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<br />X111 After Recordation Return to:
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<br /> ASSIGNMENT QF F~ENTS
<br /> AND LEASES ~
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<br /> Vernon Penes, Patrlala Penes ~~ p~p,5 r ',-PATRICIA pII~IA.S c/
<br />.. r- ~:.:
<br />2513 Pioneer Blvd, Grand Island, NE 68eot
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<br />6.250 151,200.00 I November 10,
<br />1. ASSIGNMENT. Inconsideration of the loan of flnandal acwmmadatian e
<br />described above and all other present and future evidences of indebtedness,
<br />otherwise of Borrower or Lessor (whether incurred for the same or different p
<br />described above? and all renewals, extensions, amendments, modifications, i
<br />(collectively the 'Obligations") Lessor, identified above, absolutely assigns to
<br />November 10, I I x-11-000046
<br />d by the promissory note or agreement
<br />ms, agreements, instruments, guaranttgis or
<br />than the promissory note or agreement
<br />cents or substftu0ons to any of the foregoing,
<br />("Lender") all Lessor's estate, right, title, interest, claim and demand now vwr
<br />of the real property described in Schedule A (the "Premises") (induding extol
<br />and occupancy of the Premises (all such leases and agreements whetthher wr
<br />and all guaranties of lessees' pertormance under the Leases, together with tl
<br />all of the rents, income, receipts, revenues, Issues, profits and o$ter income
<br />of any nature coming due during any redgimption penal) under the leases or
<br />rgints, additional rents, percentage rents, parking or common area malntenan
<br />deficiency rents, liquidated damaSes fallowing default in any Lease, all proce
<br />of rents resulting from untenantabrlity caused by destrudtnn or damage to the
<br />exeroise of an option to purchase the Premises, all proceeds derived from th
<br />other insolvency proceeding and all proceeds from any d hts and claims of s
<br />under the Leases ar any aocupants of the Premises (all o~ the above are her.
<br />This Assignment is subigict to the right, power and authority given to the Lenc
<br />described above are also secured by a mortgage or deed of trust to lender of
<br />Instrument"). The foregoing Assignment is intended to be spacfflc, perfected
<br />Instrument as provided by applicable state law.
<br />2. COVENANTS OF LESSOR. Lessor covenants and agrees that Lessor
<br />a. observe and perform all the obligations imposed upon the landlord
<br />b. refrain from discounting any future Rents or executing an future ai
<br />any Rents in advance wrthout the wrfttgin consent of Lender;
<br />xf or hereafter acquired in all existing and future teases
<br />bons, renewals and subleases), all agreements for use
<br />ten or oral, are hereafter referred to as the "Leases"),
<br />a immediate and wntinuing right to collect and receive
<br />f any nature now or hereafter due (including any income
<br />rom or arising out of the Premises Including minimum
<br />e contdbutions, tax and insurance contributions,
<br />ds pa able under any policy of insurance covedng loss
<br />Premises, aU proceeds payable as a result of a lessee's
<br />termination or rejgiction of any Lease in a bankruptcy or
<br />iy kind which Lessor may have against any lessee
<br />after colledively referred m as the "Rent" or "Rents").
<br />Ir to collect and apply the Rents. The Ohli ations
<br />the real property described in Schedule A the "Security
<br />and choate upon the recording of the Security
<br />the Leases;
<br />ant of the Leases or collect
<br />c. perform all necessary steps to maintain the security of the Leases fo the benefit of Lender induding, if requested, the periodic
<br />submission to Lender of reports and accounting information relating the receipt of Rent payments;
<br />d. refrain from modifying or terminating any of the Leases wtthout thew ' en consent of Lender;
<br />e. execute and deliver, at the request of Lender, any assurances and ignments with rasped to the Leases as Lender may
<br />periodically require; and
<br />f. comply with all applicable federal, state and local laws and regulatian~s concernin the Premises, induding but not limited to
<br />all environmental laws, the Americans with Dlsabllltles Act, and all zoning and building laws.
<br />3. REPRESENTATIONS OF LESSOR. Lessor represents and warrants to under that:
<br />a, the tenants under the Leases are current in all Rent payments and are not in default under the terms of any of the Leases;
<br />b. each of the Leases are valid and enforceable according to its terms, nd there are na daims or defenses presently existing
<br />which could be asserted by any tenant under the Leases against Le r or any assignee of Lessor;
<br />c. no Rents or security deposits under any of the Leases have previous y been assigned by Lessor to any party other than
<br />Lender;
<br />d. Lessor has not accepted, and will not accept, Rent in excess of one month in advance under any of the Leases;
<br />gi. Lessor has the power and authority to execute this Assignment; and
<br />f. Lessor has not performed any ad or executed any instrument which ~r-ight prevent Lender from collecdng Rents and taking
<br />any other adion under this Assignment. ~
<br />4. LESSOR MAY RECENE RENTS.
<br />As long as thargi is no default under the Obligations described above, the
<br />Assignment, Lender grants Lessor a revocable license to collect all Rent
<br />in Lessor's business operations. However, Lender may at any time requ
<br />maintained by Lesser ar Lender at Lender's institution.
<br />5. l?EFAULT AND REMEDIES.
<br />Upon default in the payment of, or In the performance of, an of the Oblil
<br />Premises, without becoming a mortgagee In possession and have, hold,
<br />for a period of time that Lender deems proper. Lender may proceed to c
<br />power pedodreally to make alterations, renovations, repairs or replaceme
<br />endgir ma apply all Rents, in Lender's sole discretlan, taking and retair
<br />and operation of the Premises. Lender may keep the Premises propedy
<br />assessments and other liens which may accrue, The expanse and cost
<br />and any unpaid amounts shall bgi added to thgi principal of the Obligaitor
<br />become part of the indebtedness secured by the Security Instrument anc
<br />Security Instrument securing the Obligations, or this
<br />from the Leases when due and to use such proceeds
<br />e Lessor to deposit all Rents into an account
<br />ations, Lender may at its option take possession of the
<br />nonage, lease and operate the Premises on terms and
<br />filled and receive all Rents, and Lander shall have full
<br />its to the Premises as Lender may deem proper.
<br />ng possession of the Premises and the management
<br />nsured and may discharge any taxes, charges, daims,
<br />~ these actions may be paid from the Rents received
<br />s. These amounts, together with other costs, shall
<br />far which this Assignment Is given.
<br />cca126.uff Page 1 of 3
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