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<br /> 11�gSC]��,LAI�TEO�JS R�CORD S
<br /> Txe�uousr��eeo.�z�e�
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<br /> 'A55IGNMENT OF RENTS �
<br /> KNO�� ALL �2EN BY THESE PRESET?TS , Th�.t vrhereas the undereigned, Pearl D.WiIIis and Zelma V'�illis,
<br /> husband and vrife, are indebted to EQUITABLE LIFE INSURANCE CONIPANY OF IOV`1A, DES �IOINE9, IOWA, in th�
<br /> principa.l sum of Five Thousand Five F-iundred and no/100 dollars, and interest thereon as evidenced
<br /> by one repayment contr�.ct of date February �, �93�, and seeured by mortgage to the said Equitable
<br /> L1fe Insurance Company of IovTa, of date Febr. �-, 19j�, on the following described property situate�d
<br /> in the County of Hall and State of Nebraska, to-�rit : Lot 7, BZock 6, in �onnie Brae Addition to '
<br /> Gr�nd IGland; and also the Atorrh �6.3 Peet oP Lot 6, Block 46, in Russel Wheeler 's Addition to
<br /> Gran�. Island, HaII County, Nebraska, together vrith a right of way for the purpose of a d.tiveway over
<br /> the North four f eet of South �5.7 of said Lot 6.
<br /> NOV`1, THEREFORE, �n consideration of the aforesaid a.nd of� the said Equitable Life Insurance Company
<br /> of Iov�a mak3ng the �bove �entioned mortgage loan to the unde�signed and the further consideration
<br /> oP one (1) dollar in hand paid to the undersigned, vre , the said Fearl D.Willis and Zelm�, Willis,
<br /> husban� �.nd cvi�'e, do hereby agree with the said Equitable Life Insurance Company af Iovra that
<br /> until the s�id mor�g�,�e loan aforementioned shall be fully paid as provided in seid contr�,ct and
<br /> mort�age, all rents maturing or payable from tenants oP the � a.id property, present or future, shall
<br /> be payable to the said Equitable LiPe Insurance Company of Iowa, to apply on the said loan v�heneve�r
<br /> and so long as derrq.nd therefor may be made by said Company; and do hereby assign to the said Com- �
<br /> pany all rents which mt�.y become due or oaving from any and all tenants of the said property under
<br /> any le�.ses or t en�.nc3:es no�r existing or which may be hereafter created, until �aid loan ahall be
<br /> fu1.Iy paid, and do hereby authorize and dlrect such tenant or tenants to pay to the said Company
<br /> all rents which may be due or payable by such tenant or tenan�s upon demand being ma.de therePor '
<br /> by the saia. Gompany. - �
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<br /> � U'e further agree that if dePault occurs in the fulZ and complete performance of any of the a.gree-
<br /> menta coven�.nts and promises in s�.ici contract and/or ma�tg�?.ge above referred to, and such dePault �
<br /> � continues for a period of thirty (30) days, on demand af the s �id Company we will deliver to it a1;1
<br /> � then existin�; leases covering the premises above described or any pa.rt thereof, and this assignmer�t
<br /> oP rents sh�.Il be construed as an assignment of all such leases to said Company. �
<br /> And we further agree that said Company may from time to time appoint and dismiss agents f or the caire
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<br /> � oP the $aid �roperty, and gran� to any such agent or agents so appointed full and irrevocable authl-
<br /> ority on our beh�.IP to manage the property and do alI acts relating to $uch ma.nagement, including :
<br /> among others the making of rievn I.eases (vrithout obligation so to do.) , the alteration or amendment q�'
<br /> (� existing leases, the authorization of repairs or replacements to maint�zin the building or buildin�s
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<br /> and chattels situated on s�,id property in good and tenantable condition, the purchase out of the '
<br /> renta of such additional furniture and equip mPnt as the Company in its sole discretion may deem �
<br /> necessary to the maintenance of �. proper rental v alue of the property, and the payment of aIl taxas,
<br /> asses�Ments and premiums of fire, tornado and liabilitv insurance ; and that all rents c�llected by�
<br /> such agent or agents, after p�,yment of the costs of coll.ection thereof, costs of management, inclUd-
<br /> ing such �.gent or aGents � compensation, repai•rs aric� upkeep of said property, and payment af all.
<br /> taxes, assessmenta And insur�.nce premiums, shall be payable to the said Company to apply on said '
<br /> mortgage debt, such agent to furni4h a good and sufficient surety bond to cover his accounting for►
<br /> � all rentals �by him coll.eeted, the premium for which surety bond is to be charged. as a part of the �
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<br /> management expenses. �
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<br /> And it is further understood and a.greed that the said Company under this assignment is in r.o�aise ',
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<br /> assuming, nor shal.l it assume or be held Por any responsibility or liability for the collection of�
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<br /> any rent� ar income from the said property, or �.ny responsibllity or li�bility for the care or ;•
<br /> rnaintena.nce of s�,i�. property or keeping the same rented, or any responsibility or Ziability for !
<br /> or in connection v�rith any act or acts of �.ny agent managing sa,id property; and is and shall__b�_.�� -
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