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CONSTRUCTION LOAN RIDER
<br />TO SECURITY INSTRUMENT
<br />(INCLUDING SECURITY AGREEMENT)
<br />(To be attached to and recorded with this Security Instrument)
<br />201706169
<br />LOAN #: 16618
<br />THIS CONSTRUCTION LOAN RIDER TO SECURITY INSTRUMENT (this "Rider ") is made on
<br />September 8, 2017 and shall be deemed to amend and supplement the Mortgage,
<br />Deed of Trust or Security Deed of the same date, to which this Rider is attached ( "this Security Instrument "),
<br />given by the undersigned ( "Borrower") for the benefit of Pathway Bank, a Banking Corporation
<br />( "Lender") to secure Borrower's Note to Lender of the same date (the "Note ") and covering the property
<br />described in this Security Instrument (the "Property "). All terms defined in the Note and elsewhere in this
<br />Security Instrument shall have the same meaning in this Rider.
<br />IN ADDITION TO THE COVENANTS AND AGREEMENTS MADE IN THIS SECURITY INSTRUMENT,
<br />Borrower and Lender further covenant and agree as follows:
<br />1. Construction Loan Agreement. The Note evidences Borrower's promise to pay Lender the aggregate
<br />amount of all advances made and distributed by Lender under the terms and conditions of a Construction
<br />Loan Agreement between Lender and Borrower dated the same date as the Note (the "Loan Agreement ").
<br />The Loan Agreement provides for construction of certain improvements (the "Improvements ") on the Prop-
<br />erty. Borrower agrees to comply with the covenants and conditions of the Loan Agreement. This Security
<br />Instrument secures to Lender (a) the repayment of the debt evidenced by the Note, including the aggregate
<br />amount of all advances made by Lender from time to time under the terms of the Loan Agreement, with
<br />interest as provided in the Note, and all renewals, extensions, and modifications of the Note, (b) the perfor-
<br />mance of all of Borrower's covenants and agreements under the Note, this Security Instrument, the Loan
<br />Agreement and all other documents pertaining to the Loan (the "Loan Documents "), and (c) the payment
<br />of all other sums, with interest at the Note rate, advanced by Lender to protect the security of this Security
<br />Instrument, or to perform any of Borrower's obligations under the Loan Documents. Upon the failure of
<br />Borrower to keep and perform all the covenants, conditions and agreements of the Loan Agreement, the
<br />principal indebtedness and all interest and other charges provided for in the Loan Documents and secured
<br />hereby shall, at the option of the Lender, and subject to any right of Borrower to cure Borrower's default,
<br />become immediately due and payable in full.
<br />2. Future Advances. Provided there has been no default as defined in the Note, the Loan Agreement,
<br />or this Security Instrument, and provided Borrower has satisfied all conditions precedent required for an
<br />advance under the Loan Documents, Lender is legally obligated to make advances of principal upon
<br />application therefor by Borrower in accordance with the provisions of the Note and the Loan Agreement
<br />up to a maximum principal amount (including present and future obligations), which is equal to the amount
<br />of the Note as set forth in this Security Instrument, Such advances shall be evidenced by the Note, made
<br />under the terms of the Loan Agreement and secured by this Security Instrument and may occur for a period
<br />ending upon the Construction Completion Date, but in no event later than, the expiration of 12 months
<br />from the date of this Rider.
<br />3. Assignment of Rights or Claims. From time to time as Lender deems necessary to protect
<br />Lender's interest, Borrower shall, upon request of Lender, execute, acknowledge before a notary public,
<br />and deliver to Lender, assignments of any and all rights or claims which relate to the construction on
<br />the Property.
<br />4. Breach by Borrower. In case of breach by Borrower of the covenants and conditions of the Loan
<br />Agreement, subject to any right of Borrower to cure Borrower's default, Lender, at Lender's option, with or
<br />without entry upon the Property (a) may invoke any of the rights or remedies provided in the Loan Agree-
<br />ment, (b) may accelerate the sums secured by this Security Instrument and invoke any of the remedies
<br />provided in this Security Instrument, or (c) may do both. Lender's failure to exercise any of its rights and
<br />remedies at any one time shall not constitute a waiver by Lender of its right to exercise that right or remedy,
<br />or any other right or remedy, in the future.
<br />Nebraska - Construction Loan Rider to Security Instrument
<br />Ellie Mae, Inc. Page 1 of 3
<br />Initials.
<br />NECNSTORDU 0716
<br />GCNSTPRLU (CLS)
<br />09/07/2017 01:02 PM PST
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