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<br />
<br />WHEN RECORDED MAIL TO:
<br />Commerce Bank, N.A.
<br />Attn: Collateral KCCC
<br />1000 Walnut, 3rd Floor
<br />Kansas City, MO 64106 FOR RECORDER'S USE ONLY
<br />
<br />
<br />ASSIGNMENT OF RENTS ~.
<br />
<br />THIS ASSIGNMENT OF RENTS dated July 30, 2007, is made and executed between 4503 LLC, whose address - 'b'
<br />is 4503 E. 47th Street South, Wichita, KS 67210 (referred to below as "Grantor") and Commerce Bank, ,"-
<br />N.A., whose address is 1551 N. Waterfront Parkway, Wichita, KS 67206 (referred to below as "Lender").
<br />
<br />ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security interest in, and
<br />
<br />conveys to Lender all of Grantor's right, title, and interest in and to the Rents from the following described
<br />
<br />Property located in Hall County, State of Nebraska:
<br />
<br />Lot Two (2), Bosselman Third Subdivision, an Addition to the City of Grand Island. Hall County, Nebraska.
<br />
<br />The Property or its address is commonly known as 2960 N. Diers Ave. . Grand Island, NE 68803.
<br />
<br />CROSS.COLLATERALlZATION. In addition to tho Note, this Assignment secures all obligations, debts and liabilities, plus interest thereon,
<br />of Grantor to Lender, or anyone or more of them, as well as all claims by Lender against Grantor or anyone or more of them, whether
<br />now existing or hereafter arising, whether related or unrelatecJ to the purpose of the Note, whether voluntary or otherwise, whether due or
<br />not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Grantor may be liable
<br />individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon
<br />such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts
<br />may be or hereafter may become otherwise unenforceable,
<br />
<br />FUTURE ADVANCES. In addition to the Note, this Assignment secures all future advances made by Lender to Grantor whether or not the
<br />advances are made pursuant to a commitment, Specifically, without limitation, this Assignment secures, in addition to the amounts
<br />specified in the Note, all future amounts Lender in its discretion may loan to Grantor, together with all interest thereon,
<br />
<br />THIS ASSIGNMENT IS GIVEN TO SECURE (1 ) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL
<br />OBLIGATIONS OF GRANTOR UNDER THE NOTE. THIS ASSIGNMENT. AND THE RELATED DOCUMENTS. THIS ASSIGNMENT IS GIVEN
<br />AND ACCEPTED ON THE FOLLOWING TERMS:
<br />
<br />PA YMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor shall pay to Lender
<br />all amounts secured by this Assignment as they become due, and shall strictly perform all of Grantor's obligations under this Assignment.
<br />Unless and until Lender exercises its right to collect the Rents as provided below and so long as there is no default under this Assignment,
<br />Grantor may remain in possession and control of and operate and manage the Property and collect the Rents, provided that the granting of
<br />the right to collect the Rents shall not constitute Lender's consent to the use of cash collateral in a bankruptcy proceeding.
<br />
<br />GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that:
<br />
<br />Ownership, Grantor is entitled to receive the Rents free and clear of all rights, loans, liens, encumbrances, and claims except as
<br />disclosed to and accepted by Lender in writing,
<br />
<br />Right to Assign. Grantor has the full right, power and authority to enter into this Assignment and to assign and convey the Rents to
<br />Lender,
<br />
<br />No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any instrument now in force.
<br />
<br />No Further Transfer, Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights in the Rents except as
<br />provided in this Assignment.
<br />
<br />LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no default shall have
<br />occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby given and granted the following
<br />rights, powers and authority:
<br />
<br />Notice to Tenants. Londer may send notices to any and all tenants of the Property advising them of this Assignment and directing all
<br />
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