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<br />
<br />WHEN RECORDED MAil TO:
<br />Wells Fargo Bank, National Association
<br />Attn: Collateral Processing - Rep III
<br />730 2nd Avenue South, Suite 1000
<br />Minneapolis, MN 55479
<br />
<br />35.50
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />
<br />200091745695700090
<br />
<br />ASSIGNMENT OF RENTS
<br />
<br />THIS ASSIGNMENT OF RENTS dated October 30, 2007, is made and executed between Terry N. Taylor, and
<br />Susan M. Taylor, husband and wife, whose address is 222 S. Eddy Street, Grand Island, NE 68801; (referred
<br />to below as "Grantor") and Wells Fargo Bank, National Association, whose address is 304 W. 3rd Street,
<br />Grand Island, NE 68801 (referred to below as "lender").
<br />
<br />ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security interest in, and
<br />conveys to lender all of Grantor's right, title, and interest in and to the Rents from the following described
<br />Property located in Hall County, State of Nebraska:
<br />
<br />The Northerly One-Sixth of Lot Five (5), in Block Sixty-Five (65) in the Original Town, now City of Grand
<br />Island, Hall County, Nebraska, said premises having a frontage of Twenty-Two (22) Feet of Spruce Street
<br />(now Wheeler Ave) and extending back along the alley in said block, Sixty-Six (66) Feet to the Easterly line
<br />of said lot.
<br />
<br />. The Property or its address is commonly known as 211 North Wheeler, Grand Island, NE 68801. The
<br />Property tax identification number is 400005514.
<br />
<br />CROSS-COLLATERALlZATION. In addition to the 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 unrelated 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 />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 />
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