|
<br />0,
<br />
<br />Loan No: 5001932
<br />
<br />ASSIGNMENT OF RENTS
<br />(Continued)
<br />
<br />200710473
<br />
<br />Page 4
<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 lawl. 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 />Waive Jury. All parties to this Assignment hereby waive the right to any jury trial In any action, proceeding, or counterclaim brought
<br />by any party against any other party.
<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 Hoos Insurance Agency, Inc.
<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 />Grantor. The word "Grantor" means Hoos Insurance Agency. Inc.
<br />
<br />Guarantor. The word "Guarantor" means any guarantor, surety, or accommodation party of any or all of the Indebtedness.
<br />
<br />Guaranty. The word "Guaranty" means the guaranty from Guarantor to Lender, including without limitation a guaranty of all or part of
<br />the Note.
<br />
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note
<br />or Related Documents, together with all renewals of. extensions of, modifications of, consolidations of and substitutions for the Note
<br />or Related Documents and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses incurred by
<br />Lender to enforce Grantor's obligations under this Assignment, together with interest on such amounts as provided in this
<br />Assignment.
<br />
<br />Lender. The word "Lender" means Shelter Financial Bank, Its successors and assigns.
<br />
<br />Note. The word "Note" means the promissory note dated November 21, 2007, in the original principal amount of
<br />$48,000.00 from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations
<br />of, and substitutions for the promissory note or agreement.
<br />
<br />Property. The word "Property" means all of Grantor's right, titl'e and interest in and to all the Property as described in the
<br />"Assignment" section of this Assignment.
<br />
<br />Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental
<br />agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages. and all other
<br />instruments, agreements and documents, whether now or hereafter existing, executed in connection with the Indebtedness.
<br />
<br />Rents. The word "Rents" means all of Grantor's present and future rights, title and interest in, to and under any and all present and
<br />future leases, including, without limitation, all rents, revenue, income, issues, royalties, bonuses, accounts receivable, cash or security
<br />
|