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or 200802165 this Assignment shall be a default under the terms of the said Deed of Trust, entitling Lender to exercise all rights and remedies provided by the Deed of Trust, this Assignment, and under the Note(s). LESSEE PAYMENTS TO LENDER. Owner irrevocably consents and agrees that any lessee(s) under any ofthe lease(s) referred to herein shall, upon demand and notice from Lender of Owner's default under said Note(s), Deed of Trust, or this Assignment, pay all rents, income, and profits under said lease(s) to Lender, without any obligation upon any such lessee(s) to determine the actual existence of any default by Owner. LENDER ASSIGNMENT OF LEASE. Owner agrees that Lender shall have the right to assign Owner's right, title and interest in the lease(s) referred to herein to any subsequent holder of the Deed of Trust or Note(s) and to assign the same to any person acquiring title to the Secured Property through foreclosure. SCOPE OF ASSIGNMENT OF LEASE AND RENTS. This Assignment extends to and includes every lease or rental agreement, whetller written or unwritten, now existing or hereafter entered into, demising any part of the Secured Property. Wherever used herein, tlle term "lease" or "leases" includes all such rental agreements. If no specific lease is described above, then this Assignment shall be a general assignment of all leases and rental agreements concerning the Secured Property. LENDER'S RIGHTS AND REMEDIES. The rights and remedies of the Lender under this Assignment arc cumulative, and are not in lieu of, but are in addition to all ofuer rights and remedies which Lender has under the Note(s), Deed of Trust, Loan Agreement and any related documents. SUCCESSORS AND ASSIGN. All covenants and agreements contained in this Assignment shall apply to and bind the grantees, heirs, personal representatives, successors, and assigns offue respective parties. ENTIRE AGREEMENT; MODIFICATIONS; SEVERABILITY. This Assignment shall constitute the entire agreement between Lender and Owner. Any modification of this Assignment shall be binding only if placed in writing and signed by the Lender and Owner. The invalidity of any provision of this Assignment shall not affect the validity of any other provision. PARAGRAPH HEADINGS. The titles to the paragraphs of this Assignment are solely for the convenience oftlle parties and shall not be used to interpret this Assignment. GOVERNING LAW. This Assignment shall be interpreted, and the rights of the parties determined, under the laws of the State of Nebraska. By signing this Assignment, Owner acknowledges reading, understanding, and agreeing to all its provisions. THE OWS APARTMENT HOMES, L.L.C. By: RA OND J O'CONNOR Date Its: Managing Member BUSINESS ACKNOWLEDGMENT STATE OF NEBRASKA ) ) COUNTY OF BUFFALO ) This instrument was acknowledged on the 14th day of March, 2008, by: RAYMOND J O'CONNOR, Managing Member on behalf of THE MEADOWS APARTMENT HOMES, L.L.c., a Nebraska Linrited Liability Company, who personally appeared before me. In witness whereof, I hereunto set my hand and, if applicable, o~ial seal. '. d"' .'., .0 My commission expires ~GE>f""-NOTARY-Stale of ""- ~ 1< 4 RONALD H. BIELENBERG' -_ ::.7;.,._ My Comm. Exp. Dec. 18.2011 __ n nn___ (Official Seal) THIS INSTRUMENT PREPARED BY: TierOne Bank / Matt Biggs 1235 N Street Lincoln, NE 68508 AFTER RECORDING RETURN TO: TierOne Bank / Commercial Loan Operations 1235 N Street Lincoln, NE 68508 @2004-2006 Copyright Compliance System;, Inc. OFB7-5U8 - 2006.11.101 Assigmnem ofL."",. and Rent, . DL4001 Page} of J www.cnnlp.lianCt:sy~teII1S.COIIl 800.968-8522 - Fax 616-956-1868