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jkL8t'.10 3i58 14 FAMILY RIDER Aseipinmt of Rents THIS 1.4 VAM11.Y RIDER is made this 21st day of Juna . 19 89 ad is incorporated into trod shalt be deemed to amend and supplement the Mottgage, Deed of Trust or &c - -urity Deed (due "Scarcity 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 due stone date end covering the property described in the Security Instrument and located at: 416 West Avenue, Grand Island, Nebraska 68803 tt'roaenr Addrewl 1.4 FAMILY COVENANTS. In addition to the conweaants and agreements made in the Security Instrument. Borrower and Lander furdter covenant and agree as follows: A. USE OF PW)FERIT; COMPLIANCE WI'T`O 1AW. Borrvmvt shall not seek, agree ro wt: make a.. c utttge in the , use of the Property et its wa� ft classification, unless LcW�r has agreed in writing to the .charge;. $orrower sh r1 comply., with alt. laws, and_ requirements o€ an ov rnmental' bod ' Tile to the red y 8 S ]: �' W60e)" e. SLMej.WA +PA I�: S: Except �ks permitted by federal law, .liomower shall not altos+µ any lien inferior'ta the Security :ltntsukmw tQ� W peeeded against, the Ptoperty without Lt 's, prior written petmissiun. C. RENTi'LOSS INSURAN- CE. Borrower shall maintain insurance apinst'cert loss in addition, to the otlttr hazards for Qiich insunowe is requined'by Uniform Covenant S. D. •1110MWEWS RIGHT TO REINSTATE" DELETED. Unifimin Covenant 18 is dellewd. 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 right to modify, extend or terminate the existing leases and to execute new leases, in Lender's sole discretion. As used in 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 allithe rents and revenues of the - Property Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each 1 tenant of the Property to pay the rents to !.ender or Lender's agents. However. prior to Lender's Ndice to W"t — — — Bormweees beach of any covenant or agreement in the Security Instrument. Borrower shallicollect 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 assiptment and not an assignment for additional security only. If Leader gives notice of breach to Borrower: 0) all rents received by Borrower shall be held by Borrower as trustee for benefit of Lauder only, to be applied to the sums secured by the Security Instrument; til) Lender shall be entitled to oollect and receive all of the rents of the Property; and (iii) each tenant of the Property shallipay all rents due and unpaid 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 ,willi not perform any act that would prevent Lauder from exercising its rights under this paragraph F. Lender shall not be required to enter upon, take control of or maintain the Property before. or after giving notice of jbreach 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. of invalidate any other right or remedy of Lender. This assign- ment of rents of the Property shall terminate when the debt secured by, the Securfty Instrument is paid in full. G. CROS&DEFAULT PROVISION. Borrower's default or breach.under aay note or agreement in which Lender has 1.. an interest shall be a breach under the Secu:rz Instrument and Lender atra� invoke any of the remedies permitted by the Security Instrument. BY SIGNING BELOW. Borrower accepts and agrees to the terms and provisions contained in this 1-4 Family Rider. ......... .(Seal) Gar . �Vi/ala /seek -Borrower 9r! .. ................ .(Sea,) Mar G. Valasek Borrow1S^... ............................... .(Se�41x ........................... ........................... .(Seal) -8orA3W"_. WJ MMR w FAMtt.Y tt1 N -- rantµ OWF""W Mac tlaftm tnArwa�at Fflrn tY ,W) FORM WD tO85 1 a044e" M F.P. ar,v, I sw-xs&l