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<br /> ASSIGNMENT OF RENTS
<br /> KNOW ALL MENB3'THESBPRESENTS t{rat R-Lvnn Realtv.Inc., a Nebraska
<br /> � r f,nrnnration
<br /> hereinaflec called:Ure mortgagor_,for and in constde�adon of aloatt of 3 +
<br /> : bY First National Bank &'Trust Companv of Lincoln
<br /> hereinafter called the mortgagee_,secured 6y a J'irst mortgage lreld by Fi rst Fdati ona'I`gan�
<br /> & Irust Comaanv of Lincol n ,and othergood and vnluable consideration,dre receipt
<br /> whereof is hereby ackno:vledged, do es ]�ereby assign, trarufer and set over to the mortgagee_,
<br /> lts successors or assigns, as a�ditional security for the pay»tent of aforesaid mortgage loan and
<br /> any'deli�:qtreneies thereai, jor so long as ajoresaid loart or delr�iquencies thereort, or m:y pa�t
<br /> : thereof remains unpaid, die rents accruing upon Ihe following descrlbed p�operties, located in
<br /> the City oj Grand Island Hall Cotmty, Nebraska , to-ivit:
<br /> Lot One (1), Block Nine (9), Continental Gardens,
<br /> an Addition to the City of Grand Island, Hall County,
<br /> � ` Nebraska
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<br /> ^• ' �nd the said.mortgagor_hereby authorize s and empower S the said mortgagee , its.
<br /> or thefr succesrors and assigns, by its br their authorized agents and attorneys,to ler for said mo�t-
<br /> gagor and rent the above described premi`ses or any part thereof, and collect and receipt foi
<br /> said rent, either monthly, quarterty, or yearly,as it or they may see fit,and in dejault of the pay- �
<br /> ment of said rent or any part drereof!o proceed in its or theer name by suit or suits at lativ or
<br /> equity jor the recovery thereojin sucl:manner as it or they sha11 deem f'it.
<br /> c ;
<br /> This assignment of rents ir being made for the express purpose of l:aving the rent collected_
<br />� �'='»,"��'IIFF::��%�F�';«««��i rin�'�al and interest
<br /> on the loan and deltnquencies the�eon above descrlbed as agreed by mortgagor to be paid on :
<br /> the note executed by mortgagor to mo�tgagee and the real estate mortgage on the above
<br /> described rea!estate securing said note.
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<br /> Mortgagee , its successors or assigns, may, in its or tlteir discretion use the rents so far as
<br /> necessary for t/ie purpose of ma�ing such repairs upon the premises as in its or their/udgment
<br /> may be p�ope�and may use said rents so jar as necessary for Jhe payment of insurance premi-
<br /> ums and taxes on said premises, or any other payment to be made by mo�tgagor under dte
<br /> ternu of the note and mortgage above mentioned, the balance to be applied upon d:e payment
<br /> of principal and interest on said loan.
<br /> This assignment of rents is intended to apply only in c¢re of the default of the undersigned
<br /> in :he payments specifted in the above note and mortgage or any delinquencies thereon. In such
<br /> c¢se mortgagee , its or their successors or arsigns, may ivaive collection tlre�eof jor spaces of
<br /> time, at its or their option, but such:rci:ar or jailure to collect hereunder shall not be construed
<br /> to be a waiver of the right to collect any subsequent insfallment of sent.
<br /> The delivery of a copy of this instrument to any tenant or tenants occupying said premises
<br /> or any part diereof shall be sufficient to �equire said tenants to pay said rent to mortgagee
<br /> its or their successors o�assigns, unti!fu:ther notice of the amounts delinquent on aforesaid loan
<br /> have been paid. �When said loan is paid in full,a release oj the aforesaid mortgage shall be deemed
<br /> to be a release of this assignment without jurther evtdence thereof.
<br /> Dated ihts 17th day of January 19 77 �;�� '�-.,
<br /> �,j.yr.
<br /> cvrrnEss: •-•-• .,�<..
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<br /> R-L nn Real t --Inc? a ��e `�, kar Co'rporation �l�tN x:`�
<br /> � AIIES r B . /���- //��L�y..."'.�;, �- ��
<br /> Vice President ' ' '" resi e��
<br /> (over) �
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