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r i � r 1.4 FAMILY RIDER 89- 1040815 Assignment of Fonts THIS 1-4 FAMILY RIDER is wale this28th day of July .19 89 , and In hK*gM eased ialo and shall be deemed to amend and supplement the 1 cmange. Deed of Trust or Security Deed (the "Sewdly Wsaument ") of the same date given by the undersigned (the "Borrower ") to secure Borrower's Ne!e 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: 2320 West First Street, Grand Island, Nebraska 68801 t"ny Address] 1.4 FAMILY COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Bansower and Larder further covenant and agree as follows: A. USE OF PROPERTY; COMPLIANCE WTTH LAW. Borrower shall: not seek, age.- to or use. a cha* in the am 44 the Property or its zoning classification, unless Lender has agreed in wtrJij"ig to the, air. itge: i3. ever shall copply A all laws. ordinances,, regulations and requirenwrits of any governmental ; pody applic4ble to fire Property. �. . B. SUBORDINATE LIENS. Except as permitted by federal law, Borrower shall ne; allow any lien inferior` to the Security Instrument to be perfected against the Property without Lender's prior written powission. C. RENT LOSS INSURANCE. Borrower shall maintain insurance against, rent toss im addition to the other hazards for which insurance is required by Uniform Covenant S. D. ')BORROWER'S RIGHT TO REINSTATE' DELETED. Uniform Covenant 18 is deleted. T. ASSIGNMENT OF LEASES. Upon Lenders request. Borrower shall assign to Lender all leases of the Property an& 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 in this psnWaph E. the word "lease" shall mean "sublease" if the Security Instrument is on a leasehold. C. AWR(ilVMENT ll')t`' ASSTS. 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 brch 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 benefit 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).xach�tenant of the Property shall pay all rents due and unpaid to Leader 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 pmvent Lender from exercising its rights under fiili prsagraph F Lender shall not be required to enter upon,. take• control of or maintain. die Property ix'fore or after giving notice of breach to Borrower. However, Lender or a judicially appointed receiver may do so at'ary time there is a breach. Any application of rents shall not cure or waive any default or invalidate any other right or remedy of [ender. This assign- meat of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full. G. CROSS-DEFAULT PROVISION-. Borrowers 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, Borrower accepts and agrecs to the t s and provisions contained in this 1-4 Family Rider. l! !..... .... ... (Seal) n auly - Borrower v •4 A(�la ene I . :Bo5orwe ) ....................... .......... ..................... .(Seal) .Borrower ....................... ............................... .(Seal) - sorrowo Mit1JIVATE 1-4 FAMLY tttM — FmW ebaTrOlis On L%Wwm rnstromM V-79adtD141 FORM 3170 10.85 Rccr3er CM Great Lacs &zress gar+ , 4r 14100-2153-01M M�Nqw. 14100-33046M i MR 7 1-