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<br /> FOR RECORDER'S U8E ONLY
<br />
<br />f< €.LL"" 0-1 ct::.
<br />""'WHEN RECORDED MAIL TO:
<br />_ v...,. ~ BIonk . Truat Compeny
<br />PVSS GI'llIId IMInd Branch )> 0 Bo,/- S:/hi
<br />810 Ahn Dr
<br />GI'IInd ~. NE 8880lt.. ;).-
<br />
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<br />ASSIGNMENT OF RENTS
<br />
<br />THIS ASSIGNMENT OF RENTS dated June 3, 2008, Is made .nd executed between Sllverbrook, LLC, whose
<br />.dd..... i. 2417 Lancaster Ave, Wilmington, DE 19806 (referred to below as -Grantorn) .nd P1.tte Veney
<br />State Benk &. Trust Company, whose .ddreuls 810 Allen Dr, Grand Island, NE - 68803 (referred to below.s
<br />nLendern).
<br />
<br />ASSIGNMENT. For valuable consideration, Grantor hereby assigns. granu a continuing security interest In. and
<br />
<br />conveys to Lender all of Grantor's right, title. and Interest in .nd to tha Rente from the following described
<br />
<br />Property loc:ated In Hall County. State of Nebraska:
<br />
<br />See exhibit n An, whloh Is attached to this AssIgnment end made . part of this Assignment as If fully set
<br />
<br />forth herein.
<br />
<br />The Property or Its .ddreuls commonly known.s 916 N Shedy Bend Rd.. Grand Island. NE 68801.
<br />
<br />THIS ASSIGNMENT IS GIVEN TO SECURE 111 PAYMENT OF THE INDEBTEDNES8 AND 121 PERFORMANCE OF ANY AND AU
<br />OSUGATIONS OF GRANTOR UNDER THE NOTE, THIS ASSIGIIMENT, AND THE RElATED DOCUMl/NTS. THIS ASSIGNMENT 18 GIVEN
<br />AND ACCEPTED ON THE FOUOWING TERMS:
<br />
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided In this Assignment or any Ralated Documents, Grantor Ghsll pSy to Lender
<br />sll emounts secured by thla Aaalgnment as they beoome due, and shalllltrlctly perform all of Gr_r's obligations under this Asalgnment.
<br />Unless and until lender exercisea Ita right to collect the Rents 88 providad below and aD long as there Is no default under this Aseignment.
<br />Grantor may remain In pOss_ion and control of and opel'llt8 and manage the Property and collect 1he Rante, provided that 1he granting of
<br />the right to collect 1he Rante shall not coll8tltute Lender's consent to tha use of cash collateral in a benkruptcy proceeding.
<br />
<br />GRANTOR'S REPRESENTATIONS AND WARRANTIES. GranlDr werrente that:
<br />
<br />Ownerahlp. Grantor in entitled to receive the Rents free and clear of all right8, loana. liens, encumbrances, and claima except as
<br />diecloeed to and accepted by lender In writing.
<br />
<br />RIght to Aeelgn. Grantor ha. the full right, power end authority to anter 1M\> thia Assignment and to assign and convey the Rente to
<br />lender.
<br />
<br />No Prior AooIgnment. Grantor hae not previously essigned or conveyed the Ranta to any other person by any instrument now In force,
<br />
<br />No Further Trenafor. Grantor will not 1811, essign, encumber, or otherwlae diapOl8 of any of Grantor's riglrta in the R,ents axcapt as
<br />provided in this Assignment,
<br />
<br />lENDER'S RIGHT TO RECBVE AND COllECT RENTS. Lander shall have the right at any time, and even though no default shall have
<br />occurred uncle< this Assignment, to collec:t and -receive the Rents. For thia purpD8e, lender Is hereby given end gmntsd the following
<br />rights, pOwers and euthority:
<br />
<br />Nolie. to T_. lender may sand notices to any end ell tenants of the Property advising them of thia" Asaignment end directing all
<br />Rente to be peld directly to lender or Lender's agant.
<br />
<br />Enter the "'-W. Lender may enter upOn and take _aion of the Property; demand, collect and recalve from the tenants or from
<br />any other persons liable therefor, all of the Rents; institute and carry on ell legal proceedings 08C_ary for the protection of the
<br />Property, including such proceedinga ss mBy be Il8C8SIlBry to recover _88slon of the Property; collect the Rents and remova any
<br />tenant or tenants or other persons from the Property.
<br />
<br />Maintain the "'-<tv. Lender may enter upon the Property to maintain 1he Property and keep the seme in- repair; to pay the coats
<br />thereof and of all services of all employees, including their equipment. end of all continuing coets and expense. of maintaining the
<br />Property in proper repair and condition, and also to pay all taxes, a888asrnente and water utllltle8, and the premiuma on fire and othar
<br />lnaurance atteoted by Lender on the Property.
<br />
<br />~ with la_. lender mBy do any and all things to """"ute snd comply with the Iawe of the 6tata of Nabreska and elao all
<br />other laws, rules, ordera, ordinances and requira_ of all othar governmental agencies aftactlng the Property.
<br />
<br />Leasa the "'-<tv. lender may rent or lea.... tha whola or any Part of the Property tor such term or terms and on such conditions as
<br />Lender may deem appropriate.
<br />
<br />Employ All8I'lS. Lender may engage such agent or 8Q8ntll 88 lender may deem appropriate, elther In Lender's name or in Grantor's
<br />name, to rent and manege the Property, including the collec:tlon and appliclltlon of Rents.
<br />
<br />Other A_. Lander may do all auch other thinga and lICt8 with raspect to the Property as Lender may deem epproprlate end mey ect
<br />eXClUsively and solely in the piece and stead of Grentor and to hava ell of the pOwers of Grantor for the pUrpOses _ abova.
<br />
<br />No Ra~ to Act. lender shall not be required to de any of the foregoing acts or things, and the fact that Lander ahall have
<br />performed one or more of the foregoing aCl8 or thinga &hall not requira lender to de eny other spacKle act Dr thing.
<br />
<br />APPUCA TION OF RENTS. All 008tS and expenses incurred by lender in connectlon with the Property &hall be for GraMor's account and
<br />lender may pay such costs and expenses from the Rente. lender, in Its sole discretion, shall determine the appliclltlon of any and all Rents
<br />received by it; how&\l8r, any such Rente recalvad by Lendar which ara not applied to such costB and expena88 shell be applied to the
<br />Indebtedness. All axpenditures mada by Landar undar this Assignment and not reimbursed from the Rents ahall become a part of the
<br />Indebtsdneas secured by this Assignment, and shall be payable on damand, with Intereat at the Note rate from date of expenditura until
<br />paid.
<br />
<br />FUll PERFORMANCE. If Grantor paya all of tha Indabt8d1l88B when due end otherwise performs all the obligations 10lp088d upOn Grantor
<br />under thla Aasignmant. the Note, end the Ralated Doco.ments, Lender shall axecute and dallver to Grantor a sultabla 88tisfactlon of this
<br />Aaslgnment end suitable atetemants of termination of eny flnenclng stStement on file evidencing lander's security Interest In the Rents and
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