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<br />WHEN RECORDED MAil TO:
<br />Bank of the West
<br />4321 20th Ave SW
<br />Farao, ND 58103
<br />
<br />FOR RECORDER'S USE ONLY
<br />
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<br />*105052391500000000180115*
<br />
<br />ASSIGNMENT OF RENTS
<br />
<br />THIS ASSIGNMENT OF RENTS dated January 8, 2009, is made and executed between MARTINEZ
<br />ENTERPRISES, llC, a Nebraska Limited Liability Company, whose address is 4183 INDIANHEAD RD, GRAND
<br />ISLAND, NE 68803 (referred to below as "Grantor") and BANK OF THE WEST, whose address is 3301 W
<br />State St, Grand Island, NE 68803 (referred to below as "lender"),
<br />
<br />ASSIGNMENT, For valuable consideration, Grantor hereby assigns, grants a continuing security interest in, and
<br />conveys to lender all of Grantor's right, title, and interest in and to the Rents from the following described
<br />Property located in HAll County, State of Nebraska:
<br />
<br />Unit 2716, Island West Plaza Condominium Property Regime, in the City of Grand Island, Hall County,
<br />Nebraska; According to the Master Deed flied July 18, 2005 as Inst. No. 200506707 and by the By.laws
<br />filed September 13, 2005 as Inst. No. 200508988; as Amended by Filing of Record, Grand Island, Hall
<br />County, Nebraska
<br />
<br />The Property or its address is commonly known as 2716 OLD FAIR RD, GRAND ISLAND, NE 68803. The
<br />Property tax identification number is 400429764.
<br />
<br />FUTURE ADVANCES. In addition to the Note, this Assignment secures all future advances mede by Lender to Grantor whether or not the
<br />advances are made pursuant to a commitment. Specifically, without limitation, this Assignment secures, in addition to the amounts
<br />specified in the Note, all future amounts Lender in its discretion may loan to Grantor, together with all interest thereon.
<br />
<br />THIS ASSIGNMENT IS GIVEN TO SECURE III PAYMENT OF THE INDEBTEDNESS AND 121 PERFORMANCE .OF ANY AND ALL
<br />OBLIGATIONS OF GRANTOR UNDER THE NOTE. THIS ASSIGNMENT, AND THE RELATED DOCUMENTS. THIS ASSIGNMENT IS GIVEN
<br />AND ACCEPTED ON THE FOLLOWING TERMS:
<br />
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents. Grantor shall pay to Lender
<br />all amounts secured by this Assignment as they become due, and shall strictly perform all of Grantor's obligations under this Assignment.
<br />Unless and until Lender exercises its right to collect the Rents as provided below and so long as there is no default under this Assignment,
<br />Grantor may remain in possession and control of and operate and manage the Property and collect the Rents. provided that the granting of
<br />the right to collect the Rents shall not constitute Lender's consent to the use of cash collateral in a bankruptcy proceeding.
<br />
<br />GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that:
<br />
<br />Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans. liens, encumbrances, and claims except as
<br />disclosed to and accepted by Lender in writing.
<br />
<br />Right to Assign. Grantor has the full right, power and authority to enter into this Assignment and to assign and convey the Rents to
<br />Lender.
<br />
<br />No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any instrument now in force.
<br />
<br />No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights in the Rents except as
<br />
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