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<br />WHEN RECORDED MAIL TO: 3~ , s'p
<br />Bank of the West
<br />4321 20th Ave SW
<br />Fargo. ND 58103 FOR RECORDER'S USE ONLY
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<br />ASSIGNMENT OF RENTS
<br />THIS ASSIGNMENT OF RENTS dated June 9, 2010, is made and executed between HILLI~NDALE ill, LLC,
<br />whose address is 4244 W 124TH TERR, LEAWOOD, KS 66209 (referred to below as "Grantor") and BANK
<br />OF THE WEST, whose address is 740 NW Blue Park Way, Lee's Summit, MO 64088 (referred to below as
<br />"Lender"),
<br />ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security interest in, and
<br />conveys to Lender all of Grantor's right, title, and interest in and to the Rents from the following described
<br />Property located in HALL County, State of Nebraska:
<br />LOT 1, BRENTWOOD SIXTH SUBDIVISION, IN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />The Property or its address is commonly known as 3285 WOODRIDGE BLVD, GRAND ISLAND, NE 68801.
<br />FUTURE ADVANCES. In addition to the Note, this Assignment secures all future advances made by Lender to Borrower whether or not the
<br />advances are made pursuant to a commitment. Specifically, without limitation, this Assignment secures, in addition to the amounts
<br />specified in the Note, all future amounts Lender in its discretion may loan to Borrower, together with all interest thereon.
<br />THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL
<br />OBLIGATIONS OF BORROWER AND GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED DOCUMENTS. THIS
<br />ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />GRANTOR'S WAIVERS. Grantor waives all rights or defenses arising by reason of any "one action" or "anti-deficiency" law, or any other
<br />law which may prevent Lender from bringing any action against Grantor, including a claim for deficiency to the extent Lender is otherwise
<br />entitled to a claim for deficiency, before qr after Lender's commencement or completion of any foreclosure action, either judicially or by
<br />exercise of a power of sale.
<br />BORROWER'S WAIVERS AND RESPONSIBILITIES. Lender need not tell Borrower about any action or inaction Lender takes in connection
<br />with this Assignment. Borrower assumes the responsibility for being and keeping informed about the Property. Borrower waives any
<br />defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender tq realize upgn the
<br />Property, or any delay by Lender in realizing upon the Property. Borrower agrees tq remain liable under the Ngte with Lender nq matter
<br />what action Lender takes or fails to take under this Assignment.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor shall pay to Lender
<br />all amounts secured by this Assignment as they beagme due, and shall strictly perform all of Grantor's obligations under this Assignment,
<br />Unless and until Lender exercises its right to collect the Rents as provided below and so Ipng as there is no default under this Assignmenk,
<br />Grantor may remain in possession and control of and operate and manage the Property and collect the Rents, provided that the granting of
<br />the right to collect the Rents shall not constitute Lender's consent to the use of cash collateral in a bankruptcy prnesading.
<br />GRANTOR'S REPRESENTATIONS AND WARRANTIES, Grantor warrants that:
<br />Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans, liens, encumbrances, and claims except as
<br />disclosed to and accepted by Lender in writing.
<br />Right to Assign. Grantor has the full right, power and authority to enter into this Assignment and to assign and convey the Rents to
<br />Lender.
<br />No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any instrument now in force.
<br />No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights in the Rents except as
<br />provided in this Assignment.
<br />LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no default shall have
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