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Home My WebLink About20075044S.A.S E. ' NUM PGS DOC TAX.___`_ CK~ FEES ~0 P ~•~ CK~R /0~~5 yb CHG ACCI'~ ~~ RETFEES:._.C H_R.O.D.CKik REC'C~ ~ ~ ~~F11~P. RETURN (II.S S~IiL n -i P ~a.~7 Y"i>„ut /1/ X51/7-gpbd' US {-recordings, Inc. 7925 Country Drive Ste 20 i 5t. Paul, MN 55117 Aiudmfliii~dd~i ADAMS COUNTY NE INST. N0. F~~ODO "1..5 0 4 4 Date 1 I -15-07 Time l - =d ~ Am TER OF DEEDS NUM Xl RD. COMP COMPARE ~ - CADAS ""' ~ A ~- 8'4 l to ZOS 1 ~ ~~ -~PZ `~ `{ COLLATERAL ASSIGNMENT OF REDEVELOPMENT CONTRACT South Central Apartment Partners, LLC, a Nebraska limited liability company ("SOUTH CENTRAL APARTMENTS") and South Central Behavioral Services, Inc. a Nebraska non-profit corporation ("SOUTH CENTRAL BEHAVIORAL") (jointly and severally herein called "ASSIGNORS"), for valuable consideration, receipt and sufficiency of which is hereby acknowledged, as security for the prompt payment of those promissory notes and other obligations described in that written Construction Loan Agreement dated as of December 29, 2004 by and between SOUTH CENTRAL APARTMENTS and-Wells Fargo Bank, National Association (which together with its amendments renewals, substitutions and extensions is herein called the "AGREEMENT"), the Term Promissory Note in the principal amount of $200,000.00 ("TIF NOTE") and the Term Promissory Note in the amount of $65,000.00 ("TERM NOTE") executed on or about June 1, 2006 by SOUTH CENTRAL APARTMENTS payable to Wells Fargo Bank, N.A., a national banking association with principal offices in Omaha, Nebraska ("ASSIGNEE") (the AGREEMENT, TIF NOTE and TERM NOTE are collectively referred to herein as the "LOAN" or "LOAN DOCUMENTS"), do hereby assign to ASSIGNEE all of ASSIGNORS' right, title and interest i_n and to the following: That Redevelopment Contract by and between the Community Redevelopment Authority of the City of Hastings, Nebraska ("AUTHORITY") and ASSIGNOR as Redevelopers ("REDEVELOPMENT CONTRACT") dated June 23, 2004 and recorded with the Register of Deeds of Adams County, Nebraska on December 3, 2004 as Instrument Number 20046034 (including all amendments, renewals, substitutions and extensions and ASSIGNORS' rights under all related agreements and provisions of redevelopment plans of the AUTHORITY, including without limitation all terms of the Redevelopment Plan V ("PLAN") and Modification NO. 14 to Redevelopment Plan V adopted by the #SCAP ASSIGNMENT DOCUMENTATION BY MGWL /o f s 200'75044 AUTHORITY) whereby ASSIGNORS agreed to redevelop real estate described as follows: PATHWAY PLAZA SUBDNISION, A REPEAT OF LOT 1 THROUGH LOT 18 OF HAMSHER'S SOUTH SIDE ADDITION REPEAT TO THE CITY OF HASTINGS, ADAMS COUNTY, NEBRASKA, AND ALL OF VACATED ELIZABETH LANE. It is the intention of the ASSIGNORS that ASSIGNEE hold a security interest in the REDEVELOPMENT CONTRACT and enjoy all of the rights and benefits of the lessor under the REDEVELOPMENT CONTRACT. As part of the consideration for the indebtedness evidenced by the LOAN DOCUMENTS, ASSIGNORS hereby absolutely and unconditionally assign and transfer to ASSIGNEE all amounts payable under the REDEVELOPMENT CONTRACT, including those now due, past due, or to become due. ASSIGNORS hereby authorize ASSIGNEE or ASSIGNEE'S agents to collect the aforesaid payments and hereby