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20020042
<br />1 -4 FAMILY RIDER
<br />(Assignment of Rents)
<br />THIS 1 -4 FAMILY RIDER is made this 10th day of January 1 2002 , and
<br />is 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 />Community Mortgage Company (the "Lender ")
<br />of the same date and covering the Property described in the Security Instrument and located at:
<br />2407 NORTH HUSTON AVENUE GRAND ISLAND NE 68803
<br />(Property Address)
<br />1 -4 FAMILY COVENANTS. In addition to the covenants and agreements made in the Security Instrument,
<br />Borrower and Lender further covenant and agree as follows:
<br />A. ADDITIONAL PROPERTY SUBJECT TO THE SECURITY INSTRUMENT. In
<br />addition to the Property described in Security Instrument, the following items now or hereafter attached to
<br />the Property to the extent they are fixtures are added to the Property description, and shall also constitute
<br />the 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
<br />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 control
<br />apparatus, plumbing, bath tubs, water heaters, water closets, sinks, ranges, stoves, refrigerators,
<br />dishwashers, disposals, washers, dryers, awnings, storm windows, storm doors, screens, blinds, shades,
<br />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
<br />covered by the Security Instrument. All of the foregoing together with the Property described in the
<br />Security Instrument (or the leasehold estate if the Security Instrument is on a leasehold) are referred to in
<br />this 1 -4 Family Rider and the Security Instrument as the "Property."
<br />B. USE OF PROPERTY; COMPLIANCE WITH LAW. Borrower shall not seek, agree
<br />to or make a change in the use of the Property or its zoning classification, unless Lender has agreed in
<br />writing to the change. Borrower shall comply with all laws, ordinances, regulations and requirements of any
<br />governmental body applicable to the Property.
<br />C. SUBORDINATE LIENS. Except as permitted by federal law, Borrower shall not allow any
<br />lien 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
<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 writing,
<br />Section 6 concerning Borrower's occupancy of the Property is deleted.
<br />G. ASSIGNMENT OF LEASES. Upon Lender's request after default, Borrower shall assign
<br />to Lender all leases of the Property and all security deposits made in connection with leases of the
<br />Property. Upon the assignment, Lender shall have the right to modify, extend or terminate the existing
<br />leases and to execute new leases, in Lender's sole discretion. As used in this paragraph G, the word
<br />"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 and
<br />revenues ( "Rents ") of the Property, regardless of to whom the Rents of the Property are payable. Borrower
<br />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)
<br />Lender has given Borrower notice of default pursuant to Section 22 of the Security Instrument and (ii)
<br />Lender has given notice to the tenant(s) that the Rents are to be paid to Lender or Lender's agent. This
<br />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
<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) Borrower
<br />agrees that each tenant of the Property shall pay all Rents due and unpaid to Lender or Lender's agents
<br />upon Lender's written demand to the tenant; (iv) unless applicable law provides otherwise, all Rents
<br />collected by Lender or Lender's agents shall be applied first to the costs of taking control of and managing
<br />the Property and collecting the Rents, including, but not limited to, attorney's fees, receiver's fees, premiums
<br />on receiver's bonds, repair and maintenance costs, insurance premiums, taxes, assessments and other
<br />charges on the Property, and then to the sums secured by the Security Instrument; (v) Lender, Lender's
<br />agents or any judicially appointed receiver shall be liable to account for only those Rents actually received;
<br />and (vi) Lender shall be entitled to have a receiver appointed to take possession of and manage the
<br />Property and collect the Rents and profits derived from the Property without any showing as to the
<br />inadequacy of the Property as security.
<br />MULTISTATE 1 -4 FAMILY RIDER - Fannie Mae /Freddie Mac UNIFORM INSTRUMENT Form 3170 1/01
<br />(page 1 of 2 pages)
<br />F16457.1-Ma (3/01)
<br />7006
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