Laserfiche WebLink
ASSIGNI NT OF HINTS <br /> In consideration of ONE-DOLLAR ( 1.00) and other valuable <br /> consideration, 'in hand paid, the receipt of which is hereby acknowledged, <br /> and for t he purpose of more fully securing the. payment of one certain <br /> Promissory Note of even date herewith in the original principal sum of <br /> Eighteen thousand and no/100 DOLLARS ($ 18,000.00 ), <br /> executed by the undersigned to the order of THE OHIO NATIONAL LIFE <br /> INSURANCE COMPANY of Cincinnati, Ohio, which said Note is secured by a <br /> Mortgage on the following described real property, situate in Hall <br /> County, Nebraska, to-wit: <br /> All of Lots One (1) and Three (3), Block 26 of, <br /> Gilberts 3rd Addition to the City of Grand Island, <br /> Hall County, Nebraska, <br /> the undersigned, maker of said Note and said Mortgage, and the owner <br /> of said property, does hereby assign, transfer and set over to THE <br /> OHIO NATIONAL LIFE INSURANCE COMPANY all of the rents, issues, incomes <br /> and profits of the hereinabove described property due and to become <br /> due to the undersigned under and by virtue of the terms of a certain <br /> lease, dated August 18th, 1954, by and between the undersigned as Lessor <br /> and Standard Oil Company, an Indiana corporation, as Lessee, under the <br /> terms and conditions as hereinafter set forth. <br /> I. <br /> Standard Oil Company is hereby authorized and directed to pay <br /> to THE OHIO NATIONAL LIFE INSURANCE O,OMPANY, at its office in Omaha, <br /> Nebraska, any and all amounts becoming due from the Lessee to the Lessor <br /> under the terms of said Lease and payment of any such moneys to THE <br /> OHIO NATIONAL LIFE INSURANCE COMPANY shall be and constitute payment to <br /> the Lessor in said Lease. <br /> II. <br /> THE OHIO NATIONAL LIFE INSURANCE COMPANY shall make application <br /> of the amounts received by it from Standard Oil O mpany as follows; <br /> 1. To the payment to the holder of said Note and said <br /> Mortgage of the monthly payments becoming due by the <br /> terms of said Note. <br /> 2. To the creation of an Escrow Fund for the pa lent - <br /> of any and all taxes levied and assessed against • <br /> said premises when the same become due and the payment <br /> of premiums for insurance covering said premises when . <br /> the same become due. 40J' <br /> 3. Any balance out of the amounts received by the OHIO ' 'a <br /> NATIONAL LIFE INSURANCE COMPANY shall be applied by <br /> it upon the principal of said Loan. <br /> III. <br /> Out of the Escrow Fund created for the payment of taxes'and <br /> insurance premiums, THE OHIO NATIONAL LIFE INSURANCE COMPANY shallpay <br /> such taxes and insurance premiums when the same become due, and in the <br /> event the amount in said Escrow Fund shall be insufficient for the pay- <br /> ment of any such taxes or insurance premiums, the undersigned shall pay <br /> any deficiency therein to 733E OHIO NATIONAL LIFE INSURANCE COMPANY on <br /> demand. <br /> • <br /> -1• <br />