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IN 87-- 101487 ASSIGNMENT OF LEASES AND RENTS THIS ASSIGNMENT, made this 19th say of March 19 87 David L. Schaffer and Frances F. Schaffer, Husband & Wife, as Joint Tenants by with Right of Survivorship and Not as Tenants in Common residing at or having an office at 820 West 2nd Grand Island NE 88801 (herein called "Assignor'), to FirsTier Bank National A ►+aving its principal office at Omaha, Nebraska (herein called "Assignee —, WITNESSETH: FOR VALUE RECEIVED, Assignor hereby grants, transfers and assigns to the Assignee all of the right, title and interest of Assignor in and to any and ail leases and other tenancies now or hereafter made on or with respect to the real Hall Count}-, Nebraska estate located in and more particularly described in Schedule A hereof, which real estate shall be referred to hereinafter as "Premises ", including, but not limited to that certain Lease or those certain Leases, with modifications, if any, described in Schedule B hereof, covering the Premises; together with 0 ) any and all extensions or renewals thereof, (2) any and all guarantees of the Lessee's obligations under any thereof and under any and all extensions or renewals of any thereof, and (3) all rents, issues, profits, revenues, deposits, earnest money payments, rights and benefits now or hereafter arising from such lease and tenancies or for the use and occupancy of the Premises, and any and all extensions and renewals thereof. Said leases and tenancies or other use of the Premises together with any and all guarantees, modifications, extensions, and renewals thereof shall be sometimes hereinafter referred to as the Lease" or "Leases' FOR THE PURPOSE OF SECURING: ONE: Payment and performance of each and every debt, liability and obligation of every type and description which Assignor may now or anytime hereafter owe to Assignee, including, but not limited to, the indebtedness of Assignor secured by that certain mortgage or deed of trust made by the Assignor to the Assignee dated March 19 lg_a and recorded or to beseeorded at or prior to the recording of this Assignment, or any other mortgage or deed of trust hereafter covering the whole or any part of the Premises, (whether such debt, liability, or obligation now exists or is hereafter crested or incurred and whether it is or may be direct or indirect, due or to become due, absolute or contingent, primary or secondary, liquidated or unliquidated, or joint, several, or joint and several, all such debts, liabilitim and obligations being herein collec- tively referred to sometimes as the "Obligations "); and TWO: Performance and discharge of each and every obligation, covenant and agreement of Aasignorcontained herein or in any such mortgage or deed of trust or any note or bond secured thereby, or in any obligation or any securing document given in connection with any of the Obligations secured hereby. A. TO PROTECT THE SECURITY OF THIS ASSIGNMENT ASSIGNOR AGREES, WITH RESPECT TO EACH LEASE: 1. To faithfully abide by, perform and discharge each and every obligation, covenant and agreement of the base by Lessor to be performed, to give prompt notice to the Assignee of any notice of default on the part of Assign respect e the Lease received from L sauce or guarantor, together with an accurate and complete copy of any such notice: at the sole cost and expense of Assignor, to enforce or secure the performance of each and every obligation, covenant, condition and agreement of the Luse by the Lessee to be performed; not to modify or in anyway alter the terms of the Lease; not to terminate the term of the Lease and not to accept a surrender of the rents thereunder or to waive. excuse, condone or in any manner release or, di,, charge the lessee thereunder from the obligations, convenants, conditions and agreements by the Lessee to be performed, including the obligation to pay the rental called for thereunder in the manner and at the place and time specified therein, and Assignor does by these presents expressly release, relinquish and surrender unto the Assignee all Assignor's right, power and authority to modify or in any way alter the terms or provisions of the Lease, or to terminate the term or accept a surrender there- of, and any attempt on the part of the Assignor to excercise any such right without the written authority and consent of the Assignee thereto being first had and obtained shall constitute a Default of the terms hereof, as defined hereinafter, entitling the Assignee to declare all sums secured hereby immediately due and payable. 2- At Assignor's sole cost and expense to appear in and defend any action or proceeding ansing under, growing out of or in any manner connected with the Lease or the obligations, duties or liabilities of Lessor, Lessee orguarantor thereunder, and to pay all costs and expenses of the Assignee, including attorney's fees in a reasonable sum, in any such action or proceed- ing in which the Assignee may appear" 3. That should Assignor fail to make any payment or to do any act as herein provided, then the Assiggnee, but without obligation so to do and without notice to or demand on Assignor, and without releasing Assignor from any obligation hereof, may make or do the same in such manner and to sia h a�rane na rt o sae ;a. m,_._ — _ ___ _ _ hereof, including ; ;eE�s$ to prow" the security ng specifically, without limiting its general powers, the right to appear in and defend any action or proceeding Purporting to affect the security hereof or the rights or powers of the Assignee, and also the right but not the duty to perform and discharge each and every obligation, covenant and agreement of Lessor in the Lease contained; and in exercising any such powers to pay necessary costs and expenses, employ counsel and incur and pay reasonable attorney's fees" 4. To pay immediately upon demand all sums expended by the Assignee under the authority hereof, together with interest thereon at the highest rate set forth in any of the Obligations secured hereby, and the same shall be added to the Obli gations and shall be secured hereby and by the said mortgage or deed of trust. 5. That Assignor will not transfer or convey to the Lessee the fee title u, the demised Premises, or any part thereof, unless the Lessee assumes in writing and agrees to pay the debt secured hereby in acrordance with the terms, convenants and conditions of the said note or bond secured by said mortgage or deed of trust