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86- 1 66234
<br />ASSIGNMENT OF LEASES AND RENTS
<br />THIS ASSIGNMENT. ,madsthls 23rd aayof October l9 96
<br />by Doris K. Dowd
<br />residing at or having an office at 2516 Commerce Avp, Grand Island, "aE 6A801
<br />(herein called "Assignee, to FlnTW Bank, Nlatlonal Association, Omaha, Nebraska having
<br />its principal seeks at Omaha, Nebraska (herein called "Assisn"' },
<br />WITNESSETH:
<br />FOR VALUE RECEIVED, Assignor hereby grants, transfers and assigns to the Assignee all of the right, title
<br />and interest of Assignor in and to any and all leasee and other tenancies now or hereafter made on or with respect to the real
<br />estats located in Grand Island, Hall County, Nebraska and more particularly described
<br />in S&@dule A hereof; which reed sets% shall be rderred to hereinafter as "Premises ", including, but not limited to that ertain
<br />Lew or those certain Leases. with modifications, ifany. described in Schedule B hereof, covering the Premises: together with,
<br />(1) any asd all extensions or renewals thwuot. (R1 any and all guarantees of the LAssee's obligations under any thereof and
<br />andsr any and all extensions or renewals of any thereof, and (3) all rants, issues, profits, revenues, deposits, earnest money
<br />payments, rights and benefits now or hereafter arising from such lease and tenancies or for the use and occupancy of the
<br />Promises, and any and all extensions and renewals thereof. Said leases and tenancies or other use of the Promises together
<br />with any and all guarantees, modifications. extensions, and renewals thereefshall be sometimes hereinafter referred to as the
<br />or "LAsses";
<br />FOR THE PURPOSE OF SECURING:
<br />ONE: Payment and performance of each and every debt, liability and obligation of every type and description
<br />which Assignor may now or anytime hereafter owe to Assignee, including. but not limited to, tb� ftbt� of Aaagjor
<br />secured by that curtain (sage or deed of trust made by the Assignor to the Assignee dated c e r 14
<br />and recorded or to be:eooedad ator prior to the reooeding of this Assignment, or any other mortgage or deed of trust hereafter
<br />covering the whole or any partof the Premises. (whether such debt, liability. or obligation now exists or is hereafterenated or
<br />incurred and whether it is or may be direct or indirect, due or to become due, absolute or contingent, primary or secondary,
<br />liquidated or unliqudated, orl ant, several, or joint and several, all such debts, liabilities and obligations being herein collec-
<br />tively referred to sometimmese as the "Obligations" k and
<br />TWO: Performance and discharge of each and every obligation, covenant and agreement of Assignor contained
<br />herein or in any such mortgage or dud of trust or any note or bond secured thereby, or in any obligation or any securing
<br />document given in comuctioo with any of the Obligations secured hereby.
<br />A. TO PROTECT THE SECURITY OF THIS ASSIGNMENT ASSIGNOR AGREES, WITH RESPECT
<br />TO EACH LEASE:
<br />1. To faithfully abide by, perform and discharge each and every obligation, covenant and agreement of the Lease
<br />by La wor to be performed, to give prompt notice to the Assignee of any notice of default on the part of Assignor with respect to
<br />the Lease received from Lessee or guarantor, together with an accurate and complete copy of any such notice. at the sole cost
<br />and expense of Assignor, to enforce orescarethe performaaaofeach and every obligation, covenant, condition and agreement
<br />of the Lease by the Lessee to be performed; not to modify or in any way altar the terms of the Laws, not to terminate the term of
<br />the I.ssse aid not to accept a surrender of the rents thereunder or to waive, excuse, condone or in any manner release or dis-
<br />charge the Imess t1sweander from the obligations, convsnants, conditions and agreements by the Lessee to be performed,
<br />including the obligation to pay the rental called for thereunder in the manner and at the place and time specified therein, and
<br />Assignor does by these presents expressly release, relinquish and surrender unto the Assignee all Assignor's right, power and
<br />authority tsmodify Orin any way alter the terms or provisionsof the L sse, or to terminate the term or accept a surrender there-
<br />of, and any attempt on the part of the Assignor to excerciee any such right without the written authority and consent of the
<br />Assignee thereto being first had and obtained shall constitute a Default of the terns hereof; as defined hereinafter, entitling
<br />the Assignee to declare all sums secured hereby immediately due and payable.
<br />2 At Assignor's eels cost and expense to appear in and defend any action or proceeding arising under, growing out
<br />of orin any mannerconnected with the IAaaeor, theobligatione.dutiesor liabilities of Lessor, Leeaeeorguarantorthemunder,
<br />and to pay all costs and expanses of the Assignee, including attorney's fees in a reasonable sum. in any such action or proceed-
<br />ing in which the Assignee may appear.
<br />& That should Assignor fail to male any payment or to do any act as herein provided, then the Assaggnee, but
<br />without obligation so to do and without notice to or demand on Assignor, and without releasing Assignor from any obligation
<br />hersoL may make ordo the asses in each manner and to such extent as the Assignee may deem necessary to protect the security
<br />hereof, including specifically, without limiting its general powers, the right to appear in and defend any action or proceeding
<br />purporting to affect the security hereof or the rights or powers of the Assignee, and also the right but not the duty to perform
<br />and discharge each and every obligation, covenant and agreement of Lessor in the Lease contained. and in exercising any
<br />such powers to pay necessary coats and expanses, employ counsel and 'incur and pay reasonable attorney's fees.
<br />4. To pay imnnsdbately upon demand all sun@ expended by the Assignee under the authority hereof, together with
<br />interest thereon at the highest rats set forth in any of the Obligations secured hereby, and the some shall be added to the Obli-
<br />gations and shall be secured hereby and by the mid mortgage or deed of cruet.
<br />4
<br />L l; That Assignor will not transfer or convey to the Lessee the fee title to the demised Premises, or any part thereof,
<br />unless the Lessee assumes in writing and agrees to pay the debt secured hereby in accordance with the terms, convenants and
<br />conditions of the said note or bond secured by said mortgage or deed of trust.
<br />CC. seasw ern$ 14
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