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� �II � � � C`� I � � . 1�4 FAMRLY RIDER 90"' 10256 � � Assig�nment o1F Reats 'IHIS 1-� FAM1�.Y RmEIt is made this 8thday oF May , 19 90 . md Is incorpot�ted into and sh�ll be d�crncd to amend and supptement che Mongage,Deed of Trost or Security Qced (the "3ewriry Insbument") of the same date given by the undersigned (the "Bo�rower") to secure Horrower's Nvte to Equitable Building and Loan Association 113-115 N. Locus�ts St. Grand Island(�he �•Lender") of the same date u�d coveting the property described in the Security In�trument and located at: 1416 North Park, Grand Island, NE 68803 ta�open,�ndaresst 1�FArl1LY('O�'ENM"�'S,In addition to the covecr.;3nts and agreements made in the Security lnsttureiert, Borrower ar�d Let�er furthec oo��nant .�..d agt�ee as follows: A.USE OF PAOPERTY; COMPLIANCE W1TH LAW. Borrower shall not seek,agree to or make a change in t@�r� use of the Pt+operiy or its zoning classification, unles,s I.ender has agreed in writing to the change. BoROw�ec shall comply with aIll laws, ordinances. regicda�ions and requirements of any govemmental body applicable to the Prope�ty. B. SUBORDDVA'I'E LtENS.Except as pe�mitted by federal IaN, Borrower shall not allow any lien inferior to the Security InsWment to be perfected against the Property without Lz�der's prior written permission. C.RENT LOSS INSURANCE. Borrower shall maintain insuranre against rent loss in addition to the other hazards for whi�h insurance is reyuired by Uniform Covenant 5. D. •�BORROVVER'S RIGHT TO REItiSTAT�' DELETED. t':�iform Covenant 18 is deleted. E.ASSIGNME;VT OF LEASES. Upon l.ender's request, Bor�E�u;r shall assign to Lender all leases of the Proper�� and all security deposits made in connection with leases of the Prop�ttv. Upan ihe assignment. Lender shall have the right tv mnodify. eatend or terminate the existing leases an�3 to execute new leases,in L.ender's sole discret�on. As used in this paragraph E. the word "lease" shall mean "sublease" if the Serurity Instrument is un a leasehold. ; ' F.ASSIGNMENT UF RENTS. Boirower unconditionally assigns and transfers to Lender all the rents and revenne.s , � ' of the Pnnperty. Botrower authorizes Lender or Lender's agents to collect the rents and revenues and herebv directs each - tenant of the Ptaperty to pay the tents to Lender or Lendzi s agents. Howevcr, prior to Lender's Notice to BoRawer of - Borrower's breaeh of any covenant or agreement in the Security Instjvment, Barrower shall collect and receive all rents � - and revenues of the Property as trustee for the benefit of Lender an� Borrox�er. This assignment of rents constitutes an � -- ; absolute assignment and not an assignment for additional security only. '� If Lender gives notice of breach to Borrower: (il all rents received by Borrower s�all be held by Borrower as trustee • for txne�it of Lender only, to Fre applied to the sums secured by the Security Insttument: (ii) Lender shall be cntitled to collect and receive all of the rents of the Property;and (iii)each tenant of the Property shall pay all rents due and unpaic� • to Lender or Lendep's agent on Lender's written demand to the tenant. � Borrower has no� ezecuted any prior assignment of the rents and hac not and wdll not perform any act that w•oufd . • prevent �.ender from exercising its rights under this paragraph F. : Leoder shall not be required to enter upon, take control of or maintain the Property b�fore or after gi�•ing notice of breach to Borrower. However. Lender or a judicially appointed receiver may da so at any time there is a breach. An� . � application of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This assigr.- � � . ment of rents of the Property shall teiminate when the debt secured by the Security Instrument is paid in full. � _ G.CROSS-DEFAULT PROVISION. Borrower's default or breach under an� nate or agreement in w•hich Lender has an interest shall be a breach under the Security lnstrument and Lender may imaf:e any of the remedies permitted by thc Security Instrument. BY SIGMNG BELOW, Borrower accepts and ag�ees ta the terms and provisivns contained in this I-4 Family Rider. ..�.�'. . ..��1./L.�?'!.. . -. .. . . . . ... . . .. . . . . ... ..(Seal) H. Ervin Sorensen , B°`•o'"e' � _.i. . .-.�.?. ?�. . .7�.�. ..��'.'.S!. ".< z':. . '. .—''-� . . . . . .(Sea1J :--_ Irene N!. Sorensen Bo��oHer . .. . . . .. .. . . . .. . . .. . . . ... . ... . . ... . ... . . . .. .. . . . . . . . . .(Seal) �prrower a L . .. . . . ... . .. . . . .. . . .. . . . .. . ... . . ... .. . . owe� . . . . . ..($28�) � Bprr 'i� � . � . � MULTISTATE 1�1 FAMII�RlDER —fannle Nlu�F�edOie Mac Unito�'n Instrument FOR!a 3+'^•�g5 � F�rr.179r'� [r7L� . �- _� .�_..-._. _.....__.. ._ ... ..�_.._.... ._, __. _,..�- -- -.---- - -------- --- _.___.._.��.__�_ �_... ,_ _-- - . ..... ____ ______ , , . .. ` _ , , :,_,�: . •� � . . � ,,:•�,�a:m'..., �, . . � � .. � ' �" . ' '_ , - . .. . ' . . � . . . . `L"«+_.i __' ( "_'__„ ..-....zi�.c,. v.om+��..+ _ _ ' -, . . � ' G - . �. • . � � � . � , �� . � � . . . . . ' - . _.. .-_.— _. .-. .. _ .�� -- - -_ � ,.. -- ... . . . .. � . _._ .. . '_ ' �. .