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<br />ASSlrnloENl' 01' IlIi:AL esrJ\'ll:: u:'.II.!;E AND A(~I'
<br />88- 106890
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<br />onu. ...i9Ml'"t ot 10ue end agresoont rnedc end entered into by end between
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<br />Ralph J. & Vickie C. LaRosa (Lessee--hereinafter called .Ilcr~"), ard
<br />r Donald D. Nehring. Rebecca L. Kehring, Lauren A. Erwin
<br />NRnr:v ^ F.rwi n Frpn Mphri no 8, Hp I FIn M Mphri "r
<br />
<br />,O"i
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<br />(here.ln&l!ter celled "Lessor"), ard
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<br />Northw@st National Bank & U.S. Small Business AdministratidJbereinafter called "Assignee"):
<br />Witnesseth.
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<br />Whereb., Bon:gwer has heretofore leased fran Lessor eert:ain real properl:y by lease
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<br />, for a
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<br />, of the records of
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<br />f 5 yrs + optioo
<br />term 0 0[ udllt'l 5 }'l"!. ye<<rs.
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<br />dAted Sept 30. 19B8
<br />the County of
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<br />, recorded in Ilool< __, Page
<br />, State of
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<br />end d...=u.s All fol1OW11'
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<br />Part af LGt One (1). Cone!lto811 HOiC"th, Sixth (6) Subdivision to the City of Gnnd Is18nd Hall Co
<br />Nebraska. Hore pal'tt.culaE'ly described: Beginning at the point of the Southwest Corner' of said URty
<br />Subdivision, then Horth alons the West boundary of said subdivision II distance of thirty six and one
<br />tenth feet (36.1 ft). thence Easurly and puallel to the South boundary of said subdivision B
<br />dilltance of one hundred sixty five end one tenth feet (165,1 ft). thence Northerly perallel to the
<br />Wellt boundary of said subdivision a distance of fifty feet (50 ft), to the actual point of beginning
<br />Thence continuing Northerly sixty feet (60 ft). thence Westerly and parallel to the South boundary
<br />of said 8ubdivislon B distance of thiny seven feet (37 ft), thence South and parallel to the West
<br />boundary of said subdivision a dhtance of thirty feet (30 ft), thence West and parallel to the
<br />South boundery of said subdivision a distance of forty three feet (43 ft). thence South anll
<br />parallel to the West boundary of said subdivision a distance of thirty feet (30 ft) then East and
<br />parallel to the South boundary of said subdivision a distance of eighty feet (80 ft).. 'co the point of
<br />beginning I containin. approxill&te1y 3.660 square feet, and also the CQllUllona area of this subdivision..
<br />I Property located at 3421 West Stete Street..
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<br />And, Whereas, Assignee has authorized the making of a loan to Ilcnower in the anount
<br />
<br />)f
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<br />*Sixty thousand dollars & 00/100** (60.000.00)
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<br />Collars due and
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<br />>eyab1e on or before December 15. 1993
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<br />And, Whereas, such loan is for the benefit of both BorrOWer and Lessor, in that the
<br />turds Are to be used for the benefit of the l:01siness conducted on the leased premises 1
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<br />Now, '1'herefore, for ard in cxmsideration of the premises and of disburserrent of said
<br />loan or arty part thereof, BorrOWer, wieh the consent of Lessor, hereby Assigns, Transfers and
<br />:onveys unto Assignee the lease above described, To Have and To Hold the sarre for and during the
<br />remainder of the term Jrentioned in the lease, and all renewals and extensions of said term.
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<br />A. !llIlJ:roo,er and Lessor further covenant and l\gree:
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<br />1. Borrower is rot roJ in default in the perfClIlMJlCe of lease; ~ Ilcrrower and
<br />Lessor will each perform the covenants and lXlIditions required of him by said
<br />lease for the term of said loan end any extensions or renewal of it.
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<br />2. EKcept as otherwise herein permitted, Ilcrz:t7<ler and Lessor will rot, alone or
<br />by agreerrent bebt/een them, ncdify or terminate said lease without consent of
<br />Assignee.
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<br />3. In the event: of default: by Borrowel: und.... the t:e:mII of &aiel l......e, Lessor shall
<br />have the right to terminate said lease in accordance with its tezms, Provided.
<br />However, Lessor shall first give Assignee 60 days written notice of such
<br />default and the right, at the option of Assignee, during such period, .t,l?, ,!='!F.."..,
<br />such default, and during such period, Lessor will take npaction. to en(or!;l'!,'
<br />its claim arising fran such default without Assignee's oohsent., .1
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<br />4. In the event of any default by Ilcrrower in the performance of any of the
<br />obligations of tUs rote to Assignee evidencing the aforesaid loan, any renewal
<br />or extension th....eof, or any other agresrent made in connection therewith.
<br />incluling tUs agreerrents herein, then, Assignee, at its option, may, witl-Dut
<br />rotice, using such force as may. be necessary, enter said leased premises and
<br />do any one or nore of the following'
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<br />a. Rsrove all property of IlorI:oWer therefmn that is hyp:lthecated as collateral
<br />for its aforenentioned loan.
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<br />b. Sell the property referred to in paragraph a. on said premises.
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