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20090125? <br />B. Payment of all other sums, with interest, that may become due and payable to <br />Assignee under this assignment or under the Note and Trust Deed. <br />C. Assignor's performance and discharge of every obligation and agreement of <br />Assignor under this assignment or under the Note and Trust Deed. <br />D. It is intended by this Agreement that any or all of the above obligations covered <br />by, described in, or identified by this Assignment of Leases and Rents are to be secured by <br />present, future, and after arising rents and leases, including any future advances or other value, <br />whether or not the future advances or values are given pursuant to an existing commitment to <br />loan additional funds. This Assignment of Leases and Rents shall constitute a security interest in <br />rents upon the execution and delivery of this assignment instrument by the Assignor to the <br />Assignee. The parties anticipate that this document shall be filed and recorded with the Registrar <br />of Deeds of Hall County, Nebraska and shall constitute a security interest as defined in Neb. <br />Rev. Stat. § 52-1701 et.seq. <br />SECTION THREE <br />ASSIGNOR'S WARRANTIES <br />Assignor warrants to Assignee: <br />A. It is the sole owner of the leases assigned by this instrument insofar as it applies to <br />the property covered by this assignment and or all the leasehold rights which the leases purport <br />to create, with full power to convey the same. <br />B. The leases are unencumbered, valid and in full force and effect in accordance with <br />their terms. <br />C. The Lessee(s) are not in default under any of the terms, conditions, or covenants <br />of the leases and that appropriate Estoppel Agreements on request of Assignee from time to time <br />will be provided to Assignee with respect to each lease. <br />D. The rental property, rental payments, and other sums are free from liens, <br />encumbrances, claims, and setoffs of every kind whatsoever except as follows: a first deed of <br />trust in favor of Assignee, easements, covenants and restrictions of record on the real estate. <br />E. If Assignor shall be in default on any Note, Trust Deed, or on any term of a loan <br />document dated on even date, and in the event any payment under the leases hereby assigned is <br />made to Assignor, it will promptly transmit such payment to Assignee. <br />SECTION FOUR <br />ASSIGNOR'S COVENANTS <br />Assignor agrees and covenants to Assignee: <br />2 <br />