />Powers of Attorney. The various agencies and powers of attorney conveyed on Lender under this Assignment are granted for
<br />purposes of security and may not be revoked by Grantor until such time as the same are renounced hy Lender.
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<br />Severability. If a court of competent jurisdiction finds any provision IJf this Assignment to he illegAl, invalirl, or unenforceable ilS to
<br />any circumstAnce, that finding shall not make the offending provision illegal, invalid, or unenforcnAhle as to any other circumstance. If
<br />feasihle, the offending provisilJn shall be considered modified so that it hecomes legal, valid and enforceable. If the offenrling
<br />provision cannot be so modified, it shall be considered deleted from this Assignment. Unless otherwise required hy law, the illegality,
<br />invalidity, orunenforceability of any provision of this Assignment ShAll not Affect the legality, validity or enforceability of any other
<br />provision of this Assignment.
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<br />Successors and Assigns. Subject to any limitations stated in this Assignment on trAnsfer of GrantlJr's interest, this Assignmnnt shall
<br />be hinding upon and inure to the benefit of the parties, their successors and Assigns. If ownership of the Property becomes vested in
<br />a person other than GrantlJr, Lender, without notice to GrAntor, mny deAl with Grantor's succeSSlJrs with reference to this Assignment
<br />and the Indebtedness by way of forbearance or extension without releAsing GrantlJr fTOm the obligations of this Assignment or liability
<br />under the Indebtedness.
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<br />Time is of the Essence. Time is of the essence in the performance of this Assignment.
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<br />Waive Jury. All parties to this Assignment hereby waive the right to flny jury trial in any action. proceeding. or counterclaim brought
<br />by any party against any other party.
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<br />WAIVER OF HOMESTEAD EXEMPTION. Grantor hereby releases and waives all rights and benefits IJf the homestenrl exemption laws of
<br />the State of Nebraska as to all Indebtedness secured hy this Assignment.
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<br />WAIVER OF RIGHT OF REDEMPTION. NOTWITHSTANDING ANY OF THE PROVISIONS TO THE CONTRARY CONTAINED IN THIS
<br />ASSIGNMENT, GRANTOR HEREBY WAIVES ANY AND ALL RIGHTS OF REDEMPTION FROM SALE UNDER ANY ORDER OR JUDGMENT
<br />OF FORECLOSURE ON GRANTOR'S BEHALF AND ON BEHALF OF EACH ANI) FVEfW PERSON, EXCEPT JUDGMENT CREnITons OF
<br />GRANTOR, ACQUIRING ANY INTEREST IN OR TITLE TO THE pr10rERTY SUBSEQUENT TO THE DATE OF HilS ASSIGNMENT
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<br />DEFINITIONS. The following capitalized words and terrns shall have the following meAnings when used in this Assignment. Unless
<br />specifically stAted to the contrary, all references to dollar amounts shall meAn amollllts in lawful money of the United States of America.
<br />Words Anrl terms used in the singular shall include the plural. and the plural shnll include the singular, as the context may require. Words
<br />and terms not otherwise defined in this Assignment ShAll have the meanings Attrihuted to such terms in the Uniform CommerciAl Corle:
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<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.
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<br />Borrower. The word" Borrower" means GrAnrl IslAnrl NebraskA AssociAtes, L.L.C.; Kenneth S. Klein; and CynthiA R. Klein.
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<br />Default. The word "Default" means the Default set forth in this Assignment in the section titled "Default".
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<br />Event of Default. The words "Event of Default" mean Any of the events of rlefAult set forth in this Assignment in the default section
<br />of this Assiqnment.
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<br />Grantor. The word "Grantor" means GrAnd IslAnd Nebraska Associates, L.L.C..
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<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.
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