|
ASSIGNMENT OF RENTS
<br />THIS ASSIGNMENT OF RENTS dated December 5, 2002, is made and executed between Timothy C. Plate, a
<br />single person, whose address is 2608 Old Fair Road, Grand Island, NE 68803 (referred to below as "Grantor ")
<br />and Wells Fargo Bank Nebraska, National Association, whose address is 304 W 3rd St, Grand Island, NE
<br />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 B, C and D, in Jones Subdivision. Hall County, Nebraska.
<br />The Property or its address is commonly known as 501 -503 S Cedar, 509 -511 S Cedar & 409 -411 W Louise,
<br />Grand Island, NE 68801. The Property tax identification number is 400050552
<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 />ell 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 Remo 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 bee 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
<br />Rents to be paid directly to Lender or Lender's agent.
<br />d m
<br />ad
<br />be
<br />c
<br />n x
<br />n
<br />>
<br />t,
<br />Cw
<br />N
<br />°t
<br />A
<br />A
<br />is
<br />u
<br />•`t
<br />z a
<br />N t IF
<br />�IFT
<br />h1
<br />2
<br />0
<br />H
<br />0 1
<br />0 =�-
<br />I
<br />t.o j ae
<br />M
<br />I
<br />�
<br />�a
<br />o
<br />y
<br />o
<br />C
<br />WHEN RECORDED MAIL TO:
<br />}
<br />(5
<br />Minneapolis Loan Ops Center
<br />200213780
<br />. se
<br />M
<br />Attn: Collateral Processing - Rep III
<br />' b
<br />(1)
<br />730 2nd Ave. South Suite 1000
<br />Minneapolis MN 55479
<br />FOR
<br />RECORDER'S
<br />USE ONLY
<br />I'pIpI
<br />,r '�
<br />IIIIII
<br />IINNIIII VuV
<br />III IIIIIIII IIII IIII�II�IIII� II
<br />INN��INN�III
<br />IqIq�I'gryqI'�Nry�ryII INNIII
<br />00000000000000090
<br />'
<br />ASSIGNMENT OF RENTS
<br />THIS ASSIGNMENT OF RENTS dated December 5, 2002, is made and executed between Timothy C. Plate, a
<br />single person, whose address is 2608 Old Fair Road, Grand Island, NE 68803 (referred to below as "Grantor ")
<br />and Wells Fargo Bank Nebraska, National Association, whose address is 304 W 3rd St, Grand Island, NE
<br />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 B, C and D, in Jones Subdivision. Hall County, Nebraska.
<br />The Property or its address is commonly known as 501 -503 S Cedar, 509 -511 S Cedar & 409 -411 W Louise,
<br />Grand Island, NE 68801. The Property tax identification number is 400050552
<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 />ell 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 Remo 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 bee 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
<br />Rents to be paid directly to Lender or Lender's agent.
<br />
|