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2004104'7?
<br />1 -4 FAMILY RIDER
<br />(Assignment of Rents)
<br />THIS 1 -4 FAMILY RIDER is made this 19th day of October 1 2004 , and is
<br />incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the
<br />"Security Instrument ") of the same date given by the undersigned (the "Borrower ") to secure Borrower's Note to
<br />KEARNEY STATE BANK AND TRUST COMPANY (the "Lender ")
<br />of the same date and covering the Property described in the Security Instrument and located at:
<br />2327 North Sheridan Grand Island Nebraska 68801
<br />[Property Address)
<br />1 -4 FAMILY COVENANTS. In addition to the covenants and agreements made in the Security
<br />Instrument, Borrower and Lender further covenant and agree as follows:
<br />A. ADDITIONAL PROPERTY SUBJECT TO THE SECURITY INSTRUMENT.
<br />In addition to the Property described in Security Instrument, the following items now or hereafter
<br />attached to the Property to the extent they are fixtures are added to the Property description, and shall
<br />also constitute the Property covered by the Security Instrument: building materials, appliances and
<br />goods of every nature whatsoever now or hereafter located in, on, or used, or intended to be used in
<br />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
<br />apparatus, security and access control apparatus, plumbing, bath tubs, water heaters, water closets,
<br />sinks, ranges, stoves, refrigerators, dishwashers, disposals, washers, dryers, awnings, storm windows,
<br />storm doors, screens, blinds, shades, curtains and curtain rods, attached mirrors, cabinets, paneling
<br />and attached floor coverings, all of which, including replacements and additions thereto, shall be
<br />deemed to be and remain a part of the Property covered by the Security Instrument. All of the
<br />foregoing together with the Property described in the Security Instrument (or the leasehold estate if the
<br />Security Instrument is on a leasehold) are referred to in this 1 -4 Family Rider and the Security
<br />Instrument as the "Property."
<br />B. USE OF PROPERTY; COMPLIANCE WITH LAW. Borrower shall not seek,
<br />agree to or make a change in the use of the Property or its zoning classification, unless Lender has
<br />agreed in writing to the change. Borrower shall comply with all laws, ordinances, regulations and
<br />requirements of any governmental body applicable to the Property.
<br />C. SUBORDINATE LIENS. Except as permitted by federal law, Borrower shall not allow
<br />any lien inferior to the Security Instrument to be perfected against the Property without Lender's prior
<br />written permission.
<br />D. RENT LOSS INSURANCE. Borrower shall maintain insurance against rent loss in
<br />addition to the other hazards for which insurance is required by Section 5.
<br />E. "BORROWER'S RIGHT TO REINSTATE" DELETED. Section 19 is deleted.
<br />F. BORROWER'S OCCUPANCY. Unless Lender and Borrower otherwise agree in
<br />writing, Section 6 concerning Borrower's occupancy of the Property is deleted.
<br />G. ASSIGNMENT OF LEASES. Upon Lender's request after default, Borrower shall
<br />assign to Lender all leases of the Property and all security deposits made in connection with leases of
<br />the Property. Upon the assignment, Lender shall have the right to modify, extend or terminate the
<br />existing leases and to execute new leases, in Lender's sole discretion. As used in this paragraph G,
<br />the word "lease" shall mean "sublease" if the Security Instrument is on a leasehold.
<br />H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN
<br />POSSESSION. Borrower absolutely and unconditionally assigns and transfers to Lender all the rents
<br />and revenues ( "Rents ") of the Property, regardless of to whom the Rents of the Property are payable.
<br />Borrower authorizes Lender or Lender's agents to collect the Rents, and agrees that each tenant of the
<br />Property shall pay the Rents to Lender or Lender's agents. However, Borrower shall receive the Rents
<br />until (i) Lender has given Borrower notice of default pursuant to Section 22 of the Security Instrument
<br />and ([i) Lender has given notice to the tenant(s) that the Rents are to be paid to Lender or Lender's
<br />agent. This assignment of Rents constitutes an absolute assignment and not an assignment for
<br />additional security only.
<br />If Lender gives notice of default to Borrower: (i) all Rents received by Borrower shall be held by
<br />Borrower as trustee for the benefit of Lender only, to be applied to the sums secured by the Security
<br />Instrument; (ii) Lender shall be entitled to collect and receive all of the Rents of the Property; (iii)
<br />Borrower agrees that each tenant of the Property shall pay all Rents due and unpaid to Lender or
<br />Lender's agents upon Lender's written demand to the tenant; (iv) unless applicable law provides
<br />otherwise, all Rents collected by Lender or Lender's agents shall be applied first to the costs of taking
<br />control of and managing the Property and collecting the Rents, including, but not limited to, attorney's
<br />fees, receiver's fees, premiums on receiver's bonds, repair and maintenance costs, insurance premiums,
<br />taxes, assessments and other charges on the Property, and then to the sums secured by the Security
<br />Instrument; (v) Lender, Lender's agents or any judicially appointed receiver shall be liable to account for
<br />only those Rents actually received; and (vi) Lender shall be entitled to have a receiver appointed to
<br />take possession of and manage the Property and collect the Rents and profits derived from the
<br />Property without any showing as to the inadequacy of the Property as security.
<br />MULTISTATE 1 -4 FAMILY RIDER - Fannie Mae /Freddie Mac Form 3170 1 101
<br />UNIFORM INSTRUMENT (page 1 of 2 pages)
<br />F16457.1-MG (5102)
<br />2434250
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