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560
<br />ASSIGNMENT OF LEASES AND RENTS
<br />This Assignment agreement made, and entered into as of the 1 Sth day of February, 2009,
<br />by and between Grand Island Area Economic Development Corporation, a Nebraska Non-Profit
<br />Corporation herein referred to as "Assignor," and Wells Fargo Bank, National Association,
<br />herein referred to as "Assignee."
<br />SECTION ONE
<br />ASSIGNMENT OF LEASES
<br />A. For value received and to secure the debts set forth below in this agreement,
<br />Assignor grants, transfers, and assigns to Assignee, Assignor's entire interest, as lessor, in all
<br />leases of real estate, now in existence or which may in the future come into existence relating to
<br />certain real estate owned by Grand Island Area Economic Development Corporation, and legally
<br />described as set forth in Exhibit "A" attached hereto and by this reference made a part hereof.
<br />B. Assignor further grants, transfers, and assigns to Assignee all rents, income, and
<br />profits arising from such leases, their options and renewals together with all rents, income, and
<br />profits for the use and occupancy of the premises described in the leases or in the Trust Deed
<br />referred to in this assignment and, at the option of Assignee, from all leases of the above -
<br />described premises that may be executed in the future during the term of this assignment.
<br />SECTION TWO
<br />DEBTSSECURED
<br />This assignment is made to secure the following:
<br />A. Payment of the principal sum and interest evidenced by a promissory note, and
<br />any amendments, extensions, or renewals thereof, in the principal sum of Three Million Six
<br />Hundred Nine Thousand Three Hundred Thirty -Six Thousand and 00 /100 Dollars
<br />($3,609,336.00) executed and delivered by Assignor in favor of Assignee and dated October 21,
<br />2005, herein referred to as "Note" which is additionally secured by among other documents a
<br />Trust Deed on the real property.
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<br />560
<br />ASSIGNMENT OF LEASES AND RENTS
<br />This Assignment agreement made, and entered into as of the 1 Sth day of February, 2009,
<br />by and between Grand Island Area Economic Development Corporation, a Nebraska Non-Profit
<br />Corporation herein referred to as "Assignor," and Wells Fargo Bank, National Association,
<br />herein referred to as "Assignee."
<br />SECTION ONE
<br />ASSIGNMENT OF LEASES
<br />A. For value received and to secure the debts set forth below in this agreement,
<br />Assignor grants, transfers, and assigns to Assignee, Assignor's entire interest, as lessor, in all
<br />leases of real estate, now in existence or which may in the future come into existence relating to
<br />certain real estate owned by Grand Island Area Economic Development Corporation, and legally
<br />described as set forth in Exhibit "A" attached hereto and by this reference made a part hereof.
<br />B. Assignor further grants, transfers, and assigns to Assignee all rents, income, and
<br />profits arising from such leases, their options and renewals together with all rents, income, and
<br />profits for the use and occupancy of the premises described in the leases or in the Trust Deed
<br />referred to in this assignment and, at the option of Assignee, from all leases of the above -
<br />described premises that may be executed in the future during the term of this assignment.
<br />SECTION TWO
<br />DEBTSSECURED
<br />This assignment is made to secure the following:
<br />A. Payment of the principal sum and interest evidenced by a promissory note, and
<br />any amendments, extensions, or renewals thereof, in the principal sum of Three Million Six
<br />Hundred Nine Thousand Three Hundred Thirty -Six Thousand and 00 /100 Dollars
<br />($3,609,336.00) executed and delivered by Assignor in favor of Assignee and dated October 21,
<br />2005, herein referred to as "Note" which is additionally secured by among other documents a
<br />Trust Deed on the real property.
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