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84004894
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1984
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84004894
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Last modified
11/20/2008 8:34:10 PM
Creation date
11/20/2008 8:34:09 PM
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DEEDS
Inst Number
84004894
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<br />84..... 004894, <br /> <br />The undersigned Assignors shall continue to make all pay- <br />ments to be made according to the terms of the land contract which is <br />herein assigned as security as they become due according to the terms <br />of sa.id land cont.ract ~ Should, at any time, Assignee advance. any pay-- <br />ments in respect to amounts owing on said land contract in order to <br />protect its security interest therein, be such advances for the paYlilent <br />of principal. interest or taxes, this Assignment shall operate as security <br />for the repayment to Assignee of all sums so paid with interest from <br />the date of such payment equivalent to that provided in the aforementioned <br />promissory note. It is expressly understood that nothing herein contained <br />shall be construed as a covenant or agreement on the part of the Assignee <br />to assume or pay any part of purchase price in respect to the real estate <br />described l.n the .land contraet or to pay any taxes or encumbrances there.. <br /> <br />on. <br /> <br />In the .event of default by the Assignors in respect to their <br />obligations owinQ to Assignee,. Ass:i.gnor hereby <1uthoriz~s the sellers of <br />the. real t;"state described in the: aforement.i.::).,.ad ~c...:.:1<.::l c.(''''\tt~.?'._t: to execute <br />and mak.e de ll"very (j~ a deed to Assignee" upon notice of such default <br />being !:~.i.veE to the se.llecs therein. <br /> <br />The undershuled Ass.tgnors hereby assign to Assignee all rents and <br />lncorne .:.trjsin~~ at :in': <'1.no ,111 times rrom the real estate. interest herein <br />a.ssigned ;is ~lddittonal ;:,ecurity for the indebtedness he-rein mentioned and <br /> <br />~l~~cby aut}10rizc tlte Assignee -lr its agent, at its option~ upon default, <br /> <br /> <br />.-.-, enter intu : :1(:' :::cs::--:ession o.r :-::nd Lakl-'> charge ()f said n.ssigned property ~ <br /> <br /> <br />to COo! l.:ct ;jnd f"I:.'c{dpt :-or .:l1_l n::.nU3 .'1Iui income therefrom, and apply the <br /> <br />:-;ar:le L~1 the. p<:l"'rUe!:1t of inter..". <br /> <br />pr 1,:1':': i,pa_l, insurance premilL.'ns t taxes t <br /> <br />,-Lssessment1,;, :'cpairs '-It" i::lpF__r/E:'EiCnts net:essary t.o keep said property <br /> <br /> <br />ion teHab'ie conditi,)nt ur L[) ()tht-:r i..~b1r~es Dr payments provided for herein <br /> <br />'_~,r ';':-1 the notr" hereby se:...~un::d. <br /> <br />! t ~.s the Lntention :m.d agn:-:ement of the :\ssig:nors that this <br />..\S5 i~~nClent :-;ha 1 _; ,~i ~;C' ;-:ec U re :In.y f ut aTC_ ~-ldv2nces made to Assignors by <br />.\ssignee, and ,-l11Y lnc ,Ill indebtedf1t.:'-sG in ~lddition to the amount stated <br /> <br />,lbove -,;hid: '-<doli "',;jsi.t:_nor~-;:, lr :l:1V !:'t r.hcr:1.,w,ay Ci\i"e to said Assignee, how- <br /> <br />~:\/f'r t:'vl,denci.:-,l_ <,..'her!1e-r ~>V :lOt2. book ,~lccount or ,}then~fise. The undersigned <br /> <br />,-i1..sD di2;r0e chat rhi.s :\ssigmnc-nr '''.;)1311 ~;ecure i!.J.l '::osts, charges and expenses <br /> <br />L <br /> <br /> <br />u <br /> <br />-1 <br />
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