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1-4 F�MILY R{DER
<br /> (Assignment of Rents) :
<br /> THIS t-4 FAMILY i�IDER is made thfs 11th day of "' .18�V8ry , 1999� and is incorporflted hto anC shali be
<br /> deemed to amend and supp�ement the Mortgage, Deed of Tnist or Security Deed (tha "Security Instrument") of the same date given by
<br /> the undersigned (the 'BoROwer") to secure Borrowei's rvoce ro The Ov�rland National Bank of Grand Island
<br /> (the "Lender")
<br /> of tna same date and covering the Property descrbad in the 5ecurity Instrumer,t an� bcated at:
<br /> _ 300-3D6 W. Ecaypt 5treet Cairo NE 68824
<br /> �Proyrrty Addrnes� -
<br /> 1-4 FAMILY COVEPiANTS. In additian to the covenants and agresments m,ade in the Security Instr'�ument, eorcower and Lende�
<br /> further covenant and agree as failows:
<br /> A. ADDITIONAL PROPERTY S�BJECT TO THE SECURITY INSTRUMENY. In addkbn to the Property descrbed
<br /> in the Security Instrument, the ta!lowing kems are added to the Property dF±scr�tion, end shall also constftute the Property covered by the
<br /> Security Instrument: buiiding materials, appliances and goods of e�^�y nature whstsoever now or hereafter bceted 'n, on, or used, or
<br /> intendad to ba used in connectbn wiih ths Property, inF��;ng, but not 6mited to, lhose for the purposes oI supplying or distrd�uting
<br /> heafing, caol;ng, eiecVicky, �as, wnter, air and fight, fire prev�tion and extinguishhg apparatus, security and access control apparetus,
<br /> plurr�bing, bath tubs, water heaters, water clos�ts, sa�ks, rangbs, stove,s, re'rgerators, dishwashers, d}sp�sais, washers, dryors, ewnings,
<br /> storm w�do�vs, stcrm doors, scr�ens, blinds, shades, curtains and curtain rods, attached mirrors, cabinets, paneiling and attached tbor
<br /> coverings now or herea!ter attached to tho Property, sil of which, G�cfud�g repiacements a�d addRbns thereto, shalt be desmed to be
<br /> and remain a pa:t of the Property covered by the Securky instrurrsent. All ct the foregohg together wRh the Property descr�ed in the
<br /> Security Instrument (�r the leasehoid estats if the Sacurity Instrument is on a leasehold) ara referted to in thls 1-4� Famiy R�der and the
<br /> Security Insirument as the "Property".
<br /> B. USE OF PF30PERTY: COIVIPLIAld�E WITH LA1N. eorrower shall not seek, agree to or make a change in the use of � ,_
<br /> the Property or ds zoning classification, unfess Lender has agreed in writing to the change. BoROwer shail compiy wkh a!I laws,
<br /> oidinances, regulations and requ'vements of any govemmer�tai body applicabb to the Property. �
<br /> C. SUBORDINA7E LIENS. ��cePt as pertnitteQ by federal law, Borrower shall not albw any iien inferior to the SecurRy
<br /> Instrumen, to be pe�tected against the Property without Ler.der's arior writtsn permission.
<br /> Q. R�NT LOSS INSURAPICE. eorcower shall maintsv� insurnnce against rent loss in addition to the other hazards for which
<br /> �nsurance is requked by Un'rform Covenant 5.
<br /> E. "BQRROWEFi'S CaiGF1T TO REIMST/�TE" [�ELE7ED. Un�form Covenant te is deleted.
