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<br /> 17604—The Augustine Co., County Supplies, Grand Island, Nebr. . � ,
<br /> ASSIaN1UIENT OF RENTS.,�
<br /> WHEREAS,E1Prieda Bartenbach,a widov�,Helen Connell and �P.YV.Connell,wiPe and husband,George
<br /> �P.Bartenbach and Dorothy I.Bsrtenbach,hueband and wiPe,and Henrietta Ba.rtenbach Baer and
<br /> A.M.Baer,Aife and husband,hereinafter referred to as parties oP the first part,have here-
<br /> toPore applied to American Reeerve Life Insurance Company,a Nebraska corporation,herei.n-
<br /> after rePerred to es party of the eecond part,Por a loan of Fifty Five Thousand Dollars,
<br /> (�55,000.00) ,which esid 'Loan is to be secured by a mortgage oP even date herewith, conveying
<br /> the f'ollowin� described real estate and premises,situate in the County of Hall and State
<br /> oP Nebraska, to-wit:Lot One (1) in Block 3ixty-five ( 65) in the Original Town,now C3ty,of
<br /> Gr�nd Island, and, WHEREAS, said second party deaires further security for the payment of
<br /> the prineipa2 of esid Ioan and interest thereon,and taxes and special a8sesements whioh
<br /> are,or may be aesessed against said property,as they become due respectively:
<br /> ATO�,THEREFORE,IN CON3SDERATION oP the making of aaid loan by ,�aid second party,and in ` ` .
<br /> i Purther consideration oP the sum oY One Dollax,reee3pt oP v�hich is hereby acknowledged,said
<br /> Pirst parties do hereby assi�n and aonvey unto the second party-, it8 successors e.nd ass3gna, �
<br /> alI oP the renta, issues and proPita f'rom the real estate above described,now due and whieh
<br /> may hereaPter become due �ander or by v3.rtue oP any written or verbal lease, sub�ect to the
<br /> � .
<br /> Pollowing terms and conditione,to-wit : �
<br /> IP any instal2ment oP principa.l or interest on said loan ahal.l become and remain delinq-
<br /> uent Por a period of ��renty days,or iP the taxes or special a8sessments shall become de-
<br /> �,,
<br /> linquent,or if dePault be made 3n the payment of' t'ire or tornado insuranee premiums,or in N
<br /> the perPormance o� any other of the covenants and agreementa contained in the mortgage �
<br /> above referred to,the parties oY the first part, their successors or aesigne $ha11 de2lver
<br /> N
<br /> to the sald second party or it8 assigns,all exist3ng leaees to said above described prem- G�
<br /> . . �
<br /> ises,and this asaignrnent of rents sht�,ll be con8trued as an assignment oP all such leaess
<br /> to the said second party,and said second party or its asaigns is authorized as the agent
<br /> of the said firet parties:To col.lect the rents from said property;to e�ect tenants for
<br /> breach of the conditions oP their leases,and without any obligation so to do, to enter into
<br /> leases �►ith,arid to lea�e said property or any part thereoP to tenants,at euch rental and
<br /> upon $uch terms as said second party or its assigna nay determine; to eue Por unpaid rents ,�,
<br /> in the na,me oP the firet part��s,or in the name oP the second party or its aseigne;to eom-
<br /> prvrni8e and gine aequittance for aueh rental ae may be due at the time this aeaignment
<br /> takes effect,or thereaPter,upon such basis as said aecond party or its ass3gns maq determine.
<br /> For ita services as such agent,the party oY the aecond� part or its aesigns aha12 receive
<br /> the usua2 and customary fees for such servicea in effect in the City oP ^�rand Is2and,Neb-
<br /> raska,,at the time said services are perPormed.
<br /> The rents and profits collected by said :� aecond party or ita assigns,as such agent,
<br /> ahall be a�plied ae foll.aws:
<br /> 1.To the payment of the operating expense af said property,including cost of management
<br /> and eatablished claims for damagea,if an�r,and premiums on such firg, tornado and liability
<br /> insuranee as the said second party or ita aeslgne may deem necessary.
<br /> 2.To the payment Por servicee and expenses in connection with the rental oP said premisss,
<br /> ine2uding attorney �s feee incurred by the said second party or tte assigns, 3n conneetion
<br /> with the enPort�ement of thia agreement.
<br /> 3.�'o the paq�nent oP taxes and special asaeasments whieh may become due and delinquent on
<br /> said property,
<br /> 4.To the }�ayment of bills tor reaeonab?e and neces�ary repaira on said property.
<br /> S.To the payment of interest en said loan,which may become due and delinquent.
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