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ASSIGNMENT OF RENTS
<br />KNOW ALL MEN BY THESE PRESENTS THAT: Frances R. Phillips and Bert E.
<br />Phillips, Jr., wife and husband
<br />of the County of Hall , State of Nebraska,
<br />for and in consideration of the sum of
<br />Three Thousand and no/100 - - - - - - - - - - - - - - - - - - - - - - - - - Dollars
<br />as a loan in hand paid to them
<br />by the Equitable Building and Loan Association of Grand Island, Nebraska, a
<br />corporation, and other good and valuable considerations, the receipt whereof is
<br />hereby acknowledged, do hereby assign, transfer and set over to said Association,
<br />as collateral security for the duration of the Loan, all the rents, income, and
<br />profits accruing upon the following described property, situated in the County of
<br />Hall, State of Nebraska, to wit : -
<br />Lot. Seven (7) in Fractional Block Twelve (12)
<br />in Gilbert's Addition to the City of Crand
<br />Island, Nebraska;
<br />And We hereby authorize and empower the Equitable Building and Loan
<br />Asspciationi of Grand Island, Nebraska, its authorized agents and attorneys, to
<br />act fo.r us and rent the above described premises, and in our place collect
<br />and receipt for said rent, at such prices and upon such terms as it may see fit.
<br />It is further expressly stipulated that, if the assignors, or their successors,
<br />occupy said premises during the existence of said loan, the Assignee shall have
<br />the same rights of forfeiture, ejectment for forcible entry and detainer, as such
<br />assignee might have against any other tenant, who has no interest or title in
<br />and to said premises. The temporary waiver of the collection of the rents shall
<br />not be construed as constituting a relinquishment of the rights granted hereunder,
<br />which rights may be exercised at any time during the existence of the above men-
<br />tioned mortgage or extension thereof.
<br />This assignment of rent being made for the express purpose of having
<br />said revenue applied to the repayment of the above mentioned loan.
<br />1= Said Association may, in its discretion, use the rents so far as it may
<br />deem necessary, for the purpose of making such repairs upon the premises, as, in
<br />its judgment, may be proper and may use said rents so far as necessary for the
<br />payment of insurance premiums and taxes upon said premises. It shall also have
<br />authority to deduct from said rents a fair compensation,.to be payable to said
<br />Association's Agents, for services rendered in the collection of said rents; the
<br />balance to be applied upon the payment of monthly installments upon said loan.-
<br />Dated at Grand Island, Nebraska, this 23rd day of November 19 56
<br />s
<br />Witness: �-: . -. . . .
<br />State of Nebraska )SS ' ' ' . ' ' ' ' ' ' ' . ' ' ' . . '
<br />County of Hall )
<br />. . t . . . . . . . . . . . . . . . . .
<br />On this 23rd day of Nov. 19 56, before me, the undersigned, a
<br />Notary Public, in.and for said County, personally came Frances R. Phillips and
<br />Bert 11 Jr., wife and husband
<br />who._ lly known to me to be the identical personswhose names
<br />arPV,;ixe above instrument as grantors, and they severally
<br />ac et �` `:to be their voluntary act and deed,
<br />.s r:
<br />�fmL% hand and Notarial Seal to aforesa'
<br />�'•. , Slori expires
<br />Notary Public
<br />Filed -;for reco d``January 30, 1961, at 9:40 A.M. e ster f D eds
<br />a Coun�y, Nebr.
<br />s9s'
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