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1-4 FAMILY RIDER Assignment of Rents sr. �..�. 9- 102217 THIS 1-4 FAMILY RIDER is made this 25th day of April , 19 89 and is incorporated into and sball be deemed to amend and supplement the Mortgage. Deed of Trust or Security Deed Vhc "Security 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 (thW' nder") of the same date znd covering the property described in the Security E-strument and located at: f 1920 -22 North Sheridan Street, Grand Island, Nebraska 68803 [Property Address; 14 FAMILY COVENANTS. in addition to the :ovenants 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 classificatiow. unless Lender has agreed in writing to the change. Borrower shall comply ,,vith all laws, ordinances, regulations and requirements of any governmental body applicable h 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 maiwain insurance against rent loss in addition to," the other hazards for which insurance is required by Unifomi Covenant S. D. "BORROWER'S RIGHT TO REINSTATE" DELE=TED. Uniform Covenant 18 is deleted. � z S. ASSIGNMENT OF LEASES. Ulxm Lender's request, Borrower shall assign to Lender all leases of the Property and all security deposits made in connection with leases of the Proparty. Upon the assignment, Lender shall I;ave the right to modify, extend or terminate the existing leases and to execute new leases, in Lender's sole discretion. As used in this lamgraph 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 'he 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 !ender 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 bcnet',t of Lender only, to be applied to the sums secured by the 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 Tents due and unpai=d to Lender or Lender's agent on Lender's written demand to the tenant. Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent Lender from exercising its rights under this paragraph F. Lender ::hall not be required to enter upon, take control of or maintain the Proper} before or af.er 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 cure or waive any default or invalidate any other right or remedy of L °rider. This assign - mrnt of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full. G. CROSS - DEFAULT PROVISION. Borrower's default or breach under any note or agreement in which Lender has an interest shall be a breach under the Security Instrument and Lender may invoke any of the remedies permitted by the Security Instrument. BY SIGNING BELOW. Bcrrower accepts and agrees to the terms and provisions contained in this 1-4 Family Rider. C N.C1�` -- tom ...................... ..Seal) arold 4JIC rist Bo•rower ...................(Seal) Burdean A. Christ Bo,,owe, ............................... .........................(Seal) - Borrower d ..(Seal) 1 -Borrower WILTISTATE 1-4 FAMILY RIDER — Fannie MatuFreddle Mac Uniform Instrument FORM 3170 10-85 To rkvaer Cal Grest Lnkn nu .% 1*r rc F{xm 1790 NW ty 1. 800.253 -0208 Mchp 1- 830 - 358.2843