Fill and Sign the Assignment Rents Form

Assignment of Rents by Lessor Assignment made as of ________________ (date) by _____________________ (Name of Assignor) of _______________________________________________________________ __________________________ (street address, city, county, state, zip code) , hereinafter called Assignor , to ______________________ (Name of Assignee) of ___________________ ____________________________________________________________________________ (street address, city, county, state, zip code) , hereinafter called Assignee . For value received, the undersigned, Assignor, grants, transfers, and assigns to _______________________ (Name of Assignee) , Assignee, all rents and sums due and to become due under that certain Lease Agreement for the lease of real property described in Exhibit A attached hereto and made a part hereof, dated ___________________ (date) , entered into by and between Assignor and _______________________ (Name of Lessee) , Lessee. A copy of said Lease Agreement is attached hereto as Exhibit B and made a part hereof. 1. Warranty. Assignor warrants that title to all property subject to the Lease Agreement is in Assignor; that Assignor is the lawful owner of the entire lessor's interest in the Lease Agreement; that the Lease Agreement is genuine; that Lessee has full capacity to contract; that Assignor has the right to make this Assignment; that full title and right to receive all rents and other sums due or to become due under the Lease Agreement are vested in Assignee by this Assignment; and that the rental property and rental payments and other sums are free from liens, encumbrances, claims, and set-offs of every kind whatsoever, and that, as of the date of this Assignment, the unpaid balance of rental payments specified in the Lease Agreement is $_____________ payable monthly in installments of $____________, commencing with the payment due on the ____ day of ______________ (name of month) , _______ (identification of year) . 2. Power of Attorney. Assignor appoints Assignee his true, lawful, and irrevocable attorney to demand, receive, and enforce payment, to give receipts, releases, and satisfactions, and to sue, either in the name of Assignor or in the name of Assignee, for all rents and sums payable under the Lease Agreement. 3. Consent . Assignor consents that, without further notice and without releasing the liability of Assignor, Assignee may, at Assignee's discretion, give grace or indulgence in the collection of all rents and sums due or to become due under the Lease Agreement and grant extensions of time for the payment of the same before, at, or after maturity. 4. Suit Against Assignor. Assignor agrees that Assignee may proceed against Assignor directly or independently of Lessee, that cessation of the liability of Lessee for any reason other than full payment shall not in any way affect the liability of Assignor under this Assignment. 5. Obligations of Assignor. Assignee does not assume any of the Lessor's obligations under the Lease Agreement. Assignor agrees: (a) to keep and perform all obligations of the Lessor under the Lease Agreement and to save Assignee harmless from the consequences of any failure to do so; and (b) to preserve the property subject to the Lease Agreement free and clear of liens and encumbrances, except to or with the consent of Assignee. 6. Notice of Assignment. Assignor agrees that Assignor will not assign any other interest in the Lease or Lease Agreement; that notice of this Assignment may be given to Lessee at any time at Assignee's option; and that, in the event any payment under the Lease Agreement is made to Assignor, Assignor will promptly transmit such payment to Assignee in the same form as it is received by Assignor except that Assignor will endorse instruments which are payable to Assignor. 7. Duration. This Assignment is irrevocable and shall remain in full force and effect until and unless there is payment in full of all obligations secured by it or it is released in writing by Assignee. 8. Notices Unless provided herein to the contrary, any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement. Assignor has caused this assignment to be executed as of this ________________ (date) . ________________________________ (Printed Name of Assignor) ________________________________ (Signature of Assignor) (Acknowledgment form may vary by state) State of _____________________ County of ___________________ Personally appeared before me, the undersigned authority in and for the said County and State, on this ___________________ (date) , within my jurisdic tion, the within-named _________________________ (Name of Assignor) , who acknowledged that he executed the above and foregoing instrument. ________________________________ NOTARY PUBLIC My Commission Expires: ____________________ Attach Exhibits