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<br /> �ISC]EL�,AI��O�S ��� OR]� '�'
<br /> 17b04—The Auguatine Co., County SuppHes, Grand Ieland, Nebr. _.
<br /> ASSIGNMENT OF RE�1TS �
<br /> This Assignmen� of Rents ePfective only in ease of defaults in interest,
<br /> taxes or principal payments.
<br /> KNOW ALL MEN BY THESE PRESENTS:
<br /> , We, James A.M��helson and Imogene Miehelson, oP Hall County, Nebraska, having hereto�or
<br /> made apnlication to the Nebraska Loan & Trust Company, oY arand T$land, Nebraska, for a loan
<br /> on the premises described below, and in eonsideration of the said Trust Company making said
<br /> loan and for other good and valuabl� consideration, receipt whereof is hereby acknowledged,
<br /> do hereby assign, transfer to said Nebr�aska Loan & Trust Company as additional securi'Gy
<br /> f'or said loa� on the rents, income and profits arising ou'G of the premises described as
<br /> follows, to—wit :
<br /> Lot Seven �7) , in B1ock gixty—three �6�) , in the 4riginal Town, now City, of Grand
<br /> I�land, N�braska, as surveyed, platted and recorded.
<br /> Thi� assignment of rents is made for the express purpose of having the income Prom the
<br /> said premises applied to the repayment of the above described loan and the interest thereon,
<br /> delinquent '�axes, and insurance premiums which may be charged against the above premises. �
<br /> `�aid Company may, in its discretion, use said rents for the payment of said loan or the
<br /> accrued interesb thereon or delinquent taxes or payment of insuranee premiums as it may deem
<br /> best. �
<br /> We, hereby au'Ghorize and empower the Nebraska Loan & Trust Company its officers, agents 2�
<br /> or Attorneys to act Por us in the colleetion of the rent from all of said premises and to
<br /> receipt for said rent and to agree upon the priees of the rental to be paid, and look after e�.
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<br /> the renting of said premises. �
<br /> IT IS F'URTHER AGREED Tha� iP �he undersigned assignors or their successors, oecupy said
<br /> premises during the existence of said loan, the Assignee, �hall have �he same rights of �
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<br /> forfeiture, e,�ectment fo� f'orcible entry and detainer and such other actions as it would �
<br /> have against any tenant oeeupying said premises and having no interest therein. The Truat
<br /> Company may have the right to waive the colleetion of any part of said rent and if it does
<br /> so, it shall not be construed as constituting a relinquishment of any of the rights given
<br /> under this assignment, but said rights may bE exercised at any time said Trust Company deems
<br /> it a.dvisa�le to do so and said rights shall continue so long as the mortgage or interes'�
<br /> or any part the�ec�f remains a lien against said premises.
<br /> I2 IS FURTHER AaREED That the said Trust Company shall not be liable for the loss oP the
<br /> eollection of any rents and said �ompany is only r�quired to use reasonable diligence in
<br /> collecting said rents and in the management oP said property. The Trust Company shall have
<br /> the right to deduct from said rents a Pair and reasonable compensation, such as expense,
<br /> Court �oste, and eolleetion costs, which are incurred during the term of this assi�nment
<br /> �nd after deducting �'or the services, Court eosts, and other expenses incurred, the balance
<br /> shall be ap?�lied to the p�.yment of the balance due on said loan, or interest, or taxes, or
<br /> insurance premiums in the manner in which said Trust Company shall deem best.
<br /> �'his assignment shall be 3.rrevocabl� and ahall remain in Porce until the above des—
<br /> cribed loan and interest, delinquent taxes and insurance premiums thereon shall be paid
<br /> and until said mortgage is satisfied in full and released.
<br /> Dated at Grand Islancl, this �Oth day of June, 19�+1. ,
<br /> Jaraes A.Michelson
<br /> WITNE5g; Imo�ene �ichelson
<br /> Ruth Swanson
<br /> STATE �F NEBRASKA ) On this �Oth day of June, 1941, before me the underaigned,
<br /> ) ss.
<br /> HALL COUNTY ) Ruth Swanson, a Notary Public, duly commissioned and qualified
<br /> for and resSding in eaid county, personally came James A.Michelson and Imogene Michelson,
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