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<br />/~~~ ASSIGNMENT
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<br />riarch ~ i9$4
<br />Whereas, on December 23, 19$5, GEORGE E. CLAYTON and
<br />DOROTHY J. CLAYTON contracted with TOWN & COUNTRY REALTY OF
<br />GRAND ISLAND,ING., for the purchase of Lot One, Block One (1),
<br />Nelsen 5eeond Subdivision to the Gity of Grand Island, Hall
<br />County, Nebraska, and
<br />Whereas, Town and Country Realty of Grand Island, Inc., has
<br />assigned all of its right, title and interest in said contract
<br />to LOREN E. GROVE and RUTH ANN GROVE, which assignment has been
<br />approved by N.r. and T;rs. Clayton, and
<br />Whereas, Loren E. Grore and Ruth Ann Grone (Assignors) wish
<br />to assign said contract to COMMERCIAL NATIONAL BANK AND TRUST COMPANY
<br />(Assignee) as collateral for present and future obligations and
<br />advances made by Assignee to Assignors,
<br />~dow, therefore, in consideration of the advance or advances
<br />now made ar to 6e made to Assignors, Assignors hereby assign and
<br />convey to Assignee all of their right, title and interest in and
<br />to an "Agreement for Sale of Real of Real Estate" dated December 23,
<br />1975, conveyi.rg to Assignors the real estate described as:
<br />.. ~.
<br />Subdivision, Grand Island, HallVCounty, '3ebraska,
<br />provided: 1) `I"hat Assignors are to fully perform all of
<br />their obligations under said cantract during "he tarm~ of this
<br />assignment, including, but not limited to, making when due,
<br />all payments re wired thereunder, Assignee does not accept
<br />any liabilit~perform under said contract.
<br />2) This assi~ ent is given to secure a promissory note ,a~^
<br />P P .,_ :.
<br />dated March 1 19$4, in the rinei a1 sum of $ ~,~~~`~ ,
<br />including anu renewals, extensions and modifications t ereo anti
<br />any and all future advances, with interest that Assignee may make,
<br />at its option, to Assignors.
<br />3) Provided further, that in the event Chat Assignee should
<br />fail to make any payments when due an said cantract, or strould
<br />fail to comply with any covenant therein, ar shculd fail tc pay
<br />when due any amounts due to Assignee under the note referred to
<br />abave, or upon any other advance made by Assignee to Assignors, then
<br />in any such event Assignee may:
<br />a. Declare the assignment absolute, without further notice
<br />and direct the escrow agent to immediately file the quitclaim
<br />deed attached hereto, at which. time Assignor shall have no further
<br />interest in said real estate.
<br />b. Immediately correct any deficiency to the legal owner of
<br />the real estate.
<br />c. ~°lay take such action in law or equity as is available
<br />to it to enforce its rights hereunder, including strict foreclosure.
<br />4) iiathing herein shall be construed to prohibit ar require
<br />the Assignee to take any particular action or elect any remedy
<br />available to it.
<br />5} This assignment shall be binding upon and inure to the
<br />k~enefit of the respective heirs, assigns, successors and legal
<br />representatives of the parties hereto. ,~ r-~'`
<br />ASSIGNCIRS~=-~- ~.` "~~'...,..~r~'" ~ ".~ :ter Y__.
<br />aren one.
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