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Assignment of Rents Rider
<br />200303107
<br />This RIDER is made this Still day of March 1 2003 and is incorporated into and shall be
<br />deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrument') of the same date given by the
<br />undersigned (the " Borower") to secure Borrowers Note to Lincoln Federal Savings Bank of Nebraska
<br />(the "Lender ") of the same date and covering the Property described In the Security Instrument and located at:
<br />224 Kaufman Ave., Grand Island. Nebraska 68803
<br />[Property Aoeress]
<br />COVENANTS. In addition to the covenants end agreements made in the Security Instrument, Borrower and Lender further
<br />covenant and agree as fellows:
<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 the
<br />Security Instrument: building materials, appliances and goods of every nature whatsoever now or hereafter located In, on or used, or Intended
<br />to be used in connection with the Property, including, but not limited to, those for the purposes of supplying or distributing heating, cooling,
<br />electricity, gas, water, air and light, fire prevention and extinguishing apparatus, security and access central apparatus, plumbing, bath tubs,
<br />water heaters, water closets, sinks, ranges, stoves, ref fterators, dishwashers, disposals, washers, dryers, awnings, storm windows, storm
<br />doors, screens, blinds, shades, curtains and curtain rods, attached mirrors, cabinets, panelling and attached floor coverings now or hereafter
<br />attached to the Property, all of which, including replacements and additions thereto, shall be deemed to be and remain a part of the Property
<br />covered by the Security Instrument. All of the foregoing together with the Property described in the Security Instrument (or the leasehold
<br />estate it the Security Instrument is on a leasehold) are referred to in the Assignment of Rents Rider and the Security Instrument as the
<br />Property"
<br />B. USE OF PROPERTY; COMPLIANCE WITH LAW. Borrower shall not seek, agree to or make a change in the use of
<br />the Property or its zoning classification, unless Lender has agreed in writing to the change. Borrower shall comply with all laws, ordinances.
<br />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 wrinen 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 16 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 Uniform
<br />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, extend or
<br />terminate the existing leases and to execute new leases. In Lender's sole discretion. As used in this paragraph G, the word "lease" shall
<br />mean "sublease" 1 the Security Instrument Is on a leasehold.
<br />H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. Borrower absolutely
<br />and unconditionally assigns and transfers to Lender all the rents and revenues ("Rents") of the Property, regardless of to whom the Rents of
<br />the Property are payable. Borrower authorizes Lender or Lender's agents to collect the Rents, and agrees that each tenant of the Property
<br />shall pay the Rents to Lender or Lender's agents. However, Borrower shall receive the Rents until (i) Lender has given Borrower notice of
<br />default pursuant to paragraph 21 of the Security Instrument and (ii) Lender has given notice to the tenanl(a) that the Rents are to be paid to
<br />Lender or Lender's agent. This assignment of Rents constitutes an absolute assignment and not an assignment for additional security only.
<br />If Lender gives notice of breach to Borrower: (i) All Rants received by Borrower shall be held by Borrower as trustee for the benefit of
<br />Lender only, to be applied to the sums secured by the Security Instrument; (it) Lender shall be entitled to toiled and receive all of the Rents
<br />of the Property; (iii) Borrower agrees that each tenant of the Property shall pay all Rents due and unpaid to Lender or Lender's agents upon
<br />Lender's written demand to the tenant; (N) unless applicable law provides otherwise, all Rents collected by Lender or Lender's agents shall be
<br />applied first to the costs of taking control of and managing the Property and collecting the Rents, including, but not limited to, attomeys fees,
<br />receivers fees, premiums on receiver's bonds, repair and maintenance costs, insurance premiums, taxes, assessments and other charges on
<br />the Property, and then to the sums secured by the Security Instrument; (v) Lender, Lender's agents or any judicially appointed requester
<br />shall liable to account for only those Rents actually received; and (vi) Lender shall be entitled to have a receiver appointed to take
<br />possession of and manage the Property and shall collect the Rents and profits derived from the Property without any showing as to the
<br />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 the
<br />Rents any funds expended by Lender for such purposes shall became indebtedness of Borrower to Lender secured by the Security
<br />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 perform
<br />any act that would prevent Lender tram 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 receiver, may do
<br />so at any time when a default occurs. Any application of Rents shall not cure or waive any default or invalidate any other right or remedy
<br />of Lender. This assignment of Rents of the Property shall terminate when all the sums secured by the 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 provisiyIs contained Ip this Assignment of Rents Rider.
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