|
99 110558
<br /> ASSIGNMENT OF RENTS RIDER
<br /> THIS ASSIGNMENT OF RENTS RIDER is made and executed this 1St day of November 1999 , and is
<br /> incorporated into and shall be deemed to amend and supplement the Mortgage or Deed of Trust, hereinafter referred to as the "Security
<br /> Instrument", of the same date given by the undersigned, hereinafter referred to as the "Borrower", to secure Borrower's indebtedness,
<br /> hereinafter referred to as the "Note", to UNITED NEBRASKA BANK
<br /> , hereinafter referred to as the "Lender", of the same date and covering the
<br /> property described in the Security Instrument and located at:
<br /> 1011 KENNEDY DRIVE GRAND ISLAND NEBRASKA 68803
<br /> (Property Address)
<br /> WITNESSETH:
<br /> WHEREAS, Borrower and Lender have agreed that any rents and profits attributable to the property should constitute additional security
<br /> to the Lender for the payment of the Note;
<br /> NOW, THEREFORE, It is agreed that the Security Instrument shali be amended hereby and deemed to include the following provisions:
<br /> 1. Assiqnment of Rents and Lender Rental Collection Ricahts. Borrower hereby absolutely and unconditionally assigns all rents, issues
<br /> and profits of the property to Beneficiary. Lender shall have the right, power and authority during the continuance of the Security Instrument
<br /> to collect the rents, issues and profits of the property and of any personal property located thereon with or without taking possession of the
<br /> property affected hereby. Lender, however, hereby consents to Borrower's collection and ratention of such rents, issues and profits as they
<br /> accrue and become payable, so long as Borrower is not, at such time, in default with respect to payment of any indebtedness secured
<br /> hereby, or in the performance of any agreement hereunder.
<br /> 2. Appointment of Receiver. If any event of default in respect to the Security Instrument shall have occurred and be continuing, Lender,
<br /> as a matter of right and without notice to Borrower or anyone ciaiming under Borrower, and without regard to the value of the trust estate or
<br /> the interest of the Borrower therein, shall have the right to apply to any court having jurisdiction to appoint a receiver of the property.
<br /> 3. Riqht to Possession. In case of default in the payment of the said principal Note or interest, or any part thereof, as it shall mature,
<br /> or in the case of failure to keep or perform any of the convenants or agreements contained in the Security Instrument, then the Lender, its
<br /> successors or assigns, shall be and is hereby authorized and empowered to take immediate possession of the said premises therein
<br /> described and to coilect the rents therefrom, and to apply the proceeds thereof to the payment of the Note.
<br /> 4. Application of Rents, Issues and Profits. Ali rents collected by Lender or the receiver shall be applied first to payment of the costs
<br /> of management of the property and collection of rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and
<br /> reasonable attorney's fees, and then to the sums secured by the Security Instrument. Lender and the receiver shall be liable to account only
<br /> for those rents actually received.
<br /> 5. Construction of Provisions. Each of the provisions contained in this Assignment of Rents Rider and the Security Instrument shall,
<br /> unless otherwise specifically required, be construed in accordance with Nebraska law, and in the event any provision herein of therein
<br /> contained shall be determined by a court of competent jurisdiction to be unenforceabie, the same shall be construed as though such
<br /> unenforceable provision were not part hereof or thereof.
<br /> 6. Effect of Rider. Except as specifically modified by or inconsistent with this Assignment of Rents Rider or by any other appiicable
<br /> rider, all of the terms and provisions contained in the Security Instrument shall continue in full force and effect.
<br /> IN WITNESS WHEREOF, Borrower has executed this Assignment of Rents Rider on th date first noted above.
<br /> BOffOWef OGER � FRANDSEN
<br /> � � �J -�
<br /> B� � We� JU�I R SHAVER-FRANDS
<br /> �
<br /> J
<br /> STATE OF NEBRASKA
<br /> � ss:
<br /> COUNTY OF HALL
<br /> On this 1St day of November 1999 , before me, the undersigned, a Notary Public duly commissioned and
<br /> qualified for said county, personally came ROGER D FRANDSEN AND JULIE R SHAVER-FRANDSEN HUSBAND AND
<br /> WIFE , to
<br /> be the identical person(s) whose name(s) is/are subscribed to the foregoing instrument, and he/she/they acknowledge the execution thereof
<br /> to be his/her/their voluntary act and deed.
<br /> witness my hand and Notarial Seal at GRAND ISLAND , N BRASKA in said county, the
<br /> date aforesaid. , �
<br /> GENERAL NOTARY-State oi NeCnska � %
<br /> ��) SHERRI L.O'CALIAGHACJ , "� ` �
<br /> My Ccmm.Exp.Sept.28,200 o a�y. U �� SHERRI O'CA LA HAPJ
<br /> rv�y Commission expires: SEPTEMBER 28, 2003
<br /> F70615.LMG (6/94)
<br /> �.........
<br />
|