202403013 - Laserfiche WebLink

Browse

202403013 GRAND BANK FOR SAVINGS, FSB RIDER TO MORTGAGE This RIDER is made 6/28/2024 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, Credit Sale, Security Deed and/or Security Agreement (individually and collectively the "Security Instrument") of the same date given by the undersigned BETHUEL AGUIRRE CALDERON, and KENA GABRIELA MORALES LOZANO ("Borrower") to secure Borrower' s Note (the "Note") in the original amount of $185,000.00 to Grand Bank for Savings, fsb, ("Lender") of the same date and covering the property (the "Property") described in the Security Instrument as follows: PROPERTY LOCATED AT: 4338 THOMAS ST GRAND ISLAND, NE 68803 In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. USE OF PROPERTY; 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 federal, state and local governmental and other restrictive covenants and laws, ordinances, regulations and requirements which apply or govern the use or condition of the Property. B. 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 consent. C. RENT LOSS INSURANCE. In the event the Property is utilized as rental property, Borrower shall maintain insurance against rent loss in addition to the other hazards for which insurance is required by Uniform Covenant 5 of the Deed of Trust. D. ASSIGNMENT OF LEASES. Borrower agrees that Lender may at any time, in Lender' s sole discretion, with or without Borrower' s default in connection with the Security Agreement or related loan documents, demand that Borrower execute documents and take other actions necessary to effectuate the assignment to Lender of any and all lease and/or rental agreements (— Leases") of the Property and all security deposits and pre -paid lease/rent payments made in connection therewith. Each Lease shall contain provisions expressly granting Borrower the right to assign the Leases to Lender, and providing that, immediately upon such assignment, Lender shall have the right to modify, extend or terminate the existing Leases and to execute new Leases, in Lender' s sole discretion. As used in this Rider, the words — lease"and Lease"shall mean any and all - sub -leases" if the Security Instrument is on a leasehold. E. ASSIGNMENT OF RENTS. Borrower unconditionally assigns and transfers to Lender any and all rent/lease payments, revenues, and/or proceeds from the Leases (the — Rents"). Borrower shall collect and receive all Rents 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. Provided, however, that upon Lender' s written notice to Borrower, Borrower hereby unconditionally and absolutely grants Lender, at any time and in Lender' s sole discretion, with or without Borrower' s default in connection with the Security Agreement or related loan documents, the right to contact each tenant subject to any Lease and to collect from all such tenants all Rents. Lender shall not be required to enter upon, take control of or maintain the Property before or after Grand Bank Rider IDS, Inc. - 95729 Page 1 of 4 1'L IF 1 1