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Z i 14 FAMILY RIDER AssigIment of Runts 89- 101526 THIS 14 FAMILY RIDER is made this 21st day of March . 19 89 and is incorporated into and shall be deemed to -amend and supplement the Mortgage. Deed of Trust or Security Deed (the ' soauity Instrument ") of the same date given by the undersigned (the "Borrower-) to secure Borrower's Note to The Equitable Building and Loan Association, Grand Island, Nebraska (the "Lender") of the same date and covering the property described in the Security instrument- and located at: 2515 West John, Grand Island, Ne. 68803 and 516 West 1st,. Grand Island, Ne. 68801 Property Address) 14 FAMILY COVENANTS. in addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. USE OF PROPERTY; COMPLIANCE WITH LAW. Borrower shall not seek. agree to or make a change in the use of the Property or its zoning classification. unless Leader has agreed in writing to the change. Borrower shall comply with a1laws. ordinances, regulations and requiremr -its of any govenanental body applicable to the Property. B. SUBORDINATE LIENS. Except as permitted by federal law, Borrower shall not allow any lien inferior to the Security Instrument to be perfected against the Property without Lender's prior written permission. C. RENT , LOSS INSURANCE. Borrower shall manatain insurance against rent loss in addition 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. E. ASSIGNMENT OF LEASES. Upon Lender's request. Borrower shall assign. to Lender all leases of the Property and all security deposits made in connection with leases of the Property. Upon the assignment, Lender shall have the tight to modify. extend or terminate the existing leases and to execute new leases, in Lender's sole discretion. As used zt this paragraph E. the word "lease' shall mean "sublease" if the Security Instrument is on a leasehold. F. ASSIGNMENT OF RENTS. Borrower unconditionally assigns and transfers 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 Lender'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 Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only. If lender gives notice of breach to Borrower: (i) all rents received by Borrower shall be held by Borrower as trustee for benrfit of Lender only, to be applied to the sums secured by the Security Instrument; (ii) Lender shall he 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 Lend= or Lender's agent on Lenders written demand to the tenant. Borrower has not executed any prior assignment of the rents and has not and will not perform any ax ::eat would preverit Lender from exercising its rights under this paragraph F. Leader shall not be required to enter upon, take control of (it mauAzin the Property before or after ga.: g notice of breach to Borrower. However. Lender or a ,judicially appointed recew.'r may do so at any time there is a *beach. Any applizrlion of rents shall not c,:;,Tc ot• waive any default car trhvalidate any other tigJ.l or remedy of Lend_. r i his assign. ment of cents of the Propel :r�t,'i terminate when the dent .secured by the Se::_rity Instrument is paid in full. G. CROSS•DEFAVLP PROVISION. Borrowers default or hreaoh urn r any note or agreement in which Lender has an interest shall be a breach under the Secwiew Instrument and Lender cost .-tike any of the remedies permitted by the Security Instrument. BY SIGNING BELOW. Burrower acc�;ae.� :itid agrees to the terms and provisions containe.� ,:;, ; -a F,:n y Ride, ,, •� '- :.a ............... .... .(Seal) C l es F. Lanae fiu•rT.1Cr ...(Seal) C -teen E. Lange ......................... (Seal) ......................... Borrower .....(Seal) Borr°•aer MULTIM7E 4.4 FAMILY RIDER — FAMit Matift"dtt Mu Unihrm tnttramant runt +;arm joss k�.rn)I4O •. +aooae,<dfvt�•.• -.� iaaoaaarrau 7 1 .1 • • �'�r� r r.• .. J W, S