|
��
<br />��
<br />���
<br />� �
<br />� ��
<br />0 ��
<br />N ��
<br />� =
<br />��
<br />��
<br />��
<br />��
<br />��
<br />��
<br />�
<br />�'
<br />= v
<br />^�N
<br />� _
<br />S� A
<br />�
<br />C
<br />s
<br />D �
<br />� �: .:
<br />G �> ,.
<br />�
<br />r,
<br />�
<br />f, �'> .
<br />_,
<br />rn
<br />�,
<br />o �•' ;
<br />O f;
<br />rsy �
<br />m
<br />0
<br />vy
<br />�
<br />�
<br />�
<br />�--•
<br />�
<br />�
<br />�
<br />F--.+
<br />0
<br />O
<br />�
<br />o --i
<br />C A
<br />��
<br />� rn
<br />� d
<br />o �
<br />� �
<br />z m
<br />n W
<br />r �
<br />r m
<br />�
<br />�
<br />D
<br />C/�
<br />�
<br />O
<br />fV
<br />O
<br />►—�
<br />F—+
<br />0
<br />N
<br />t70
<br />Cl'7
<br />-�l
<br />1� rn/ L-n✓
<br />WHEN RECORDED MAIL TO:
<br />Equitable Bank
<br />North Locust Branch
<br />113-715 N Locust St
<br />PO Box 160
<br />Grand Island NE 68802-0760 FOR RECORDER'S USE ONLY
<br />ASSIGNMENT OF RENTS
<br />THIS ASSIGNMENT OF RENTS dated April 12, 2011, is made and executed between J& B RENTALS, L.L.C..
<br />whose address is 318 N Madison St., GRAND ISLAND, NE 68802; A Nebraska Limited Liability Company
<br />lreferred to below as "Grantor") and Equitable Bank, whose address is 113-115 N Locust St, PO Box 160,
<br />Grand Island, NE 68802-0160 (referred to below as "I.ender"1.
<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 />Fractional Lot Five (5), in Fractional Block Ten (10) of Arnold and Abbott's Addition and its complement,
<br />to-wit; Gractional Lot Five (5) in Fractional Block Nineteen (19) in Rollin's Addition, both additions to the
<br />City of Grand Island, Hall County, Nebraska.
<br />The Property or its address is commonly known as 922 W North Front St., GRAND ISLAND, NE 68801. The
<br />Property tax identification number is 400085631.
<br />CROSS-COLLATERALIZATION. In addition to the Note, this Assignment secures all obligations, debts and liabilities, plus interest thereon,
<br />of Grantor to Lender, or any one or more of them, as well as all claims by Lender against Grantor or any one or more of them, whether
<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 />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. Specifically, 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 />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 />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor shall pay to Lender
<br />alf amounts secured by this Assignment as they become due, and shall strictly perform all of Grantor's obligations under this Assignment.
<br />Un�ess 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 manage the Property and 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 />GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that:
<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 />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 />No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any instrument now in force.
<br />No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Gr,antor's rights in the Rents except as
<br />provided in this Assignment.
<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 />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 />Enter the Property. Lender may enter upon and take possession ot the Property; demand, collect and receive from the tenants or from
<br />any other persons liable therefor, all of the Rents; institute and carry on 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 />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 a�� 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 and other
<br />insurance effected by Lender on the Property.
<br />Compliance with Laws. Lender may do any and all things to execute and comply with the laws 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 />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 />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 />v
<br />f�
<br />�
<br />�j�v
<br />
|