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ASSIGNMENT O~ RENTS ~ (~ ~ ~ ~ g 41 ~-
<br />l,aan No: 809919 (Continued) Page 3
<br />State of Nebraska.
<br />Merger. There shall be np merger of the interest or estate created by this assignment with any other interest or estate in the Property
<br />at any time held by or for the benefit of Lender in any capacity, without the written consent of Lender.
<br />Interpretation. 11- In all cases where there is more than one Borrower or Grantor, then all words used in this Assignment in the
<br />singular shall 6e deemed to have been used in the plural where the context and construction so require. 121 If more than one person
<br />signs this Assignment as "Grantor," the obligations of each Grantor are joint and several. This means that if Lender brings a lawsuit,
<br />Lender may sue any pne or more of the Grantors. If Borrower and Grantor are not the same person, Lender need not sue Borrower
<br />first, and that Borrower need not be joined in any lawsuit- 13) The names given to paragraphs or sections in this Assignment are for
<br />convenience purposes only. They are not to be used to interpret or define the provisipns of this Assignment.
<br />No Waiver by Lender. Lander shall not be deemed to have waived any rights under this Assignment unless such waiver is given in
<br />writing and signed 6y Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such
<br />right or any other right. A waiver by Lender of a provision of this Assignment shall not prejudice or constitute a waiver of Lender's
<br />right otherwise to demand strict compliance with that provision or any other provision of this Assignment. No prior waiver by Lender,
<br />npr any course of dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rigftts or of any of Grantor's
<br />pbligations as to any future transactions. Whenever the consent of Lender is required under this Assignment, the granting of such
<br />consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and
<br />in all cases such consent may be granted or withheld in the sole discretion of Lender.
<br />Notices. Any notice required to be given under this Assignment shall be given in writing, and shall be effective when actually
<br />delivered, when actually received by telefacsimile (unless otherwise required by law-, when deposited with a nationally recognized
<br />overnight courier, pr, if mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid,
<br />directed to the addresses shown near the beginning of this Assignment. Any party may change its address for notices under this
<br />Assignment by giving formal written notice to the other parties, specifying that the purpose pf the notice is to change the party's
<br />address. For notice purposes, Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise
<br />provided or required by law, if there is more than one Grantor, any notice given by Lender to any Grantor is deemed to be notice given
<br />to all Grantors.
<br />Powers of Attorney, The various agencies and powers of attorney conveyed on Lender under this Assignment are granted for
<br />purposes of security and may not 6e revoked by Grantor until such time as the same are renounced by Lender,
<br />Severability. If a court of cpmpetent jurisdiction finds any provision of this Assignment to be illegal, invalid, or unenforceable as to
<br />any circumstance, that finding shall npt make the offending provision illegal, invalid, or unenforceable as to any other circwnstance. If
<br />feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending
<br />provision cannoC be sp modified, it shall be considered deleted from this Assignment. Unless otherwise required by law, the illegality,
<br />invalidity, or unenforcaability of any provision of this Assignment shall not affect the legality, validity pr enforceability of any other
<br />provision of this Assignment.
<br />Successors and Assigns. Subject to any limitations stated in this Assignment on transfer of Grantor's interest, this Assignment shall
<br />be binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in
<br />a person other than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference tp this Assignment
<br />and the Indebtedness by way of fprbearance or extensipn without releasing Grantor from the obligations of this Assignment or liability
<br />under thelndebtedness.
<br />Time is of tfte Essence. Time is pf the essence in the performance of this Assignment.
<br />Waive Jury. All parties to this Assignment hereby waive the right to any jury trial in any action, proceeding, or counterclaim brought
<br />6y any party against any other party.
<br />Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the
<br />State pf Nebraska as to all Indebtedness secured by this Assignment.
<br />pEFINITIONS. The following capitalized words and terms shall have the follpwing meanings when used in this Assignment. Unless
<br />specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America.
<br />Words and terms used in the singular shall include the plural, and the plural shall include the singular, as the context may require. Words
<br />and terms not otherwise defined in this Assignment shall have the meanings attributed to such terms in the Uniform Commercial Code:
<br />Assignment. The word "Assignment" means this ASSIGNMENT OF RENTS, as this ASSIGNMENT OF RENTS may be amended pr
<br />modified frpm time to time, together with all exhibits and schedules attached to this ASSIGNMENT OF RENTS from time to time.
<br />Borrower. The word "Borrower" means J & B RENTALS, L.L.G..
<br />pefault. The wprd "befault'" means the pefault set forth in this Assignment in the section titled "pefault".
<br />Event of befoul[. The wards "Event of Default" mean any of the events of default set forth in this Assignment in tfte default section
<br />of this Assignment.
<br />Grantor. The word "Grantor" means J & B RENTALS, L.L.C..
<br />Guarantor. The ward "Guarantor" means any guarantor, surety, pr accommodation party of any or all of the Indebtedness.
<br />Guaranty. The word "Guaranty" meahs the guaranty from Guarantor to Lender, including without limitation a guaranty of all or part of
<br />the Note.
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note
<br />or Related pocuments, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note
<br />or Related pocuments and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses incurred by
<br />Lender to enforce Grantor's obligations under this Assignment, together with interest on such amounts as provided in this
<br />Assignment.
<br />Lender. The word "Lender" means Equitable Bank, its successors and assigns.
<br />Note. The word "Note" means the promissory note dated November 30, 2009, In the original principal amount of
<br />$~L2,500.00 from Grantor tp Lender, together with all renewals of, extensions of, modifications pf, refinancings of, consolidations
<br />of, and substitutions for the promissory note or agreement.
<br />Property. The word "Property" means all of Grantor's right, title and interest in and to all the Property as described in the
<br />"Assignment'" section pf this Assignment.
<br />Related pocuments. The wards "Related bocuments" mean all promissory notes, credit agreements, loan agreements, environmental
<br />agreements, guaranties, security agreements, mortgages, deeds pf trust, security deeds, cellateral mortgages, and all other
<br />instruments, agreements and documents, whether now or hereafter existing, executed in connection with the Indebtedness.
<br />Rents. The ward "Rents" means all of. Grantor's present and future rights, title and interest in, to and under any and all present and
<br />future leases, including, without limitation, all rents, revenue, income, issues, royalties, bonuses, accounts receivable, cash or security
<br />deposits, advance rentals, profits and proceeds from the Property, and other payments and benefits derived or to be derived from such
<br />leases of every kind artd nature, whether due now or later, including without limitation Grantor's right to enforce such leases artd to
<br />receive and collect payment and proceeds thereunder.
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