<br /> F. BORROWER'� OCCUF'APJCY. Unless Lender and Borrower otherwise agree in writing, the first santence in U�itorm
<br /> Covenant 6 conceminfl Borrower's occupancy of the Property is deleted. Ail remaining co•�enants end agr9ements set forth in Uniform
<br /> Co�enant 6 shal� remain in eHect. �\
<br /> -��x
<br /> G. ASS�IG�IMEPJ?' OF LEASES. Upon Lender's request, Borrowor shau assgn to Lender all leases ot the Property and ail •��
<br /> securfty depos�ts made in connection wRh leases of the Prop�rty. Upon the assignment, Lender shall have the rght to modity, extand or �
<br /> teminate the existing leases and to ettecute new leases, in Lenders sole discretion. As used � th�; paragraph G, the word "lease" �
<br /> shail mean "sub�ease" if the Security Instrument is on a leasehold. Q
<br /> H. ASSIGNMEN7' OF RE?dT�s; APPC)INT'MENT OF RECEiVER; LENDEFi iN PC3SSESSION. 9onower ebsolutery �
<br /> and unconditionally assgns and t�ansfers to Lendeir all the rents and revenues ("Rents") of the Property, regardiess of to whom the RentS �
<br /> oi the Proper±y 3ra payable. Borrower author'¢es Lender or Lender's ager!- to coliect the Ren4s, and agrees that each tsnant of the A�
<br /> Proparty shati pay the Rents to Lender or Lenders agents. However, BorrowPr shall receive the Rents until (i) Lender has given Bortower �
<br /> notice of defauft pursuant to paragraph 21 of the 5ecurRy instn:ment and (li; Lender has given notice to the tenant(s) that tha Rents are
<br /> to be paid to Lender or Lender's agent. This nssignment of Rents constitutes an absolute assignment and not en sssignment for
<br /> additional security only. '
<br /> If Lender gives notice of breach to 6onowor. (i) al! Rents receNed by Borcower shal! be held by Borrower as trustee for the benefit of
<br /> Lender only, to be applied to the sums secured b�i the Security Instrument; (ii} Lender shall be entRled to collect and receive all ot the
<br /> Ps�ts ef the Property; (fii) BoROwer agrses that eacn tenant of the Property shail pay ai! Rants due ond unpaid to Lender or Lender's
<br /> agents upon Lender's wr,tten demand to the teneint; (iv) unless applicabie law provides othenvise, ali Rents ccllected by Lender or
<br /> Lender's agents shal( t+e 2ppl'red first to the costs ci! taking control ot and managing tha Property and colle^ting the Rents, �cluding, but
<br /> not limited to, attomey's fees, receivers fees, premfums o� receivers bonds; repair and maintenance costs, insurance premiums, taxes,
<br /> assessments and othar charges on the Property, and then to the sums secured by the Securky Instrument (v) Lender, Len�er's agents
<br /> or eny judicially appointed receiver shali be liabb to sccount tor only those Rents actualH reCeived; and (vi) Lender shett be entAled to '
<br /> have a receiver �ppainted to take possession o! and msnage the Prooerty and coliect the R9nts and profks derived hom the Property
<br /> withcut any showinA as to the inadequacy ot ths Fropbrty as securky.
<br /> If the Rents of the °roperty are not sufficient to cover the ccsts of taking control ot and managing the Property and o( collecting the '
<br /> Fients any funds e:�erided by Lender for such purposes ShaM become ndebtedness of Sorrowsr to Lender secured by the Security
<br /> Instrument pursuant to Uniform Covenant 7.
<br /> Borrower repressnts and warrants that Borrower has not executed any prior assignment of the Rents and has not and will not '
<br /> pertorm any act that would prevent lender from exercising its rights under this paragraph.
<br /> Lender, or Lender; ggents or a judicially appointed recefver, ,hail nut be requ'red to enter upon, take control ot or maintain the
<br /> Property before or aftar giving �otbe of defauft to Borrower. Huwever, Lender, or Lenders egents or a Judicially appohted recsNer, may '
<br /> do so at any time when a defauk occurs. My appl�aYson of Rents shall not cure or waive any detauR or invalidatu any �ther rght or '
<br /> remedy of Lender. This assgnmerst of Rents of the t�roperty shatl termhete when aA the sums seCUred by the Security Instrument an'�
<br /> paid k� h�IL
<br /> 6. CROSS-DEFAULT PROVISION. BoROwers defauk or breach under any note or agreeme�t in which Lender hes an '
<br /> interest shali be e breach under the Security Instrument and 1_er,der may invoke any or the remedies pertnkted by the Security Instrument.
<br /> BY SIGNING BELOW, F]orrower accepts and agreas to the terms and provisi�ns containad fn this 1-4 Family Rider.
<br /> �''G` ��>�c2'3!�c�L
<br /> B�«�w•� Ga Eilenstine —(�eaq
<br /> l ///,7'/7�/1� ( j`/��/�l n�� ,
<br /> «ew.� Linda �i g t(ne —����
<br /> d (Soai.l
<br /> 9onow.i
<br /> Bor;owN -.--iJ98�� � •... � _
<br /> MULTISTATE 1-4 FAMILY RIDEA- Fannie Mao/Froddie Mac UnHorm Instrument '
<br /> F:�az.�r�a�e�c�) Fortn 3170 9/90
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