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200005275
<br />ASSIGNMENT OF RENTS RIDER
<br />THIS AGREEMENT OF RENTS RIDER is made and executed this 23'd day of June 2000, and is
<br />incorporated into and shall be deemed to amend and supplement the Deed of Trust, hereinafter referred
<br />to as the "Security Instrument," of the same date given by the undersigned, hereinafter referred to as
<br />the "Borrower ", to secure Borrower's indebtedness hereinafter referred to as the "Note" to Bremer Bank,
<br />N.A., hereinafter referred to as the "Lender ", of the same date and covering the property described in
<br />the Security Instrument and located at 214 North Piper Street, Grand Island, Nebraska 68803, and
<br />legally described as:
<br />Lots Ten (10) Warren Subdivision in the City of Grand Island, Hall County, Nebraska.
<br />WITNESSETH:
<br />WHEREAS, Borrower and Lender have agreed that any rents and profits attributable to the
<br />property should constitute additional security to the Lender for the payment of the Note;
<br />NOW, THEREFORE, it is agreed that the Security Instrument shall be amended hereby and
<br />deemed to include the following provisions:
<br />1. Assignment of Rents and Lender Rental Collection Rights. Borrower hereby absolutely
<br />and unconditionally assigns all rents, issues, and profits of the property to Beneficiary. Lender shall
<br />have the right, power, and authority during the continuance of the Security Instrument to collect the
<br />rents, issues, and profits of the property and of any personal property located thereon with or without
<br />taking possession of the property affected hereby. Lender, however, hereby consents to Borrower's
<br />collection and retention of such rents, issues and profits as they accrue and become payable, so long
<br />as Borrower is not, at such time, in default with respect to payment of any indebtedness secured
<br />hereby, or in the performance of any agreement hereunder.
<br />2. Appointment of Receiver. If any event of default in respect to the Security Agreement
<br />shall have occurred and be continuing, Lender, as a matter of right and without notice to Borrower or
<br />anyone claiming under Borrower, and without regard to the value of the trust estate or the interest of
<br />the Borrower therein, shall have the right to apply to any court having jurisdiction to appoint a receiver
<br />of the property.
<br />3. Right to Possession. In case of default in the payment of the said principal Note or
<br />interest, or any part thereof, as it shall mature, or in the case of failure to keep or perform any of the
<br />covenants or agreements contained in the Security Instrument, then the Lender, its successors or
<br />assigns, shall be and is hereby authorized and empowered to take immediate possession of the said
<br />premises therein described and to collect the rents therefrom, and to apply the proceeds thereof to the
<br />payment of the Note.
<br />4. Application of Rents. Issues. and Profits. All rents collected by Lender or the receiver
<br />shall be applied first to payment of the costs of management of the property and collection of rents,
<br />including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorney's
<br />fees, and then to the sums secured by the Security Instrument. Lender and the receiver shall be liable
<br />to account only for those rents actually received.
<br />5. Construction of Provisions. Each of the provisions contained in this Assignment of
<br />Rents Rider and the Security Instrument shall, unless otherwise specifically required, be construed in
<br />accordance with Nebraska law, and in the event any provision herein or therein contained shall be
<br />determined by a court of competent jurisdiction to be unenforceable, the same shall be construed as
<br />though such unenforceable provision were not part hereof or thereof.
<br />6. Effect of Rider. Except as specifically modified by or inconsistent with this Assignment
<br />of Rents Rider or by any other applicable rider, all of the terms and provisions contained in the Security
<br />Instrument shall continue in full force and effect.
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