|
a
<br />m
<br />c
<br />z
<br />i.l
<br />G)
<br />i
<br />rn
<br />rn
<br />rn
<br />0
<br />Cn
<br />C)
<br />c� a —t
<br />_ ca
<br />z M
<br />-<
<br />2 M
<br />LID
<br />V
<br />� r �
<br />r D
<br />C� C!)
<br />CZ vv
<br />CAD ca
<br />ce
<br />0
<br />N
<br />O
<br />O
<br />O
<br />O
<br />U1
<br />M
<br />-J
<br />C.J
<br />rn
<br />Ego
<br />0
<br />N
<br />N
<br />co
<br />t�
<br />0000050'73
<br />Assignment of Leases and Rents
<br />(Nebraska)
<br />This Assignment is made this July 10 , 2 0 0 0 between
<br />William P. Ziller and Julann K. Ziller
<br />(the "Assignor "), a(n) Husband and Wife and
<br />Wells Fargo Bank Nebraska National Association
<br />(the "Assignee "), a national banking association.
<br />�X.] The Assignor has executed and delivered to the Assignee its promissory note dated July 10 , 2000 in the original
<br />principal amount of $ _ $116 , 000 . 00 and any extensions, renewals or modifications thereof (the "Note
<br />The Assignor has executed and delivered to the Assignee its guaranty dated in favor of the Assignee for
<br />the benefit of
<br />(the "Borrower ") in the amount of $
<br />and any replacements or substitutions thereof (the "Guaranty "),
<br />To secure payment of the obligation described above (the "Obligation "), the Assignor has executed and delivered to the Assignee a
<br />deed of trust ( "Deed of Trust ") dated July 10 , 2000 , covering certain property ( "Trust Property ") including, among other things,
<br />the real estate described in the attached Exhibit A and the buildings, improvements, fixtures and personal property now or in the future
<br />located thereon.
<br />The Assignee has required the execution of this Assignment as a condition to making or accepting the Obligation.
<br />ACCORDINGLY, in consideration of the premises and other good and valuable consideration, the Assignor does hereby grant, transfer
<br />and assign to the Assignee all of the Assignor's right, title and interest in and to (i) any and all present or future leases or tenancies, whether
<br />written or oral, covering or affecting any or all of the Trust Property, together with any and all extensions, modifications and renewals thereof
<br />(each, a "Lease" and collectively, the "Leases "), and (ii) all rents, profits and other income or payments of any kind due or payable or to
<br />become due or payable to the Assignor as the result of any use, possession or occupancy of all or any portion of the Trust Property or as the
<br />result of the use of or lease of any personal property constituting a part of the Trust Property, whether accruing before or after foreclosure of
<br />the Deed of Trust or during the period of redemption thereof ( "Rents "), all for the purpose of securing (a) payment of all indebtedness
<br />evidenced by the Obligation and all other sums secured by the Deed of Trust; and (b) performance and discharge of each and every
<br />obligation, covenant and agreement of the Assignor contained herein and in the Deed of Trust.
<br />The Assignor warrants and covenants that Assignor is and will remain the absolute owner of the Rents and Leases free and clear of all
<br />liens and encumbrances other than the lien granted herein, that Assignor has not previously assigned or otherwise encumbered the
<br />Assignor's interest in any of the Rents or Leases to any other person; that Assignor has the right under applicable law, under the Leases and
<br />otherwise to execute and deliver this Assignment and to keep and perform all obligations hereunder; and that Assignor will warrant and
<br />defend the Leases and Rents against all adverse claims, whether now existing or later arising.
<br />The Assignor further covenants and agrees as follows:
<br />1. PERFORMANCE OF LEASES. The Assignor will faithfully abide by, perform and discharge each and every obligation, covenant and
<br />agreement which it now is or hereafter becomes liable to observe or perform under any present or future Lease, and at the Assignor's
<br />sole cost and expense, will enforce or secure the performance of each and every obligation, under each and every Lease. The Assignor
<br />will observe and comply with all provisions of law applicable to the operation and ownership of the Trust Property. The Assignor will give
<br />prompt written notice to the Assignee of any notice of default on the part of the Assignor with respect to the Lease received from the
<br />tenant thereunder, and will also at Assignor's sole cost and expense, appear in and defend any action or proceeding arising under,
<br />growing out of or in any manner connected with any Lease or the obligations, duties or liabilities of the Assignor or any tenant thereunder.
<br />The Assignor will not lease or otherwise permit the use of all or any portion of the Trust Property for rent that is below the fair market
<br />rent for such property.
<br />2. COLLECTION OF RENTS IN ADVANCE, The Assignor will not collect or accept any Rents for the use or occupancy of the Trust Property
<br />for more than one month in advance. Security deposits shall not be deemed Rents for purposes of this paragraph.
<br />3. PROTECTING THE SECURITY OF THIS ASSIGNMENT. Should the Assignor fail to perform or observe any covenant or agreement
<br />contained in this Assignment, then the Assignee may (but shall have no obligation to) make or do the same in such manner and to such
<br />extent as the Assignee may deem appropriate to protect the security hereof. The rights of the Assignee hereunder shall include but not
<br />be limited to N the right to appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers
<br />of the Assignee, (ii) the right to perform and discharge each and every obligation, covenant and agreement of the Assignor contained in
<br />the Lease, and (iii) the right, in exercising any of the other rights granted hereunder, to pay necessary costs and expenses, employ
<br />counsel and pay reasonable attorneys' fees. The Assignor shall pay on demand all sums expended by the Assignee pursuant to this
<br />paragraph, together with interest thereon at the rate stated by the Note or the rate stated in the most recent obligation covered by the
<br />Guaranty, and the same shall be added to the Obligation secured hereby and by the Deed of Trust.
<br />4. PRESENT ASSIGNMENT. This Assignment shall constitute a perfected, absolute and present assignment; provided that the Assignor shall
<br />have the right to collect all of the Rents (subject to the Section entitled "Collection of Rents in Advance") and to retain, use and enjoy the
<br />same until an Event of Default occurs under the Deed of Trust or the Assignor breaches any warranty or covenant contained in this
<br />Assignment. Any Rents accruing prior to an Event of Default under the Deed of Trust but paid thereafter shall be paid to the Assignee.
<br />5. SURVIVAL OF OBLIGATION. This Assignment is given as security in addition to the Deed of Trust. All of the Assignor's obligations under
<br />The Deed of Trust and this Assignment shall survive foreclosure of the Deed of Trust. The Assignor shall observe and comply with all
<br />terms and conditions contained in the Deed of Trust and in this Assignment and shall preclude any Event of Default from occurring under
<br />the Deed of Trust during the period of redemption following foreclosure of the Deed of Trust.
<br />
|