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200303309
<br />- 4 FAMILY RIDER
<br />(Assignment of Rents)
<br />THIS 1 -4 FAMILY RIDER is made this 27th day of June, 2003 and is incorporated into and shall be deemed
<br />to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument') of the same date
<br />given by the undersigned (the "Borrower) to secure Borrower's Note to A &S Mortgage Services Corp. d /b /a Residential
<br />Mortgage Services (the "Lender') of the same date and covering the Property described in the Security Instrument and
<br />located at:
<br />1419 North Piper Street, Grand Island, NE 68803
<br />[Property Address]
<br />1 -4 FAMILY COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower
<br />and Lender further covenant and agree as follows:
<br />A. ADDITIONAL PROPERTY SUBJECT TO THE SECURITY INSTRUMENT. In addition to the Property
<br />described in Security Instrument, the following items now or hereafter attached to the Property to the extent they are
<br />fixtures are added to the Property description, and shall also constitute the Property covered by the Security
<br />Instrument: building materials, appliances and goods of every nature whatsoever now or hereafter located in, on, or
<br />used, or intended to be used in connection with the Property, including, but not limited to, those for the purposes of
<br />supplying or 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, sinks, ranges,
<br />stoves, refrigerators, dishwashers, disposals, washers, dryers, awnings, storm windows, storm doors, screens, blinds,
<br />shades, curtains and curtain rods, attached mirrors, cabinets, paneling and attached floor coverings, all of which,
<br />including replacements and additions thereto, shall be deemed to be and remain a part of the Property covered by
<br />the Security 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 Security
<br />Instrument as the "Property."
<br />B. USE OF PROPERTY, COMPLIANCE WITH LAW. Borrower shall not seek, agree to or make a change in
<br />the use of the Property or its zoning classification, unless Lender has agreed in writing to the change. Borrower shall
<br />comply with all laws, ordinances, regulations and requirements of any governmental body applicable to the Property.
<br />C. SUBORDINATE LIENS. Except as permitted by federal law, Borrower shall not allow any lien inferior to
<br />the Security Instrument to be perfected against the Property without Lender's prior written permission.
<br />D. RENT LOSS INSURANCE. Borrower shall maintain insurance against rent loss in addition to the other
<br />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 6
<br />concerning Borrower's occupancy of the Property is deleted.
<br />G. ASSIGNMENT OF LEASES. Upon Lender's request after default, Borrower shall assign to Lender all
<br />leases of the Property and all security deposits made in connection with leases of the Property. Upon the assignment,
<br />Lender shall have the right to modify, extend or terminate the existing leases and to execute new leases, in Lender's
<br />sole discretion. As used in this paragraph G, the word "lease" shall mean "sublease" if the Security Instrument is on a
<br />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
<br />to whom the Rents of the Property are payable. Borrower authorizes Lender or Lender's agents to collect the Rents,
<br />and agrees that each tenant of the Property shall pay the Rents to Lender or Lender's agents. However, Borrower
<br />shall receive the Rents until (i) Lender has given Borrower notice of default pursuant to Section 22 of the Security
<br />Instrument and (ii) Lender has given notice to the tenant(s) that the Rents are to be paid to Lender or Lender's agent.
<br />This assignment of Rents constitutes an absolute 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 Borrower as
<br />trustee for the benefit of Lender only, to be applied to the sums secured by the Security Instrument; (ii) Lender shall
<br />be entitled to collect and receive all of the Rents of the Property, (iii) Borrower agrees that each tenant of the
<br />Property shall pay all Rents due and unpaid to Lender or Lender's agents upon Lender's written demand to the tenant;
<br />(iv) unless applicable law provides otherwise, all Rents collected by Lender or Lender's agents shall be applied first to
<br />the costs of taking control of and managing the Property and collecting the Rents, including, but not limited to,
<br />attorney's 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 Instrument (v)
<br />Lender, Lender's agents or any judicially appointed receiver shall be liable to account for only those Rents actually
<br />received; and (vi) Lender shall be entitled to have a receiver appointed to take possession of and manage the Property
<br />and collect the Rents and profits derived from the Property without any showing as to the inadequacy of the Property
<br />as security.
<br />If the Rents of the Property are not sufficient to cover the costs of taking control of and managing the
<br />Property and of collecting the Rents any funds expended by Lender for such purposes shall become indebtedness of
<br />Borrower to Lender secured by the Security Instrument pursuant to Section 9.
<br />Borrower represents and warrants that Borrower has not executed any prior assignment of the Rents and
<br />has not performed, and will not perform, any act that would prevent Lender from exercising its rights under this
<br />paragraph.
<br />Lender, or Lender's agents or a judicially appointed receiver, shall not be required to enter upon, take control of or
<br />maintain the Property before or after giving notice of default to Borrower. However, Lender, or Lender's agents or a
<br />judicially appointed receiver, may do so at any time when a default occurs. Any application of Rents shall not cure or
<br />waive any default or invalidate any other right or remedy of Lender. This assignment of Rents of the Property shall
<br />terminate when all the sums secured by the Security Instrument are paid in full.
<br />1. CROSS - DEFAULT PROVISION. Borrower's default or breach under any note or agreement in which
<br />Lender has an interest shall be a breach under the Security Instrument and Lender may invoke any of the remedies
<br />permitted by the Security Instrument.
<br />BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this 1 -4 Family Rider.
<br />Vae1J. -- - -- --MDonahue
<br />---------------------------------
<br />Andrea D. Donahue
<br />MULTISTATE 1 -4 FAMILY RIDER - - -- Fannie Mae /Freddie Mac Uniform Instrument Form 3170 1 /01
<br />R03 -1 712
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