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<br /> 11�I �C��LAI�1E(J�J S R�C OR]D S
<br /> TNEAUCUITINEC0.12787
<br /> "That p�.rt of Lots 7 and � in Block 65 in the Original Town, now City, oP Grand Island, described
<br /> as follows : Commencin�; at the northeasterly corner of Lot Eight in Block Sixty-five in the Original
<br /> Tov�rn, noa� City of Grand Island, as shown by the recorded plat thereof, running thence southerly
<br /> alon� the easterly line of said Zot fifty-five feet, thence westerly at right angles ni.nety-nine
<br /> feet parallel with the south line of said block, thence northerly at a right angle fifty-five feet
<br />' parallel wi�h the easterly Iine of said block to the northerly 11ne of Lot Seven in said block,
<br /> thence easterly along the northerly line of said Lots Seven and Eight ninety-nine feet to the point
<br /> of beginning; also the easterly t�o-thirds (2/3) of Lot Six and the westerly one-third ( 1/3) of
<br /> Lot Seven in Block Sixty-six in the Original Tov�rn, now City, of Grand Island;"
<br /> and,
<br /> WHE�AS, said �econd party de4lres furtrler security for the payment of the principal of said laan
<br /> and interest thereon r�nd taxes and special assessments which are, or may be, asQessed a�ainst said
<br /> property a9 they become due respectively: •
<br /> N01�, THEREFORE, in consideration of the making of said loan by s�id second party, and in further
<br /> consideration of the sum of One Dollar ( �1.00) receipt of which is hereby acknowledged, s�.id
<br /> first partie9 do hereby assign and convey unto the second party, its successors or as�igns, a17.
<br /> of the rent, issues and profits Prom the real estate �bove described, now due and which may here-
<br /> aPter become due under or by virtue of any written or verbal lease, sub,�ect to the followino t�erms
<br /> and conditions , to-wit: �
<br /> If �.ny insta].I.ment of principal. or lnterest on said I.oan shail become and remain delinquent for a
<br /> period of 20 days, or if the taxes or special assesaments shall become delinquent, or if default
<br /> be made in the pa,yment of fire or tornado insurance premiums, or in the performance of any other
<br /> of the covenants and agreementa contained, in the mortgage above rePerred ta, the parties of the
<br /> first x�art, their succes4ors or asGigns, shall deliver to the said second party or its assigns
<br /> all existin� leases to said above described �emises, and this a,sslgnment of rents shall be con-
<br /> atrued as an assi�nment of aII such leases to the said second party, and said second party or its `
<br /> r rties• To collect the rents Prom ai �
<br /> assigns is authorized as the a,gent of the said fi st pa . s d
<br /> property; to e�ject tenants Por breach of the conditions �of their leases, and without any obli�a�ion
<br /> so to do, to enter into leases with, and to lease said property or any part thereof to te na,nts,
<br /> at such rental anc� upon such terms as said second party or its assigns may determine ; to sue fm'.r'
<br /> unpaid rents in the name of the first partiea, or in the name of the second party or its aseigns;
<br /> to compromise and give acquittance for auch rental as may be due at the time this assignment takes.
<br /> ef°ect, or thereafter, upon �uch basis as eaid second party or its assigna may determine.
<br /> For its services as such agent, the party of the second part or its assigns shall receive the
<br /> usual and customary Pees for such services in effect in the City of Grand Island,Nebraska, at the
<br /> time �aid services are performed.
<br /> The rents and Y>rofits collected by said second party or ita assigns, as such agent, shall be appli.ed
<br /> a9 follows :
<br /> I. To the payment of the operatin� expense of said property, including cost of management and ee-
<br /> tablished claimR for d�.mages, if an��, and premiums on such fire, tornac�o, and liability insurance ,
<br /> as the said �econd party or its assi�na may deem necessary.
<br /> 2. To �he payment �or services and expenses in connection with the rental of said premises, includ-
<br /> in� attorney ' B fees incurred by the said second party or its assigns, in connection with the enforee-
<br /> ment of this agreement.
<br /> 3. To the payment of taxes and special asaessments which may become due an d delinquent on said
<br /> property.
<br /> 4. To the payment of bills for reasonable ax:d necessary repairs on said property.
<br /> ' S. To the payment oP interest on said loan, which may become due and delinquent.
<br /> 6. To the payment of ar�y installment of principal of said Loan, which may become due a nd delinquer�t.
<br /> 7. Any amount remaining after payments have been made a� abone provided shall be paid to the
<br /> parties of the first part.
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<br /> �. IT IS FURTHER UNDERSToOD AND AGREED that while this assignment is in force and effect, the said
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