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<br />` � ASSIGNMENT OF RENTS
<br />` 4OQW ALL MEN BY THESE PRESENTS THAT: Frances Re Phillips and Bert E.
<br />j P'hil�tipee J7rie h�a� husban$�
<br />poi` they #County of Hall State of Nebraska,
<br />for and in consideration of the sum of
<br />Thtee Thousand, Six Hundred and No /140 - - - - - - - - - - - - - - - - - - - Dollars
<br />as a loan in hand paid to then
<br />by the Equitable Building and Loan Assooiation 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 Grand
<br />Island, Nebraskaj
<br />And they hereby authorize and empower the Equitable Building and Loan
<br />Association, of Grand Island, Nebraska, its authorized agents and attorneys, to
<br />act for then and rent the above described premises, and in their 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 suoceseore,
<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 Tray 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 />Said Association mayp 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,
<br />Witness:
<br />..... . . .......
<br />State o! ebras%c )
<br />county of Hall )
<br />this ]s t da f ober 1962 •
<br />JamJ�,,
<br />Frances Re Philli�
<br />Bert Be ips, Jr.
<br />. . . . . . . . . . . . . . . . . . . .
<br />w
<br />On this 1st day of October, 1962# before me, the undersigned, a
<br />Notary Public, in and for said County, personally came Frances Re Phillips and Bert
<br />n to me to be the identical personsAose names
<br />instrument as grantors, and they severally
<br />e their voluntary act and deed.
<br />and Notarial Seal the dat aforesaid.
<br />Notary Publio
<br />9S-
<br />
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