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0110145508
<br /> Prepared by: 1-4 FAMILY RIDER
<br /> First Federal Lincoln 99���t�a��
<br /> Assignment of Rents
<br /> THIS 1-4 FAMILY RIDER is made this 211d day of Aqril
<br /> incorporated into and shail be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the �S 999ty Instrumend;s
<br /> of the same date given by the undersigned (the"Borrower") to secure Borrower's Note to
<br /> First Federal Lincoln Bank
<br /> (the"Lender") of the same date and covering the Property described in the Security Instrument and located at:
<br /> 2020 WEST 1ST STREET GRAND ISLAND NEBRASKA 68803
<br /> [Property Address]
<br /> 1-4 FAMILY COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender
<br /> further covenant and agree as tollows:
<br /> A.ADDITIONAL PROPERTY SUBJECT TO THE SECURITY INSTRUMENT. In addition to the Property described in
<br /> the Security Instrument, the following items are added to the Property description, and shall also constitute the Property covered by the
<br /> Security Instrument: building materials, appliances and goods of every nature whatsoever now or hereafter located in, on, or used, or intended
<br /> to be used in connection with the Property, including, but not limited to, those for the purposes of supplying or distributing heating, cooling,
<br /> electricity, gas, water, air and light, fire prevention and extinguishing apparatus, security and access control apparatus, plumbing, bath tubs,
<br /> water heaters, water closets, sinks, ranges, stoves, refrigerators, dishwashers, disposals, washers, dryers, awnings, storm windows, storm doors,
<br /> screens, blinds, shades, curtains and curtain rods, attached mirrors, cabinets, panelling and attached floor coverings now or hereafter attached
<br /> to the Property, all of which, including replacements and additions thereto, shall be deemed to be and remain a part of the Property covered by
<br /> the Security Instrument. All of the foregoing together with the Property described in the Security Instrument (or the leasehold estate if the
<br /> Security Instrument is on a leasehold) are referred to in this 1-4 Family Rider and the Security Instrument as the "Property".
<br /> B. USE OF PROPERTY; COMPLIANCE WITH LAW. Borrower shall not seek, agree to or make a change in the use of the
<br /> Property or its zoning classification, unless Lender has agreed in writing to the change. Borrower shall comply with all laws, ordinances,
<br /> regulations and requirements of any governmental body applicable to the Property.
<br /> C. SUBORDINATE LIENS. Except as permitted by federal law, Borrower shall not allow any lien inferior to the Security
<br /> Instrument to be perfected against the Property without Lender's prior written permission.
<br /> D. RENT LOSS INSURANCE. Borrower shall maintain insurance against rent loss in addition to the other hazards for which
<br /> insurance is required by Uniform Covenant 5.
<br /> E. "BORROWER'S RIGHT TO REINSTATE"DELETED. uniform Covenant 1 s is deleted.
<br /> F. BORROWER'S �CCUPANCY. Unless Lender and Borrower otherwise agree in writing, the tirst sentence in Uniform
<br /> Covenant 6 concerning Borrower's occupancy of the Property is deleted. All remaining covenants and agreements set forth in Uniform
<br /> Covenant 6 shall remain in effect.
<br /> Ca.ASSIGNMENT OF LEASES. Upon Lender's request, Borrower shall assign to Lender all leases of the Property and all
<br /> security deposits made in connection with leases of the Property. Upon the assignment, Lender shall have the right to modify, extend or
<br /> terminate the existing leases and to execute new leases, in Lender's sole discretion. As used in this paragraph G, the word "lease" shall
<br /> mean "sublease" if the Sacurity Instrument is on a leasehold.
<br /> H.ASSIGNMENT OF RENTS;APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. Borrower abso�utely and
<br /> unconditionally assigns and transfers to Lender all the rents and revenues ("Rents") of the Property, regardless of to whom the Rents of the
<br /> Property are payable. Borrower authorizes Lender or Lender's agents to collect the Rents, and agrees that each tenant of the Property
<br /> shall pay the Rents to Lender or Lender's agents. However, Borrower shall receive the Rents until (i) Lender has given Borrower notice of
<br /> default pursuant to paragraph 21 of the Security Instrument and (ii) Lender has given notice to the tenant(s) that the Rents are to be paid
<br /> to Lender or Lender's agent. This assignment of Rents constitutes an absolute assignment and not an assignment for additional security only.
<br /> If Lender gives notice of breach to Borrower: (i) all Rents received by Borrower shall be held by Borrower as trustee for the benefit of
<br /> 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
<br /> of the Property; (iii) Borrower agrees that each tenant of the Property shall pay all Rents due and unpaid to Lender or Lender's agents
<br /> upon Lender's written demand to the tenant; (iv) unless applicable law provides otherwise, all Rents collected by Lender or Lender's agents
<br /> shall be applied first to the costs of taking control of and managing the Property and co�lecting the Rents, including, but not limited to,
<br /> attorney's fees, receiver's fees, premiums on receiver's bonds, repair and maintenance costs, insurance premiums, taxes, assessments and other
<br /> charges on the Property, and then to the sums secured by the Security Instrument; (v) Lender, Lender's agents or any judicially appointed
<br /> receiver shall be liable to account for only those Rents actually received; and (vi) Lender shall be entitled to have a receiver appointed
<br /> to take possession of and manage the Property and collect the Rents and profits derived from the Property without any showing as to the
<br /> inadequacy of the Property as security.
<br /> If the Rents of the Property are not sufficient to cover the costs of taking control of and managing the Property and of collecting the Rents
<br /> any funds expended by Lender for such purposes shall become indebtedness of Borrower to Lender secured by the Security Instrument pursuant
<br /> to Uniform Covenant 7.
<br /> Borrower represents and warrants that Borrower has not executed any prior assignment of the Rents and has not and will not perform any
<br /> act that would prevent Lender from exercising its rights under this paragraph.
<br /> MULTISTATE 1-4 FAMILY RIDER-Fannie Mae/Freddie Mac Uniform Instrument � �1 �
<br /> Form 3170 9/90
<br /> AOR.frm(7/961
<br /> page 1 of 2
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