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<br />ASSIGNc4ENT OF LEASES, RENTS AND PROFITS
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<br />THIS A$~SIGNMENT made this c?S ~ day of ,Q'~Ti'u~ 1981, by
<br />THE FIRST NATIONAL BANK OF GRAND ISLAND, GRAND ISLAND, NEBRASKA, as
<br />TRUSTEE OF THE ABE TRUSTS and of the DALE TRUSTS, (hereinafter called
<br />"Assignor"), to THE FIRST NATIONAL BANK OF GRAND ISLAND, GRAND ISLAND,
<br />NEBRASKA, having it's principal place of business in Grand Island,
<br />Nebraska, (hereinafter called "First National").
<br />WITNESSETH: 'For value received and as additional security for
<br />the loan hereinafter mentioned, Assignor hereby sells, transfers,
<br />and assigns unto First National, '_t's successors and assigns, all
<br />right, title, and interest of Assignor in and to the Yeasts, issues,
<br />profits, rights and benefits from the property described below:
<br />Lots One (1) and Two (2) in Block Sixty-
<br />One (61), Original Town of Grand Island,
<br />Hall County, Nebraska.
<br />And to that end Assignor hereby assigns and sets over unto First
<br />National, it's successors or assigns, all leases or subleases of
<br />said premises now made, executed or delivered, whether written or
<br />verbal, or to be hereafter made, be the same written or verbal.
<br />And the Assignor does hereby authorize and empower First National,
<br />it's successors or assigns, without notice and without regard to
<br />the adequacy of the security for the indebtedness secured hereby,
<br />to take possession of said real estate and chattels, to rent and
<br />manage the same, and to sue for or otherwise collect the said
<br />rents, issues, profits; rights and benefits, as they shall become
<br />due, and hereby direct each and all of the tenants of the aforesaid
<br />premises to pay such rents as may now be due or shall hereafter be-
<br />come due to said First National, it's successors or assigns, upon
<br />demand for payment thereof by First Naiional, it's successors ui
<br />assigns. It is understood and agreed, however, that no such demand
<br />shall be made unless and until there has been a default in the pay-
<br />ment of the indebtedness secured by the Mortgage herein mentioned,
<br />or defaulC in the payment of any other sums secured by said Mortgage,
<br />and, until such demand is made, Assignor is authorized to collect
<br />or contmte collecting said rents, issues, profits, rights and
<br />benefice, buC that such privilege to collect or continue collecting,
<br />as aforesaid by Assignor shall not operate to permit the collection
<br />by Said Assignor: their successors or assigns, of any installment
<br />of rent in advance of the date prescribed in said lease or leases
<br />for the payment thereof. Firt National may retain or pay from such
<br />rents, issues, profits, rights and benefits collected by it reason-
<br />able fees for management and rental services rendered by it or those
<br />employed by it, all costs and expenses of collection, including
<br />reasonable attorneys' fees, and may also use the same to make good
<br />any such defaults and to pay taxes, insurance premiums, expenses of
<br />repair and maintenance and all other expenses involved in the proper
<br />management of said premises, and shall pay any surplus then remain-
<br />ing as Assignor.
<br />The term of this Assignment shall be until li-e i~ne (or•ar~y exlan-
<br />sion or renewal thereof) of even date herewith, made, executed and
<br />delivered by The First National Bank of Grand Island, Grand Island,
<br />N~bra~ka, as Trustee of the ABE Trusts and of the DALE Trusts, for
<br />the stun of ~ ~, ~ c~. c~ ~, and secured by a Mortgage covering
<br />said premises,- ahae en ugly paid and satisfied, ar until
<br />the expiration of the period of redemption, if any, at which time
<br />this Assignment is to be fully satisfied, cancelled and released;
<br />and the releasing of said Mortgage shall constitute a release hereof.
<br />This Assignment is given as additional security for the performance
<br />of each and a12 of the obligations and covenants of the Note and
<br />Mortgage above-described (or any extension or renewal Chereof).
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