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~ m n ~ z % r-.,,> C)!B "TI c::;> ("") U) c: '" en ~ Z n% ~ <O.Q C) -l N ~~ c: :t> Nm S 0 '" €.- z-l 0 S en ~~ ::0 -frT'l 0> <0 nen .. r., :z: -<0 (J) S ~X ~.. -- N 0-" C) - S c.o ""TJ Z c.n LN .." Z (D~ <>> '=' r :r:: rq N rn -"0 r... Q:J C):D t:\ rn :3 r- ;;u c: 0 r :r-.... c):s:: C) c.n en CJlm N ^ co~ ;t> N -- Z c.o en NO en WHEN RECORDED MAIL TO: ~E7 E/'I tJ) Equitable Bank North Locust Branch 113-115 N Locust St PO Box 160 Grand Island, NE 68802-0160 FOR RECORDER'S USE ONLY ASSIGNMENT OF RENTS ~ ~ Co <:;:> THIS ASSIGNMENT OF RENTS dated January 20. 2009. is made and executed between Gary L. Carothers; A Single Person (referred to below as "Grantor") and Equitable Bank. whose address is 113-115 N locust st. PO Box 160. Grand Island. NE 68802-0160 (referred to below as "Lender"). ASSIGNMENT. For valuable consideration. Grantor hereby assigns. grants a continuing security interest in. and conveys to lender all of Grantor's right. title. and interest in and to the Rents from the following described Property located in Hall County. State of Nebraska: lot Thirteen (13) in Roush Pleasantville Terrace Subdivision. Grand Island. Hall County. Nebraska aka 312 Brookline Dr. Grand Island . AND Lot Fourteen (14) Roush Pleasantville Terrace Subdivision in the City of Grand Island. Hall County. Nebraska aka 314 Brookline Dr. Grand Island AND Lot Fifteen (15) in Roush Pleasantville Terrace Subdivision. of part of Matthew's Subdivision of part of the Northwest Quarter (NW 1/4) of Section Twenty-seven (27) in Township Eleven (11) North. Range Nine (9) West of the 6th P.M. in Hall County. Nebraska aka 316 Brookline Dr. Grand Island AND Lot Twenty-eight (28) Fonner View Second Subdivision to the city of Grand Island. Hall County. Nebraska aka 1112 E Hall. Grand Island AND Lot One (1) and Thirty-one (31) Fonner View Second Subdivision to the City of Grand Island. Hall County. Nebraska aka 1123 E Hall and 1124 E Hall. Grand Island The Property or its address is commonly known as 312 Brookline Dr. Grand Island. NE 68801. The Property tax identification number Is 400086565. 400086573. 400086581. 400131544. 400131242. and 400131579. CROSS-COLLATERALlZATION. In addition to the Note, this Assignment secures all obligations, debts and liabilities, plus interest thereon, of Grantor to Lender, or anyone or more of them, as well as all claims by Lender against Grantor or anyone or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent. liquidated or unliquidated, whether Grantor may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise unenforceable. FUTURE ADVANCES. In addition to the Note, this Assignment secures all future advances made by Lender to Grantor whether or not the advances are made pursuant to a commitment. Specifically, without limitation, this Assignment secures, in addition to the amounts specified in the Note, all future amounts Lender in its discretion may loan to Grantor, together with all interest thereon. THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL OBLIGATIONS OF GRANTOR UNDER THE NOTE. THIS ASSIGNMENT. AND THE RELATED DOCUMENTS. THIS ASSIGNMENT IS GIVEN AND ACCEPtED ON THE FOLLOWING TERMS: PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor shall pay to Lender all amounts secured by this Assignment as they become due, and shall strictly perform all of Grantor's obligations under this Assignment. 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, Grantor may remain in possession and control of and operate and manage the Property and collect the Rents, provided that the granting of the right to collect the Rents shall not constitute Lender's consent to the use of cash collateral in a bankruptcy proceeding. GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that: Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans, liens, encumbrances, and claims except as disclosed to and accepted by Lender in writing. Right to Assign. Grantor has the full right. power and authority to enter into this Assignment and to assign and convey the Rents to Lender. No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any instrument now in force. No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights in the Rents except as provided in this Assignment. LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, a"nd"ev~n;t~o~ I'jo,de,~ult shall have