directs the AUTHORITY to pay such payments to ASSIGNEE or ASSIGNEE'S agents. ASSIGNORS will continue to be responsible to perform all of the obligations and duties of the ASSIGNORS as Redevelopers under the, terms of the REDEVELOPMENT CONTRACT. In the event of default of the LOAN DOCUMENTS or any other obligation of ASSIGNORS to ASSIGNEE, ASSIGNEE is entitled to take any action reasonably necessary to protect ASSIGNEE'S interest in the REDEVELOPMENT CONTRACT. ASSIGNORS hereby covenant that ASSIGNORS have not executed any prior assignment of said payments, that ASSIGNORS have not performed, and will not.perform, any acts or have not executed, any instrument which would prevent ASSIGNEE from exercising its rights under this agreement, an that at the time of execution of this instrument there has been no anticipation or prepayment of any of the payments due under the REDEVELOPMENT CONTRACT. ASSIGNORS covenant that ASSIGNORS will not hereafter collect or accept payment of any payments due under the REDEVELOPMENT CONTRACT. ASSIGNORS further covenant that ASSIGNORS will execute and deliver to ASSIGNEE such further assignments of payments under the REDEVELOPMENT CONTRACT as ASSIGNEE may from time to time request. Upon ASSIGNORS' breach of any covenant contained in this instrument or upon any default of the LOAN DOCUMENTS, or upon any breach of any obligation of ASSIGNORS due to ASSIGNEE, ASSIGNEE may in person, by agent or by acourt-appointed receiver, regardless of the adequacy of ASSIGNEE'S security, enter upon and take and maintain full control of the REAL ESTATE in order to perform all acts necessary and appropriate for the operation and maintenance thereof including, but not limited to, the execution, cancellation or modification of leases, the collection of all rents and revenues of the REAL ESTATE, the making of repairs to the REAL ESTATE and the execution or termination of contracts providing for the management or maintenance of the REAL ESTATE, all on such terms as are deemed best to protect the security of this instrument. In the event ASSIGNEE elects to seek the appointment of a receiver for the REAL ESTATE upon breach of this instrument, or upon default of the LOAN DOCUMENTS, ASSIGNORS hereby expressly consent to the appointment of such receiver. ASSIGNEE or the receiver shall be entitled to receive a reasonable fee for so managing the REAL ESTATE. #SCAP ASSIGNMENT DOCUMENTATION BY MGWL a o}-S 200'75044 Executed this ~'day'of,May 2006.. SOUTH CENTRALBEl3AYIORAL.SERVICES,,INC:, ASSIGNOR, Name: Gary W: Herire' lts:. ~. Chief`Executive Officer' STATE OF NEBRASKA ) )ss: COUNTY OF ADAMS ) On thi$ ~~~ay of;May; 2006 before me the undersigned, a Notary Public; personally appeared-Gary. W's Henrie, Chief Eiiecutive Officer, of South CentralBehavioral~Services, Inc:, who executed the foregoing instrument, and,acknowledged that;lie:executed the same as his voluntary _ . act and deed on behalf of the company: ~eF.~t cz-.Q.. inn GENERAL NOTARY-State of Nebresko Notary Public a DEBRA J. VAVRA ~`°+My Comm. Fxp. Feh. 22,2007 SOUTH CENTRAL- .APAR'T'MENT PARTNERS,,LLC a Nebraska limited. liability company ("ASSIGNOR") By: Central States Development;,LLC;, a'Nebraska . limitedliabili comQany (its "AD NISTRAT1Vfi B .'~ ~ w~ y~ John~C: Foley Its:, I4lanaging Member STATE QF NEBRASKA ) )ss COUNTY OF ) ~C~Z.ia~ .