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200701957
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Last modified
3/16/2007 7:55:08 AM
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3/16/2007 7:55:08 AM
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DEEDS
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200701957
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<br />200701957 <br /> <br />This Assignment is given as security for the indebtedness mentioned hereinabove and as <br />security for such other sums as may be advanced in accordance with the Promissory Note, <br />Financing Statement and Sccurity Agreement; and this Conditional Assignment, hereinafter <br />referred to as "Loan Documents". In the event such indebtedness, future advances, interest and <br />such other sums as may be advanced in accordance with the terms of the aforementioned Loan <br />Documents are well and truly paid in accordance with the terms therein contained, then this <br />Assignment shall be void, otherwise to remain in full force and effect. <br /> <br />The undersigned Assignor shall continue to make all payments to be made in accordance <br />with Assignor's Lease Agreement in respect to the above-described real estate and any renewals <br />and extensions of that Lease Agreement as they become due. Should at any time a default be <br />declared in respect to such Lease Agreement, Assignee may, at its option, advance such sums as <br />may be necessary to cure such default and thereupon enter into possession of the Assignor's <br />leasehold interest. Upon entering into possession of Assignor's leasehold interest, Assignee shall <br />have the right to use, sublease and collect rentals from such subleasing as may be permitted by <br />Lessor in respect to the leasehold interest herein assigned. All expenses incurred by Assignee in <br />taking possession of the leasehold interest to protect its security interest therein shall be secured <br />by this Assignment, and any sums so advanced shall earn interest from the date such funds are <br />advanced at a rate equivalent to that provided in the aforementioned Promissory Note. It is <br />expressly understood that nothing herein contained shall be construed as a covenant or <br />agreement to pay any part of the rent or other consideration in respect to the Lease hereinabove <br />described. <br /> <br />The failure of the Assignee to assert any of its rights hereunder at any time shall not be <br />construed as a waiver of its right to assert the same at any later time and to insist upon and <br />enforce strict compliance with all the terms and provisions of said Loan Documents. <br /> <br />This Conditional Assignment of Lease shall be binding upon the parties hereto and their <br />respective personal representatives, devisees, legatees, heirs-at-Iaw and assigns. <br /> <br />Dated this 15th day of March, 2007. <br /> <br />By~_ <br />J effre <br /> <br /> <br />WENDGRAND, LL <br />Liability Company <br /> <br />STATEOF MC.l..Vlukt ) <br />(ss: <br />COUNTY OF Au 1.1.. 'tWit) <br /> <br />The foregoing Conditional Assignment of Lease was acknowledged before me this J.'2_fH <br />day of March, 2007 by Lewis E. Topper and Jeffrey 1. Coghlan, Managers of Wend grand, LLC, <br />a Nebraska limited liability company on behalf of such limit d liability company. <br /> <br />My Commission Expires: <br /> <br />( I Notary Public <br />fA ;t'(tl(\ <br /> <br /> <br />WAYNE R. LEHRHAUPT <br />Notary Public. State of New York <br />No. 31.4609162 <br />Qualified in New York County j/\ <br />Commission Expires Feb. 28. 20...L.Y <br /> <br />2-2181168204v4 <br />
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