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j 89-- 164662 1-4 FAMILY RIDER AmOpmmt at Rents THIS 1.4 FAMILY RIM is made this 2nd day of August . 1989 rand is bmpwftd info and shall be deemed to amend and supplement the Mortgage. Deed of Trust or Security Deed (Rho "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 (the "Lender") of the same dab and covering the property described in the Security Instrument and located at: 1414 North Locust, Grand Island, Nebraska 68801 (Poa•rty Addtsssl 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 PROPER'T'Y; COMPLIANCE WITH LAW. Borrower shall not seek, agree to or make a change in the use of the Property or its zoning classification, unless Lender has agreed in writing to the change. Borrower shall comply with all laws, ordinances, regulations and requirements of any governmental body applicable to the Property. D. 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 maintain insurance against rent loss io Wdition to the other hazards for which insure= is required by Uniform Covenant 5. D. "BORROWER'S RIGHT TO REINSTATE" DELETED. Uniform Covenant 18 is deleted. t L ASSIGNMENT OF LEASES. Upon Lender's inquest, Borrower shall assign to Lender all leases of the Property s and all security deposits made in connection with leases of the, Property. Upon the assignment. Lender shall have the i right to modify, extend or terminate the existing leases and to exemw new leases, in Lender's sole discretion. As used in this paragraph E. the word "lease" shall mean "sublease" if die Security Instrument is on a leasehold. . E AMC- Iv*.m_ W-1 OF py-N'!'- Be :o._e: uncordi iorrll, :.win b wand tissrfers to :.°^a...� wall Lk-- rte•« wand rrrx• — of the Property. Borrower authorizes l er a or Lender's agents to collect the rents and revenues and bereby directs each tenant of the Property to pay the rents tin 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 shalt Collect ated receive all rents and revenues of the Property as trustee for the benefit of Lender and Borrower. This assignment of rems constitutes an absolute assignment and nee an assignment for additional security only. If Lender gives notice of breach to Borrower: (i) all rents re eiMed by Borrower shall be held by Borrower as trustee for benefit of Tender only, to be applied to the sums secured by dw 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. 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 shall not be required to enter upon, take control. of ,or maintain the Property:bcbxe 'orafter giving notice of r breach to Borrower. However, Lender or a judicially, appointed; receiver may do so at any time their: is a breach. Any -- -- application of rents shall not cure or waive any default or invalidate any other right or remedy of Linder. This assign- ment of rents of the Property shall terminate when. the debt secured by the Security Instrument is paid in full. G. CROSS- DEFAULT PROVISION.. Gorr ower'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 iif 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. ebaiiiS ... . .......................... .(Seal) y � M. ensen -Borrower '�. .......... ............................... .(Seal) Kermit Jensen Borroww I ............................ ............................ (Seal) .. ............................... ................. .. .(Seal) L. '•8orrowar t AMM $4 t^ IKY WER — t @*0 t!!!*W& t" Up t m *Ommeod FO RM stxa 1"5 Form r/90 *, PA u-Jer Cal G,eat i se en Ekx:r %, I w* r.- FQI J