General Assignment of Rents as Security

This General Assignment of Rents as Security for Indebtedness will effectively assign a rental property owner's interest in rents as security for a loan. This assignment sets out the names of both assignor and assignee and the date and amount of the promissory note and/or loan. It also sets out assignor's warranties, including performance of obligations under any assigned leases. It is imperative that this assignment be memorialized in writing. (continued ...)