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_ 1-4 FAMILY RIDER 9 9 10 915 4 Assignment of Rents THIS 1-4 FAMILY RIDER is made this lOthday of . . . . .Se.ptemb�r. . . . . . . . . . . . . . . . . . . . . . . . 19 .99. , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the :'Security Instrument") of the same date given by the undersigned (the "Bo�rower") to secure Borrower's Note to . . Fi.ve, Poi nts, .Bank. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (the �•L.ender"� of the same date and covering the property described in the Security Instrument and located at: 912-914 W. lst Street, Grand Island, Nebraska 68801 .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ►Property AddressJ 1-4 FAMILY COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and L.ender 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 L,ender has agreed in writing to the change. Botrower shall comply with all laws, ordinances, regulations and requirements of any governmental body applicable to the Ptoperty. 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 permission. C. RENT LOSS INSURANCE. Borrower shall maintain insurance against rent loss in addition to the other hazards for which insurance is reyuired by Uniform Covenant 5. D. `•BORROWER'S RIGHT TO REINSTATE" DELETED. Unifonn Covenant 18 is deleted. E. ASSIGNMENT OF LEASES. Upon Lender's request, Borrower shall assign to Lender all leases of the Property and all security deposits made in connection with leases of the Property. Upon the assignment, L.ender 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 paragraph E, the word "lease" shall mean "sublease" if the Security Instrument is on a leasehold. F. ASSIGNMENT OF RENTS. Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the Property to pay the rents to L.ender or Lender's agents. However, prior to Lender's Notice to Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property 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. If I.ender gives notice of breach to Borrower: (i) all rents received by Borrower shall be held by Borrower as wstee for benefit of 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 of the Property; and (iii) each tenant of the Property shall pay all rents due and unpaid to the Lender or Lender's agent on Lender's written demand to the tenant. Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent L.ender from exercising its rights under this paragraph F. L.ender shall not be required to enter upon, take control of or maintain the PropeRy before or after giving notice of breach to Borrower. However, L.ender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents shall not cure or waive any default or invalidate any other right or remedy of L.ender. This assign- ment of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full. G. CROSS-DEFAULT PROVISION. Borrower's default or breach under any note or agreement in which Lender has an interest shall be a breach under the Security Instrument and Lender may invoke any of the remedies permitted by the Security Instivment. BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this 1-4 Family Rider. . .4.u.". . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(Seal) (Teddy D. lause) �-e«��e� . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(Seal) -Borrower . MULTISTATE 1•4 FAMILY RIDER—Fannle MaelFreddie Mae Unlform Instrument Form 317010/85 