~h On this-~ day of Ivlay, 2006 before me,the.undersigned, a Notary Public, personally appeared John C. Foley;,Managiiig,Memlier..o.f Central:States Development; LLC; who executed' the foregoing instrument, and acknowledged.that he executed tfie same ashis volunfaryact.and deed.on behalf`of the:companyc ~,~ ~~- GENERAL NOTARY- State of Nebraska R PHYLLIS C. PETERSON Notary Pu I c .Comm. #S ti BY MGWL Q~ .GIJOr! ~0~~ Consent and Acknowledl;ement C)n ibis ~3'"ioi i~~1ay, 2006, by execution hereof, the A13"1'HC>I21'C,'Y, uckncrwietiges and consents to the Iaregoinl;Assi~nment of f21~DE1VGLOPI~I~N'I'CON"!'RACY. CO,``1,N4 L1 NI`I'Y 'lilEDf'Vh LOk'R9TN'1' A U'1'1-IOltll'Y OP 'I`I.1Ti 0:1'1'1' OF L-lAS']'1NCS, N GBltt15KA Dick 1•lysc>ll - Its: Chairmal7~ rCl"I'1' .' -. hind}' Cluck, !~ ~i'ficio Secretar~~ )ss. t:..OGN"I'Y OP AI~AI\95 } 07rt UZis oZ,Z~~c~ y crf ivlay, 2006 before me the ~rnil,m•siE;ned, a Notary T'ublic, persanally~ appears-ai Dick 1-lysell, "aaaixman of Cc>muiunil}' Redcvelopnu.^.nt Authority c>f the City of 1-La~linbs, Nebraska, ti~~ho executed tl7e~ fpregoinb Instrument, and acknc>tvleclned U~at heexecrt~t~d the sanii> as his ecilunlar~~ arl and deed Cud behalf of Lhe company. ~, GENERAL NOTARY • State of Nebraska _f~~ GENEVIEVE SKUTNIK My Comm. Exp. May 15, 2001 S-Ct1'1'GOT~ NI3131:ASKA ) }ss. ~.~OUN`r~' or tv7t~~~ls 7 iVotat'y public --- - - - -_ __ CJn this ~ "~C pry of lvlay, 2006 be-fore me. the imdt~xsz~ned, fl Notar~~ Pt~l7lie, persc~nalS~: ni:,pc~ared Rrrnd~~~ Chick, ix ofiiciq Secretary of Community Itedc~~elol?n~ent Authority of ilre Ciiy of.'hiasti,n~s, Nebr.+ska, r+ha exf~cuted the Iarel;oinK instrument, and racknot+dedged tdanthe executed the so nu; ashis ti~oluntary act and decd on behalfof the company. q .__, _ ~Zu..._. GENERAL NOTARY-State of Nebraska NolarvNublir. e JK GENEVIEVE SKUTNIK - My Comm. Exp. May 15, 2001 #SCI1P FlSSIGNh4ENT DOCUMGtVTATIUN F31' MGWL ~. ofS 200'75044 crr~'c~rr-lA rt~rv/~c~s,Nrt,K~~s t Matthew S. TZtJSS~31 11~: N~t„,t>r A' "I"t~S'I': Connie; I~lartman, Ci }, Clerk S'I'~11"la OP N GIIRASKA ) )ss. CC7UN't'Y C)F nDAA•15 ) ,.~`~ Ni~ST IiVps''o,. c ~, • •• •••'•F~ ~' ~, ~~ GO RPp~,q ~ c t ~, c l~ D `: L Un #his ~ ~ }~ of N~lay, 20C)G before me Ute undersigned, a Notary Pti}alic, hersanally appl^ared Matthew S. Rosen, lti~tayvr pf the City oT t~lastings, Nebraska, «~ho executed tale Tc~rothuinl; insln.imerlt, and ackncnvledged that he executed the same as his voluntaryr act anti deed ot~ bellall elf tha City of 1-Tastings, Nebraska. ~, GENERAL NOTARY -State of Nehraska jtlt,~ GENEVIEVESKUTNIK °d"'.~c-' My Comm. Esp. May 15, 2007 5'1'~17'Ei C71? NtBRASKrI ) )ss. . Notary l'ul.llir On this ..~rJ_~;+y of P4ay, ~tlpG before me the undeJ~signed, a Nolan-}~ Public, rersonally ay~pearcd C:.onnie t-iarunan, Oily Clerk of the City of L-tastings, Nebraska, who executed the (orlcg~:~ing instrcnnent, and ecknox=IedUed thatshe executed the saRle as her c~ollulJal~y acr and cited on behalf oEthe City of Hastin}s, Nebraska. GENERAL NOTARY- State of Nehraska -v'-`-~_-_.... _ ~~ GENEVIEVESKUTNIK Notary Public My Comm. Esp. May 15, 2007 IIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIII II IIIIII IIIIIIIIIIIII U41677995-01NW05 RSS I GNr1FNT LURNk fl416205175-42 US Recordings dSCAP ASSIf_+NMENT DOCUMEMTATIpN BY MGWL S"mf 5