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<br /> X104 r 1.2
<br /> ASSIGNMENT OF RENTS RIDER
<br /> MAY
<br /> 17TH day0f ~9+ - and Is
<br /> THIS ASSIGNMENT OF RENTS €IIDER Is made nd executed this
<br /> Incorporated Into and shall be deemed to amend and supplement the Mortgage or Deed of Trust, hereinafter referred to as the
<br /> "Security Instrument", of the same date given by the undersigned, hereinafter referred to as the "Borrower", to secure
<br /> Borrowar's Indebtedness, hereinafter referred to as the "Note", to HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br /> GRAND ISLAND. hereinafter referred to as the "Lender", of the same date and covering the property desc►lbed In the Security
<br /> instrument and located at:
<br /> 3'143 WDDDRIDGE BLVD, GRAND ISLAND, NEBRASKA 68601
<br /> (Property Address)
<br /> WITNESSETH:
<br /> WHEREAS, Borrower and Lender have agreed that any rents and profits attributable to the property should constitute
<br /> additional security to the Lender for the payment of the Note;
<br /> NOW, THEREFORE,, It le agreed that the Security instrument shall be amended hereby and deemed to Include the following
<br /> provisions:
<br /> 1 i n n a R nt n t I 1 Borrower hereby absolutely and unconditionally assigns all
<br /> rents, Issues and profits of the property to Beneficiary. Lender shall have the right, power sod authority during the
<br /> continuance of the Security Instrument to collect the rents, Issuers and profits of the property and of any personal property
<br /> located thereon with or without taking possession of the property affected hereby. Lender, however, hereby consents to
<br /> Borrower's collection and retention of such rents, Issues and profits as they accruo and become payable, so long as Borrower
<br /> Is riot, at such time, In default with respect to payment of any Indebtedness secured hereby, or In the performance of any
<br /> agreement hereunder.
<br /> 2. ointment df Receiv r. if any event of default In respect to the Security Instrument shall have occurred and be
<br /> continuing, Lender, as a matter of right and without notice to Borrower or anyone claiming under Borrower, and without
<br /> regard to the value of the trust estate or the Interest of the Borrower therein, shall have the right to apply to any court having
<br /> jurisdiction to appoint a receiver of the property.
<br /> part thereof, as It
<br /> B_1,-,ht~ (a-~pQ;}j9n, In case of default In the payment of the said principal Note or In 4erest, or any
<br /> shall mature, or In the case of failure to keep or perform any of the covenants or agreements ;ontafned In the Security Instru-
<br /> ment, then the Lender, its successors or assigns, shall be and Is hereby authorized and empowered to take immediate
<br /> possession of the said premises therein descr!be•:l and to collect the rents therefrom, and to apply the proceeds thereof to the
<br /> payment of the Note.
<br /> 4. Aoplicatlon of Rents 'issues, and Profits. All rents collected by Lender or the receiver shall be applied first to payment
<br /> of the costs of management of the property and collection of rents, Including, but not limited to, receiver's fees, premiums on
<br /> receiver's bonds and reasonable attorney's fees, and then to this sums secured by the Security Instrument. Lender and the
<br /> receiver shall be liable to account only for those rents actually received.
<br /> 5, on traction of Provisions. Each of the provisions contained In this Assignment of Rents Rider and the Security Instru-
<br /> ment shall, unless otherwise speclflcaily required, be construed in accordance with Nebraska law, and In the event any
<br /> provision lv5reln or therein contained shall be determined by a court of competent jurisdiction to be unenlorceab!.a, the some
<br /> ahail be construed as though such unenforceable provision were not a part hereof or thereof.
<br /> g, affjZLqf Id r. Except as specifically modified by or inconsistent with this Assignment of Rents Alder or b, my other
<br /> applicable rider, all of the terms and provisions contained In the Security Instrument shall continue In i ali force and effect.
<br /> IN WITNESS WHEREOF, Borrower has executed this Assl ment of Re t Ider on the date first not-rd above.
<br /> GA P DERSENBorrow
<br /> MARY I PE SENBorrower
<br /> STATE OF NEBRASKA)
<br /> (ss:
<br /> COUNTY OF HALL )
<br /> On this NTH day of MAY 19 94 , before me, the undersigned, a Notary Public duly commissioned and
<br /> qualified for said county, personalty came GARY U PEDERSEN AND MARY I PEDERSEN
<br /> , to be the Identicni person(s) whose name(s) Is/are subscribed
<br /> HUSBAND AND WIFE
<br /> to the foregoing Instrument, and helshelthey acknowledge the execution thereof to be hlslherlthelr voluntary act and deed.
<br /> ^6!38Q1
<br /> "RAND ISLAND., NEBRASKA
<br /> Witness my heed and Notarial Seal at ___'3RAND ISLAND., NEBRASKA
<br /> In sal date afore Id.
<br /> NotYry Public -
<br /> My Commission expires: _p,S(at~ottGt - _ -
<br /> STEVE u. KuNZMOI
<br /> HF 4030 JrM sty Comm. E%D, N;ar, l,1!3~8
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