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<br /> ASSIGNMF:NT OF LEASES, RF.NTS A�'�TD PROFITS
<br /> �THIS� t�SSIGNMENT. m�c�}e th��4Y` 2 th d�� of July_ , 19 77
<br /> G r E ar ovla and x.�n ,7 a Hus-irarcu-arcu-i
<br /> �y r���it o� surv�vors�'i�ip and no� as tenants in-cd�on tnerein c�e '4, no.. , i h �
<br /> r FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF LINCOLN, havin� its principal place
<br /> cf business in Lincoln, I+Iebraska (herein called "First Federal"); ,�
<br /> WITNES3ETH: Eor value received and as additional security for the loan
<br /> hereinafter mentioned, Assignors hereby sell, transfer and assign unto First Federal,
<br /> its successors and assigns, all right, title and interest of Assignors in and to the
<br /> rents, issues, profits, rights and benefits £rom the property described below:
<br /> A tract of land comprising the South Sixty-three (63.0) feet of Lot
<br /> Eighteen (18) and the North Fifty-seven (57.0) feet of Lot Nineteen
<br /> (19), Holcomb Highway Homes Addition to the City of Grand Island,
<br /> Hall County, Nebraska.
<br /> And to that end Assignors hereby assign and set over unto First Federal,
<br /> its successors or assigns, all leases or sub'leases of said premises now made, executed
<br /> or delivered, whether written or verbal„ or Cu be hereafter made, be the same written
<br /> � or verbaL
<br /> And the Assigno2s do hereby authorize and empower First Federal, its
<br /> successors or assigns, without notice and without regard to the adequacy of the
<br /> security for the indebtedness secured hereby, to take possession of said real
<br /> ,- ? estate and chattels, to rent and manage the same, and to sue for or otherwise
<br /> � collect the said rents, issues, profits, rights and beneEits, as they shall become
<br /> due, and hereby direct each and all of the tenants of the aforesaid premisea to pay :
<br /> ' such rer_ts as mey now be due or shall hereafter be:.ome due Lc, sa�u-i��� -'=�,�.a� `
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<br /> its successors or assigns, upon demand for payment thereof- by Pirst 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 i_n the payment of the
<br /> indebtedness secured by the Mortgage and Financi.ng StatemenC herein mentioned, or
<br /> default in the payment of any other sums secured by said Mortgage or Financing
<br /> Statemeut, aud, until sich demand is made, Assi�nor� are suthorized to collect,
<br /> or continue collecting sa3d rents, issues, profits„ rights and benefits; but
<br /> that such privilege to collect or continue col].ecting, as aforesaid bp Assignors
<br /> shall not operate to permit the collection by sa,id Assignors, their successors ar _
<br /> assigns, or any installment of rent in advanc_e of the date prescribed in sai.d
<br /> lease or leases for the payment thereof. First Federal may retain or pay f.r.om �
<br /> such rents, issues, prafits, rights and bene£its callectcd hy it reasanable fees
<br /> ' for management and rental services rendered Ly it ar those employed by it, all
<br /> k' costs and expenses of collection, including reasonaUle attorney�' fees, and may
<br /> also use the same to make good any such defau7.ts an.d ta pay ta3ces, insurance
<br /> premiuffis, expenses of repair and maintenance and all other expenses involved in
<br /> t::e proper management of said premises, and ahall pay any surplus then remaining
<br /> to Assignors.
<br /> The ter.m of this Assignment shall be until the Note (or any extension ox
<br /> renewal thereof) of even date herewith, made, executed and delivered Uy
<br /> Garv Edward Shovlain and 1,inda DianP Sl,nv7at�or the sw-n of $ �S,nnn-np
<br /> and secured by a Mortgage covering said premi.ses and a I'i.nancing StaCenient covering
<br /> ct•rtair. fistures and equigmer.t situate on said pr��ises„ sha12 have been fully paid
<br /> and satisfied, or until the e�cpiratior, of the period of redemption, if any, at which
<br /> time this A�signm�nt 3s to be fully satisfied, cancelled and released; and the
<br /> releasing of said Mortgage and Financing StaCement shall constitute a release hereof.
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<br /> This Assi nment is iven as add3tional securit for the � ' � ' *
<br /> g b y performance of each � �„,� ,
<br /> and all of the obligations and covenants of the Note and Mortgage above-described �
<br /> ,(or any extenaiom or renew�l thereof).
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<br /> Q.rdC'., . . . ... . .. .. . ... . . . � . . . . . . �_ J
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