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<br />ASSIGNMENT OF LEASES AND R�NTS
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<br />THIS ASSIGNMENT OP LEASES AND RENTS (as the same may be amended, modified or supplemented from time to time, the �S S�}
<br />"Assignment"), dated as af the 8th day of November, 2010, from Kershner Properties, L.L.C., a Nebraska Limited Liability Company and �.-r
<br />Central Nebraska Management, Inc., a Nebraska Corporation, (whether one or more in number hereinafter the "Assignor"), in favor of '��
<br />Nebraska �conomic Development Corporation, a Nebraska Non-Profit Corporation (the "Assignee"), for further assignment by Assignee to
<br />the iJNITED STATES SMALL BUSINESS ADMINISTRATION, an agency af the United States (the "SBA"), recites and provides:
<br />Assignee has agreed to make a loan to Assi�nor in the principal amount of T�vo Hundred Thrae Thousand and 00/] OO l�ollars
<br />($203,000.00) (the "Loan") to provide financing for acquisition of the land described as 2nd Amended L,Ot FOUr (4), BIoCk Nlne (9),
<br />Continental Gardens, an Addition to the City of Grand Island, Hall C�unty, Nebraska hereto and the improvements
<br />thereon situated in the County of Hall, (collectively, the "Premises"). The Loan is evidenced by a promissory note of even date herewith (as
<br />the same may be amended, modified or supplamented from time to time (the "Note") made by Assignor and payable to the order of Assignee
<br />in the principal amount of $203,000.00. The Nate is secured, in part, by a deed of trust of aven date herewith (as the same may be amended,
<br />modified or supplemented fram time to time, (the "Deed of'Trust") from Assignor to Gregg 5tratman, as trustee. Terms defined in the note
<br />and the Deed of Trust shall have the same de�ned rneaning when used in this Assignment. As a condition to making the Loan, the Assignee
<br />has required an assignment to the Assignee and any subsequent holder of the Note of all leases (individually, a"Lease," and collectively, the
<br />"Leases") of or relating to Assignor's interest in the Premises or any part thereaf, now or hereafter existing, and all rents, issues and pro�ts
<br />(the "Rents") now or hereaf�er arising from Assignor's interest in the Premis�s or any part thereof, all in accordance with the terms and
<br />conditions set forth herein.
<br />NOW, TH�REFORE, for and in consideration of the agreement of Assignee to make the Loan and as ADDITIONA[, SECURITY for the
<br />payment of the Note, Assignor agrees as follows:
<br />Assi nment of Leases. Assignar hereby assigns, transfers and set over to Assignee, and any subsequent holder of the Note, all
<br />Assignor's right, title and interest in and to all Leases and all renewals or extensions thereof, togethor with all the Rents, now
<br />existing or hereafter arising. Prior to the election of Assignee to collect the Rents upan the pccurrence of an Event of Default under
<br />the Deed of Trust, Assignor shall have the right to collect and dispose of the Rents without restriction. Further, Assignor, as
<br />Landlord under any Lease which prahibits assignment, hereby grants such consent, as may be required by any I.ease, to tha
<br />assignment, transfer, and encumbrance of the Lease to the Assignee.
<br />Deliver�of the Leases. All Leases currently in effect with respect to the Premises have been delivered to Assignee, are in full force
<br />and effect as of the date of this AssignmenC and neither Assignor nor any tenant is in default thereunder. Assignor shall nat maka
<br />any subsoquent agreement for the lease of the Premises ar any part thereof except in the ardinary course of business in accordance
<br />with the provisions of the Deed of Trust. All such subsequent Leases shall be subject to the prior written approval af Assignee,
<br />which approval shall not be unreasonably withheld, in accordance with the provisions of the Deed of Trust.
<br />No Modification af the Leases. Without thc prior written consent of Assignee, which consent shall not be unreasonably withheld,
<br />Assignor shall nat:
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<br />A. Canccl, terminate or accept any surrender af the Leases;
<br />B. Accept any prepayments for more than (30) days of installments af rent under any of the Leases;
<br />Modify or abridge any of the terms, covenants and conditions of any of the Leases so as to reduce the terms thereof or the
<br />rental payments thereunder; or
<br />Change any renewal privileges contained in any of the Leases.
<br />4. Representations and Warranties. Assignor represents and warrants that:
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<br />A. Assignor has not previously sold, assigned, transferred, mortgaged or pledged the Leases ar the Rents, whether now due or
<br />hereafter to become due;
<br />$. The Rents now duc or to beoama due for any periads subsequent to the date hereaf have not been collected and payment
<br />thereof has not been anticipated for a period of more than one (l ) month in advance, waived or released, discounted, set off or
<br />otherwise discharged or compramised except as set forth in the Leases;
<br />It has not received any funds or deposits from any tenant for which credit has not already been made on account of accrued
<br />incomo other than the securiry deposits pravided for in the Leases;
<br />It has not received any bona fide and acceptable offer to purchase the Premises or any part thereof which would in any way
<br />affect any right of option of first refusal ta purchase all or any partion of the Premises now contained in any Lease; and
<br />It has not done anything which might prevent Assignee from or limit Assignee in operating under or enforcing any of the
<br />provisions hereof.
<br />Assignor shall act in good faith to enforce or secure the performance of each and every obligation, covenant, condition and agreement to be
<br />performed by any tenants under all the Leases.
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