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<br />Recording Requested By,
<br />And After Recording, Return To:
<br />WELLS FARGO BANK,
<br />NATIONAL ASSOCIATION
<br />304 W. 3rd Street
<br />Grand Island, NE 68801
<br />Attn: Bradley T. Bell
<br />
<br />200702858
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<br />ASSUMPTION AGREEMENT OF ASSIGNMENT OF RENTS
<br />
<br />Af!!.t L ----
<br />THIS ASSUMPTION AGREEMENT (this "Agreement") is entered into as of MerCfl ~, 2007 by and
<br />between Donald D. Mehring, not personally but as Trustee on behalf of The Nancy A. Erwin Trust under
<br />Agreement dated June 23, 1989 ('The Nancy Erwin Trust", a "Grantor"); Nancy A. Erwin, individually
<br />("Initial Transferee"); Nancy A. Erwin, Trustee of the Nancy A. Erwin Declaration of Trust dated March 10,
<br />1986 (the "Nancy Erwin Declaration of Trust" and "Transferee"); and Wells Fargo Bank, National
<br />Association, a national banking association ("Lender").
<br />
<br />RECITALS
<br />
<br />WHEREAS, Donald D. Mehring obtained a loan from Lender evidenced by, and subject to the
<br />terms of, that certain promissory note dated as of December 31, 2003, in the original principal amount of
<br />$280,000.00 (the "Note"), secured by an Assignment of Rents executed by The Nancy Erwin Trust,
<br />having an undivided one-half interest, and by Donald D. Mehring and Marilyn J. Mehring, husband and
<br />wife, having an undivided one~half interest, each a Grantor, to Lender dated as of December 31, 2003
<br />and recorded on January 9, 2004, as Instrument No. 02004002178, of the Official Records of Hall
<br />County, Nebraska (the "Assignment"), with respect to the real property described on Exhibit A attached
<br />hereto and incorporated herein by this reference.
<br />
<br />WHEREAS, The Nancy Erwin Trust transferred all of its interest in the title to the real property
<br />encumbered by the Assignment (the "Property") to Nancy A. Erwin, individually, and subsequently, Nancy
<br />A. Erwin, individually, transferred all of her interest in the title to the Property to the Nancy Erwin
<br />Declaration of Trust.
<br />
<br />WHEREAS, The Nancy Erwin Trust, Nancy A. Erwin, individually, and the Nancy Erwin
<br />Declaration of Trust have requested that Lender consent to such transfers and permit the assumptions by
<br />the Nancy Erwin Declaration of Trust of the obligations of The Nancy Erwin Trust, to Lender under the
<br />Assignment, and Lender has agreed to said transfers and assumptions on the terms and conditions
<br />contained herein.
<br />
<br />NOW, THEREFORE, in consideration of the mutual covenants and promises of the parties
<br />contained herein, the parties agree as follows:
<br />
<br />1. ASSUMPTION. The Nancy A. Erwin Declaration of Trust assumes and will pay when
<br />due all sums now due and owing or to become due or owing under the Assignment, and will hereafter
<br />faithfully perform and, subject to the provisions of this Agreement, be bound by all terms and conditions of
<br />the Assignment and any other instruments, agreements and documents evidencing the obligations of The
<br />Nancy Erwin Trust owed to Lender under the Assignment as if it was the original party thereto.
<br />
<br />2. RELEASE OF GRANTOR. The Nancy Erwin Trust is hereby released from any
<br />obligations accruing under the Assignment from and after the later to occur of:
<br />
<br />Assumption of Assignment of Rents - Donald Mehring Note 1
<br />
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