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<br />200204092
<br />Space Above This Line For Recording Data
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<br />ASSIGNMENT OF LEASES AND RENTS S�
<br />DATE AND PARTIES. The date of this Assignment of Leases and Rents (Assignment) is April 10, 2002. The
<br />parties and their addresses are:
<br />ASSIGNOR:
<br />SHAFER DEVELOPMENT LLC
<br />a Nebraska Limited Liability Company
<br />819 N. Diets Avenue
<br />Grand Island, Nebraska 68803
<br />LENDER:
<br />PLATTE VALLEY STATE BANK 8, TRUST COMPANY
<br />Organized and existing under the laws of Nebraska
<br />2223 Second Ave,; PO Box 430
<br />Kearney, Nebraska 68848 -0430
<br />TIN: 47- 0343902
<br />1. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Assignment at any one time will
<br />not exceed $1,008,370.41. This limitation of amount does not include interest and other fees and charges
<br />validly made pursuant to this Assignment. Also, this limitation does not apply to advances made under the
<br />terms of this Assignment to protect Lender's security and to perform any of the covenants contained in this
<br />Assignment.
<br />2. SECURED DEBTS. This Assignment will secure the following Secured Debts:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note, No. 233217 -103, dated April 10, 2002, from Assignor to Lender, with a
<br />loan amount of $1,008,370.41 with an interest rate based on the then current index value as the promissory
<br />note prescribes and maturing on April 10, 2007,
<br />B. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this
<br />Assignment.
<br />3. ASSIGNMENT OF LEASES AND RENTS. For good and valuable consideration, the receipt and sufficiency of
<br />which is acknowledged, and to secure the Secured Debts and Assignor's performance under this Assignment,
<br />Assignor assigns, grants and conveys to Lender as additional security all the right, title and interest in the
<br />following (all referred to as Property).
<br />A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for
<br />the use and occupancy of the Property, including any extensions, renewals, modifications or replacements
<br />(all referred to as Leases).
<br />B. Rents, issues and profits (all referred to as Rents), including but not limited to security deposits, minimum
<br />rent, percentage rent, additional rent, common area maintenance charges, parking charges, real estate taxes,
<br />other applicable taxes, insurance premium contributions, liquidated damages following default, cancellation
<br />premiums, "loss of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts,
<br />contract rights, general intangibles, and all rights and claims which Assignor may have regarding the
<br />Property.
<br />C. The term Property as used in this Assignment shall include the following described real property:
<br />Lot Two (2), Crane Valley Second Subdivision, in the City of Grand Island, Hall County, Nebraska
<br />The property is located in Hall County at 819 N. Diers Avenue, Grand Island, Nebraska 68803.
<br />In the event any item listed as Leases or Rents is determined to be personal property, this Assignment will also
<br />be regarded as a security agreement.
<br />4. PAYMENTS. Assignor agrees that all pa,,menls under the Secured Debts will be paid when due and in
<br />accordance with the terms of the Secured Debts and this Assignment.
<br />Shafer Development LLC
<br />Nebraska Assignment W Leeaae and Rent Initials _
<br />NE1 4x x1446950052980D003 5 28 02404100 2T 07996 all Systems, Inc., Sc Cloud, MN Firr { Pege 1
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<br />Space Above This Line For Recording Data
<br />�J
<br />ASSIGNMENT OF LEASES AND RENTS S�
<br />DATE AND PARTIES. The date of this Assignment of Leases and Rents (Assignment) is April 10, 2002. The
<br />parties and their addresses are:
<br />ASSIGNOR:
<br />SHAFER DEVELOPMENT LLC
<br />a Nebraska Limited Liability Company
<br />819 N. Diets Avenue
<br />Grand Island, Nebraska 68803
<br />LENDER:
<br />PLATTE VALLEY STATE BANK 8, TRUST COMPANY
<br />Organized and existing under the laws of Nebraska
<br />2223 Second Ave,; PO Box 430
<br />Kearney, Nebraska 68848 -0430
<br />TIN: 47- 0343902
<br />1. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Assignment at any one time will
<br />not exceed $1,008,370.41. This limitation of amount does not include interest and other fees and charges
<br />validly made pursuant to this Assignment. Also, this limitation does not apply to advances made under the
<br />terms of this Assignment to protect Lender's security and to perform any of the covenants contained in this
<br />Assignment.
<br />2. SECURED DEBTS. This Assignment will secure the following Secured Debts:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note, No. 233217 -103, dated April 10, 2002, from Assignor to Lender, with a
<br />loan amount of $1,008,370.41 with an interest rate based on the then current index value as the promissory
<br />note prescribes and maturing on April 10, 2007,
<br />B. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this
<br />Assignment.
<br />3. ASSIGNMENT OF LEASES AND RENTS. For good and valuable consideration, the receipt and sufficiency of
<br />which is acknowledged, and to secure the Secured Debts and Assignor's performance under this Assignment,
<br />Assignor assigns, grants and conveys to Lender as additional security all the right, title and interest in the
<br />following (all referred to as Property).
<br />A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for
<br />the use and occupancy of the Property, including any extensions, renewals, modifications or replacements
<br />(all referred to as Leases).
<br />B. Rents, issues and profits (all referred to as Rents), including but not limited to security deposits, minimum
<br />rent, percentage rent, additional rent, common area maintenance charges, parking charges, real estate taxes,
<br />other applicable taxes, insurance premium contributions, liquidated damages following default, cancellation
<br />premiums, "loss of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts,
<br />contract rights, general intangibles, and all rights and claims which Assignor may have regarding the
<br />Property.
<br />C. The term Property as used in this Assignment shall include the following described real property:
<br />Lot Two (2), Crane Valley Second Subdivision, in the City of Grand Island, Hall County, Nebraska
<br />The property is located in Hall County at 819 N. Diers Avenue, Grand Island, Nebraska 68803.
<br />In the event any item listed as Leases or Rents is determined to be personal property, this Assignment will also
<br />be regarded as a security agreement.
<br />4. PAYMENTS. Assignor agrees that all pa,,menls under the Secured Debts will be paid when due and in
<br />accordance with the terms of the Secured Debts and this Assignment.
<br />Shafer Development LLC
<br />Nebraska Assignment W Leeaae and Rent Initials _
<br />NE1 4x x1446950052980D003 5 28 02404100 2T 07996 all Systems, Inc., Sc Cloud, MN Firr { Pege 1
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