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<br /> ASSIGNMENT OF LEASF,S; RENTS ANP PRQFIT_S
<br /> THIS ASSIGNMENT, made this 28th day of July , 19 77
<br /> rby McDERMOTT YOST AND SCHWARTZ PARTNERSHIP (herein called "Assignors"), to �
<br /> � FIRST FEDERAL SAVZNGS AND LOAN ASSOCIATION OF LINCOLN, having its principal place
<br /> cf business in Lincoln, Nebraslca (herein called "First Federal");
<br /> WITNESSETK: ,For 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 /> SEE ATTACHED EXAIBIT A
<br /> And to that end Assigaors hereby assign and set over unto First Federal,
<br /> its successoxs or assi.gns, all leases or subleases of said premises 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 authorize and empower First Federal, its
<br /> auccessors 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 th� said rents, issues, profits, rights and benef its, as they shall become
<br /> due, and herebq direct each and a11 of the tenants of the aforesaid premises to pay
<br /> such xents as may now bz due oi shall hereafter become due to said First Federala
<br /> its successors or assigns, upon demand for payment thereof by First Federal, its
<br /> successors or assigas. 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 /> indebtedness secured by the Mortgage and Financing Statement he=ein mentioned, or
<br /> default in the payment of any other sums secured by said Mortgage ar Tinancing
<br /> State�ent, and, unt31 such demand is made, Assignors are authorized to collect,
<br /> or continue collecting said rents, issues, profits, ri�hts and benefits; buL-
<br /> that such privilege to collect or continue col.lecting, as aforesaid by Assi.�nors
<br /> shall not operate to permit the collection by said Assignors, their successors or
<br /> assigns, or aay installment of rent in advance of the date pre�cribed in said „
<br /> lease or leases for the pay�:�t thereof. First Federal may retain ar pay from
<br /> such rents, issues, profits, rights and benefits collected by it reasonabl,e fees
<br /> for management and rental services rendered by it or those employecY Uy it, all
<br /> costs and expensea of collection, including reasonable attorneys' f.ees, and may
<br /> also use the same to make good any such defaults and to pay taxes, insurance
<br /> pr�miums, expenses of repair and maintenance and all other expenses involved 3n
<br /> the pxoper management of said premises, and shal.l pay any surplvs then remaining
<br /> to Assignors.
<br /> The term of this Assignment shall be until Lhe Note (or any extension or
<br /> renewal thereof) of even date herewith, made, executed and delivered by
<br /> McDERMOTT YOST AI3D SCHWARTZ PARTNERSHIP for the sum of $ 450,000.00
<br /> and secured by a Mortgage covering said premises and a Einnncing Statement covering -
<br /> certain fixtures and equipment situate on said prem3ses, shall have. been fuily paid
<br /> and satisfied, or until the expiration of the:period of redemption, if any, at which
<br /> time thls Assignment is to be fully sat3sfied, cancelled and released; and the
<br /> releasing of said Mortgage and Financing Statem2nt shall constitute a release hereof.
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<br /> This Asaignment ie given as additional security for the performance of each �;► i�w�`
<br /> and a11 of the obligations and covenants of the AIote and Mortgage ahove-described �' °:`
<br /> I (or any extensioa or renewal thereof). �
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