Nevada § 107A.310 - Application of proceeds

§ 107A.310. Application of proceeds

Unless otherwise agreed, an assignee that collects rents under this chapter or collects

upon a judgment in an action under subsection 3 of NRS 107A.330 shall apply the sums collected in the following order to: 1. The assignee's reasonable expenses of enforcing its assignment of rents, including,

without limitation, to the extent provided for by agreement and not prohibited by

law of this State other than this chapter, reasonable attorney's fees and costs incurred

by the assignee; 2. Reimbursement of any expenses incurred by the assignee to protect or maintain the

real property subject to the assignment; 3. Payment of the secured obligation; 4. Payment of any obligation secured by a subordinate security interest or other lien

on the rents if, before distribution of the proceeds, the assignor and assignee receive

a notification from the holder of the interest or lien demanding payment of the proceeds;

and 5. The assignor.