|
<br />I\.)
<br />is
<br />is
<br />0)
<br />is
<br />is
<br />->.
<br />->.
<br />is
<br />
<br />[
<br />3
<br />~
<br />i'
<br />-)
<br />+-
<br />r-
<br />r
<br />.r
<br />ro
<br />v'
<br />G
<br />
<br />Bu . RE C ,YT: i-il ,5:; nrr'E R ~.. o.
<br />,\, I,. I . ,,_,' .:,.,. I,,' ._:1... r:;. r~ ,.. L.
<br />AI ' ,. .::(::I"{ 509 ?\GE
<br />NI CCS
<br />Mortgages 279
<br />2DD5 DEe 30 MilO: 27
<br />
<br /> ''-> ,1")
<br /> ~ ('") (f)
<br /> <:::::> o~
<br /> ~ 0, 0-1
<br /> c._ c:: 1>
<br /> :;z-l ~f!
<br />~~ ::0 -l1Tl
<br />:z -<0
<br /> o "'TJ o~
<br />ir en "T1z
<br /> :x: rrl ~I
<br />::0 :t> ro
<br />::3 r- ::n
<br />r :t>
<br />...... (f)
<br />........ ;:>0:::
<br /> )>
<br /> en ..................
<br /> ...r: (.f)
<br /> (.f) O2
<br />n ~ 0
<br />:J:
<br />m
<br />n :J:
<br />;;ll;
<br />
<br />RECORDATION
<br />REQUESTED BY:
<br />Bremer Bank, National
<br />Association
<br />Rugby Office
<br />1444 45th Street SW
<br />Fargo, ND 58103
<br />
<br />
<br />WHEN RECORDED MAIL
<br />TO:
<br />
<br />Fee $25.50
<br />Will call-Landmark Title
<br />& Escrow, Inc.
<br />
<br />Bremer Bank
<br />PO Box 169
<br />Rugby,N~8368
<br />
<br />SEND TAX NOTICES TO:
<br />INREIT PROPERTIES lllP
<br />216 BROADWAY SUITE
<br />202
<br />MINOT. ND 58701
<br />
<br />~
<br />C
<br />Z
<br />o
<br />~
<br />
<br />
<br />R RECORDER'S USE ONLY
<br />
<br />200600110
<br />~~
<br />n (n
<br />;;ll;::r:
<br />
<br />ASSIGNMENT OF RENTS
<br />
<br />,-s <SD
<br />
<br />-~
<br />r
<br />\)
<br />
<br />t
<br />
<br />THIS ASSIGNMENT OF RENTS dated December 23. 2005. is made and executed between
<br />INREIT PROPERTIES LLLP. whose address is 216 BROADWAY SUITE 202. MINOT. ND 58701;
<br />A Limited Liability Partnership (referred to below as "Grantor") and Bremer Bank. National
<br />Association. whose address is 1444 45th Street SW, Fargo, ND 58103 (referred to below as
<br />"Lender").
<br />
<br />ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security
<br />interest in, and conveys to Lender all of Grantor's right, title, and interest in and to the Rents
<br />from the following described Property located in HALL AND PLATTE County, State of Nebraska:
<br />
<br />LOT 2, WARREN THIRD SUBDIVISION, IN THE CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA
<br />-AND-
<br />LOT 1, KLEIN SUBDIVISION, A SUBDIVISION OF LOT 1, BLOCK C, WESTBROOK
<br />ADDITION TO THE CITY OF COLUMBUS, PLATTE COUNTY, NEBRASKA
<br />
<br />The legal description was obtained from a previously recorded instrument.
<br />
<br />The Property or its address is commonly known as 214 PIPER STREET, GRAND ISLAND, NE
<br />
<br />68803 AND 3386 53RD AVE, COLUMBUS, NE 68601.
<br />
<br />THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY
<br />AND All OBLIGATIONS OF GRANTOR UNDER THE NOTE. THIS ASSIGNMENT. AND THE RELATED DOCUMENTS.
<br />THIS ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOllOWING TERMS:
<br />
<br />PA YMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor
<br />shall pay to lender all amounts secured by this Assignment as they become due, and shall strictly perform all of
<br />Grantor's obligations under this Assignment. Unless and until lender exercises its right to collect the Rents as provided
<br />below and so long as there is no default under this Assignment, Grantor may remain in possession and control of and
<br />operate and manage the Property and collect the Rents, provided that the granting of the right to collect the Rents shall
<br />not constitute lender's consent to the use of cash collateral in a bankruptcy proceeding.
<br />
<br />GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that:
<br />
<br />Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans, liens, encumbrances, and
<br />claims except as disclosed to and accepted by Lender in writing.
<br />
<br />Right to Assign. Grantor has the full right, power and authority to enter into this Assignment and to assign and
<br />convey the Rents to Lender.
<br />
<br />No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any
<br />instrument now in force.
<br />
<br />No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights in the
<br />Rents except as provided in this Assignment.
<br />
<br />lENDER'S RIGHT TO RECEIVE AND COllECT RENTS. lender shall have the right at any time, and even though no
<br />default shall have occurred under this Assignment, to collect and receive the Rents. For this purpose, lender is hereby
<br />given and granted the following rights, powers and authority:
<br />
<br />Notice to Tenants. lender may send notices to any and all tenants of the Property advising them of this
<br />Assignment and directing all Rents to be paid directly to lender or lender's agent.
<br />
<br />Enter the Property. lender may enter upon and take possession of the Property; demand, collect and receive from
<br />the tenants or from any other persons liable therefor, all of the Rents; institute and carryon all legal proceedings
<br />necessary for the protection of the Property, including such proceedings as may be necessary to recover
<br />possession of the Property; collect the Rents and remove any tenant or tenants or other persons from the Property.
<br />
<br />Maintain the Property. lender may enter upon the Property to maintain the Property and keep the same in repair;
<br />to pay the costs thereof and of all services of all employees, including their equipment, and of all continuing costs
<br />and expenses of maintaining the Property in proper repair and condition, and also to pay all taxes, assessments and
<br />water utilities, and the premiums on fire and other insurance effected by Lender on the Property.
<br />
<br />Compliance with laws. lender may do any and all things to execute and comply with the laws of the State of
<br />
<br />"')'~Cli
<br />t<" , ..]
<br />
<br />I ,
<br />..--'
<br />
|