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<br /> -10 n ~ <br /> tm <br /> ~ ::r m <br /> m en <br /> ~ Z () :z:: ~ <br /> ~ 0 '" J~"',." <br />i' c.::.") 0 (/J m <br />. a ~ (..::-;:;;-,) c:> ::0 <br />I\.) co ("",) -! m <br />s ........,~. , c: l> N <br /> "I'..... 0 <br />S r""-,. ,~ ,- z --; <br />co "~ $::.'- ;= -! rr1 CJ :;I> <br />S rTl <:'1- :-.:::: -< 0 en <br />s (;") ~..-- 0 Z <br /> o<;.,~ t-' 0 ~l <br />W (f1 .,., co ~ <br />./:>. .,., ~_. <br />-....J c.":) tj, :::c J'l'I :0 <br /> ("1 ~~' :::0 > cu 0 c: <br /> f'Tl :::3 ,. :;u g: <br /> 0 ~ ,. J;> C) <br /> m <br /> (f) I--' en G.) ~ <br /> t- I--' ;:><; <br /> );> J:: ;:::: <br /> -.-+: 0 <br /> -..J UJ -..J <br /> UJ <br /> <br /> <br /> <br />WHEN RECORDED MAil TO: <br />Platte Valley State Bank & Trust Company <br />PVSB Grand Island Branch <br />810 Allen Dr <br />Grand Island, NE 68803 <br /> <br />FOR RECORDER'S USE ONLY <br /> <br />ASSIGNMENT OF RENTS <br /> <br />;;? '" 56 <br /> <br />THIS ASSIGNMENT OF RENTS dated January 11, 2008, is made and executed between Tim C. Plate; a Single <br />Person (referred to below as "Grantor") and Platte Valley State Bank & Trust Company, whose address is 810 <br />Allen Dr, Grand Island, NE 68803 (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 C, D and B in Jones Subdivision, Grand Island, Hall County, Nebraska <br /> <br />The Property or its address is commonly known as 501.503 & 509.511 S. Cedar St and 409-411 W. louise, <br /> <br />Grand Island, NE 68801. The Property tax identification number is 400050579,400050579 and400050552. <br /> <br />THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND All <br />OBLIGATIONS OF BORROWER AND GRANTOR UNDER THE NOTE. THIS ASSIGNMENT. AND THE RELATED DOCUMENTS. THIS <br />ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOllOWING TERMS: <br /> <br />GRANTOR'S WAIVERS. Grantor waives all rights or defenses arising by reason of any "one action" or "anti-deficiency" law, or any other <br />law which may prevent Lender from bringing any action against Grantor, including a claim for deficiency to the extent Lender is otherwise <br />entitled to a claim for deficiency, before or after lender's commencement or completion of any foreclosure action, either judicially or by <br />exercise of a power of sale. <br /> <br />BORROWER'S WAIVERS AND RESPONSIBILITIES. Lender need not tell Borrower about any action or inaction lender takes in connection <br />with this Assignment. Borrower assumes the responsibility for being and keeping informed about the Property. Borrower waives any <br />defenses that may arise because of any action or inaction of Lender, including without limitation any failure of lender to realize upon the <br />Property, or any delay by Lender in realizing upon the Property. Borrower agrees to remain liable under the Note with lender no matter <br />what action lender takes or fails to take under this Assignment. <br /> <br />PAYMENT 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. Lender may send notices to any and all tenants of the Property advising them of this Assignment and directing all <br />Rents to be paid directly to Lender or Lender's agent. <br /> <br />Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and receive from the tenants or from <br />any other persons liable therefor, all of the Rents; institute and carryon all legal proceedings necessary for the protection of the <br />Property, including such proceedings as may be necessary to recover possession of the Property; collect the Rents and remove any <br />tenant or tenants or other persons from the Property. <br /> <br />Maintain tha Property. Lender may enter upon the Property to maintain the Property and keep the same in repair; to pay the costs <br />thereof and of all services of all employees, including their equipment, and of all continuing costs and expenses of maintaining the <br />Property in proper repair and condition, and also to pay all taxes, assessments and water utilities, and the premiums on fire and other <br />insurance effected by Lender on the Property. <br /> <br />Compliance with Laws. Lender may do any and all things to execute and comply with the laws of the State of Nebraska and also all <br />other laws, rules, orders, ordinances and requirements of all other governmental agencies affecting the Property. <br /> <br />Lease the Property. Lender may rent or lease the whole or any part of the Property for such term or terms and on such conditions as <br />Lender may deem appropriate. <br /> <br />Employ Agents. Lender may engage such agent or agents as Lender may deem appropriate, either in Lender's name or in Grantor's <br />name, to rent and manage the Property, including the collection and application of Rents. <br /> <br />Other Acts. Lender may do all such other things and acts with respect to the Property as Lender may deem appropriate and may act <br />exclusively and solely in the place and stead of Grantor and to have all of the powers of Grantor for the purposes stated above. <br /> <br />No Requirement to Act. Lender shall not be required to do any of the foregoing acts or things, and the fact that Lender shall have <br />performed one or more of the foregoing acts or things shall not require Lender to do any other specific act or thing. <br />