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<br />ASSIGNMENT OF RENTS 83... f~U{)~~.
<br />KNOW ALL MEN BY THESE PRESENTS: - That I the undersigned,
<br />of the County of xall ,State of Nebraska , for and in consideration
<br />Of E"our xundred Twenty Thousand and No/100-------$420,000.00--------- Dollars,
<br />as a loan in hand paid to Gene Kay Enterprises, Inc. by the.
<br />Commercial National Bank & Trust Company of Grand Island, Nebraska, a
<br />corporation, and other good and valuable consideration, the receipt
<br />whereof is hereby acknowledged, do hereby assign, transfer and set
<br />over to said Commercial National Bank & Trust Company, as collateral
<br />securitg for the duration of the loan, all the rents, income and pro-
<br />fits-accruing upon the following described property, situated in the
<br />County of Hall, State of Nebraska, to-wit:
<br />Lots One (1) and Two (2), in Woodridge South Subdivision, a replating
<br />of Part of Lot One (1), American Legion Addition to the City of Grand Island,
<br />xall County, Nebraska
<br />And hereby authorize and empower the Commercial National Bank
<br />& Trust Company of Grand Island, Nebraska, its authorized agents and
<br />attorneys, to act for me ,and rent the above described premises, and
<br />in my place collect and receipt for said rent, at such prices and upon
<br />such terms as they may see fit.
<br />This assignment of rent being made for the express purpose of
<br />having said revenue applied to the repayment of the above mentioned
<br />loan.
<br />Said Commercial National Bank & Trust Company map, in its dis-
<br />cretion, use the rents so far as they may deem necessary, for the pur-
<br />pose of making such repairs upon the premises as, in its judgment, may
<br />be proper and may use said rents so far as necessary for the payment
<br />of insurance premiums and taxes upon said premises. It shall also have
<br />authority to deduct from said rents a fair compensation, to be payable
<br />to said Commercial National Bank & Trust Company agents, far services
<br />rendered in the collection of said rents, the balance to be applied
<br />upaa the payment of monthly dues, interest and fines upon said loan.
<br />Dated at Grand Island. Nebraska
<br />Witness:
<br />-State of Nebraska,) ss.
<br />Hall County. )
<br />this ath day of January 19x3
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<br />Gene Kay Enterprises, Inc..
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<br />(?s this4thday of January , 19 8~ before me, the undersigned,
<br />>a 3~atar}* Public, in and for said County, Personally came Larry G. soesen,
<br />Pi~e~~ent of Gene Kay Enterprises Inc.
<br />`,ice personally known to me to be the identical person whose name
<br />affined to the above instrument as grantor and acknowledged the
<br />sa+se to be voluntary act and deed.
<br />Wit~esa my hand and Notarial Seal the date aforesaid.
<br />caa+misson expi r......~
<br />~41mlIkMl4~ ~ .. --
<br />otary Pu lic
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