|
2� 17�27� 1
<br /> ASSiGNMENT C�F RENTS
<br /> Lvan No: '1 D�3�4'I 45 ��ontinu�d� Page �
<br /> purpases, Grantor agrees t❑ keep Lender informed at all times of Grantor's current address. Unless atherwise
<br /> prouided ar required by faw, �f th�re is mare than ane Grantor, any notice gi�en by Lender to any Grantor is
<br /> deemed ta be notice gi�en to all Granto�s.
<br /> Pvwers vf Attorney. The �arious agen�ies and pvwers vf attorney can�eyed on Lender under this Assignment are
<br /> granted for purposes of security and may not be re�oked by Grantor until such time as the same are renounced by
<br /> Lender.
<br /> Se��rability. If a caurt of campetent �urisdiction finds any p�a�ision af this Assignment to be i�legal, in�alid, or
<br /> unenforceable as t❑ any persvn or circumstance, that �inding shalf not make the ❑ffending pra�ision illegal, in�alid,
<br /> ❑r unenfarc�able as �� any other persvn or circumstance. If feasible, the offending pra�isian sha�! be �onsidered
<br /> madified so that it becomes legal, �alid and enforceable. If the offending pro�isian cannot be so modified, it shall
<br /> be c�nsidered deleted fram this Assignment. L1nless otherwis� required k�y law, the ill�gality, in�alidity, o�'
<br /> unenforceability of any pra�isian of this Assignment shall not affe�t the legality, �a�idity or enforceability of any
<br /> other pro��sian of this Assignment.
<br /> Suc�essors and Assigns. Subje�t�a any I�mitations stated in this Assignment on transfer vf Grantor's interest, �his
<br /> Assignment shall be binding upon and inure to the benefit of the parties, their successors and assigns. If
<br /> �wnership of the Property �ecomes �ested in a person ❑the� than Grantor, L�nder, wEthout notice to Grantar, may
<br /> deal with Grantor's successors with reference t❑ �his Assignment and the Indebtedness hy way o� forbearance or
<br /> extension withaut releasing Grantor fram the obligat�ons ❑f this Assignment or liability under the Indebtedness.
<br /> Time is of the Essenc�. Time is vf the essence in the performance ❑f this Assignment.
<br /> Wai�er vf Homestead Exemptian. Grantor hereby releases and wai�es all ri�hts and benefits ❑f the homest�ad
<br /> ex�mption laws of the State of Nebraska as t❑ alf Indebtedness secured by this Assignment.
<br /> DEFINITI�NS. The fo�lawing capitali�ed words and terms shall ha�e the follawing meanings when used in this
<br /> Assignment. Unless specifiicaily stated t❑ the contrary, all referenc�s tn daffar amounts shall mean amounts in lawfu�
<br /> money o� the Uni�ed States of America. Words and terms used in the singular shall include the plural, and the pluraE
<br /> shall incl�de the singular, as the context may require, Wards and terms not atherwise defined in this Assignment shall
<br /> ha�e the meanings attributed ta such terms in the LJniform Commercial �ade;
<br /> Assignment. The word "Assignment" means this ASSIGNMENT �F RENTS, as this ASSIGNMENT �F RENTS may
<br /> be amended ❑r modi�ied from time ta time, together with all exhibits and schedules attached to this ASSIGNMENT
<br /> �F RENTS from �ime to time.
<br /> �vrr�wer. The word "Borrower" means EDMUNa R KERSHAW IfE and MICHELLE K KERSHAW.
<br /> Default. The word "De�ault" means the Defau�t set farth in this Ass�gnment in the section �itled "Default".
<br /> E�ent af Dsfau[t. The wards "E�ent of Default" mean any ❑f the e�ents ❑f default set forth in this Assignment in
<br /> the default sectian of this Assignment.
<br /> Grantvr. The ward "Grantar" means E�MIJND R KERSHAW Il[ and MfCHELLE K KERSHAW.
<br /> Guaranty. The ward "Guaranty" means the guaranty �ram guarantar, endorser, surety, ar accammodation par�y to
<br /> Lender, incfuding without limitativn a guaranty❑f alE or part af the Nvte.
<br /> Inde�tedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses
<br /> pay�ble under the Nate ar Related Documents, together with a�l renewals of, extensians ❑f, modificatians of,
<br /> cansolidations of and substitutions far the Note or Related Documents and any amounts exp�nded ❑r ad�anced by
<br /> Lender t❑ discharge Grant�r's ❑bligations or expenses incurred by Lender to enfor�e Grantor's obligations under
<br /> this Assignment, togethe� with interes� on such amounts as pra�ided in this Assignment. Specifically, with�u�
<br /> limit�tion, �ndebtedness includes the future ad�ances set �orth in the Future Ad�ances pra�isian, together with a!!
<br /> interest th�rean and all amounts that may be indirectly se�ured by the Cross-Collateralization pro�ision vf this
<br /> Assignment,
<br /> Lender. The ward "Lender" means Fi�e Paints Bank, its successvrs and assigns.
<br /> Not�. The word "Note" means the promissary note dated Apri! 2�, 2�17, In the original principal amount
<br /> vf $5D,164.69 from G rantor t❑ Lender, together with al! rene►nra�s of, extensions of, modEfications of,
<br /> refinancings of, cansolEdations of, and substitutions for the promissary nate or agreem�nt.
<br /> Property. The word "Property" means al! of Grantar's right, title and interest in and to all the Property as
<br /> described in the "Assignment" section ❑f this Assignment.
<br /> Rela�ed Documents. The wards "Related ❑a�um�nts" mean all pramisso�y notes, credit agr�ements, loan
<br /> agre�ments, en�iranmental agreements, guaran�ies, security agreements, mvrtgages, deeds of trust, se�urity
<br /> deeds, collaterai mortgages, and all other instruments, agreemen�s and documents, whethe� naw ❑r hereafter
<br /> existing, executed in connec�ion with the Indebtedness.
<br /> Rents. The word "Rents" means all of Grantar's present and futu�e rights, tit�e and interest in, ta and under any
<br /> and a�l present and future leases, including, withaut limitation, all rents, re�enue, incame, issues, royalties,
<br /> bonuses, aGcounts recei�able, cash or security deposits, ad�ance rentals, profits and praceeds from the Praperty,
<br /> and �other payments and benefits deri�ed or to be d�ri��d fram such leases ❑f e�ery kind and nature, whether due
<br />
|