|
II
<br />�1
<br />WHEN RECORDED MAIL TO: 200206223
<br />Minneapolis Loan Ops Center
<br />Attn: Collateral Processing - Rep III
<br />7 30 n Ave. South Suke 1000
<br />Minna2. d olfs MN 55479 FOR RECORDEfl'S USE ONLY
<br />ASSIGNMENT OF RENTS C)
<br />THIS ASSIGNMENT OF RENTS dated June 7, 2002, is made and executed between Grand Island PH, Inc., a 1�
<br />Nebraska Corporation, whose address is 3048 W. Stolley Park Road, Grand Island, NE 68801; (referred to t
<br />below as "Grantor ") and Wells Fargo Bank Nebraska, National Association, whose address is 304 W 3rd St,
<br />Grand Island, NE 68801 (referred to below as "Lander ").
<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 />Lot One (1). Block One (1), Crane Valley Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />The Property or its address is commonly known as 707 N. Diers Avenue, Grand Island, NE 68803. The
<br />Property tax identification number is 400390795
<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 a onus secured by Lin, 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 us provided below and so long as there is no default under this Assignment,
<br />Grantor may remain In possession and central of and operate and manage the Property and collect the Heals, provided that the granting of
<br />the right to collect the Rants shall not constitute Lender's comsem 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 r elve the Rents free and clear of all rights, loan, liens, encumbrances, and claims except as
<br />disclosed to and accepted by I ender 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 Thin Rents to any other person by any instrument now in farce.
<br />No Further Transfer. Grantor will not sell, assign, oncumher, n 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, ender is hereby given and granted the following
<br />rights, powers and authority-
<br />Notice to Tenants. Lender may send notiras to any and all tenants of the Property advising them of this Assignment and directing of
<br />Rents to be paid directly to Lender or Lender's agent.
<br />Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and receive from the tenants or from
<br />any other persons liable lhempi all of the Rents: Institute and carry on all legal proeoedings necessary for the protection of the
<br />s
<br />Properly, including such proceedings a may he necessary to recover possession of the Property: collect the Rents and remove any
<br />tenant or tenants or other persons from the Property.
<br />Maintain the Property. Lender may enter upon the Property to maintain the Property and keep The same in repair; to pay the costs
<br />themof and of all services of all employees, Including their equipment, and of all confinuiny costs antl expenses of maintaining the
<br />m
<br />T
<br />n
<br />T 1
<br />ti
<br />"R
<br />m
<br />~
<br />O
<br />Z
<br />N N
<br />O
<br />j
<br />y
<br />�
<br />N
<br />U
<br />c1e) O
<br />CO
<br />be
<br />WHEN RECORDED MAIL TO: 200206223
<br />Minneapolis Loan Ops Center
<br />Attn: Collateral Processing - Rep III
<br />7 30 n Ave. South Suke 1000
<br />Minna2. d olfs MN 55479 FOR RECORDEfl'S USE ONLY
<br />ASSIGNMENT OF RENTS C)
<br />THIS ASSIGNMENT OF RENTS dated June 7, 2002, is made and executed between Grand Island PH, Inc., a 1�
<br />Nebraska Corporation, whose address is 3048 W. Stolley Park Road, Grand Island, NE 68801; (referred to t
<br />below as "Grantor ") and Wells Fargo Bank Nebraska, National Association, whose address is 304 W 3rd St,
<br />Grand Island, NE 68801 (referred to below as "Lander ").
<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 />Lot One (1). Block One (1), Crane Valley Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />The Property or its address is commonly known as 707 N. Diers Avenue, Grand Island, NE 68803. The
<br />Property tax identification number is 400390795
<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 a onus secured by Lin, 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 us provided below and so long as there is no default under this Assignment,
<br />Grantor may remain In possession and central of and operate and manage the Property and collect the Heals, provided that the granting of
<br />the right to collect the Rants shall not constitute Lender's comsem 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 r elve the Rents free and clear of all rights, loan, liens, encumbrances, and claims except as
<br />disclosed to and accepted by I ender 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 Thin Rents to any other person by any instrument now in farce.
<br />No Further Transfer. Grantor will not sell, assign, oncumher, n 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, ender is hereby given and granted the following
<br />rights, powers and authority-
<br />Notice to Tenants. Lender may send notiras to any and all tenants of the Property advising them of this Assignment and directing of
<br />Rents to be paid directly to Lender or Lender's agent.
<br />Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and receive from the tenants or from
<br />any other persons liable lhempi all of the Rents: Institute and carry on all legal proeoedings necessary for the protection of the
<br />s
<br />Properly, including such proceedings a may he necessary to recover possession of the Property: collect the Rents and remove any
<br />tenant or tenants or other persons from the Property.
<br />Maintain the Property. Lender may enter upon the Property to maintain the Property and keep The same in repair; to pay the costs
<br />themof and of all services of all employees, Including their equipment, and of all confinuiny costs antl expenses of maintaining the
<br />
|