58-2343.Assignment of rents of real property; lien; action upondefault.(a) As used in this section:
(1) "Assignment instrument" means any mortgage, deed of trust,or other instrument or agreement by which a borrowerassigns, transfers, pledges, or otherwise grants a lien upon or encumbers itsrights to rents of real property therein described to or for the benefit of alender as security for the repayment of any indebtedness or the performance ofany obligations.
(2) "Borrower" means any mortgagor, deed of trust grantor, assignor, ordebtor of any lender.
(3) "Lender" means any mortgagee, deed of trust beneficiary, assignee, orcreditor, or its assigns, holding an assignment instrument.
(4) "Rents" includes the rents, income, proceeds, profits, royalties andother sums which (A) are derived under present and future leases, licenses,contracts andother agreements for the use or possession of real property and (B) are eitherin the possession or control of the borrower or aredue and unpaid or are to become due and payable.
(b) The lien of an assignment instrument shall be a good, valid andenforceable lien on the rents from the real property therein described. Suchlien shall be valid and binding against, unavoidable by and fully perfected asto the borrower and all subsequent purchasers, mortgagees, lien creditors,other lienholders and other persons for all purposes from the time of filingthe assignment instrument or an affidavit of assignment of rents signed by theborrower for record in accordance with K.S.A. 58-2221 andamendments thereto, with a priority dating from the time of such filing,withoutany necessity for the lender to take possession or control of such rents or theproperty from which such rents are derived, to take any action tantamount tothe taking of such possession or control, or to take other action whatsoever.
(c) Upon default by a borrower under the terms of an assignment instrument,the lender shall be entitled to enforce the assignment instrument in accordancewith its terms and applicable law, and may apply to the district courthaving jurisdiction forappropriate relief to gain possession and control of the rentsin enforcement of the assignmentinstrument. Upon such application, the courtshall enter such orders and take such actions as appear necessary to collect,protect and preserve the rents and protect and preserve the lender's interesttherein pending final disposition of an action upon the obligations secured bythe assignment instrument.
(d) Any tenant who, upon due notice from the lender, makes rent payments tothe lender in accordance with the terms of the assignment instrument shall begiven credit for such payment as if the payments had been made to the borrower,but nothing herein shall affect the other rights and obligations of theborrower or the tenant as to one another.
58-2343.Assignment of rents of real property; lien; action upondefault.(a) As used in this section:
(1) "Assignment instrument" means any mortgage, deed of trust,or other instrument or agreement by which a borrowerassigns, transfers, pledges, or otherwise grants a lien upon or encumbers itsrights to rents of real property therein described to or for the benefit of alender as security for the repayment of any indebtedness or the performance ofany obligations.
(2) "Borrower" means any mortgagor, deed of trust grantor, assignor, ordebtor of any lender.
(3) "Lender" means any mortgagee, deed of trust beneficiary, assignee, orcreditor, or its assigns, holding an assignment instrument.
(4) "Rents" includes the rents, income, proceeds, profits, royalties andother sums which (A) are derived under present and future leases, licenses,contracts andother agreements for the use or possession of real property and (B) are eitherin the possession or control of the borrower or aredue and unpaid or are to become due and payable.
(b) The lien of an assignment instrument shall be a good, valid andenforceable lien on the rents from the real property therein described. Suchlien shall be valid and binding against, unavoidable by and fully perfected asto the borrower and all subsequent purchasers, mortgagees, lien creditors,other lienholders and other persons for all purposes from the time of filingthe assignment instrument or an affidavit of assignment of rents signed by theborrower for record in accordance with K.S.A. 58-2221 andamendments thereto, with a priority dating from the time of such filing,withoutany necessity for the lender to take possession or control of such rents or theproperty from which such rents are derived, to take any action tantamount tothe taking of such possession or control, or to take other action whatsoever.
(c) Upon default by a borrower under the terms of an assignment instrument,the lender shall be entitled to enforce the assignment instrument in accordancewith its terms and applicable law, and may apply to the district courthaving jurisdiction forappropriate relief to gain possession and control of the rentsin enforcement of the assignmentinstrument. Upon such application, the courtshall enter such orders and take such actions as appear necessary to collect,protect and preserve the rents and protect and preserve the lender's interesttherein pending final disposition of an action upon the obligations secured bythe assignment instrument.
(d) Any tenant who, upon due notice from the lender, makes rent payments tothe lender in accordance with the terms of the assignment instrument shall begiven credit for such payment as if the payments had been made to the borrower,but nothing herein shall affect the other rights and obligations of theborrower or the tenant as to one another.
58-2343.Assignment of rents of real property; lien; action upondefault.(a) As used in this section:
(1) "Assignment instrument" means any mortgage, deed of trust,or other instrument or agreement by which a borrowerassigns, transfers, pledges, or otherwise grants a lien upon or encumbers itsrights to rents of real property therein described to or for the benefit of alender as security for the repayment of any indebtedness or the performance ofany obligations.
(2) "Borrower" means any mortgagor, deed of trust grantor, assignor, ordebtor of any lender.
(3) "Lender" means any mortgagee, deed of trust beneficiary, assignee, orcreditor, or its assigns, holding an assignment instrument.
(4) "Rents" includes the rents, income, proceeds, profits, royalties andother sums which (A) are derived under present and future leases, licenses,contracts andother agreements for the use or possession of real property and (B) are eitherin the possession or control of the borrower or aredue and unpaid or are to become due and payable.
(b) The lien of an assignment instrument shall be a good, valid andenforceable lien on the rents from the real property therein described. Suchlien shall be valid and binding against, unavoidable by and fully perfected asto the borrower and all subsequent purchasers, mortgagees, lien creditors,other lienholders and other persons for all purposes from the time of filingthe assignment instrument or an affidavit of assignment of rents signed by theborrower for record in accordance with K.S.A. 58-2221 andamendments thereto, with a priority dating from the time of such filing,withoutany necessity for the lender to take possession or control of such rents or theproperty from which such rents are derived, to take any action tantamount tothe taking of such possession or control, or to take other action whatsoever.
(c) Upon default by a borrower under the terms of an assignment instrument,the lender shall be entitled to enforce the assignment instrument in accordancewith its terms and applicable law, and may apply to the district courthaving jurisdiction forappropriate relief to gain possession and control of the rentsin enforcement of the assignmentinstrument. Upon such application, the courtshall enter such orders and take such actions as appear necessary to collect,protect and preserve the rents and protect and preserve the lender's interesttherein pending final disposition of an action upon the obligations secured bythe assignment instrument.
(d) Any tenant who, upon due notice from the lender, makes rent payments tothe lender in accordance with the terms of the assignment instrument shall begiven credit for such payment as if the payments had been made to the borrower,but nothing herein shall affect the other rights and obligations of theborrower or the tenant as to one another.
