|
<br /> 1........)- m
<br /> ~ n t ~J' ("") (jl 0 !:i
<br /> m ~ C~ 0 -<
<br /> oc ~
<br /> -n ':::=1;(. c 1'"," N
<br /> C n % = z ~
<br /> Z " I!l
<br />n '" -xl ~ '- ':-? ~ rrl CJ
<br />n C i-n'r- --I --<
<br />X "'""'. 0 c:> fn
<br />m > ~ C':l",{ - 0 "
<br />n c.n o' --J -r"1 CO Z
<br />:I: --., .......
<br />"" tL ::c ,11
<br /> , 0 ~.' "P- Cl) C> en
<br /> ~ rn tl -0 r :;;u -I
<br /> 111 :3 co :0
<br /> a CJ ~ r- p.- C
<br /> r.fl UJ U1 :s:
<br /> I--' ;><; m
<br /> (' l> U1 ~
<br /> (..) -.........
<br /> Q') c.n 0) Z
<br /> ':"":
<br /> -.~..r" cfi .0
<br /> ,
<br />
<br />I\J
<br />S
<br />S
<br />co
<br />s
<br />co
<br />(]I
<br />(]I
<br />(J)
<br />
<br />~ Em) l(~tV~J; /ltt.sl:l)
<br />WHER--RECORDED MAli! TO:
<br />Equitable Bank
<br />North Locust Branch
<br />113-115 N Locust St
<br />PO Box 160
<br />Grand Island. NE 68802-0160
<br />
<br />200808556
<br />
<br />)"Sb
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />ASSIGNMENT OF RENTS
<br />
<br />THIS ASSIGNMENT OF RENTS dated October 3, 2008, is made and executed between Eloy R. Uribe aka Eloy
<br />Uribe and Oralia D. Erives aka Oralia Erives: Husband & Wife (referred to below as "Grantor") and Equitable
<br />Bank, whose address is 113-115 N locust St, PO Box 160, Grand Island. NE 68802-0160 (referred to below
<br />as "lender").
<br />
<br />ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security interest in, and
<br />conveys to lender all of Grantor's right, title, and interest in and to the Rents from the following described
<br />Property located in Hall County, State of Nebraska:
<br />
<br />See Exhibit A, which is attached to this Assignment and made a part of this Assignment as if fully set forth
<br />herein.
<br />
<br />The Property or its address is commonly known as 1415 West 1st Street, 1417 West 1st Street, 1812 W.
<br />18th Street, and 404 W. 10th Street, Grand Island, NE 68801. The Property tax identification number is
<br />400072653,400072661,400115034,400121115.
<br />
<br />REVOLVING LINE OF CREDIT. This Assignment secures the Indebtedness including. without limitation. a revolving line of credit. which
<br />obligates Lender to make advences to Borrower so long liS Borrower complies with 1111 the terms of the Note.
<br />T-HtS---ASSIGNME-Nl-IS G-l-VEN. TO--SECURE-- . -'-1 I-PAYMENT OF ..THE JNDEBtEONES.5.ANo 12.Le~FlfQBMANCE .. OF_AJIIYAND ALL
<br />OBLIGATIONS OF BORROWER AND GRANTOR UNDER THE NOTE. THIS ASSIGNMENT. AND THE RELATED DOCUMENTS. THIS.
<br />ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />
<br />GRANTOR'S WAIVERS. Grantor waives all rights or defenses arising by reason of any "one action" or "anti-deficiency" law. or any other
<br />law which may prevent Lender from bringing any action against Grantor, including a claim for deficiency to the extent Lender is otherwise
<br />entitled to a claim for deficiency, before or after Lender's commencement or completion of any foreclosure action. either judicially or by
<br />exercise of a power of sale.
<br />
<br />BORROWER'S WAIVERS AND RESPONSIBILITIES. Lender need not tell Borrower about any action or inaction Lender takes in connection
<br />with this Assignment. Borrower assumes the responsibility for being and keeping informed about the Property. Borrower waives any
<br />defenses that may arise because of any action or inaction of Lender, including without limitation any failure of Lender to realize upon the
<br />Property. or any delay by Lender in realizing upon the Property. Borrower agrees to remain liable under the Note with Lender no matter
<br />what action Lender takes or fails to take under this Assignment.
<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 />Lease 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 />, ~ '
<br />,i
<br />
<br />. .
<br />
|