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<br /> _ ��7'- ��15�38
<br /> ASSIGNMENT-0F LEASES, RENTS E�ND PROFITS
<br /> � T AS N made this lst 3 og September , I9 77 ,
<br /> b �7on�lf��dw�r��k�na�i�ry and Lans�-:-3irfna��ry, ,� „
<br /> ; y us and an wife - Eherein called Assignors ), to
<br /> FIRST FEDERAL SAVINGS AND LOAN ASSOCZATZON OF LINCOLN, having its principal place
<br /> . iof business'in Lincoln, Nebraska (herein called "First Feder�l");
<br /> WZTNESSETH: For value received and as additiomal security far the loan
<br /> hereinafter-mentioned, Assignors hereby sell, transfer and assign unto First Federal,
<br /> ' its successors'and assigns, a11 right, title and interest of Assignors in and to the
<br /> rents, issues, profits, rights and benefits from the property described below:
<br /> r ,
<br /> " SEE ATTACHED EXHI&IT A
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<br /> : 7'�.�.� . . . . . . . . . . .
<br /> ; 5���� � . . � . . : . . . . � . - � .
<br /> '.'t ... . . � . . . . . . �� � . . . .
<br /> And to that end Assignors lisreby assign and set over unto First Federal,
<br /> its successors or assigns, all leases or subleases of said premises now ma.de, executed
<br /> °. i ' or delivered, 'whether wriCten 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 /> }; successors or assigns, without notice and without regard to the adequacy of the
<br /> , y secuzity for the indebtedness secured hereby, to take possession of said real
<br /> ; estate and chattels, to ient and manage the same, and to sue for or otherwise
<br /> ° col2ect the said rents, issues, profits, rights and benefits, as they shall become
<br /> ! ' due, and hereby direct each and ail of the tenants of the aforesaid premises to pay
<br /> � r such rents as may now be due or shall hereaft�r become due to said First Feder.al,
<br /> ; its successors or assigns, upon demand for payment thereof by First Federal, its
<br /> ` � successors or assigns. It 3s understood and agreed, however, that no such demand
<br /> , ; sha11 be made unless and until there has been a defauit in the payment of the
<br /> indebtedness secured by the Mortgage and Financing Statement herein ment:.oned, or
<br /> � � default in the payment of any other sums secured by said Mortgage ar Financing
<br /> Statemen_, and, until auch demand is made, Assignors are author3zed to collect,
<br /> A or continue collecting said rents, issues, profits, rights and benefits; but
<br /> � that such rivile e to collect or continue coYlectin
<br /> r p g g, as aforesaid by Assignors
<br /> shall not operate to permit the collection by said Assignors, their successors or
<br /> � , assigns, or any installment of rent in advance of the date prescribed in said
<br /> ; lease or leases for the payment thereaf. First Federal may retain ar pay from
<br /> ` ' such rents, i:ssues, profits, rights and benefits collected by it reasonable fees
<br /> ` far management and rental services rendered by it or those employed by it, aLt
<br /> costs and expenses of collection, including reasonable attorneys' fees, and may
<br /> ? also use the same to make good any such defaults and to pay taxes, insurance
<br /> ? premiwss, expenses o£ repair and maintenance and all other expenses involved in '
<br /> ; i the proper management of said premises, and shall pay any surplus then remaining
<br /> to Assignors.
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<br /> � The term of this Aasignment shall be until the Note (or any extansion or
<br /> renewal thereof) of even date herewith, made, executed and delivered by Donald
<br /> : �dw�rd Shi�ab��� and Lana J. Shinaberv, for the sum oi $ 100,000.00----------
<br /> as:e2 a.: --x_�
<br /> , , an� secuzec�' by a Mortgage covering said premises and a Financing Statement coverir�g
<br /> � certain fixtures and equipment situate on said premises, shall have been fuliy pafd
<br /> � s and satisfied, or until the expiration of tfie period of redemption, if any, at which
<br /> time this Assignment is to be fully satisfied, cancelled and re2eased; and the '
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<br /> releasing of said Mortgage and Financing Statement shall constitute a release hexeof. ;�� -: �"a,
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<br /> 7 This Assignment is given as add3tional security £or the performance of each
<br /> and all of the obligations and covenants of' the Note and Mortgage above-described ' y1K�
<br /> (or any- e�stension or renewal,thereof)'. ,a:�
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