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<br /> ��-- U 019'71
<br /> A5SIGNMENT OF LEASES, RENTS ANB PROFITS
<br /> � THIS.ASSIGNMEI3T, made this 2Qf.h day of Apri1 , 19 77 ,
<br /> by R:aberz _T_ Wheel�r a�. ' an�g j r�eyQr (herein caZled "Ass3gnors"), to
<br /> FIRST FEDERAL SA�INGS AND LO,AN ASSOCIATION OF LINCl1LN, having 3ts principal place
<br /> of business in Lincoln, Nebraslca (herein called "First Federal");
<br /> WZTNESSETHs For value-received and as additional security for the loan
<br /> hereinafter-mentioned, Assignors'hereby se1Z, transfex and assign'unto First Federal,
<br /> its <successors and assigns,- all r3ght, title and interest of Assignors in and to the
<br /> ren�s,,issues, profits, rigYits and benefits from the property described below:
<br /> Lot ltao (2) in Block Seven (7), in Voitle's Additfon
<br /> ta the City of Grand Island, Ha11 County, Nebraska.
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<br /> And to that end Assigaors hereby assign and set over uato First Federal,
<br /> its successors or assigns, all leases or subleases o£ said premisea now made, executed
<br /> or delivered, whether written or verbal, or to be hereafter made, be the same written
<br /> or verbal.
<br /> And the Assignors do hereby author3ze and empower First Federal, its
<br /> successors or assigns, without notice and without regard to the adequacy of ti�e
<br /> seccLrity for the indebtedne�s secured hereby, to take possession of sa3d real
<br /> ' estate and chatteZs, to rent and manage the same, and to sue for or otherwise
<br /> + ,� collect the said rents, issues, profits, rights and benefits, as they shall hecome
<br /> due,. and hereby direct each and all of the tenaats of the aEoresaid premises to pay
<br /> such rents as may now be due or shall hereafter become due t+o sa3d First Fe�eral,
<br /> its successaxs or asaigna, upoa demand for payment thereof by First Federal, its
<br /> successors or assigns. It is understood and agreed, however, that no such demand `
<br /> shall be made unless and until there has been a default in the payment of the
<br /> indebtednesa secured by the Mortgage and Financing Statement herein mentioned, or
<br /> default in the payment of any other s�s secured by said Mortgage or Financing
<br /> ' Statement, and, until such demand is made, Assignors are authorized to col2ect,
<br /> ar coatinue collecting said rents, issues, profits, righCs and benefits; bu,t
<br /> '-ia4 -,�e. gxi;;i.'�:,g� ta ..�1�::t ... ....tiau2. ��i o�rt„o. _., .:fo« a.z...-t �y asai.b.rc�o
<br /> shall not operate to permit the collection �y said Assignors, their successors or
<br /> assi.gns, or any 3nstallment of rent in advance of the date prescribed in said
<br /> lease or leases for the payment thereof. First Federal may retain or pay from
<br /> such rerxts, issues, profits, rights and beneEits coZZected by it reasonabls fees
<br /> for management and rental services rendered by it or those employed by it, all
<br /> costs and expenses of collecti.on, including reasonable attomeys` fees, and may
<br /> also use the same to make good any such defaults and to nay taxes, insurance
<br /> premiu�s, expenses of repair and maintenance and all other expenses involved in
<br /> Lhe praper management of said premises, and shall pay any surplus then remai,ning �
<br /> to Assignors.
<br /> The term of this Assignment shall be until the Note (or any extension or
<br /> renewal thereof) of even date herewith, made, executed and delivered by Robert
<br /> J. LJhee2er snd Nancy L. Wheeler for the sum of $ 19.50(!.OQ
<br /> an1 �ecurz� by a :tortgage covering said pr�ises au�3 a Finaciciug Statemeut coveriug
<br /> certain fisctures and equipment situate on said premises, stiall have been fully paid
<br /> and satisfied, or until the expiration of the period of redemption, if any, at which
<br /> time Chis Assignment is to be fully satisfied, cancelled and reieased; and tha
<br /> : .. r.eleasing of said Mortgage and Financing Statemeat shall constitute a release hereof. r� ' Y,�3.\
<br /> This Assignment is given as additional security for the performance of each � '�`
<br /> $ and all of the obligatians and covenants of the Note and Mortgage above-described '
<br /> �� -� � � (or���ny extenaion or renewal thareof,j. � °'". � '�
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