|
m
<br /> � � N p� �
<br /> � mm o �y m
<br /> 1 � n�� � Zm N m
<br /> o �o� , 0 �O 0 0
<br /> N ZD� � �Z O (�
<br /> v � G7�0 � 2W � Z
<br /> ,i�m � D� � �
<br /> m�o � D rcn � �
<br /> � ��� � � � �
<br /> m
<br /> 00 0 � z
<br /> o cn �
<br /> � z
<br /> 0
<br /> WHEN RECORDED MAIL TO:
<br /> Equitable Bank �
<br /> Diers Avenue Brench
<br /> PO Box 160
<br /> Grand Island,NE 688�2-0160 FOR RECOR.DER'S USE ONLY
<br /> ASSIGNMENT OF RENTS
<br /> THIS ASSIGNMENT mF RENTS dated December 95, 2011, is made and executed between
<br /> GRAND ISLAND AREA ECONOMIC DEVELOPMENT CORPORATION, whose address is 308 N
<br /> LOCUST ST,STE.400,Gf�AND ISLAND, NE 68802;A NEBRASKA CORPORATION (referred to
<br /> below as "Grantor") and Equitable Bank, whose address is PO Box 760, Grand island, NE
<br /> 68802-0160 (referred to below as"Lender").
<br /> ASSIGNMENT. For valuable consideration, Grantor hereby assigns,c�rants a continuing security
<br /> interest in, and conveys to Lender all of Grantor's right, title, and interest in and to the Rents
<br /> frorn the following described Property located in HALL County,State of Nebraska:
<br /> See EXH9BIT "A",which is attached to this Assignment and made a part of this Assignment
<br /> as if fully set forth herein.
<br /> The Property or its address is commonly known as RURAL ROUTE, GRAND ISLAND, NE
<br /> 68803. The Property tax identification number is
<br /> 40049551,400198223,400495547,400200657,400495553,400198215,400209144,400209
<br /> 160,4002a9152,400209209,400209225,.
<br /> THIS ASSIGNMENT IS GIVEN TO SECURE (11 PAYMENT OF THE INDEBTEDNESS AND (2)PERFORMANCE OF ANY
<br /> AND ALL OBLIGATIONS OF GRANTOFi UNDER THE NOTE,THIS ASSIGNMENT,AND THE RELATED DOCUMENTS.
<br /> THIS ASSIGNMENT IS GIV�N AND ACCEPTED ON TNE FOLLOWING TERMS:
<br /> . PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Docume�ts,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 ihe Rents,provided that the granting of the right to collect the Rents shall
<br /> not constitute Lender`s consent to the use of cash collateralin 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
<br /> claims except as disclosed to and accepted hy Lentler in writing.
<br /> Right to Assign. Grantor has the fuU right,.power and authority to enter inm this Assignment and to assign and
<br /> conveythe Rentsto Lender.
<br /> No Prior Assignment. Grantor has not previously assigned or conveyed Yhe Rents to any other person 6y any
<br /> instrument now in force. .
<br /> No Further Trensfer. Grantor will not sell,assign,encumber,or otherwise dispose of any of Granior's rights in the
<br /> Rents except as provided in this Assignment.
<br /> LENDER'S RIGHT TO RECEIVE AN�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 receive the Rents. For this purpose;Lender is hereby
<br /> given and granted the following rights,powers antl authority: �
<br /> Notice to Tenants. Lender may send notices to any and aIl 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 PropOrty. Lender may enter upon and take possession of the Property;demand,collect and receive from
<br /> the tenants or from any other persons liable therefor,all of ihe Rents;institute and carry on all legal proceedings
<br /> necessary for the proteciion� 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 /> . Maintain the Property. Lender may enter upon the Property to maintain the Property and keep the same in repair;
<br /> to pay the costs thereof and of all services of all employees,including their equipment,and of all continuing costs
<br /> and expenses of maintaining the Property in proper repair and condition,and also to pay all taxes,assessments and
<br /> water utilities,and the premiums on fire and other 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
<br /> Nebraska and also all other laws, rules, orders, o�dinances and requirements of all other govemmental agencies
<br /> 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
<br /> such conditions as Lender may deem appropriate..
<br />
|