NEBRASKA -- Farmer Mac UNIFORM INSTRUMENT (Open End) Form 5000.28
<br />201400935
<br />Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in
<br />accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup.
<br />19. Additional Property Subject To The Security Instrument. This Security Instrument also constitutes a
<br />security agreement within the meaning of the Uniform Commercial Code as adopted in the State of Nebraska (the "UCC ").
<br />In addition to the Property described in the Security Instrument, the following items now or hereafter attached to the Property
<br />to the extent they are fixtures are added to the Property description, and shall also constitute the Property covered by the
<br />Security Instrument: building materials, appliances and goods of every nature whatsoever now or hereafter located in, on, or
<br />used, or intended to be used in connection with the Property, including, but not limited to, those for the purposes of supplying
<br />or distributing heating, cooling, electricity, gas, water, air and light, fire prevention and extinguishing apparatus, security and
<br />access control apparatus, plumbing, bath tubs, water heaters, water closets, sinks, ranges, stoves, refrigerators, dishwashers,
<br />disposals, washers, dryers, awnings, storm windows, storm doors, screens, blinds, shades, curtains and curtain rods, attached
<br />mirrors, cabinets, paneling, attached floor coverings, irrigation pipes and pumps, livestock fencing and pens, windmills and
<br />related equipment and pumps, grain bins and storage bins and specifically: All Dwellings, Buildings, and all Irrigation
<br />Equipment including but not limited to Well Permit #10276 (Registration #G- 006153), Well Permit # 10279
<br />(Registration #G- 006155), Western Land Rover Pump (S/N 249424), Western Land Rover Pump (S/N
<br />F427A/T08T173R112F), 2 -15 HP Electric Motors, all of which, including replacements and additions thereto, shall be
<br />deemed to be and remain a part of the Property covered by the Security Instrument. All of the foregoing together with the
<br />Property described in the Security Instrument (or the leasehold estate if the Security Instrument is on a leasehold) are referred
<br />to in this Security Instrument as the "Property."
<br />20. Fixture Filing. This Security Instrument constitutes a "fixture filing" for the purposes of the UCC against
<br />all of the Property which is or is to become fixtures per the UCC.
<br />21. Use of Property; Compliance With Law. Borrower shall not seek, agree to or make a change in the use
<br />of the Property or its zoning classification, unless Lender has agreed in writing to the change. Borrower shall comply with all
<br />laws, ordinances, regulations and requirements of any governmental body applicable to the Property.
<br />22. Assignment of Leases. Upon Lender's request after default, Borrower shall assign to Lender all leases of
<br />the Property and all security deposits made in connection with leases of the Property. Upon the assignment, Lender shall
<br />have the right to modify, extend or terminate the existing leases and to execute new leases, in Lender's sole discretion. As
<br />used in this paragraph , the word "lease" shall mean "sublease" if the Security Instrument is on a leasehold.
<br />23. Assignment of Rents; Appointment of Receiver; Lender In Possession. Borrower absolutely and
<br />unconditionally assigns and transfers to Lender all the rents and revenues ( "Rents ") of the Property, regardless of to whom
<br />the Rents of the Property are payable. Borrower authorizes Lender or Lender's agents to collect the Rents, and agrees that
<br />each tenant of the Property shall pay the Rents to Lender or Lender's agents. However, Borrower shall receive the Rents
<br />until (i) Lender has given Borrower notice of default pursuant to Sections 12 and 25 of the Security Instrument and (ii)
<br />Lender has given notice to the tenant(s) that the Rents are to be paid to Lender or Lender's agent. This assignment of Rents
<br />constitutes an absolute assignment and not an assignment for additional security only.
<br />If Lender gives notices of default to Borrower: (i) all Rents received by Borrower shall be held by Borrower as
<br />trustee for the benefit of Lender only, to be applied to the sums secured by the Security Instrument; (ii) Lender shall be
<br />entitled to collect and receive all of the Rents of the Property; (iii) Borrower agrees that each tenant of the Property shall pay
<br />all Rents due and unpaid to Lender or Lender's agents upon Lender's written demand to the tenant; (iv) unless applicable law
<br />provides otherwise, all Rents collected by Lender or Lender's agents shall be applied first to the costs oftaking control of and
<br />managing the Property and collecting the Rents, including, but not limited to, attorneys' fees, receiver's fees, premiums on
<br />receiver's bonds, repair and maintenance costs, insurance premiums, taxes, assessments and other charges on the Property,
<br />and then to the sums secured by the Security Instrument; (v) Lender, Lender's agents or any judicially appointed receiver
<br />shall be liable to account for only those Rents actually received; and (vi) Lender shall be entitled to have a receiver appointed
<br />to take possession of and manage the Property and collect the Rents and profits derived from the Property without any
<br />showing as to the inadequacy of the Property as security.
<br />If the Rents of the Property are not sufficient to cover the costs of taking control of and managing the Property and
<br />of collecting the Rents any funds expended by Lender for such purposes shall become indebtedness of Borrower to Lender
<br />secured by the Security Instrument pursuant to Section 7 of the Security Instrument.
<br />Borrower represents and warrants that Borrower has not executed any prior assignment of the Rents and has not
<br />11111111111 I1111111 005 111 11111 1111 1111
<br />2
<br />11 02014, All Rights Reserved
<br />1513140214 [Doe Id 2210 M10302013]
<br />
|