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<br /> 4'i. 002632
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<br /> ASSI( .NT OF LEASES, RENTS AND PROFITS
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<br /> THIS ASSIGNMENT, made this 17th day of May 1984
<br /> by BISM INVESTORS V LIMITED PARTNERSHIP a Nebraska limited rtnersl
<br /> (herein tailed "Assignors"), to FIRST FEDERAL, SAVINGS AND LOAN ASSOCIATION
<br /> OF LINCOLN, having its principal place of business in Lincoln, Nebraska
<br /> (herein called °First Federal"):
<br /> WITNESSETH: For value received and as additional security for the
<br /> loan hereinafter maantioned, Assignors hereby sell, transfer and assign unto
<br /> First Federal, Its successors and assigns, all right, title and interest of
<br /> Assignors in and to the rents, issues, profits, rights and benefits from
<br /> the property described below:
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<br /> Lot Four (4), Block Nine (9), Continental Gardens, an Addition to the city
<br /> of Grand Island, Hall County, Nebraska together with all right, title and
<br /> interest In and to the non-exclusive easements recorded In the Register of
<br /> Deeds Office, Hall County, Nebraska as Declaration of Restrictive Covenants
<br /> filed July 3, 1977 as Document No. 77-000046, Cross Easement Agreement
<br /> between Mid-Continent Enterprises, Inc. and R-Lynn Realty, Inc. pertaining
<br /> to parking and driveway privileges for all owners of Lots in Block 9 filed
<br /> January 3, 1977 as Document No. 77-000047, Declaration of Restrictive
<br /> Covenants filed December 11, 1978 as Document No. 78-008105, and Cross
<br /> Easement. Agreement executed by Mid-Continent Enterprises, Inc. and
<br /> Americana Investment Group, Inc. filed May 14, 1981 as Document No.
<br /> 81-002490.
<br /> And to that end Assignors hereby assign and set over unto First
<br /> Federal, its successors or assigns, all leases or subleases of said
<br /> premises ncaw made, executed or delivered, whether written or verbal, or to
<br /> be hereafter made, be the same written or verbal.
<br /> And the Assignors do hereby authorize and empower First Federal, its
<br /> successors or assigns, without notice and without regard to the adequacy of
<br /> the security for the indebtedness secured hereby, to take possession of
<br /> said real estate and chattels, to rent and manage the same', and to sue. for
<br /> or otherwise collect the said rents, issues, profits, rights and benefits,
<br /> as they shall became due, and hereby direct each and all of the tenants of
<br /> the aforesaid premises to pay such rents as may now be due or shall.
<br /> hereafter b!ccme due to said First Federal, Its successors or assigns, upon
<br /> demand for paayment thereof by First Federal, its successors or assigns. It
<br /> Is understood and agreed, hover, that no such demand shall be made unless
<br /> and until there has been a default in the payment of the Indebtedness
<br /> secured by the Deed of Trust and Financing Statement herein mentioned, or
<br /> default in the payment of any other sums secured by sold Deed of Trust or
<br /> Financing Statement, t+nd, until such demand is made As,slgnors are
<br /> authorized to collect, or continue collecting said rants, issues, profits,
<br /> rights and benefits; but that such privilege to collect or continue
<br /> collecting, as aforesaid by Assignors shall not operate to permit the
<br /> collection of said Assignors, their successors or assigns, of any
<br /> installr.ent of rent In advance of the date prescribed in said lease or
<br /> leases for the payment thereof. First Federal my retain or pay from such
<br /> rents, Issues, profits, rights and benefits collected by It reasonable fees
<br /> for management and rental services rendered by It or those employed by It,
<br /> all costs and expenses of collection, Including reasonable attorney's fees,
<br /> and may also use the same to make good any.such defaults and to pray taxes,
<br /> Insurance premiums, expenses of repair and maintenance and all other
<br /> expenses Involved in the proper management of said premises, and shall pAy
<br /> any surplus then remalning to Asalylnors.
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<br /> The term of this Assignment shall be until the Note (or my extension
<br /> or renewal thereof) of even date herewith, made, executed and delivered by
<br /> BISON! IVESTORS V LIMITED PARTNERSHIP a Nebraska limited rtnershl for
<br /> the sum of $170,000. 00 and secured by a peed of Trust covering said
<br /> premises and a Financing Statement covering certain fixtures and equipment
<br /> situated on said premises, shall have been fully paid and satisfied, or
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