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1 -4 FAMILY RIDER 200002373
<br />(Assignment of Rents)
<br />THIS 1 -4 FAMILY RIDER is made this 27th day of March , 2000 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 same date given by
<br />the undersigned (the "Borrower ") to secure Borrower's Note to The Overland National Bank of Grand Island
<br />(the "Lender ")
<br />of the same date and covering the Property described in the Security Instrument and located at:
<br />4222 Stonerid4e Path Grand Island Nebraska 68801
<br />[Property Address]
<br />1 -4 FAMILY COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender
<br />further covenant and agree as follows:
<br />A. ADDITIONAL PROPERTY SUBJECT TO THE SECURITY INSTRUMENT. In addition to the Property described
<br />in the Security Instrument, the following items 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 used, or
<br />intended to be used in connection with the Property, including, but not limited to, those for the purposes of supplying or distributing
<br />heating, cooling, electricity, gas, water, air and light, fire prevention and extinguishing apparatus, security and access control apparatus,
<br />plumbing, bath tubs, water heaters, water closets, sinks, ranges, stoves, refrigerators, dishwashers, disposals, washers, dryers, awnings,
<br />storm windows, storm doors, screens, blinds, shades, curtains and curtain rods, attached mirrors, cabinets, panelling and attached floor
<br />coverings now or hereafter attached to the Property, all of which, including replacements and additions thereto, shall be deemed to be
<br />and remain a part of the Property covered by the Security Instrument. All of the foregoing together with the Property described in the
<br />Security Instrument (or the leasehold estate if the Security Instrument is on a leasehold) are referred to in this 1 -4 Family Rider and the
<br />Security Instrument as the "Property ".
<br />B. USE OF PROPERTY; COMPLIANCE WITH LAW. Borrower shall not seek, agree to or make a change in the use of
<br />the Property or its zoning classification, unless Lender has agreed in writing to the change. Borrower shall comply with all laws,
<br />ordinances, regulations and requirements of any governmental body applicable to the Property.
<br />C. SUBORDINATE LIENS. Except as permitted by federal law, Borrower shall not allow any lien inferior to the Security
<br />Instrument to be perfected against the Property without Lender's prior written permission.
<br />D. RENT LOSS INSURANCE. Borrower shall maintain insurance against rent loss in addition to the other hazards for which
<br />insurance is required by Uniform Covenant 5.
<br />E. "BORROWER'S RIGHT TO REINSTATE" DELETED. Uniform Covenant 18 is deleted.
<br />F. BORROWER'S OCCUPANCY. Unless Lender and Borrower otherwise agree in writing, the first sentence in Uniform
<br />Covenant 6 concerning Borrower's occupancy of the Property is deleted. All remaining covenants and agreements set forth in Uniform
<br />Covenant 6 shall remain in effect.
<br />G. ASSIGNMENT OF LEASES. Upon Lender's request, Borrower shall assign to Lender all leases of the Property and all
<br />security deposits made in connection with leases of the Property. Upon the assignment, Lender shall have the right to modify, extend or
<br />terminate the existing leases and to execute new leases, in Lender's sole discretion. As used in this paragraph G, the word "lease"
<br />'shall mean "sublease" if the Security Instrument is on a leasehold.
<br />H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. Borrower absolutely
<br />and unconditionally assigns and transfers to Lender all the rents and revenues ( "Rents ") of the Property, regardless of to whom the Rents
<br />of the Property are payable. Borrower authorizes Lender or Lender's agents to collect the Rents, and agrees that each tenant of the
<br />Property shall pay the Rents to Lender or Lender's agents. However, Borrower shall receive the Rents until (I) Lender has given Borrower
<br />notice of default pursuant to paragraph 21 of the Security Instrument and (ii) Lender has given notice to the tenant(s) that the Rents are
<br />to be paid to Lender or Lender's agent. This assignment of Rents constitutes an absolute assignment and not an assignment for
<br />additional security only.
<br />If Lender gives notice of breach to Borrower: (I) all Rents received by Borrower shall be held by Borrower as trustee for the benefit of
<br />Lender only, to be applied to the sums secured by the Security Instrument; (ii) Lender shall be entitled to collect and receive all of the
<br />Rents of the Property; (iii) Borrower agrees that each tenant of the Property shall pay all Rents due and unpaid to Lender or Lender's
<br />agents upon Lender's written demand to the tenant; (iv) unless applicable law provides otherwise, all Rents collected by Lender or
<br />Lender's agents shall be applied first to the costs of taking control of and managing the Property and collecting the Rents, including, but
<br />not limited to, attorney's fees, receiver's fees, premiums on receiver's bonds, repair and maintenance costs, insurance premiums, taxes,
<br />assessments and other charges on the Property, and then to the sums secured by the Security Instrument; (v) Lender, Lender's agents
<br />or any judicially appointed receiver shall be liable to account for only those Rents actually received; and (vi) Lender shall be entitled to
<br />have a receiver appointed to take possession of and manage the Property and collect the Rents and profits derived from the Property
<br />without any 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 of collecting the
<br />Rents any funds expended by Lender for such purposes shall become indebtedness of Borrower to Lender secured by the Security
<br />Instrument pursuant to Uniform Covenant 7.
<br />Borrower represents and warrants that Borrower has not executed any prior assignment of the Rents and has not and will not
<br />perform any act that would prevent Lender from exercising its rights under this paragraph.
<br />Lender, or Lender's agents or a judicially appointed receiver, shall not be required to enter upon, take control of or maintain the
<br />Property before or after giving notice of default to Borrower. However, Lender, or Lender's agents or a judicially appointed receiver, may
<br />do so at any time when a default occurs. Any application of Rents shall not cure or waive any default or invalidate any other right or
<br />remedy of Lender. This assignment of Rents of the Property shall terminate when all the sums secured by the Security Instrument are
<br />paid in full.
<br />I. CROSS - DEFAULT PROVISION. Borrower's default or breach under any note or agreement in which Lender has an
<br />interest shall be a breach under the Security Instrument and Lender may invoke any of the remedies permitted by the Security Instrument.
<br />BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this 1 -4 Family Rider.
<br />Borrower
<br />MULTISTATE 1 -4 FAMILY RIDER - Fannie Mae /Freddie Mac Uniform Instrument
<br />F1342.LM(3 (7/99) 20016
<br />[Seal]
<br />[Seal]
<br />[Seal]
<br />[Seal]
<br />Form 3170 9/90
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