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<br />WHEN RECORDED MAIL TO: 200205830
<br />Minneapolis Loan Ops Center
<br />Attn: Collateral Processing - Rep III
<br />730 2nd Ave. South Suite 1000
<br />Minneapolis, MN 55479 FOR RECORDER'S USE ONLY
<br />ASSIGNMENT OF RENTS
<br />THIS ASSIGNMENT OF RENTS dated May 31, 2002, is made and executed between Norman L. Nietfeldt and
<br />Charlene M. Nietfeldt, husband and wife, whose address is 1606 Roberta Avenue, Grand Island, NE 68803; \
<br />(referred to below as "Grantor ") and Wells Fargo Bank Nebraska, National Association, whose address is 304
<br />W 3rd St, Grand 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 />Parcel 1: Lot Five (5), in Block Sixty -Five (65), in Wheeler and Bennett's Second Addition To the City of
<br />Grand Island, Hall County, Nebraska.
<br />Parcel 2: Lot Seventy -Nine (79), in Buenavista Subdivision, an Addition to the City of Grand Island, Hall
<br />County, Nebraska.
<br />Parcel 3: Lot (5), Wolfe's Third Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />The Property or its address is commonly known as 1219 N. Vine, Grand Island, NE 68801; 327 South Street,
<br />Grand Island, NE 68801; 637 Kennedy Drive, Grand Island, NE 68803. The Property tax identification number
<br />is Parcel 1: 400124270, Parcel 2: 400027518, Parcel 3: 400142465
<br />THIS ASSIGNMENT IS GIVEN TO SECURE (11 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 />Notice to Tenants. Lender may send notices to any and all tenants of the Property advising them of this Assignment and directing all
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