|
N 0p-
<br /> mn' CD cD
<br /> 0 7J 0.) Z m r m
<br /> wo 07 M , D O O
<br /> • -n ,C7 Z 0
<br /> Oo
<br /> mA —m �D
<br /> M(-, p cn
<br /> -ti3 o O)
<br /> `a o m
<br /> CO
<br /> O
<br /> WHEN RECORDED MAIL TO:
<br /> Equitable Bank
<br /> Diers Avenue Branch
<br /> PO Box 160
<br /> Grand Island, NE 68802-0160 FOR RECORDER'S USE ONLY.
<br /> ASSIGNMENT OF RENTS
<br /> •
<br /> THIS ASSIGNMENT OF RENTS dated April 8, 2013, is made and executed between SCOTT C
<br /> LANE, whose address is 805 E SUNSET AVE, GRAND ISLAND, NE 688018165 and CINDRA K
<br /> LANE, whose address is 805 E SUNSET AVE, GRAND ISLAND, NE 688018165; Husband and
<br /> Wife (referred to below as "Grantor") and Equitable Bank, whose address is PO Box 160, Grand
<br /> Island, NE 68802-0160 (referred to below as "Lender").
<br /> ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security
<br /> interest in, and conveys to Lender all of Grantor's right, title, and interest in and to the Rents
<br /> from the following described Property located in HALL County, State of Nebraska:
<br /> Lot Two (2), Block One Hundred Forty Eight (148), Union Pacific Railway Company's
<br /> Second Addition to the City of Grand Island, Hall County, Nebraska
<br /> The Property or its address is commonly known as 317-319 E DIVISION ST, GRAND ISLAND,
<br /> NE 68801. The Property tax identification number is 400098725.
<br /> CROSS-COLLATERALIZATION. In addition to the Note, this Assignment secures all obligations, debts and liabilities,
<br /> plus interest thereon, of Grantor to Lender, or any one or more of them, as well as all claims by Lender against Grantor
<br /> or any one or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of
<br /> the Note, whether voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined,
<br /> absolute or contingent, liquidated or unliquidated, whether Grantor may be liable individually or jointly with others,
<br /> whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such amounts
<br /> may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts
<br /> may be or hereafter may become otherwise unenforceable.
<br /> REVOLVING LINE OF CREDIT. This Assignment secures the Indebtedness including,without limitation, a revolving line
<br /> of credit, which obligates Lender to make advances to Grantor so long as Grantor complies with all the terms of the
<br /> Note.
<br /> THIS ASSIGNMENT 1S GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND 121 PERFORMANCE OF ANY
<br /> AND ALL OBLIGATIONS OF GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED DOCUMENTS.
<br /> THIS ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br /> PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor
<br /> shall pay to Lender all amounts secured by this Assignment as they become due, and shall strictly perform all of
<br /> Grantor's obligations under This Assignment. Unless and until Lender exercises its right to collect the Rents as provided
<br /> below and so long as there is no default under this Assignment, Grantor may remain in possession and control of and
<br /> operate and manage the Property and collect the Rents, provided that the granting of the right to collect the Rents shall
<br /> not constitute Lender's consent to the use of cash collateral in a bankruptcy proceeding.
<br /> GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that:
<br /> Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans, liens, encumbrances, and
<br /> claims except as disclosed to and accepted by Lender in writing.
<br /> Right to Assign. Grantor has the full right, power and authority to enter into this Assignment and to assign and
<br /> convey the Rents to Lender.
<br /> No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any
<br /> instrument now in force.
<br /> No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights in the
<br /> Rents except as provided in this Assignment.
<br /> LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no
<br /> default shall have occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby
<br /> given and granted the following rights, powers and authority:
<br /> Notice to Tenants. Lender may send notices to any and all tenants of the Property advising them of this
<br /> Assignment and directing all Rents to be paid directly to Lender or Lender's agent.
<br /> Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and receive from
<br /> the tenants or from any other persons liable therefor, all of the Rents; institute and carry on all legal proceedings
<br /> necessary for the protection of the Property, including such proceedings as may be necessary to recover
<br /> possession of the Property; collect the Rents and remove any tenant or tenants or other persons from the Property.
<br /> Maintain the Property. Lender may enter upon the Property to maintain the Property and keep the seine in repair;
<br />
|