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20240650,3
<br />LOAN #: 2855821
<br />CONSTRUCTION LOAN RIDER
<br />TO SECURITY INSTRUMENT
<br />(INCLUDING SECURITY AGREEMENT)
<br />(To be attached to and recorded with this Security Instrument)
<br />THIS CONSTRUCTION LOAN RIDER TO SECURITY INSTRUMENT (this "Rider") is made on
<br />December 19, 2024 and shall be deemed to amend and supplement the Mortgage, Deed of Trust
<br />or Security Deed of the same date, to which this Rider is attached ("this Security Instrument"), given by
<br />the undersigned ("Borrower") for the benefit of Five Points Bank, a Nebraska Corporation
<br />("Lender') to secure Borrower's Note to Lender of the same date (the "Note") and covering the property
<br />described in this Security Instrument (the "Property"). All terms defined in the Note and elsewhere in this
<br />Security Instrument shall have the same meaning in this Rider.
<br />IN ADDITION TO THE COVENANTS AND AGREEMENTS MADE IN THIS SECURITY INSTRUMENT,
<br />Borrower and Lender further covenant and agree as follows:
<br />1. Construction Loan Agreement. The Note evidences Borrower's promise to pay Lender the aggregate
<br />amount of all advances made and distributed by Lender under the terms and conditions of a Construction
<br />Loan Agreement between Lender and Borrower dated the same date as the Note (the "Loan Agree-
<br />ment"). The Loan Agreement provides for construction of certain improvements (the "Improvements") on
<br />the Property. Borrower agrees to comply with the covenants and conditions of the Loan Agreement. This
<br />Security Instrument secures to Lender (a) the repayment of the debt evidenced by the Note, including
<br />the aggregate amount of all advances made by Lender from time to time under the terms of the Loan
<br />Agreement, with interest as provided in the Note, and all renewals, extensions, and modifications of the
<br />Note, (b) the performance of all of Borrower's covenants and agreements under the Note, this Security
<br />Instrument, the Loan Agreement and all other documents pertaining to the Loan (the "Loan Documents"),
<br />and (c) the payment of all other sums, with interest at the Note rate, advanced by Lender to protect the
<br />security of this Security Instrument, or to perform any of Borrower's obligations under the Loan Documents.
<br />Upon the failure of Borrower to keep and perform all the covenants, conditions and agreements of the
<br />Loan Agreement, the principal indebtedness and all interest and other charges provided for in the Loan
<br />Documents and secured hereby shall, at the option of the Lender, and subject to any right of Borrower to
<br />cure Borrower's default, become immediately due and payable in full.
<br />2. Future Advances. Provided there has been, no default as definedin the. Note, the Loan Agreement,
<br />or this Security Instrument, and provided Borrower has satisfied all conditions precedent required for an
<br />advance under the Loan Documents, Lender is legally obligated to make advances of principal upon appli-
<br />cation therefor by Borrower in accordance with the provisions of the Note and the Loan Agreement up to a
<br />maximum principal amount (including present and future obligations), which is equal to the amount of the
<br />Note as set forth in this Security Instrument. Such advances shall be evidenced by the Note, made under
<br />the terms of the Loan Agreement and secured by this Security Instrument and may occur for a period
<br />ending upon the Construction Completion Date, but in no event later than, the expiration of 12 months
<br />from the date of this Rider.
<br />3. Assignment of Rights or Claims. From time to time as Lender deems necessary to protect Lender's
<br />interest, Borrower shall, upon request of Lender, execute, acknowledge before a notary public, and deliver
<br />to Lender, assignments of any and all rights or claims which relate to the construction on the Property.
<br />4. Breach by Borrower. In case of breach by Borrower of the covenants and conditions of the Loan
<br />Agreement, subject to any right of Borrower to cure Borrower's default, Lender, at Lender's option, with
<br />or without entry upon the Property (a) may invoke any of the rights or remedies provided in the Loan
<br />Agreement, (b) may accelerate the sums secured by this Security Instrument and invoke any of the
<br />remedies provided in this Security Instrument, or (c) may do both. Lender's failure to exercise any of its
<br />rights and remedies at any one time shall not constitute a waiver by Lender of its right to exercise that
<br />right or remedy, or any other right or remedy, in the future.
<br />Nebraska — Construction Loan Rider to Security Instrument
<br />ICE Mortgage Technology, Inc. Page 1 of 3
<br />NECNSTORDU 1017
<br />GCNSTPRLU (CLS)
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