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89-101168 14 FAMILY RIDER Assh mnialt of Rents . IM 1-4 FM MY RIDER is made this 7th day of March . 19 89 , and is inoarporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (dte 'Security Instrument ") of the same date given by the undersigned (the -Borrower ") to secure Borrower's Nate to The Equitable Building and Loan Association Grand Island, Nebraska, (the "der") of the Same date and covering the property described in the tecurity Instrument and located at: 708 North Broadwell, Grand Island, Nebraska 68803 tRroperty Address) 1.4 FAMILY COVENANTS. In addition to the covenants and agreements made in the Sew :.e' llwn ment, Borrower and Lender further covenant and agree as follows: A. USE OF PROPERTY; COMPLIANCE WITH LAW. Borrower shall not seek, agree to or rnak a change in the use of the Property or its zoning classification. unless Lender has agreed in writing to the cliaripe. Borrower shall comply with all laws, cidinances, regulations and requirements of any governmental body applicaMe to the Property. T 8. SEliBc?ra' DINU ATE LIMNS. Except as permitted by federal law. Borruwer,shail. not a116 w any 1iiti inferior to the Security Instrument to be perfected against the Property without Lenders prur wriiteo p mission. C. RENT LOSS INSURANCE. Borrower shall maintain insurance against rent loss in udliition to the other hazards for which insurance is required by Uniform Covenant 5. D "BORROWER'S RIGHT TO REINSTATE" DELETED. Uniform Covenant 18 is deleted. & ASSIGNMENT OF LEASES. Upon lender's teyuest. Borrower shall assign to Lender all leas of the Property and au security deposits made in connection'with le4s of the Fmperty. Upon the assignment, Lender shall have the rf},tiirera,madif5►, extend or terminate the existing leases and to execute' new leases. in Lender's sole discretion_. As wal 11,a this paragraphs E, the ward "lease" shall mean "sublease" if the Security Instrument is on a leasehold.. F. ASSIGNMENT OF RENTS. Borrower unconditionally assigns and transters to lender all the rents and revenues of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the Property to pay the rents to Lender or L.ender's agents. However, prior to Lender's Notice to Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for the benefit of Lender and Bomiwer. This assignment of rents constitutes an absolute assignment and not an assignment for additii;np.l jam ity only. It tender gives notice of breach to Borrower: (0 all tens t eived by Borrower shall he held by Borrower as trustee for benefit of Lender only, to be applied to the sums secured Isy 111e Security Instrument: (ii) Lender shall be entitled to collect and receive all of the rents of the Property, and (iii) each tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's written demand to the tenant. Harrower has not executed any prior assignment of the rents and has not and will net perform any act that would prevent Lender from exercising its rights under this paragraph F. Lender shall not be required to enter upon, take control of o: maintain the Property be.ora or after giving notice of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents shall not cute or waive any de6nR or invalidate any other right or remedy of Lender. This assign- ment of rents of the Property shall terminate when d;e• debt secured by the Security Instrument is paid in full.. G. CROSS - DEFAULT PROVISION. Borrowers default or preach under any note or agreement in which Lender has an interest shall' tie a breach under the Security Instrument and Lender may invoke any of the remedies permitted by the Security Instrument. 11?° SLGNING BELOW, Boffowv., �.n �epts and agrees to the term; and provisions contained in this 1.4 Family Rider .......... . . .. . . .tSeal) Donna M.' A bers aorrower .. ........ ....... (seal) • �� •. ' � Bo�r�war ............. ............................... .(Seal) .......... ..... ... .... .. 8010wef •• •. ISeal) &lUllltitATE 1 t FANMtr NON — Famla awftmia &tae Unitontr Inttramant FORM 3+R1 1"5 - rC1'^h 11 �(J ..�-w. [ m � .,. ac - �s r -. Far . -,•. _ + • < � -, �— - .'. tapalSJCt'OfF'.'��v tdOO- alttYS1J i x