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~- ASSIGNMENT OF LEASES AND RENTS 104345 This Assignment of Leases and Rents is made this ~ day of ,\Ul~ ' 1988, by RJN MANAGEMENT CORPORATION, a Minnesota corporation ("Mortgagor"), whose post office address is 822 Marquette Avenue, Suite 206, Minneapolis, Minnesota 55402 to COMMERCIAL STATE BANK IN ST. PAUL ("Mortgagee"), whose post office address is 2000 Minnesota World Trade Center, 30 East Seventh Street, St. Paul, Minnesota 55101. RECITALS Mortgagor has executed and delivered to Mortgagee a Promissory Note of even date herewith in the principal amount of Two Hundred Thirty-five Thousand and nollOO ($235,000.00) Dollars (the "Note"). To secure payment of the indebtedness evidenced by the Note until the entire balance of principal and interest due and payable under the Note is paid in full, Mortgagor has executed and delivered to Mortgagee a Combination Mortgage, Security Agreement and Financing Statement of even date herewith (the -Mortgage"), covering, inter alia, real estate situated in the County of Hall, State o~rasra, legally described as follows: Lot Eight (6), Replat Grand Island Mall Eighth Subdivision, in the City of Grand Island, Hall County, Nebraska and the buildings, improvements, fixtures and personal property now or hereafter located thereon (the "Mortgaged Premises") and provided other collateral security. Mortgagee, as a condition to granting the loan evidenced by the Note, has required the execution of this Assignment. ASSIGNMENT NOW, THEREFORE, in consideration of the premises and in further consideration of the sum of One Dollar and nol100 ($1.00) paid by Mortgagee to Mortgagor, the receipt and sufficiency of which is hereby acknowledged: ARTICLE I Assignment 1.1 Mortgagor does hereby grant, transfer and assign to Mortgagee all of the right, title and interest of Mortgagor in and to: a. That lease between RJN Management Corporation, a Minnesota corporation as Lessor and Northern Automotive Corporation, an Arizona corporation, as L