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86102659
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Last modified
10/18/2011 10:56:26 AM
Creation date
3/31/2008 2:28:34 PM
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DEEDS
Inst Number
86102659
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$6- 102659 <br />ASSIGNMENT <br />KNOW ALL MEN BY THESE PRESENTS, that in consideration of <br />entering into a Modification and Extension Agreement in respect <br />to a Deed of Trust dated June 1, 1984, with a remaining principal <br />sum due or Sixty -Five Thousand Eight Hundred Twenty -Four and <br />72/100 Dollars ( ;65,824.72), the terms of which are incorporated <br />herein by this reference, the undersigned, MARK H. STINES and <br />CAROL N. STINES, husband and wife, "Assignors ", hereby assign, <br />transfer and set over to THE OVERLAND NATIONAL BANK OF GRAND <br />ISLAND, a national banking corporation, "Assignee ", all of their <br />right, title and interest in and to a certain Lease Agreement and <br />Personal Guarantee, as well as any causes of action the under - <br />signed may have in respect thereto by reason of default in the <br />performance of such Lease Agreement and Personal Guarantee, in <br />respect to that real estate commonly known as 1043 South Locust <br />Street, Grand Island, Nebraska, and legally described as: <br />The South Fifty and One -Half Feet (S 50.5') <br />of the West Half (W}) of Lot Five (5) of <br />Vantines Subdivision, located on part of the <br />Northwest Quarter (NW}) of Section Twenty -Two <br />(22) , in Township Eleven (11) North, Range <br />Nine (9) West of the Sixth (6th) Principal <br />Meridian in Hall County, Nebraska, excepting <br />therefrom a certain tract of ground more <br />particularly described in Warranty Deed <br />recorded in Book 164, Page 19, of the Deed <br />Records of Hall County, Nebraska; <br />bearing the date of February 28, 1986, whereby Assignors are <br />leasing such real estate to The Prudential Insurance Company of <br />America, hereby intending to assign all of the undersigneds' <br />rights to receive payments of rent as remain owing to them <br />pursuant to the terms of that Lease Agreement. <br />This Assignment is given as security for the indebtedness <br />mentioned hereinabove and as security for such other sums as may <br />be advanced in accordance with the terms of the aforementioned <br />Deed of Trust Note, as extended and modified, and this Assignment. <br />In the event such indebtedness, future advances, interest and <br />such other sums as may be advanced in accordance with the terms <br />of the aforementioned Deed of Trust Note, as extended, and this <br />Assignment are well and truly paid in accordance with the terms <br />therein contained, then this Assignment shall be void, otherwise <br />to remain in full force and effect. <br />At any time after default of Assignors has been declared by <br />Assignee, Assignee may cause notice to be served upon the named <br />Lessee in the aforedescribed Lease Agreement, directing that all <br />future payments to be made by such Lessee be made directly to <br />Assignee, and such payments thereafter received by Assignee shall <br />-1- <br />L L J <br />
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