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14 FAMILY RIDER Asdpment of Rents 90.._. lOC 740 IRIS 14 FAMILY RIDER is made this 17thlay of November .19 90 wd is inompomted into and shall be deemed to amend and supplement the Mortgage. Deed of Trust or Security Deed (do "Security Instrument ") of the same date given by the undersigned (the "Borrower ") to secure Bormwer's Note to The Equitable Building and Loan Association, Grand Island, Nebraska (the "Lender ") of the same bate and covering the property described in the Security Instrument and located at: 257 South Kimball, Grand Island, Nebraska 68801 IftpenY Adaressi 14 FAMILY COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower turd Leader further covenant and agree as follows: A. USE OF PROPERTY; COMPLIANCE «Ti l LAR.. Borrower shall not seek, Tmv to or make a chanfe 4n, the use of *e Lnerty,m urns zoning classificw.&vs, ranrvss Leader has aSoe..E in vir t;am_r_ its the change nYrTk• wiati ;90 Wq, oTdd!naPZ..& and Tequit -4, cats (4 an) applieWe t"* the rraiszmt}•. D. SOY�fitWATE 11 I11�NS.'Exo.�' as jenn'ii W IbF f�rJ9 law. 8,=�uer ;hall ;v7t a!ir, w .anL lien Iry ;-i�T t� oee Secvri!t} Insuuarner,.e oa 'be penww -J aea tin the Praipt:M 1V.0,71 6Z Landers pnar o rtt:,a tx7rnrtssi �7r,. C. FiIE'MT LQ&$ LNSURANCE. Bormi, m :Yttgl ma niain insurance kainst mnt rase lir au -Id+13„2 "Do 4-1her hazar3h, for which insu.Twce is required by Unifrrr Q' Vnartt 4 D. `•BORLitC%MVS RiGHT TO A1FjN14.;ZI'ATE" DELETED. Unifom Covenant 18 is deleted. E. ASSIGNMEff OF LEASES. Uprat Lenders 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 Lenders sole discretion. As used in this paragraph E, the word "lease" shall mean "subieaw" if the Security Instrument is on a leasehold. F. ASSIGNMENT OF RENTS. Borrower unconditionally a.signs and transfers it, 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 tir Lender's agents. However. prior to l.cnder's Nottcc to Borrowet of Borrower's breach of any covenant or agreement in the Sccunty Instmment, Borrower shall collect and receive all rents and revenues of the Property as trustee for the henctit of l.endcr and Borrower. This assignmcm of rents constitutes an absolute assignment and not an assignment for additional %ccuril) only. If Lender gives notice of breach to Borrower: lit all rents received by Borrower %hall tit., held by Borrower as trustee for benefit of Lender only, to he, applied to the sums secured by the Security Instrument; iii) Lender .hall he 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 mot executed any prior assignment of the rents and has not and will not perform any act that would prevent Lender from exercisxtg its rights under this paragraph F. Leader shall afar be requEred to enter upon. take control of or maintain the Property before ar after giving notice of breach to Borrower. However. Lender or a judicially appointed receiver may do so at any time there is a breach. Arsy application of rents shall not ,-.cto; or waive any default tit invalidate any tither right or remedy of Lender. This assign- ment of rents of the Property: shall terminate when the debt secured by the Security Instrument is paid in full. G. CROSS- 1DIEFAULT PROVESION. Borrower's default or breach under any note or agreement in which Lender has an interest shatt be a breach under the Security instrument and Lender may invoke any of the remedies permitted by the Security Instmment. BY SrCNrNG BELOW. Borrower accepts and agrees to the terms and provision contained in this 1.4 Family Rider. .. .. /. --.' ........ Josephine R. Schiman 3o "'N e` ...... ..iSeab ........................iSeal) Borrower . ... . ..... .........................($Cal) -Borrower SOMME u sorry Rillit -rinse ma2fmddie ma unifatrr, -In 1namini..• I_S.m 17140 is I . -JA's •! : '�.. "'r'c�l: