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201201590
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Last modified
3/19/2012 3:48:43 PM
Creation date
3/1/2012 8:50:41 AM
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DEEDS
Inst Number
201201590
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201201590 <br />(v) Payment and performance of all obligations of Borrowers arising <br />from any Interest Rate Agreements; <br />(vi) Payment and performance of all future advances and other <br />obligations that any Bonower or any successor in ownership �of all or part of the <br />Property may agree to pay and/or perform (whether as principal, surety or <br />guarantor) for the benefit of Beneficiary, when a writing evidences the parties' <br />agreement that the advance or obligation be secured by this Deed of Trust; and <br />(vii) Payment and performance of all modifications, amendments, <br />e�ctensions, and renewals, however evidenced, of any of the Secured Obligations. <br />(b) All persons who may have or acquire an interest in all or any part of the <br />Property will be considered to have notice of, and will be bound by, the terms of the <br />Secured Obligations and each other agreement or instivment made or entered into in <br />connection with each of the Secured Obligations. Such terms include any provisions in <br />the Note or the Loan Agreement which permit borrowing, repayment and reborrowing, or <br />which provide that the interest rate on one or more of the Secured Obligations may vary <br />from time to time. <br />2. Assi�nment of Rents. <br />2.1 Assi n�ent. Grantor hereby irrevocably, absolutely, presently and <br />unconditionally assigns to Beneficiary all rents, royalties, issues, profits, revenue, income, <br />accounts, proceeds and other benefits of the Property, whether now due, past due or to become <br />due, including all prepaid rents and security deposits (some or all collectively, as the context may <br />require, "Rents"). This is an absolute assignment, not an assignment for security only. This <br />assignment is made pursuant to Neb. Rev. Stat. §52-1701, et. seq., and the Secured Obligations <br />and any future advances and protective advances are secured by present, future and after-arising <br />or acquired Property. <br />2.2 Grant of License. Subject to the terms of the Management Agreement, <br />Beneficiary hereby confers upon Grantor a license ("License") to collect and retain the Rents as <br />they become due and payable, so long as no Event of Default, as defined in Section 6.2 below, <br />shall exist and be continuing. If an Event of Default has occurred and is continuing, Beneficiary <br />shall have the right, which it may choose to exercise in its sole discretion, to terminate this <br />License without notice to or demand upon Grantor, and without regard to the adequacy of <br />Beneficiary's security under this Deed of Trust. <br />2.3 Collection and A�,plication of Rents Subject to the License granted to Grantor <br />under Section 2.2 above and the terms of the Management Agreement, Beneficiary has the right, <br />power and authority to collect any and all Rents. Grantor hereby appoints Beneficiary its <br />attorney-in-fact to perform any and all of the following acts, if and at the times when Beneficiary <br />in its sole discretion may so choose: <br />(a) Demand, receive and enforce payment of any and all Rents; or <br />(b) Give receipts, releases and satisfactions for any and all Rents; or <br />DEED OF TRUST — Page 4 <br />#3982161 <br />
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