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1 -4 FAMILY RIDER 200214198
<br />(Assignment of Rents)
<br />THIS 1 -4 FAMILY RIDER is made this 17th day of December 2002 and is incorporated into and
<br />shall be deemed to amend and supplement the Mortgage, Deed of'I'Mat or Security Deed (the "Security Instrument ") of the
<br />same date given by the undersigned (the "borrower') to secure Borrower's Note to lln'twl Nehraska Rank
<br />(the "Lender ") of the same date and covering the Property described in the Security Instrument and located aL
<br />227 & 229 S Sycamore Grand Island NE 68801
<br />1 -4 FAMILY COVENAN'15. 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 the Security Instrument, the fallowing items arc added to the Property description, and shall also constitute the
<br />Property covered by the Security Instmmenf. building materials. appliances and goods of every nature whatsoever now or
<br />hereafter located in, on, or used, or intended to be used in concoction with the Property, including, but not limited to, those for
<br />the purposes of supplying or distributing heating, cooling, electricity, gas, water, air and light, fire prevention and extinguishing
<br />apparatus, secm'ity and access control apparatus, plumbing, bath jobs, water heaters, water closets, sinks, range's, stoves,
<br />refrigerators, dishwashers, disposals, washers, dryers, awnings, slmin windows, storm doors, screens, blinds, shades, curtains
<br />and curtain rods, attached unions, cabinets, panelling and attached floor coverings now or hereafter attached to the Property, all
<br />of which, including replacements and additions thereto, shall be deemed to be and remain a part of the Property covered by the
<br />Security Instrument. All of the foregoing together with the Property described in the Security Instrument (or the leasehold
<br />.fate if the Security Instrument is on a leasehold) are referred to in this 1 -4 Family 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
<br />of the Property or its zoning classification, unless Lender has agreed in writing to the change. Borrower shall comply with all
<br />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 lion inferior w the Security
<br />Instrument to be perfected against the Property without Leader's prior written permission.
<br />D. RENT LOSS INSURANCE. Borrower shall maintain insurance against rent loss in addition to the other hazards for
<br />which insurance is required by Uniform Covenant 5.
<br />E. "BORROWER'S RIGHT TO REINSTATE" DELETED. Uniform Covenant 18 is deleted.
<br />F. BORROWER'S OCCUPANCY. Unless Lender and Borrower otherwise agree in writing, the first sentence in
<br />Uniform Covenant 6 concerning borrower's occupancy of the Property is deleted. All remaining covenants and agreements set
<br />forth in Uniform 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
<br />all security deposits made in connection with leases of the Property. Upon the assignment, Lender shall have the right to
<br />modify, extend or terminate the existing leases and to execute new leases, in Lender's sole discretion. As used in this paragraph
<br />G, the word "lease" shall mean "suhlcasc" if the Security Instrument is on a leasehold.
<br />H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. bnrrowcr
<br />absolutely and unconditionally assigns and transfers to Tender 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, and agrees
<br />that cacti tenant of the Property shall pay the Rents to Lender or Lender's a Sents. However, Borrower shall receive the Rents
<br />until (i) Lender has given Borrower notice of default pursuant to paragraph 1 of the Security Instrument and (it) Lender has
<br />given notice to the ter anL(s) that the Rents are to be paid to Lender or Lender's agent. this assignment of Rents constitutes an
<br />absolute assignment and not an assignment for additional security only
<br />If Lender gives notice of breach to Borrower (i) all Rents received by Borrower shall be held by Borrower as trustee for the
<br />benefit of Lender only, to be applied to the sums secured by the Security Instrument, (n) tender shall he entitled to collect and
<br />receive all of the Rents of the Property; (iii) borrower agrees that cacti tenant of the Property shall pay all Rents due and unpaid
<br />to Lender or Lenders agents upon Lender's written demand to the tenant; (iv) unless applicable law provides otherwise, all
<br />Rents collected by Lender or Lender's agents shall be applied first to the costs of taking control of and managing the Property
<br />and collecting the Rents, including, but not limited to, attorney's fees, receiver's fees, premiums on receiver's bonds, repair and
<br />maintenance costs, insurance premiums, taxes, assessments and other charges on the Property, and then to the suite secured by
<br />the Security Instrument; (v) fender, I.ender's agents or any judicially appointed receiver shall be liable to account for only those
<br />Rents actually received; and (Ni) 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 inadequacy of the Property as
<br />security
<br />If the Rents of the Property are not sufficient to cover the costs of taking control of and managing the Properly and of
<br />collecting the Rents any funds expended by Lender for such purposes shall become indebtedness of Borrower to Lender secured
<br />by the Security Instrument pursuant to Uniform Covenant 7.
<br />Borrower represents and warrants that Borrower has not executed any prior assignment of Ilse Rents and has not and will
<br />not perform any act that would prevent Lender from exercising its rights under this paragraph.
<br />Lender, or Lender's agents or a judicially appointed receiver, shall not be tarred to enter upon, take control of or maintain
<br />the Property before or after giving notice of default to Borrower. However, Lender, or Lender's agents or a judicially appointed
<br />receiver, may do so al any tine when a default occurs. Any application of Rents shall not cure or waive any default or invalidate
<br />any other right or remedy of Lender. This assignment of Rents of the Property shall terminate when all the suers secured by the
<br />Security instrument arc paid in full.
<br />1. CROSS - DEFAULT PROVISION. Borrowers default or breach under any note or agrnnncnl in which Lender has an
<br />interest shall be a breach under the Security Instrument and Lender may invoke any of the remedies permitted by the Security
<br />Instrmnent.
<br />BY SIGNING BELOW, borrower accepts and agrees to the terms and ovisions cun�7t / }tried in thois, 1-4 Family Rider.
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<br />MET I'IS'IAIL1 -A FAMILY RIDER- FannieMac /Freddie Mac Unithrm Instrument Form 31709 /90
<br />1012'111, (1,17)
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