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<br />200808200
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<br />12"'AND RUNNING NORTHERLY, ALONG AND UPON THE WEST LINE OF THE NORTHEAST QUARTER OF
<br />THE NORTHEAST QUARTER (NE1/4 NE1/4), A DISTANCE OF THIRTY THREE (33.0) FEET TO THE POINT
<br />OF BEGINNING
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<br />The property is located in Hall County at 7171 S. ALDA ROAD, GRAND ISLAND, Nebraska 68801.
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<br />In the event any item listed as Leases or Rents is determined to be personal property, this Assignment will also be
<br />regarded as a security agreement.
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<br />4. PAYMENTS. Assignor agrees that all payments under the Secured Debts will be paid when due and in
<br />accordance with the terms of the Secured Debts and this Assignment.
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<br />5. COLLECTION OF RENTS. Assignor may collect, receive, enjoy and use the Rents so long as Assignor is not in
<br />default. Assignor will not collect in advance any Rents due in future lease periods, unless Assignor first obtains
<br />Lender's written consent.
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<br />Upon default, Assignor will receive any Rents in trust for Lender and Assignor will not commingle the Rents with any
<br />other funds. When Lender so directs, Assignor will endorse and deliver any payments of Rents from the Property to
<br />Lender. Amounts collected will be applied at Lender's discretion to the Secured Debts, the costs of managing,
<br />protecting and preserving the Property, and other necessary expenses.
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<br />Assignor agrees that this Assignment is immediately effective between Assignor and Lender and effective as to third
<br />parties on the recording of this Assignment.
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<br />6. COLLECTION EXPENSES AND ATTORNEYS' FEES. On or after Default, to the extent permitted by law,
<br />Assignor agrees to pay all expenses of collection, enforcement or protection of Lender's rights and remedies under
<br />this Assignment or any other document relating to the Secured Debts. Assignor agrees to pay expenses for Lender
<br />to inspect and preserve the Property and for any recordation costs of releasing the Property from this Assignment.
<br />Expenses include, but are not limited to, attorneys' fees, court costs and other legal expenses. These expenses are
<br />due and payable immediately. If not paid immediately, these expenses will bear interest from the date of payment
<br />until paid in full at the highest interest rate in effect as provided for in the terms of the Secured Debts. In addition, to
<br />the extent permitted by the United States Bankruptcy Code, Assignor agrees to pay the reasonable attorneys' fees
<br />incurred by Lender to protect Lender's rights and interests in connection with any bankruptcy proceedings initiated by
<br />or against Assignor.
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<br />7. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law
<br />means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA,
<br />42 U.S.C. 9601 et seq.), all other federal, state and local laws, regulations, ordinances, court orders, attorney general
<br />opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance;
<br />and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant
<br />which has characteristics which render the substance dangerous or potentially dangerous to the public health, safety,
<br />welfare or environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic
<br />substance," "hazardous waste," "hazardous substance," or "regulated substance" under any Environmental Law.
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<br />Assignor represents, warrants and agrees that:
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<br />A. Except as previously disclosed and acknowledged in writing to Lender, no Hazardous Substance has been, is,
<br />or will be located, transported, manufactured, treated, refined, or handled by any person on, under or about the
<br />Property, except in the ordinary course of business and in strict compliance with all applicable Environmental
<br />Law.
<br />B. Except as previously disclosed and acknowledged in writing to Lender, Assignor has not and will not cause,
<br />contribute to, or permit the release of any Hazardous Substance on the Property.
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<br />C. Assignor will immediately notify Lender if (1) a release or threatened release of Hazardous Substance occurs
<br />on, under or about the Property or migrates or threatens to migrate from nearby property; or (2) there is a
<br />violation of any Environmental Law concerning the Property. In such an event, Assignor will take all necessary
<br />remedial action in accordance with Environmental Law.
<br />D. Except as previously disclosed and acknowledged in writing to Lender, Assignor has no knowledge of or
<br />reason to believe there is any pending or threatened investigation, claim, or proceeding of any kind relating
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<br />Ronald L. Follmer
<br />Nebraska Assignment of Leases and Rents
<br />NE/4XXSPAITZ00000000000111043092208N
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<br />@1996 Bankers Systems, Inc, St. Cloud, MN ~'IIJ
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<br />Initials P.,.:;/...J.
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