|
<br /> ~ n ()
<br /> :L )> """
<br /> .." m (11 <=..> C') 0 f
<br /> c () :x: c::> C> --1 CJ
<br /> Z ~~ -..,:,
<br /> n A (::l> N
<br /> ~ 0 c...... z-l
<br /> :J: ~~' c::::
<br />I'\.) m ~ r- -irl1 0
<br />iSl n C/') <."":> - -<0
<br />iSl ,.; :J: ~ Q'l 0 Gr
<br />-.....j 0 CO ..,.,
<br /> "'T1 :z -.J
<br />iSl r
<br />0') 0 ::I: fT1 :r
<br />iSl In f"T1 -0 P- m 0
<br />-..J f"T1 ::3 r- :::0 ~
<br />(.U (]I 0 r l> en
<br /> c.n ~ (f) CJ
<br /> N ;:00:; i
<br /> l> -.J
<br /> 0 ~'::,-",",
<br /> N (;I) c..J
<br /> VI Z
<br /> ,.
<br /> '""'
<br />
<br />WHEN RECORDED MAIL TO:
<br />Exchange Bank
<br />P.O. Box 760
<br />#14 LaBarre
<br />Gibbon, NE 68840
<br />
<br />~Ol So
<br />FOR RECORDER'S USE ONLY
<br />
<br />ASSIGNMENT OF RENTS
<br />
<br />THIS ASSIGNMENT OF RENTS dated March 6, 2007, is made and executed between Darryl G Wilhelmi Sr., A
<br />Single Person (referred to below as "Grantor") and Exchange Bank. whose address is P.O. Box 760, #14
<br />LaBarre, Gibbon, NE 68840 (referred to below as "Lender").
<br />
<br />ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security interest in, and
<br />
<br />conveys to Lender all of Grantor's right, title, and interest in and to the Rents from the following described
<br />
<br />Property located in Hall County, State of Nebraska:
<br />
<br />Lot Five (5), in Woodland First Subdivision, an Addition to the City of Grand Island, Hall County, Nebraska,
<br />
<br />Excepting a tract of land more particularly described in Deed recorded as Document No. 200010612.
<br />
<br />The Property or its address is commonly known as 2912 S Locust Street, Grand Island, NE 68801.
<br />
<br />CROSS-COLLATERALlZATION. In addition to the Note, this Assignment secures all obligations, debts and liabilities, plus interest thereon,
<br />of Grantor to Lender, or anyone or more of them, as well as all claims by Lender against Grantor or anyone or more of them, whether
<br />now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or
<br />not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Grantor may be liable
<br />individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon
<br />such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts
<br />may be or hereafter may become otherwise unenforceable.
<br />
<br />FUTURE ADVANCES. In addition to the Note, this Assignment secures all future advances made by Lender to Grantor whether or not the
<br />advances are made pursuant to a commitment. Specifically, without limitation, this Assignment secures, in addition to the amounts
<br />specified in the Note, all future amounts Lender in its discretion may loan to Grantor, together with all interest thereon.
<br />
<br />THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL
<br />OBLIGATIONS OF GRANTOR UNDER THE NOTE. THIS ASSIGNMENT, AND THE RELATED DOCUMENTS. THIS ASSIGNMENT IS GIVEN
<br />AND ACCEPTED ON THE FOLLOWING TERMS:
<br />
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor shall pay to Lender
<br />all amounts secured by this Assignment as they become due, and shall strictly perform all of Grantor's obligations under this Assignment.
<br />Unless and until Lender exercises its right to collect the Rents as provided below and so long as there is no default under this Assignment,
<br />Grantor may remain in possession and control of and operate and manage the Property and collect the Rents, provided that the granting of
<br />the right to collect the Rents shall 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 claims except as
<br />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 convey the Rents to
<br />Lender.
<br />
<br />No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any 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 Rents except as
<br />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 default shall have
<br />occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is hereby given and granted the following
<br />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 Assignment and directing all
<br />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 the tenants or from
<br />any other persons liable therefor, all of the Rents; institute and carryon all legal proceedings necessary for the protection of the
<br />Property, including such proceedings as may be necessary to recover possession of the Property; collect the Rents and remove any
<br />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; to pay the costs
<br />thereof and of all services of all employees, including their equipment, and of all continuing costs and expenses of maintaining the
<br />Property in proper repair and condition, and also to pay all taxes, assessments and water utilities, and the premiums on fire and other
<br />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 Nebraska and also all
<br />other laws, rules, orders, ordinances and requirements of all other governmental agencies affecting the Property.
<br />
<br />Loase the Property. Lender may rent or lease the whole or any part of the Property for such term or terms and on such conditions as
<br />Lender may deem appropriate.
<br />
<br />Employ Agents. Lender may engage such agent or agents as Lender may deem appropriate, either in Lender's name or in Grantor's
<br />name, to rent and manage the Property, including the collection and application of Rents.
<br />
<br />Other Acts. Lender may do all such other things and acts with respect to the Property as Lender may deem appropriate and may act
<br />exclusively and solely in the place and stead of Grantor and to have all of the powers of Grantor for the purposes stated above.
<br />
<br />No Requirement to Act. Lender shall not be required to do any of the foregoing acts or things, and the fact that Lender shall have
<br />performed one or more of the foregoing acts or things shall not require Lender to do any other specific act or thing.
<br />
|