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ASSI{MII+T OF 1EASE,S, RENTS AMID PROMS
<br />WIS ASSIGNMENT, made this 27th day of march 1986,
<br />by CHARIES D. F1 wmmi AND joycE r.—rWMai, e, rein
<br />called "Assignors ") , to r MST FEDERAL SA'VING'S AND LOAN ASSOCIATION OF
<br />LINOOLN, having its principal place of business in Lincoln, Nebraska
<br />(herein called "First Federal "):
<br />WITNESSEW: For value received and as additional security for the
<br />lean hereinafter mentioned, 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:
<br />Lot Eight (8), in Block Fair (4), in John Voitle's Addition to the
<br />City of Grand Island, Hall County, Nebraska.
<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 nuw 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 become 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 become due to said First Federal, its successors or assigns, upon
<br />demand for payment thereof by First Federal, its successors or assigns. It
<br />is understood and agreed, however, that no such demand small be made unless
<br />and until there has been a default in the payment of the indebtedness
<br />secured by the Deed of Trust, or default in the payment of any other sums
<br />secured by said Deed of Trust, and, until such demand is made, Assignors
<br />are authorized to collect, or continue collecting said rents, issues,
<br />profits, rights and benefits; but that such privilege to collect or
<br />continue collecting, as aforesaid by Assignors shall not operate to permit
<br />the collection of said Assignors, their successors or assigns, of any
<br />installment of rent in advance of the date prescribed in said lease or
<br />leases for the payment thereof. First Federal may 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 an such defaults and to pay 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 remaining to Assignors.
<br />The term of this Assignment shall be until the Note (or any extension
<br />or renewal thereof) of even date herewith, made, executed and delivered by
<br />CHARLES D. CANTRELL AND JOYCE E. CANIRELL, husband and wife, for the sum of
<br />;36,©00.00 and secured, by a Deed of Trust covering said premises shall have
<br />been fully paid and satisfied, or until the expiration of the period of
<br />redemption, ii airy, at which time this Asignment is to be fully satisfied,
<br />cancelled and released; and the releasing of said Deed of Trust shall
<br />constitute a release hereof.
<br />This Assignment is given as additional security for the performance of
<br />each and all of the obligations and covenants of the Note and Deed of Trust
<br />above- described (or any extension or renewal thereof.).
<br />It is expressly covenanted and agreed by the undersigned Assignors
<br />that at the time of the e>:ecution and delivery of this Assignment there has
<br />been no anticipation or prepayment of any rents by any of the tenants
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