|
<br /> 10 is
<br /> ~ ,...,~
<br /> n Z n:c ~
<br /> c::>
<br />N 1: ~ 0 ~ ~~ c.:o
<br />CSl 1Tl f{) 3
<br />G () (I)
<br /><.0 ~ :J: =
<br />G =
<br />...... .......
<br />Q) ~
<br />N -r'l
<br />G It) 0 r
<br /> fTl -0
<br /> D fTl ::::3
<br /> .' 0
<br /> (J'I
<br /> N
<br /> , '
<br /> .'\/ c..n
<br /> ,.il- CQ
<br />
<br />WHEN RECORDED MAil TO:
<br />Equitable Bank
<br />Diers Avenue Branch
<br />PO Box 160
<br />Grand Island, NE 68802-0160
<br />
<br />ASSIGNMENT OF RENTS
<br />
<br /> m
<br />C') (I) 0 :z
<br />0-; iff
<br />c:l> N
<br />z-i :0
<br />.....fTl C> m
<br />-<0 a
<br />0-" C> 6;
<br />.." Z
<br /> CD Z
<br />:r fTl
<br />l> OJ ~ 0 it
<br />r- ::0 'A
<br />r- )>
<br /> {j') 0:> i
<br /> ;:><::
<br /> l> ~ i
<br />--
<br />en C
<br /><n B
<br /> :J.7. j-tJ
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />THIS ASSIGNMENT OF RENTS dated March 6, 2009, is made and executed between Raymond J. O'Connor
<br />and Jennifer S. O'Connor, Husband and Wife (referred to below as "Grantor") and Equitable Bank, whose
<br />address is PO Box 160, Grand Island, NE 68802-0160 (referred to below 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 />Unit 2106. Unit 2118. Unit 2120. Unit 2130 and Unit 2136, Starwood Centre Condominium Property
<br />Regime in the City of Grand Island, Hall County, Nebraska
<br />
<br />The Property or its address is commonly known as 2106,2118.2120,2130. and 2136 N Webb Road. Grand
<br />Island. NE 68803. The Property tax identification number is 400292904. 400495332, 400495333,
<br />400495335, and 400495337.
<br />
<br />CROSS-COllATERALlZATION. In addition to the Note, this Assignment secures all obligations, debts and liabilities, plus interest thereon,
<br />--'Of Grantor t() lender; Orllnyom:ror-m-ore"'Of-them, as well as all claims by Lender against Grantor or anyone or more of them, whetller
<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_ Spocifically, 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 Granlor'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 manllge the Property IInd 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 mflY enter upon and tnke possession of tho 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 IInd 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 IlIws 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 />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. lendl'!r may do all such other things and acts with respect to the Property as lender may deem appropriate and may IIct
<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 />, .
<br />
<br />.' l ~
<br />, .
<br />
|