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<br />NEBRASKA
<br />
<br />88- 102044
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<br />ASSIGNMENT OF LEASES AND RENTS
<br />
<br />THIS ASSIGNMENT OF LEASES AND RENTS (hereinafter referred
<br />to as this "Assignment") is entered into as of the 15th day of
<br />April, 1988, by and between SUNWEST N.O.P., INCA' a Nevada
<br />corporation (hereinafter referred to as "Assignor"), and SAN
<br />JAC MORTGAGE COMPANY. a Nevada corporation (hereinafter
<br />referred to as "Assignee").
<br />
<br />WIT N E SSE T H:
<br />
<br />ARTICLE I
<br />
<br />DEFINITIONS
<br />
<br />1. 1 Def ini tions . As used herein, all capi tal i zed terms
<br />used herein shall have the meaning set forth in that certain
<br />Loan Agreement (herein so called), dated April 15, 1988, by and
<br />between Assignor and Assignee, except the following terms shall
<br />have the following meanings:
<br />
<br />Buildings: Any and all buildings, covered garages, utility
<br />sheds, workrooms, air condi tioning towers, open pa rking areas,
<br />structures and other imp rovements, and any and all addi t ions,
<br />alterations, betterments or appurtenances thereto, now or at
<br />any time hereafter situated, placed or constructed upon or
<br />under the Land (as herein defined) or any part thereof.
<br />
<br />Event of Default: The occurrence of any of the following
<br />events: (a) the failure of Mortgagor to pay any installment of
<br />principal or interest on the Indebtedness in accordance wi th
<br />its terms, through acceleration or otherwise, or to make any
<br />payment requi red under the Loan Documents and the continuance
<br />of such failure for a periOd of three (3) days, or (b) the
<br />occurrence of an Event of Default under and as defined in the
<br />Loan Agreement.
<br />
<br />Fixtures: All materials, supplies. equipment, appar~tus
<br />and other items now owned or hereafter acquired by Assignor and
<br />now or hereafter attached to, installed in or used in
<br />connection with (temporarily or permanently) any of the
<br />Improvements or the Land, including, but not limited to, any
<br />and all partitions, dynamos, window screens and shades, drapes,
<br />rugs and other floor coverings, awnings, motors, engines,
<br />boilers, furnaces, pipes, plumbing, cleaning, call and
<br />sprinkler systems, fire extinguishing apparatus and equipment,
<br />water tanks, swimming pools, heating, ventilating, plumbing,
<br />laundry, incinerating,. air conditioning and air cooling
<br />equipment and washers. ref rige r a tors and ranges, rec rea t iona I
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