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200303281
<br />1 -4 FAMILY RIDER
<br />(Assignment of Rents)
<br />THIS 1 -4 FAMILY RIDER is made this lath day of March 2003 ,
<br />and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or
<br />Security Deed (the "Security Instrument ") of the same date given by the undersigned (the "Borrower ") to
<br />secure Borrower's Note to Union Bank and Trust Company
<br />(the
<br />"Lender ") of the same date and covering the Property described in the Security Instrument and located at:
<br />4147 W. Capital Ave
<br />Grand Island, NE 66803
<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. In addition to
<br />the Property described in the Security Instrument, the following items now or hereafter attached to the
<br />Property to the extent they are fixtures are added to the Property description, and shall also constitute the
<br />Property covered by the Security Instrument: building materials, appliances and goods of every nature
<br />whatsoever now or hereafter located in, on, or used, or intended to be used in connection with the Property,
<br />including, but not limited to, those for the purposes of supplying or distributing heating, cooling, electricity,
<br />gas, water, air and light, fire prevention and extinguishing apparatus, security and access control apparatus,
<br />plumbing, bath tubs, water heaters, water closets, sinks, ranges, stoves, refrigerators, dishwashers, disposals,
<br />washers, dryers, awnings, storm windows, storm doors, screens, blinds, shades, curtains and curtain rods,
<br />attached mirrors, cabinets, paneling and attached Boor coverings, all of which, including replacements and
<br />additions thereto, shall be deemed to be and remain a part of the Property covered by the Security
<br />Instrument. All of the foregoing together with the Property described in the Security Instrument (or the
<br />leasehold estate if the Security Instrument is on a leasehold) are referred to in this 1 -4 Family Rider and the
<br />Security Instrument as the "Property."
<br />B. USE OF PROPERTY; COMPLIANCE WITH LAW. Borrower shall not seek, agree to or make
<br />a change in the use of the Property or its zoning classification, unless Lender has agreed in writing to the
<br />change. Borrower shall comply with all laws, ordinances, regulations and requirements of any governmental
<br />body applicable to the Property.
<br />C. SUBORDINATE LIENS. Except as permitted by federal law, Borrower shall not allow any lien
<br />inferior to the Security Instrument to be perfected against the Property without Lender's prior written
<br />permission.
<br />D. RENT LOSS INSURANCE. Borrower shall maintain insurance against rent loss in addition to the
<br />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 writing, Section
<br />6 concerning Borrower's occupancy of the Property is deleted.
<br />G. ASSIGNMENT OF LEASES. Upon Lender's request after default, Borrower shall assign to
<br />Lender all leases of the Property and all security deposits made in connection with leases of the Property.
<br />Upon the assignment, Lender shall have the right to modify, extend or terminate the existing leases and to
<br />execute new leases, in Lender's sole discretion. As used in this paragraph G, the word "lease" shall mean
<br />"sublease" if the Security Instrument is on a leasehold.
<br />H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION.
<br />Borrower absolutely and unconditionally assigns and transfers to Lender all the rents and revenues ( "Rents ")
<br />of the Property, regardless of to whom the Rents of the Property are payable. Borrower authorizes Lender or
<br />Lender's agents to collect the Rents, and agrees that each tenant of the Property shall pay the Rents to Lender
<br />or Lenders agents. However, Borrower shall receive the Rents until: (i) Lender has given Borrower notice of
<br />default pursuant to Section 22 of the Security Instrument, and (if Lender has given notice to the tenant(s)
<br />that the Rents are to be paid to Lender or Lender's agent. This assignment of Rents constitutes an absolute
<br />assignment and not an assignment for 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; (it) Lender shall be entitled to collect and receive all of the Rents of the Property; (iii) Borrower
<br />/pg 000022
<br />MULTISTATE 1 -4 FAMILY RIDER Initials: 11L` —°•
<br />Page 7 of 2
<br />1342705(0104) VMP MORTGAGE FORMS- (800)521 -7291
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