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<br /> ` ASSIG�fIT OF LEASES, RENTS P.N!) PROPiTS
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<br />�j THIS ASSIGNMENT, made this 2Tth ' day of March , 19 78 ;,.
<br /> S by NEBBASRA MOTEL DEVEIAPERS, LTD., a partnership (herein cailed "Assignors"), to }
<br />� FIRST FIDERAL SAVINGS AND LOAN ASSOCIATION OF LINCOLN, hawing its principal place t'
<br /> uf business in Lincoln, Nebraska (herein called "First Fed�ral"); �"
<br />� WITNESSETH: For value received and as additfoaal securify for the loan
<br />� hereinafter mentioned, Assignors herebq sell, transfer aad 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 from the property described below:
<br />! Lots Four (4), Five (5�, and Eleven QS), "Woodland Second Subdivision",
<br /> 4 aa Addition to the City of Grand Islan.d, Hall County, Nebraska.
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<br /> And to that end Assigaors hereby assign and set over unto First Federal, w
<br /> its successors or assigns, a11 leases or subleasea of said premises now made, executed : �
<br /> f or delivered� whether written or verBal, or to be hereafter made, be the same written ' '3
<br />� or verbal. �
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<br />; And the Assignors do hereby authorize and emposaer First Federal, its r
<br />� successors or assigns, without notice and without regard to the adequacg of the �
<br />= aecurity for the indebtedness aecured hereby, to talce possession of said real
<br />! estate and cizattels, to rent and manage the same, and to sue for or otherwise ti
<br />� collect the said rents, issues, prof3ts, rights and benefits, as they shaT1 become ;
<br /> due, and hereby direct each and all of the tenants of the sforesaid premises to pay r
<br /> i such rents as may now be due or shall hereafter become due to said First Fc�eral, �
<br /> its successors or assigns, upon demand £or payment thereo£ by First Federal, its f-
<br />' successora or assigns. It is understood and agreed, however, that no such demand
<br />' shall be made unless and unt31 there has been a de£ault ia the paymeat of the
<br /> indebtedness secured by the Mortgage and Financing Statement herein mentioned, or t
<br /> default in the payment of any other s�s secnred by said Mortgage or Financing
<br /> Statement, aad, until such demand is made, Assignors are authorized to collect, E
<br /> or coatiaue collecting said rents, issues, profits, rights and benefits; but !
<br /> that such privilege to collect or continue collectiag, as aforesaid by Assignors
<br /> shall not operate to permit the collectioa by said Assigaors, their successors or
<br /> assigas, or any installment 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 rents, issues, profits, rights and benefits collected by it reasonable fees
<br /> for management and rental services rendered by it or those employed by it, all
<br /> costs and exgenses of collection, includiag reasonable attorneys' fees, and may
<br /> also use the same to make good aay such defaults and to pay taxes, insurance
<br /> premi�s, expenses of repair and maintenance and all other expenses involved in
<br /> the proper management of said premises, and shall pay any surplus then re�aining
<br /> to Assigaors.
<br /> The term o£ this Assignment shall be until the Note (or any extension or '
<br /> renewal thereof) of even date herewith, made� executed and delivered by
<br /> NES A e MOT1?T. DEVEin ERS� 1.Tp y a yartneriah3�ior the sum o£ $�y 200�00n_00
<br /> and secured by a Mortgage covering said pre�ises and a Fiaanciag Statement covering
<br /> certain fixtuxea and equipmeat situate on said premises, shall have been fu.I7.y paid
<br /> and satisfied, or until the expiration of the period of redemption, if any, at which
<br /> time this Assignment is to be fully satisfied, cancelled a.nd released; and the
<br /> releasing of said Mortgage and Eiaancing Statement s2�a11 con.stitute a release hereof. w=""" �'-�',
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<br /> This Asaignment is given as additional security Eor the performance of each G�
<br /> and `a3.1 o£;the obligations aad covenanta of the.Note and Mortgage above—described �
<br /> , '(or ;aay extension or renewal thereof). �:
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