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<br />Loan No: 4032026768
<br />
<br />ASSIGNMENT OF RENTS
<br />(Continued)
<br />
<br />200702910
<br />
<br />Page 6
<br />
<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.
<br />
<br />Joint and Several Liability. All obligations of Borrower and Grantor under this Assignment shall be joint and several, and all references
<br />to Grantor shall mean each and every Grantor, and all references to Borrower shall mean each and every Borrower. This means that
<br />each Grantor signing below is responsible for all obligations in this Assignment.
<br />
<br />Merger. There shall be no merger of the interest or estate created by this assignment with any other interest or estate in the Property
<br />at any time held by or for the benefit of lender in any capacity, without the written consent of lender.
<br />
<br />Interpretation. (1) In all cases where there is more than one Borrower or Grantor, then all words used in this Assignment 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 person
<br />signs this Assignment as "Grantor," the obligations of each Grantor are joint and several. This means that if lender brings a lawsuit,
<br />lender may sue anyone or more of the Grantors. If Borrower and Grantor are not the same person, lender need not sue Borrower
<br />first, and that Borrower need not be joined in any lawsuit. (3) The names given to paragraphs or sections in this Assignment are for
<br />convenience purposes only. They are not to be used to interpret or define the provisions of this Assignment.
<br />
<br />No Waiver by lender. lender shall not be deemed to have waived any rights under this Assignment unless such waiver is given in
<br />writing and signed by lender. No delay or omission on the part of lender in exercising any right shall operate 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 waiver of lender's
<br />right otherwise to demand strict compliance with that provision or any other provision of this Assignment. No prior waiver by lender,
<br />nor any course of dealing between lender 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 by lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and
<br />in all cases such consent may be granted or withheld in the sole discretion of lender.
<br />
<br />Notices. Any notice required to be given under this Assignment shall be given in writing, and shall be 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 mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid,
<br />directed to the addresses shown near the beginning of this Assignment. Any party may change its address for notices under this
<br />Assignment by giving formal written notice to the other parties, specifying that the purpose of the notice 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 by Lender to any Grantor is deemed to be notice given
<br />to all Grantors.
<br />
<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 by lender.
<br />
<br />Severability. If a court of competent jurisdiction finds any provision of this Assignment to be illegal, invalid, or unenforceable as to
<br />any circumstance. that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other circumstance. If
<br />feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending
<br />provision cannot be so modified, it shall be considered deleted from this Assignment. Unless otherwise required by law, the illegality,
<br />invalidity, or unenforceability of any provision of this Assignment shall not affect the legality, validity or enforceability of any other
<br />provision of this Assignment.
<br />
<br />Successors and Assigns. Subject to any limitations stated in this Assignment on transfer of Grantor's interest, this Assignment shall
<br />be binding 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 Grantor, lender, without notice to Grantor, may deal with Grantor's successors with reference to this Assignment
<br />and the Indebtedness by way of forbearance or extension without releasing Grantor from the obligations of this Assignment or liability
<br />under the Indebtedness.
<br />
<br />Time is of the Essence. Time is of the essence in the performance of this Assignment.
<br />
<br />WAIVER OF HOMESTEAD EXEMPTION. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of
<br />the State of Nebraska as to all Indebtedness secured by this Assignment.
<br />
<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 AND EVERY PERSON, EXCEPT JUDGMENT CREDITORS OF
<br />GRANTOR, ACQUIRING ANY INTEREST IN OR TITLE TO THE PROPERTY SUBSEQUENT TO THE DATE OF THIS ASSIGNMENT.
<br />
<br />DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Assignment. Unless
<br />specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America.
<br />Words and terms used in the singular shall include the plural, and the plural shall include the singular, as the context may require. Words
<br />and terms not otherwise defined in this Assignment shall have the meanings attributed to such terms in the Uniform Commercial Code:
<br />
<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.
<br />
<br />Borrower, The word "Borrower" means James Scott Zana and Reba G. Zana.
<br />
<br />Default. The word "Default" means the Default set forth in this Assignment in the section titled "Default".
<br />
<br />Event of Default. The words "Event of Default" mean any of the events of default set forth in this Assignment in the default section
<br />of this Assignment.
<br />
<br />Existing Indebtedness. The words "Existing Indebtedness" mean the indebtedness described in the Existing liens provision of this
<br />Assignment.
<br />
<br />Grantor. The word "Grantor" means James Scott Zana, Trustee.
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