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Assignment of Rents Rider 2 0 01 1 2 2 4 5
<br />This RIDER is made this 28th day of November 2001 , and is incorporated into and
<br />shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrument ") of the same
<br />date given by the undersigned (the "Borrower ") to secure Borrower's Note to United Nebraska Bank
<br />(the "Lender ") of the same date and covering the Property described in the
<br />Security Instrument and located at:
<br />1004 S. Eugene Grand Island, NE 68801
<br />[Property Address)
<br />COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further
<br />covenant and agree as follows:
<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
<br />the Security Instrument: building materials, appliances and goods of every nature whatsoever now or hereafter located in, on or
<br />used, or intended to be used in connection with the Property, including, but not limited to, those for the purposes of supplying or
<br />distributing heating, cooling, electricity, gas, water, air and light, fire prevention and extinguishing apparatus, security and access
<br />control apparatus, plumbing, bath tubs, water heaters, water closets, sinks, ranges, stoves, refrigerators, dishwashers, disposals,
<br />washers, dryers, awnings, storm windows, storm doors, screens, blinds, shades, curtains and curtain rods, attached mirrors, cabinets,
<br />panelling and attached floor coverings now or hereafter attached to the Property, all of which, including replacements and additions
<br />thereto, shall be deemed to be and remain a part of the Property covered by the Security Instrument. All of the foregoing together
<br />with the Property described in the Security Instrument (or the leasehold estate if the Security Instrument is on a leasehold) are
<br />referred to in the Assignment of Rents 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,
<br />ordinances, regulations and requirements of any government body applicable to the Property.
<br />C. SUBORDINATE LIENS. Except as permitted by federal law, Borrower shall not allow any lien interior 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 18 is deleted.
<br />F. BORROWER'S OCCUPANCY. Unless Lender and Borrower otherwise agree in writing, the first sentence in Uniform
<br />Covenant 6 concerning Borrower's occupancy of the Property is deleted. All remaining covenants and agreements set forth in
<br />Uniform Covenant 6 shall remain in effect.
<br />G. 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,
<br />extend or terminate the existing leases and to execute new leases. In Lender's sole discretion. As used in this paragraph G, the
<br />word "lease" shall mean "sublease" if the Security Instrument is on a leasehold.
<br />H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. Borrower absolutely and
<br />unconditionally assigns and transfers to Lender all the rents and revenues ( "Rents ") of the Property, regardless of to whom the
<br />Rents of the Property are payable. Borrower authorizes Lender or Lender's agents to collect the Rents, and agrees that each tenant
<br />of the Property shall pay the Rents to Lender or Lender's agents. However, Borrower shall receive the Rents until (i) Lender has
<br />given Borrower notice of default pursuant to paragraph 21 of the Security Instrument and (ii) Lender has given notice to the
<br />tenant(s) that the Rents are to be paid to Lender or Lender's agent. This assignment of Rents constitutes an absolute assignment and
<br />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
<br />benefit of Lender only, to be applied to the sums secured by the Security Instrument; (ii) Lender shall be entitled to collect and
<br />receive all of the Rents of the Property; (iii) Borrower agrees that each tenant of the Property shall pay all Rents due and unpaid to
<br />Lender or Lender's agents upon Lender's written demand to the tenant; (iv) unless applicable law provides otherwise, all Rents
<br />collected by Lender or Lender's agents shall be applied first to the costs of taking control of and managing the Property and
<br />collecting the Rents, including, but not limited to, attorneys fees, receiver's fees, premiums on receiver's bonds, repair and
<br />maintenance costs, insurance premiums, taxes, assessments and other charges on the Property, and then to the sums secured by the
<br />Security Instrument; (v) Lender, Lender's agents or any judicially appointed requester shall liable to account for only those Rents
<br />actually received; and (vi) Lender shall be entitled to have a receiver appointed to take possession of and manage the Property and
<br />shall collect the Rents and profits derived from the Property without any showing as to the 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
<br />the Rents any funds expended by Lender for such purposes shall become indebtedness of Borrower to Lender secured by the
<br />Security Instrument pursuant 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
<br />perform any act that would prevent Lender from exercising its rights under this paragraph.
<br />Lender, or Lender's agents or a judicially appointed receiver, shall not be required to enter upon, take control of or maintain the
<br />Property before or after giving notice of default to Borrower. However, Lender, or Lender's agents or a judicially appointed
<br />receiver, may do so at any time when a default occurs. Any application of Rents shall not cure or waive any default or invalidate
<br />any other right or remedy of Lender. This assignment of Rents of the Property shall terminate when all the sums secured by the
<br />Security Instrument are paid in full.
<br />I. CROSS - DEFAULT PROVISION. Borrower's default or breach under any note or agreement in which Lender has an interest
<br />shall be a breach under the Security Instrument and Lender may invoke any of the remedies permitted by the Security Instrument.
<br />BY SIGNING BELOW, Borrower accepts and agrees to the terms and rovviiissiions contained in this Assignment of Rents Rider.
<br />(Seal)
<br />orr erLinda F. Addison
<br />©� (Seal)
<br />L,7er Larr G. Addison
<br />(Seal)
<br />Borrower
<br />(Seal)
<br />Borrower
<br />3691.CT Plus (8/98) GI1228
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