|
1��
<br />��
<br />N �
<br />B =
<br />B
<br />� -
<br />~ ��
<br />-�P
<br />—
<br />� �
<br />��
<br />��
<br />.�
<br />�
<br />C
<br />�
<br />�
<br />C'
<br />�*7
<br />--�
<br />�
<br />!�
<br />�
<br />�
<br />�
<br />7A
<br />C
<br />0
<br />�
<br />�
<br />y
<br />�
<br />`:
<br />� �
<br />6�°1��
<br />� .�
<br />_ �
<br />� �
<br />�
<br />r.:i
<br />� �
<br />_,..^
<br />S `�
<br />D p
<br />r �
<br />r �. �
<br />O �. R _
<br />�
<br />� �
<br />N � �
<br />rn 3
<br />�
<br />� �� �
<br />O �
<br />YT1 t`�
<br />E+^! �
<br />0
<br />�
<br />C� Ln
<br />O —�
<br />C D
<br />z�
<br />—i
<br />� d
<br />O 'T7
<br />� Z
<br />= m
<br />A �
<br />r �
<br />r za
<br />�
<br />�
<br />A
<br />tt�
<br />�
<br />WHEN RECORDED MAIL TO:
<br />PINNACLE BANK
<br />AURORA MAIN OFFICE
<br />1234 L ST
<br />PO BOX 229
<br />AURORA, NE 68818 FOR RECORDER'S USE ONLY
<br />ASSIGNMENT OF REIVTS
<br />THIS ASSIGNMENT OF RENTS dated October 14, 2011, is made and executed between JBK
<br />APARTMENTS LLC, (referred to below es "Grantor") and PINNACLE BANK, whose address is
<br />1234 L ST, PO BOX 229, AURORA, NE 68818 (referred to below as "Lender").
<br />ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security
<br />interest in, and conveys to Lender all of Grantor's right, title, and interest in and to the Rents
<br />from the following described Properly located in HALL County, State of Nebraska:
<br />PARCEL A: THE EAST THIRTY (30) FEET OF LOT FIVE (5), AND ALL OF LOTS SIX (6),
<br />SEVEN (7) AND EIGHT (8), BLOCK FOURTEEN (14), LAMBERT'S ADDITION TO THE CITY
<br />OF GRAND ISLAND, HALL COUNTY, NEBRASKA. PARCEL B: THE WEST THIRTY-SIX
<br />(36) FEET OF LOT FIVE (5), BLOCK FOURTEEN (14), LAMBERT'S ADDITION AND THE
<br />EASTERLY FORTY 140) FEET OF THE SOUTHERLY ONE HUNDRED THIRTY-TWO (132)
<br />FEET OF VACATED SUPERIOR STREET BETWEEN 5TH AND 6TH STREET TO THE CITY OF
<br />GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />The Property or its address is commonly known as 1304 E 5TH STREET, GRAND ISLAND, NE
<br />68801.
<br />THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY
<br />AND ALL OBLIGATIONS OF GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED DOCUMENTS.
<br />THIS ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents, Grantor
<br />shall pay to Lender all amounts secured by this Assignment as they become due, and shall strictly perform all of
<br />Grantor's obligations under this Assignment. Unless and until Lender exercises its right to collect the Rents as provided
<br />below and so long as there is no default under this Assignment, Grantor may remain in possession and control of and
<br />operate and manage the Property and collect the Rents, provided that the granting of the right to collect the Rents shall
<br />not constitute Lender's consent to the use af cash collateral in a bankruptcy proceeding.
<br />LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no
<br />default shall have occurred under this Assignment, to collect and raceive the Rents. For this purpose, Lender is hereby
<br />given and granted the following rights, powers and authority:
<br />Notice to Tenarrts. Lender may send notices to any and all tenants of the Property advising them of this
<br />Assignment and directing all Rents to be paid directly to Lender or Lender's agent.
<br />Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and receive from
<br />the tenants or from any other persons lieble therefor, all of the Rents; institute and carry on all legal proceedings
<br />necessary for the protection of the Property, including such proceedings as may be necessary to recover
<br />possession of the Property; collect the Rents and remove any tenant or tenants or other persons from the Property.
<br />Other Acts. Lender may do all such other things and acts with respect to the Property as Lender may deem
<br />appropriete and may act exclusively and solely in the place and stead of Grantor and to have all of the powers of
<br />Grantor for the purposes stated above.
<br />APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with the Property shall be for
<br />Grantor's account and Lender may pay such costs and expenses from the Rents. Lender, in its sole discretion, shall
<br />determine the application of any and all Rents recaived by it; however, any such Rents received by Lender which are
<br />not applied to such costs end expenses shall be applied to the Indebtedness. All expenditures made by Lender under
<br />this Assignment and not reimbursed from the Rents shall become a part of the Indebtedness secured by this
<br />Assignment, and shall be payable on demand, with interest at the Note rate from date of expenditure until paid.
<br />FULL PERFORMANCE. If Grantor pays ell of the Indebtedness when due and otherwise performs all the obligations
<br />imposed upon Grantor under this Assignment, the Note, and the Related Documents, Lender shall execute and deliver to
<br />Grantor a suitable satisfaction of this Assignment end suitable statements of termination of any financing statement on
<br />file evidencing Lender's security interest in the Rents end the Property. Any termination fee required by law shall be
<br />paid by Grantor, if permitted by applicable law.
<br />LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in
<br />the Property or if Grantor fails to comply with any provision of this Assignment or any Related Documents, including but
<br />not limited to Grantor's failure ta discharge or pay when due any amounts Grantor is required to discharge or pay under
<br />Q '
<br />fV
<br />O
<br />I".'a
<br />t--�
<br />O
<br />-�7
<br />�
<br />CD
<br />s
<br />�.�� � d
<br />
|