|
WHEN RECORDED MAIL TO: w
<br />Cn
<br />Minneapolis Loan Ops Center 200308943
<br />�
<br />Attn: Collateral Processing - Rep III
<br />730 2nd Ave. South Suite 1000
<br />Minneapolis, MN 55479 FOR RECORDER'S USE ONLY
<br />d
<br />00000000000000090
<br />ASSIGNMENT OF RENTS
<br />THIS ASSIGNMENT OF RENTS dated July 11, 2003, is made and executed between D & D Investments, A
<br />Nebraska Partnership, whose address is 429 Industrial Lane, Grand Island, NE 68803 (referred to below as
<br />"Grantor ") and Wells Fargo Bank Nebraska, National Association, whose address is 304 W 3rd St, Grand
<br />Island, NE 68801 (referred to below as "Lender ").
<br />ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security interest in, and
<br />conveys to Lender all of Grantor's right, title, and interest in and to the Rents from the following described
<br />Property located in Hall County, State of Nebraska:
<br />Lots Twenty -nine (29) and Thirty (30), West Bel Air Fifth Subdivision, in the City of Grand Island, Hall
<br />County, Nebraska.
<br />The Property or its address is commonly known as 1708 -1714 Doreen, Grand Island, NE 68801. The
<br />Property tax identification number is 400112205
<br />THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL
<br />OBLIGATIONS OF GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED DOCUMENTS. THIS ASSIGNMENT IS GIVEN
<br />AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor shall pay to Lender
<br />all amounts secured by this Assignment as they become due, and shall strictly perform all of Grantor's obligations under this Assignment.
<br />Unless and until Lender exercises its right to collect the Rents as provided below and so long as there is no default under this Assignment,
<br />Grantor may remain in possession and control of and operate and manage the Property and collect the Rents, provided that the granting of
<br />the right to collect the Rents shall 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 claims except as
<br />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 convey the Rents to
<br />Lender.
<br />No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any instrument now in force.
<br />No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights in the Rents except as
<br />provided in this Assignment.
<br />LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no default shall have
<br />occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby given and granted the following
<br />rights, powers and authority:
<br />i
<br />l
<br />4
<br />e
<br />_ �d
<br />M
<br />n
<br />cn
<br />fD
<br />n
<br />Z
<br />�
<br />s
<br />� -, l
<br />�.�
<br />o -,
<br />c8
<br />M
<br />b
<br />t1
<br />N
<br />R, ;�
<br />r =
<br />--I M
<br />s
<br />o
<br />'Tl
<br />0S
<br />—
<br />+�
<br />ITI
<br />vi
<br />r v
<br />C)o
<br />CD
<br />WHEN RECORDED MAIL TO: w
<br />Cn
<br />Minneapolis Loan Ops Center 200308943
<br />�
<br />Attn: Collateral Processing - Rep III
<br />730 2nd Ave. South Suite 1000
<br />Minneapolis, MN 55479 FOR RECORDER'S USE ONLY
<br />d
<br />00000000000000090
<br />ASSIGNMENT OF RENTS
<br />THIS ASSIGNMENT OF RENTS dated July 11, 2003, is made and executed between D & D Investments, A
<br />Nebraska Partnership, whose address is 429 Industrial Lane, Grand Island, NE 68803 (referred to below as
<br />"Grantor ") and Wells Fargo Bank Nebraska, National Association, whose address is 304 W 3rd St, Grand
<br />Island, NE 68801 (referred to below as "Lender ").
<br />ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security interest in, and
<br />conveys to Lender all of Grantor's right, title, and interest in and to the Rents from the following described
<br />Property located in Hall County, State of Nebraska:
<br />Lots Twenty -nine (29) and Thirty (30), West Bel Air Fifth Subdivision, in the City of Grand Island, Hall
<br />County, Nebraska.
<br />The Property or its address is commonly known as 1708 -1714 Doreen, Grand Island, NE 68801. The
<br />Property tax identification number is 400112205
<br />THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL
<br />OBLIGATIONS OF GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED DOCUMENTS. THIS ASSIGNMENT IS GIVEN
<br />AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor shall pay to Lender
<br />all amounts secured by this Assignment as they become due, and shall strictly perform all of Grantor's obligations under this Assignment.
<br />Unless and until Lender exercises its right to collect the Rents as provided below and so long as there is no default under this Assignment,
<br />Grantor may remain in possession and control of and operate and manage the Property and collect the Rents, provided that the granting of
<br />the right to collect the Rents shall 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 claims except as
<br />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 convey the Rents to
<br />Lender.
<br />No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any instrument now in force.
<br />No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights in the Rents except as
<br />provided in this Assignment.
<br />LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no default shall have
<br />occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby given and granted the following
<br />rights, powers and authority:
<br />i
<br />l
<br />4
<br />_ �d
<br />
|