Assignment of Leases and Rents (Lender-friendly)

The Assignment of Leases and Rents (Lender-friendly) legal template is designed to facilitate the transfer, or assignment, of leases and rental income from a borrower to a lender, operating under the legal framework of the United States of America. This template outlines the rights and obligations of all parties involved in the assignment, ensuring that lenders' interests are protected in case of default by the borrower. The document covers various aspects such as lease transfer, rental income collection, protection of the lender's security interest, and default provisions in case of non-payment or breach of contract by the borrower. It is intended to provide a legally binding agreement that safeguards the lender's financial investment and allows for the continued collection of rental income in the event of an assignment.