201507508 - Laserfiche WebLink

Browse

Union, referred to as SECURED PARTY, agree: See Attached Exhibit "A" m m Z r1cr 1 v Collateral Assignment of Contract c :1] CD (J1 03 r , . r R.L.S., Inc. and Robert L. Siemers , referred to as DEBTOR and SELLER, and Archer Cooperative Credit DEBTOR is indebted to SECURED PARTY pursuant to Promissory Note dated September 8, 2015 in the original principal amount of $5,266 and 41/100 dollars); and DEBTOR is the Seller under a contract agreement with Casey Landers referred to herein as BUYER, for a term of 120 months, for the following described premises: entered into on September 8, 2015 ; THEREFORE, DEBTOR absolutely assigns to SECURED PARTY, all of DEBTOR's right title and interest in said contract, including all rents, profits or other payments on account of said contract or the occupation of the property. In the event of a termination of the contract described, DEBTOR agrees that any further contracts of the same premises, or other receipts from the exploitation of the property shall be assigned to the SECURED PARTY. DEBTOR herewith covenants that DEBTOR is the sole owner of the contract and that DEBTOR has the right to assign this contract; that the DEBTOR has performed all covenants required to be performed by the contract; that the DEBTOR has not previously assigned the contract; and that the BUYER is not in default under the contract. DEBTOR agrees that DEBTOR will continue to perform all obligations under the contract required to be performed by the DEBTOR; that the DEBTOR will make no further assignments of the contract without the prior consent of the CREDITOR; not to materially change the contract without the prior consent of the CREDITOR; not to agree to a release of the buyer, termination, buy out or other settlement of the contract without the prior written consent of the CREDITOR; to irrevocably appoint CREDITOR as its agent to enforce the contract and further authorizes CREDITOR to pursue such legal or other action as may be deemed by CREDITOR to be necessary to protect its interest herein. CREDITOR may, in its sole discretion, enter into a settlement of the contract obligation with the BUYER and may release the BUYER on behalf of DEBTOR. DEBTOR agrees that it shall honor such releases. In the event of a default by DEBTOR in payment or other terms of the Promissory Note, CREDITOR may take possession of the premises, and manage the same. CREDITOR shall not be liable for any loss sustained by