|
cn�
<br />CIO
<br />■�� FLN
<br />low
<br />N r
<br />Space Above This Line For Recording Data Z
<br />200508012
<br />ASSIGNMENT OF LEASES AND RENTS 11�
<br />DATE AND PARTIES. The date of this Assignment of Leases and Rents (Assignment) is August 16, 2005. The
<br />parties and their addresses are:
<br />ASSIGNOR:
<br />WESTGATE PROPERTIES, L.L.C.
<br />A Nebraska Limited Liability Company
<br />2716 West Old Highway 30
<br />Grand Island, Nebraska 68803
<br />THOMAS E MIDDLETON
<br />An unmarried individual
<br />1716 Allegheny Circle
<br />Grand Island, Nebraska 68801
<br />LENDER:
<br />PLATTE VALLEY STATE BANK &TRUST COMPANY
<br />Organized and existing under the laws of Nebraska
<br />810 Allen Drive
<br />Grand Island, Nebraska 68803
<br />TIN: 47- 0343902
<br />1. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Assignment at any one time will
<br />not exceed $3,250,000.00. This limitation of amount does not include interest and other fees and charges
<br />validly made pursuant to this Assignment. Also, this limitation does not apply to advances made under the
<br />terms of this Assignment to protect Lender's security and to perform any of the covenants contained in this
<br />Assignment.
<br />2. SECURED DEBTS. This Assignment will secure the following Secured Debts:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note or other agreement, No. 298906 -100, dated August 16, 2005, from
<br />Assignor to Lender, with a loan amount of $3,250,000.00.
<br />B. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this
<br />Assignment.
<br />3. ASSIGNMENT OF LEASES AND RENTS. For good and valuable consideration, the receipt and sufficiency of
<br />which is acknowledged, and to secure the Secured Debts and Assignor's performance under this Assignment,
<br />Assignor assigns, grants and conveys to Lender as additional security all the right, title and interest in the
<br />following (Property).
<br />A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for
<br />the use and occupancy of the Property, including but not limited to any extensions, renewals, modifications
<br />or replacements (Leases).
<br />B. Rents, issues and profits, including but not limited to security deposits, minimum rents, percentage rents,
<br />additional rents, common area maintenance charges, parking charges, real estate taxes, other applicable
<br />taxes, insurance premium contributions, liquidated damages following default, cancellation premiums, "loss
<br />of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, contract rights,
<br />general intangibles, and all rights and claims which Assignor may have regarding the Property (Rents).
<br />C. The term Property as used in this Assignment shall include the following described real property:
<br />Lot Two (2 ), Crane Valley 4th Subdivision in the City of Grand Island, Hall County, Nebraska
<br />The property is located in Hall County at 1004 Diers Ave, Grand Island, Nebraska 68803.
<br />In the event any item listed as Leases or Rents is determined to be personal property, this Assignment will also
<br />be regarded as a security agreement.
<br />Westgate Properties, L.L.C.
<br />Nebraska Assignment of Leases and Rents Initials
<br />NE( 4XX28333000815100004558020081605Y ®1996 Bankers Systems, Inc., St. Cloud, MN Eli i„ Page 1
<br />A
<br />n
<br />n
<br /><_,
<br />""
<br />M
<br />r"
<br />CA
<br />c
<br />rn
<br />rn
<br />71
<br />CZ)
<br />a
<br />Q
<br />ri
<br />e
<br />�
<br />r—`
<br />r--
<br />Co
<br />A
<br />©
<br />CZ)
<br />Space Above This Line For Recording Data Z
<br />200508012
<br />ASSIGNMENT OF LEASES AND RENTS 11�
<br />DATE AND PARTIES. The date of this Assignment of Leases and Rents (Assignment) is August 16, 2005. The
<br />parties and their addresses are:
<br />ASSIGNOR:
<br />WESTGATE PROPERTIES, L.L.C.
<br />A Nebraska Limited Liability Company
<br />2716 West Old Highway 30
<br />Grand Island, Nebraska 68803
<br />THOMAS E MIDDLETON
<br />An unmarried individual
<br />1716 Allegheny Circle
<br />Grand Island, Nebraska 68801
<br />LENDER:
<br />PLATTE VALLEY STATE BANK &TRUST COMPANY
<br />Organized and existing under the laws of Nebraska
<br />810 Allen Drive
<br />Grand Island, Nebraska 68803
<br />TIN: 47- 0343902
<br />1. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Assignment at any one time will
<br />not exceed $3,250,000.00. This limitation of amount does not include interest and other fees and charges
<br />validly made pursuant to this Assignment. Also, this limitation does not apply to advances made under the
<br />terms of this Assignment to protect Lender's security and to perform any of the covenants contained in this
<br />Assignment.
<br />2. SECURED DEBTS. This Assignment will secure the following Secured Debts:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note or other agreement, No. 298906 -100, dated August 16, 2005, from
<br />Assignor to Lender, with a loan amount of $3,250,000.00.
<br />B. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this
<br />Assignment.
<br />3. ASSIGNMENT OF LEASES AND RENTS. For good and valuable consideration, the receipt and sufficiency of
<br />which is acknowledged, and to secure the Secured Debts and Assignor's performance under this Assignment,
<br />Assignor assigns, grants and conveys to Lender as additional security all the right, title and interest in the
<br />following (Property).
<br />A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for
<br />the use and occupancy of the Property, including but not limited to any extensions, renewals, modifications
<br />or replacements (Leases).
<br />B. Rents, issues and profits, including but not limited to security deposits, minimum rents, percentage rents,
<br />additional rents, common area maintenance charges, parking charges, real estate taxes, other applicable
<br />taxes, insurance premium contributions, liquidated damages following default, cancellation premiums, "loss
<br />of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, contract rights,
<br />general intangibles, and all rights and claims which Assignor may have regarding the Property (Rents).
<br />C. The term Property as used in this Assignment shall include the following described real property:
<br />Lot Two (2 ), Crane Valley 4th Subdivision in the City of Grand Island, Hall County, Nebraska
<br />The property is located in Hall County at 1004 Diers Ave, Grand Island, Nebraska 68803.
<br />In the event any item listed as Leases or Rents is determined to be personal property, this Assignment will also
<br />be regarded as a security agreement.
<br />Westgate Properties, L.L.C.
<br />Nebraska Assignment of Leases and Rents Initials
<br />NE( 4XX28333000815100004558020081605Y ®1996 Bankers Systems, Inc., St. Cloud, MN Eli i„ Page 1
<br />
|