HomeMy WebLinkAbout902918 RECEIVED
SECURITY AGREEMEN~}L,~4 COUNTY
ASSIGNMENT OF LEASE~(S),.Fr, 17 ,~
CLERK
FOR AND IN CONSIDERATION of the sum of One Dollar ($1.00) and other valuable
consideration, receipt of which is hereby acknowledged, PAUL D. HILL , hereinafter called
"Assignor", hereby sells, assigns, transferS and sets over unto EVERGREEN FEDERAL SAVINGS
AND LOAN ASSOCIATION, a corporation, hereinafter called "Assignee", any and all leases now
existing Or hereinafter entered into and any extensions or renewals thereof, of those certain premises
known as U.S. POST OFFICE in the City of THAYNE , County of LINCOLN State of
WYOMING which leased premises are more particularly described in Exhibit "A".
Assignor hereby further assigns, transfers and sets over unto Assignee all of the rents now
due and to become due under the terms of said lease(s) and any extensions or renewals thereof,
together with the amounts required thereunder to pa~, taxes and insurance. Assignor agrees that it
will not, without securing the prior written consent of Assignee, consent to the assignment or transfer
of said lease(s) of the above described premises. Assignor further warrants that it has not previously
assigned said lease(s) or pledged or hypothecated any of the rents or amounts to become due
thereunder or any intei'est therein, except to the Assignee.
Assignor has borrowed from Assignee the sum of THREE HUNDRED FIFTY
THOUSAND AND NO/100 DOLLARS ($350,000.00) and hg,s executed and delivered to Assignee
its prOmissory Note, Mortgage and Loan' Agreement dated ~d~-~
on real property, including the above described premises, to secure the payment of said Note. This
is an absolute assignment conditional upon default. As such, Assignee's rights under it are now
vested and perfected against all third parties and trustees in ban 'kruptcy. Until such time as there is
a default in any of the terms or provisions of the said Promissory Note, Mortgage or Loan
Agreement, Assignor shall have the right to continue to collect and receive all rental and all
payments as the same become due under the said lease.
On the condition there is a default in any of the terms and provisions of the said Promissory
Note, Mortgage or Loan Agreement, Assignee shall have the immediate and automatic right to
collect the rental and other payments from that time on and to compel the application of all future
rents and other payments accruing on said lease t° the liquidation of the amounts then remaining due
Assignee on said Promissory Note and Mortgage. If Lessee or a third party obligated under a
Contract fails to pay any sums due, after receipt of written demand therefore by Assignee, together
with proof of the Assignment if requested, Assignee may take whatever legal or equitable action is
appropriate, including, without limitation, requesting the issuance of a temporary restraining order
directing such Lessee or obligor not to pay the rent to Assignor until further order of the court.
To ensure performance of this Assignment, the Assignor has signed and delivered to the
Assignee a Power of Attorney to Receive Rent for Post Office Quarters, attached as Exhibit "B".
It is hereby agreed that said Power of Attorney shall not be invoked unless and until such time as
there is a default in any of the terms or provisions of the aforementioned Promissory Note, Mortgage
or Loan Agreement.
Page 1 of 2
,. 0545
1N WITNESS WHEREO~', Ass. ignor has caused this Assignment of Lease to be signed on this
/~ ~ ~_~~. ~,~~. , 20 o~.
STATE OF
COUNTY OF
Before me, ffT.~~. . , . , a Notary Public for said
County and State, personally appeared PAUL D. HILL , with whom I am personally acquainted (or
proved to me on the basis of satisfactory evidence), and who executed the within instrument. The above
named further acknowledged the foregoing instrument to be HIS individual, voluntary and personal
act and deed.
Before me:
Page 2 of 2
,0546
Exhibit .UA"
That part of the NER 'of Section 23~ T34N R119W,' it being the intent to
more correctly describe that tract, of record in the Office of the Clerk
of Lincoln County in Book 426PR on page 90, as follows:
Beginning at a spike on the west line of sa.id NE~, S 00"03'18" W,
1069.77 feet from the northwest corner of said NEW;
thence S 00"03'18,, W, 167.36 feet, along said 'west line, to a
spike;
thence S 89"47'38. E, 183.22 feet~ alons an existing fence line, in
part, to a pipe at a fence corner;
thence $ 00"21'22" W, 64.53 feet, along an existing fence line, to
a point at an existing fence corner;
thence S 89"26'47" E, 101.82 feet, along an existing fence line, to
a point at a fence corner;
thence N 00"12'51" E, 231.58 feet~ along an existing fence line, to
a point;
thence N 89"36'28" W, 288.34 feet to the Spike of Beginning.
~;... :/ Exhibit "B"
O547
0~)~ POWER OF ATTORNEY TO RECEIVE RENT FOR POST OFFICE QUARTERS
WHEREAS the right to receive rent for cedain premises occupied by the United States Postal Service in
Thayne , County of Lincoln , State of Wyoming
(City or town)
is vested in the undersigned and
WHEREAS it is desired to appoint an attorney in fact to receive rents for premises so occupied and to give receipts therefor on
behalf of the undersigned.
NOW, THEREFORE, KNOW ALL MEN BY THESE PRESENTS THAT Paul D Hill
(Names of lessor(s))
ha S Made, constituted, and appointed, and by these presents make(s), constitutes(s), and appoint(s) EVERGREEN FEDERAL
whose address is 969 SE SIXTH STREET , GRANTS PASS , OREGON 97526
(Number) (Street) (City or town) (State) (Zip Code)
MY , true and lawful attorney for ME , and in MY Name and stead to ask, demand, collect, and
(My-Our-Its) (Me-Us-It) (My-Our-Its)
receive all rents due for the period beginning on the first day of the month thereafter following the date of execution of this instrument
and receipt by the Postal Service and for rents which thereafter may be due and owing ME From the United States Postal
(Me-Us-It)
Service as tenant or occupier of premises located at 390 North Main Street , . Thayne
(Number) (StreeO (City of town)
Wyoming 83127 , And upon recei pt thereof to give proper receipts,
(State) (Zip Code)
acquittances, or discharges, hereby ratifying and confirming all that said...¢ttorrfe~ shall-i~-v~8~o.,..by?irtue of this instrument.
IN TESTIMONY WHEREOF I have hereunto set MC Hand(s)and seal'~s3/thi;// 1¢ dayof
~ ...._L. \_^/ (I-We) ---~! (My-O~)--~/-~ ~._--.~/~/'j~/''
· (Mo. th) / .../
Signed, sealed, and delivered in the presence of .~' ~'~ ...... " [SEAL]
~ ¢ ,,, ! Paul D Hill "'~/~,
'/--~O~--,---,'--. %~'"~\ , ~ [SEAL]
~ (T~ witnoss~3-~e required)
After carefully filling each space, acknowledge execution of this document before a notary public or other official having authority to
administer oaths.
STATE OF ('-.~_.~'~ )
) SS:
Personally appeared before me, a Notary Public in and for the county and state aforesaid.
, known to me to be the same person(s) who executed the foregoing power
of attorney, and who acknowledged that HE Signed, sealed, and delivered the same as HIS
· (He-She- They) (His-Her- Their)
f'~e and voluntary act for the purposes therein mentioned.
,/
// Witness my hand and notarial seal, in the county and state aforesaid, this //~ ~
· day of
'
attorney is a corporati(~n, power of attorney sou e/~]ne in the name of the corporati~n'by~ du/Jy authorized