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ASSIGNMENT OF RENTS 2 p 1� 0 3 4 5 9 Page 3
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<br />Stete of Nebraska.
<br />Joint and Several Liability. All obligations of Grantor under this Assignment shall be joint and several, and all references to Grantor
<br />shall mean each and every Grantor. This meens that each Grantor signing below is responsible for all obligations in this Assignment.
<br />Merger. There shall be no merger of the interest or estate creatad 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. (1) In ell cases where there is more than one Borrower or Grantor, then all words used in this Assignment in the
<br />singular shall be deemed to have been used in the plural where the context and construction so require. (2! 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 one 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 lewsuit. (3) The names given to paragrephs or sections in this Assignment are for
<br />convenience purposes only. They are not to be used to interpret or define the provisions of this Assignment.
<br />No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Assignment unless such waiver ia given in
<br />writing and signed by Lender. No delay or omission on the pert 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 />nor any course of dealing between Lender and Grantor, shall constitute a weiver of any of Lender's rights or of any of Grantor's
<br />obligations 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 constftute 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 actualiy
<br />delivered, when actually received by telefacsimile (unless otherwise required by law), when deposited with a nationally recognized
<br />overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid,
<br />directed to the eddresses shown near the beginning of this Assignment. Any party may change its address for notices under this
<br />Assignment by giving formai written notice to the other parties, specifying that the purpose of the notice is to change the party's
<br />address. For notica purposes, Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise
<br />providad 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 verious agencies and powers of attorney conveyed on Lender under this Assignment are granted for
<br />purposes of security and mey not be revoked by Grentor until such time as the same are renounced by Lender.
<br />Severability. If a court of competent jurisdiction finds any provision of this Assignment to be illegal, invalid, or unenforceable as to
<br />any person o� circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable es to any other person
<br />or circumstance. If feasible, the offending provision shall be consfdered modified so that it becomes legal, valid and enforceable. If
<br />the offending provision cannot be so modified, it shall be considered deleted from this Assignment. Unless otherwise required by law,
<br />the iliegality, invalidity, or unenforceability of any provision of this Assignment shall not affect the legelity, validity or entorceability of
<br />any other provision of this Assignment.
<br />Successors and Assigns. Subject to any limitations steted 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 Grentor, Lender, without notice to Grantor, may deal with Grentor's successors with reference to this Assignment
<br />and the Indebtedness by way of forbearance or extension without releasing Grantor from the obligations of this Assignment or liability
<br />underthelndebtedness.
<br />Time is of tha Essenca. Time is of the essence in the performance of this Assignment.
<br />Waive� of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the
<br />State of Nebraska as to all Indebtedness secured by this Assignment.
<br />DEFINITIONS. The following capitalized words and terms shsll have the following meanings when used in this Assignment. Unlass
<br />specifically stated to the contrary, all references to dolla� amounts shall mean amounts in lewful money of the United States of America.
<br />Words and terms used in the singular shall include the plural, and the plural shell include the singular, es 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 or
<br />modified from 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 Mark K. Oberbeck and Paula C. Oberbeck.
<br />Default. The word "Default" means the Default set forth in this Assignment in the section titled "Default".
<br />Event of Default. The words "Event of Default" mean any of the events of default set forth in this Assignment in the default section
<br />of this Assignment.
<br />Grantor. The word "Grantor" means Mark K. Obarbeck and Paula C. Oberbeck.
<br />Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodetion party to Lender, including
<br />without limitation a guaranty of all or part of the Note.
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note
<br />or Related Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note
<br />or Related Documents 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 Platte Valley State Bank & Trust Company, its successors and assigns.
<br />Note The word ^►vote^ means the promissory note deted May 5 , 20� �, in the original principal amount of 543,875.00
<br />from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and
<br />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 es described in the
<br />"Assignment" section of this Assignment.
<br />Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental
<br />agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, colleteral mortgages, and all other
<br />instruments, agreements and documents, whether now or hereafte� existing, executed in connection with the Indebtedness.
<br />Rents. The word "Rents" means all of Grantor's present and future rights, title and interest in, to and under eny and all present and
<br />future leases, including, without limitation, all rents, revenue, income, issues, royalties, bonuses, accounts receivable, cesh 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 and nature, whether due now or Ister, including without limitation Grantor's right to enforce such leases and to
<br />receive and collect payment and proceeds thereunder.
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