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200808988 ASSIGNMENT OF LEASES AND RENTS This Assignment agreement made, and entered into as of the 21 st day of October, 2008, by and between Grand Island Area Economic Development Corporation, a Nebraska Non-Profit Corporation herein referred to as "Assignor," and Wells Fargo Bank, National Association, herein referred to as "Assignee." SECTION ONE ASSIGNMENT OF LEASES A. For value received and to secure the debts set forth below in this agreement, Assignor grants, transfers, and assigns to Assignee, Assignor's entire interest, as lessor, in all leases of real estate, now in existence or which may in the future come into existence relating to certain real estate owned by Grand Island Area Economic Development Corporation, and legally described as set forth in Exhibit "A" attached hereto and by this reference made a part hereof. B. Assignor further grants, transfers, and assigns to Assignee all rents, income, and profits arising from such leases, their options and renewals together with all rents, income, and profits for the use and occupancy of the premises described in the leases or in the Trust Deed referred to in this assignment and, at the option of Assignee, from all leases of the above- described premises that may be executed in the future during the term ofthis assignment. SECTION TWO DEBTS SECURED This assignment is made to secure the following: A. Payment of the principal sum and interest evidenced by a promissory note, and any a mendments, extensions, or renewals thereof, in the principal sum 0 f Three Million Six Hundred Nine Thousand 'Three Hundred Thirty-Six Thousand and 00/100 Dollars ($3,609,336.00) executed and delivered by Assignor in favor of Assignee and dated October 21 S\ 2008, herein referred to as "Note" which is additionally secured by among other documents a Trust Deed on the real property. B. Payment of all other sums, with interest, that may become due and payable to Assignee under this assignment or under the Note and Trust Deed. C. Assignor's performance and discharge of every obligation and agreement of Assignor under this assignment or under the Note and Trust Deed. D. It is intended by this Agreement that any or all of the above obligations covered by, described in, or identified by this Assignment of Leases and Rents are to be secured by present, future, and after arising rents and leases, including any future advances or other value, whether or not the future advances or values are given pursuant to an 'existing commitment to loan additional funds. This Assignment of Leases and Rents shall constitute a security interest in rents upon the execution and delivery of this assignment instrument by the Assignor to the 1