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<br />1-4 FAMILY RIDER 2 412 0 9. 2 7 �
<br />(Assignment of Rents)
<br />THIS 1-4 FAMILY RIDER is mede this 10th day of February, 2012, and is incorporated into and shall be
<br />deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument°) of the
<br />same date given by the undersigned (the "Borrower°) to secure Borrower's Note to CORNERSTONE BANK (the
<br />"Lender") of the same date and covering the Property described in the Security Instrument and located at:
<br />2315 W Cherles St, Grand Island, NE 68803
<br />[Property Address]
<br />1-4 FAMILY COVENANTS. In addition to the covenants and agreements made in the Security Instrument,
<br />Borrower and Lender further covenant and agree es follows:
<br />A. ADDITIONAL PROPERTY SUBJECT TO THE SECURITY INSTRUMENT. In addition to the
<br />Property described in Security Instrument, the following items now or hereafter attached to the Property to
<br />the extent they are fixtures are added to the Property description, end shall also constitute the Property
<br />covered by the Securiry Instrument: building materials, appliances and goods of every nature whatsoever now
<br />or hereafter located in, on, or used, or intended to be used in connection with the Property, including, but not
<br />limited to, those for the purposes of supplying or distributing heating, cooling, electricity, gas, water, air and
<br />light, fire prevention and extinguishing epparatus, security and access control apparatus, plumbing, bath tubs,
<br />water heaters, water closets, sinks, ranges, stoves, refrigerators, dishwashers, disposals, washers, dryers,
<br />awnings, storm windows, storm doors, screens, blinds, shedes, curtains and curtein rods, attached mirrors,
<br />cabinets, paneling and attached floor coverings, all of which, including replacements and additions thereto,
<br />shall be deemed to be and remain a part of the Property covered by the Security Instrument. All of the
<br />foregoing together with the Property described in the Securiry Instrument (or the leasehold estate if the
<br />Security Instrument is on a leasehold) are referred to in this 1-4 Family Rider and the Security Instrument as
<br />the "Property."
<br />B. USE OF PROPERTY; COMPLIANCE WITH LAW. Borrower shall not seek, agree to or make a
<br />change in the use of the Property or its zoning classification, unless Lender has agreed in writing to the
<br />change. Borrower shall comply with all laws, ordinances, regulations and requirements of any governmental
<br />body applicable to the Property.
<br />C. SUBORDINATE LIENS. Except as permitted by federal law, Borrower shall not allow any lien
<br />inferior to the Security Instrument to be perfected against the Property without Lender's prior written
<br />permission.
<br />D. RENT LOSS INSURANCE. Borrower shall maintain insurance against rent loss 1n eddition to the
<br />other hazards for which insurance is required by Section 5.
<br />E. "BORROWER'S RIGHT TO REINSTATE" DELETED. Section 7 9 is deleted.
<br />F. BORROWER'S OCCUPANCY. Unless Lender and Borrower otherwise agree in writing, Section
<br />6 concerning Borrower's occupancy of the Property is deleted.
<br />G. ASSIGNMENT OF LEASES. Upon Lender's request after default, Borrower shall essign to
<br />Lender all leases of the Property and all security deposits made in connection with leases of the Property.
<br />Upon the assignment, Lender shall have the right to modify, extend or terminate the existing leases and to
<br />execute new leases, in Lender's sole discretion. As used in this paragraph G, the word "lease" shall mean
<br />"sublease" if the Security Instrument is on a leasehold.
<br />H. ASSIGNMENT OF RENTS;, APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. Borrower
<br />absolutely and unconditionaily assigns and transfers to Lender all the rents and revenues (°Rents") of the
<br />Property, regardless of to whom the Rents of the Property are payable. Borrower authorizes Lender. or
<br />Lender's agents to collect the Rents, and agrees that each tenant of the Properry shall pay the Rents to
<br />Lender or Lender's agents. However, Borrower shall receive the Rents until (i) Lender has given Barrower
<br />notice of default pursuant to Section 22 of the Security Instrument, and (ii) Lender has given notice to the
<br />tenant(s) that the Rents are to be paid to Lender or Lender's agent. This assignment of Rents constitutes an
<br />absolute assignment and not an assignment for additional security only.
<br />If Lender gives notice of default to Borrower: (i) all Rents received by Borrower shall be held by
<br />Borrower as trustee for the benefit of Lender only, to be applied to the sums secured by the Security
<br />Instrument; (ii) Lender shall be entitled to collect and receiva all of the Rents of the Property; (ili) Borrower
<br />agrees that each tenant of the Property shall pay all Rents due and unpaid to Lender or Lender's agents upon
<br />Lender's written demand to the tenant; liv) unless applicable law provides otherwise, all Rents collected by
<br />Lender or Lendar's agents shall be applied first to the costs of taking control of and managing the Property
<br />and collecting the Rents, including, but not limited to, ettorney's fees, receiver's fees, premiums on receiver's
<br />bonds, repair and maintenance casts, insurance premiums, taxes, assessments and other charges on the
<br />Property, and then to the sums secured by the Security Instrument; (v) Lender, Lender's agents or any
<br />judicially appointed receiver shall be liable to eccount for only those Rents actually received; and (vi) Lender
<br />shall be entitled to have a receiver appointed to take possession of and manage the Property and collect the
<br />Rents and profits derived from the Proparry without any showing as to the inadequacy of the Property es
<br />security.
<br />if the Rents of the Property are not sufficient to cover the costs of taking control of and managing
<br />the Property and of coilecting the Rents any funds expended by Lender for such purposes• shall become
<br />indebtedness of Borrower to Lender secured by the Security Instrument pursuant to Section 9. -
<br />Borrower represents end warrants that Borrower hes not executed any prior assignment of the Rents
<br />MULTISTATE 7-4 FAMILY RIDER --Fannie Mae/Freddle Mac UNIFORM INSTRUMENT
<br />Form 3770 7/01 (Page 1 of 2)
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