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<br /> 134�
<br /> I�II�CELI�AN�OU� RECOR.D V
<br /> 29088-TNEIIUGOSTINECO.ORIINDISLAND,XEBR. � ��
<br /> �a) Permit the owner to remain in possession of the above described nremises for the
<br /> remainder of the origin�.l amortization period of 'the water facility im�rovement loan �rovid-
<br /> ing said owner will enter into a lease for said premises satisf actory to the one entitled to
<br /> �ossession and the Farmers Home Administration, PROVIDED HO'�IEVER that if the original amor-
<br /> tiZation neriod remaining under said water facility improvement loan is greater than five
<br /> years, the one entitled to possession may, upon the expiration of said five yea.rs, or a.t any
<br /> time thereafter, pay the unexhausted residual value or the amount remaining unpaid on the
<br /> water facility loan, which-ever is the lessor; for the benef it of the� person entitled there-
<br /> to and by so doing obtain all interests that said person may have in sa.id prem�se�, thereby
<br /> terminating said lease; or
<br /> (b) Lease said bremises under the terms and conditions specified in subparagraph (a)
<br /> hereof to a person satisfactory to the one entitled to possession and the Farmers Home
<br /> Administration who will assume and agree to pay to the said Farmers Home Administration the
<br /> balance remaining un�aid on the obligation incurred for the installation of the improvement,
<br /> and also pay to the owner, the amount, if any; by which the unexhausted residual value of the
<br /> facility exceeds such balance ret��ining unpaid; or
<br /> ( c) Pay the une�austed residual value of the facility or the balance remaining unpaid
<br /> under� the water facility improvement loan with the Farmers Home Administration, whichever is
<br /> the lesser.
<br /> In all cases the unexhausted residual value of said facility is to be determined by three
<br /> appraisers: One appraiser to be apnoint�d by t'r7e one required to make payment hereunder,•
<br /> an d one by the tenant; and the third to be appointed hy the t�ao so appointed.
<br /> Any payments made hereunder shall be made to the Farmers Home Administration Por tne
<br /> benefit of the per3on entitled thereto.
<br /> This agreernent sha11 be binding upon the successors, assigns, agents and princi�als of
<br /> the undersigned a,nc� shall be for the benefit of the owner ana his heirs, administrators,
<br /> executors and assigns.
<br /> IN ?°TITNESS '�iEF�EOF, the undersi�ned has executed this instrument this 25 day of July,
<br /> 1947.
<br /> THE FEDERAL LAND BANK OF �MAHA
<br /> WITNESSES: By H. A. Viergu�Gz, Vice President
<br /> Gladys Reineke
<br /> Filed for record the 1� day of August, 19�7 at 10 :45 0 �clock A.M. ���.-��� �
<br /> t�egis'ter of �eeds. .
<br /> o-o-o-o-o-o-o-o-o-o-o-o-o-o-o-o-o-o-o-o-o-o --c-o-o-o-o-o-o-o-o-o-o-o-o-o-o-o-o-o-o-o-n-�-o-o
<br /> ASSIGNM�NT OF RENTS
<br /> ASSIaNMENT OF RENTS
<br /> KNOW ALL MEN BY iHESE PRESENTS:That we, the underaigned Russell 1�. Carpenter and Ma,rgaret
<br /> R. Carpenter, H�sband and Wife, each in his and her own right of (�rand �sland, County af Ha11,
<br /> State of Nebraska for and in consideration of EIaHT THOUSAND SE�'EN HUNDRED AND 1�O�lt��
<br /> DOLLARS to us as a loan in hand paid by Union National Life Insurance Company of Lincoln,
<br /> in the County of Lancaster and State of Nebraska;and other good and valuable considera'�ion,
<br /> d
<br /> r b kn d d o hereb assi n tr nsf nd
<br /> the recei t whereof is he e ac owle e y g a er a set over to Union
<br />� P Y g � , ,
<br /> National Life Insuranee Company as collateral security for said loan, Por aQ long as said
<br /> loan or any pa,rt thereoP remains unpaid, the rents and revenue accruing Yor the period o�' * _
<br /> the duration of the loan above mentioned,upon the following de8cribed property situa'�ed
<br /> II'�, in Gounty of Hall, State oP Nebraska, to-wit:
<br /> Lot Twanty (20) in Block Three (3) , Meves First Addition to the City oP (�rand Island,Hall
<br /> Coun�y, Nebraska.
<br /> And we hereby authorize and empower Union Aa�ional Life Insuranc�,�C�ompany to act Por us,
<br /> and rent the above described premises or any part thereof,and in�place collect and receipt
<br /> Por said rent, either monthly, quarterly or yearly, as it may see fit, and in default of the
<br /> payment of said rent or any part thereof to proeeed in its own name by suit or suits at
<br /> law for the recovery thereof in such manner as it shall deem Pi'�.
<br /> This assignment if rent is being made Por the express purpose of having the rent collected
<br /> hereunder applied to paymenta oP principal. interest and fines on the loan of ��, 700.00
<br /> above described, as agreed by us to be paid in the real estate mortgage on the property
<br /> above described securing said loan.
<br /> �
<br /> � Said Assignee may, in �ts discretion,use the rents so far as neeessary for the purpose of
<br />' � making such repairs upon the premisea as, in its �judgment, may be proper and may use said
<br /> � rents so far as necessary for the payment of insu�ance premiums and taxes upon said prem-
<br /> ises,or any other paymenta to be made by us under the terms of the mortgage above mentioned,
<br /> (1 the balance to be applied upon the payment of' monthly dues, interest and fines on said
<br /> vi certificate and loan.
<br /> o�
<br /> � This assignment and transfer of' rents and revenue to be absolute to the extent of the
<br /> total of the payments above mentioned from and after thls da,te.
<br /> Dated this 20th day of August A.D.1947.
<br /> � Rus s ell W. Car-p en t er
<br /> Witnessest Margaret R. Carpenter
<br /> � Ruth �wanson
<br /> State of Nebraska )
<br /> ) ss. On this 21st da.y oP August A. D.19�+7, before me, the aubscriber, a
<br /> Ha11 County ) Notary Public, duly commissioned and qualiPied for and residing
<br /> in said County ot Hall personally appeared Russell W. Ca.rpenter
<br /> and Margar et R. Carpenter,Husband and Wif e, each in his and her own right to me known to be
<br /> the identical persons described in and who ex�cuted the foregoing instrument as grantor
<br /> and he severally acknowledged the said instrument to be th�;ir vol��tary act and deed. �'
<br /> IN WITNESS UIHEREOF, � have hereunto set my hand and Notarial Seal at Grand Island in said I
<br /> County, the day and year last above written. {SEAL) Ruth Swans , Notary lic
<br /> My Commission expires Aug.1�,1950 ����� �
<br /> Filed Por record this 23 day of August, 1947, at 11: 50 0 � clock A.M. �egis er of eS�ec s'� �
<br />
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