|
N
<br />B
<br />Ns
<br />N�
<br />mmairmCO_____
<br />W
<br />WHEN RECORDED MAIL TO:
<br />CORNERSTONE BANK
<br />�p0 Y(F /�
<br />2
<br />%��acra, NE 68818-0386 6 g41(Q7- f q? /
<br />rJ
<br />C:7
<br />C)
<br />FOR RECORDER'S USE ONLY
<br />ASSIGNMENT OF RENTS
<br />THIS ASSIGNMENT OF RENTS dated November 1, 2022, is made and executed between
<br />Kenneth G. Meyer, whose address is 22 Kuester Lk, Grand Island, NE 68801 and Angela
<br />Meyer, whose address is 22 Kuester Lk, Grand Island, NE 68801; Husband and Wife (referred
<br />to below as "Grantor") and CORNERSTONE BANK, whose address is 1206 13th Street, P.O.
<br />Box 386, Aurora, NE 68818-0386 (referred to below as "Lender").
<br />ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security
<br />interest in, and conveys to Lender all of Grantor's right, title, and interest in and to the Rents
<br />from the following described Property located in Hall County, State of Nebraska:
<br />Lot 7 and the East half of Lot 8 situated on the West side of the West Portion of Kuester
<br />Lake, in Sectionl3, Township 11 North, Range 9 West of the 6th P.M., Hall County,
<br />Nebraska.
<br />The Property or its address is commonly known as 22 Kuester Lk, Grand Island, NE 68801.
<br />The Property tax identification number is 400206528.
<br />REVOLVING LINE OF CREDIT. This Assignment secures the Indebtedness including, without limitation, a revolving line
<br />of credit, which obligates Lender to make advances to Grantor so long as Grantor complies with all the terms of the
<br />Credit Agreement. Such advances may be made, repaid, and remade from time to time, subject to the limitation that
<br />the total outstanding balance owing at any one time, not including finance charges on such balance at a fixed or
<br />variable rate or sum as provided in the Credit Agreement, any temporary overages, other charges, and any amounts
<br />expended or advanced as provided in either the Indebtedness paragraph or this paragraph, shall not exceed the Credit
<br />Limit as provided in the Credit Agreement. It is the intention of Grantor and Lender that this Assignment secures the
<br />balance outstanding under the Credit Agreement from time to time from zero up to the Credit Limit as provided in the
<br />Credit Agreement and any intermediate balance.
<br />COLLATERAL DESCRIPTION. The word "Rents" as used in this Assignment means all of Grantor's present and future
<br />rights, title and interest in, to and under the following described specific Lease of all or a portion of the property
<br />described in the "Assignment" section herein.
<br />The following is a general description of the specific lease:
<br />LEASE TYPE: Annual
<br />Lease Date: September 30, 2022
<br />Start Date: September 30, 2022
<br />End Date: September 20, 2121
<br />Lesseels): Kenneth G. Meyer and Angela Meyer, 22 Kuester Lk, Grand Island,
<br />NE 68801
<br />Description of the Premises: 22 Kuester Lake, Grand Island, NE 68801-8609
<br />Rental Amount:
<br />Deposit Amount:
<br />Lease Terms:
<br />Recording Data: 10/03/2022
<br />THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY
<br />AND ALL OBLIGATIONS OF GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED DOCUMENTS.
<br />THIS ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor
<br />shall pay to Lender all amounts secured by this Assignment as they become due, and shall strictly perform all of
<br />Grantor's obligations under this Assignment. Unless and until Lender exercises its right to collect the Rents as provided
<br />below and so long as there is no default under this Assignment, Grantor may remain in possession and control of and
<br />operate and manage the Property and collect the Rents, provided that the granting of the right to collect the Rents shall
<br />not constitute Lender's consent to the use of cash collateral in a bankruptcy proceeding.
<br />GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that:
<br />Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans, liens, encumbrances, and
<br />claims except as disclosed to and accepted by Lender in writing.
<br />Right to Assign. Grantor has the full right, power and authority to enter into this Assignment and to assign and
<br />convey the Rents to Lender.
<br />No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any
<br />ENTERED AS INSTRUMENT
<br />Dpi
<br />
|