|
N p-
<br /> _ mn, ° cD
<br /> 0 37 0,.) z m r m
<br /> = 0 m O
<br /> Z -<O
<br /> o
<br /> 0o On p 0 -n W UDi
<br /> w ZD m C TZ O
<br /> 0o m m c 1m op
<br /> mn' m D rCC/) c 73
<br /> ( o
<br /> coo o„
<br /> c„,7,
<br /> CD
<br /> CD
<br /> W Z
<br /> O
<br /> WHEN RECORDED MAIL TO:
<br /> Equitable Bank
<br /> Dlers Avenue Branch
<br /> PO Box 160
<br /> Grand Island, NE 68802-0160 FOR RECORDER'S USE ONLY
<br /> ASSIGNMENT OF RENTS
<br /> THIS ASSIGNMENT OF RENTS dated October 31, 2013, is made and executed between
<br /> TOMMY UMMEL SR., whose address is 567 S SHADY BEND RD, Grand Island, NE 68801; A
<br /> SINGLE PERSON (referred to below as "Grantor") and Equitable Bank, whose address is PO Box
<br /> 160, Grand 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 ONE (1), CONCEPT SUBDIVISION, IN THE CITY OF GRAND ISLAND, HALL COUNTY,
<br /> NEBRASKA
<br /> The Property or its address is commonly known as 1723 E 4TH ST, GRAND ISLAND, NE
<br /> 68801. The Property tax identification number is 400370387.
<br /> CROSS-COLLATERALIZATION. In addition to the Note, this Assignment secures all obligations, debts and liabilities,
<br /> plus interest thereon, of either Grantor or Borrower to Lender, or any one or more of them, as well as all claims by
<br /> Lender against Borrower and Grantor or any one or more of them, whether now existing or hereafter arising, whether
<br /> related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or
<br /> indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Borrower or Grantor
<br /> may be liable Individually or jointly with others, whether obligated as guarantor, surety, accommodation party or
<br /> otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of
<br /> limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise
<br /> unenforceable.
<br /> FUTURE ADVANCES. In addition to the Note,this Assignment secures all future advances made by Lender to Borrower
<br /> or Grantor whether or not the advances are made pursuant to a commitment. Specifically, without limitation, this
<br /> Assignment secures, in addition to the amounts specified in the Note, all future amounts Lender in its discretion may
<br /> loan to Borrower or Grantor,together with all interest thereon.
<br /> THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY
<br /> AND ALL OBLIGATIONS OF BORROWER AND GRANTOR UNDER THE NOTE, THIS ASSIGNMENT,AND THE RELATED
<br /> DOCUMENTS. THIS ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br /> GRANTOR'S WAIVERS. Grantor waives all rights or defenses arising by reason of any"one action" or "anti-deficiency"
<br /> law, or any other law which may prevent Lender from bringing any action against Grantor, including a claim for
<br /> deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after Lender's commencement
<br /> or completion of any foreclosure action, either judicially or by exercise of a power of sale.
<br /> BORROWER'S WAIVERS AND RESPONSIBILITIES. Lender need not tell Borrower about any action or inaction Lender
<br /> takes in connection with this Assignment. Borrower assumes the responsibility for being and keeping informed about
<br /> the Property. Borrower waives any defenses that may arise because of any action or inaction of Lender, including
<br /> without limitation any failure of Lender to realize upon the Property, or any delay by Lender in realizing upon the
<br /> Property. Borrower agrees to remain liable under the Note with Lender no matter what action Lender takes or fails to
<br /> take under this Assignment
<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 />
|