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14 FAMILY RIDER AssIgnment of' Rents 88-104989 823 North Orleans Drive, Grand Island, Nebraska 68803 !propertv Address] nus 1-4 FAMILY RIDER is made this 9th day of September , 19 88 , I11III il in<:orpormd inlO IIIId shall be deemed to amend and supplemenl Ihe Mortgage, Deed of Trust or Security Deed (the ""Securily Instrument9') of the same date given by the undersigned (the "Borrower") [0 secure BOlTOWCC'S Note to The Equitable Building and Loan Association, Grand Island, Nebraska (the "Lender") of 1IIe same date and covering the property described in the Security Instrument and located al: 104 FAMILY COVENANTS. (n addition 10 tbe covcnonts nnd agreemenls made in the Security Instrument. Borrower and Lender fW1her covenant and agree as follows: A. USE OF PROPEKI'Y; COMPLIANCE WITH LAW. Burrower shall nol seck. agree 10 or make a change in Ihe use of the Property or its zoning classification. unless Lender hus agreed in writing to the change. Borrower shall comply with all laws. ordinances. regulations and requirements of any governmental body applicable 10 the Property. B, SUBORDINATE LIENS. Excepl as pennilled hy [ederul law. Bnrrnwer shall not allow any lien inferior to the Security instrUment to be perfecced against the Property wilhnul Lender'!,! prior written permission. C. RENT LOSS INSURANCE. Borrower shall mainluin msuruncc against reol loss in addition to the ollier hazards for which insurance is required by Uniform Covenant 5 D. "BOR1lOWER'S RIGIIT TO REINSTATE" DELETED, UnI[nml C,weuant 18 is deleted, E. ASSIGNMENT OF LEASES. Upon Lcnder'~ request. Borruwcr shull assign to Lender all leases of the Property and all security deposits made in connection with leases of lhe Propeny. Upon the assignment. Lender shall have the right to modify. ex.tend or .enninate the existing Icasc!t ami 10 cxcl'ulc new leases, in Lender's sole discretion. As used in this paragraph E. the word "Jease" shall mean "suhlcllSC" if the SCl'urilY Instrument is on u leasehold. F. ASSIGNMENT OF RENTS. Borrower unconditionally l1!\Mgns and tnmsfeno In Lender all the rents and revenues of me Property. Bonower authorizes Lender or Lender's agcnl!\ HI cullecl the renls and revenues and hereby direC1s each lenant of the Property 10 pay the rents to Lender or Lcndcr\ agenl". Uowcvcr. prior CO Lender's Notice to Borrower of Bonuwer's breach of any covenant or agreement in the Securlly Instruntent. Borrower shall collect and receive all rents and revenues of the Property as lrUstee for the benefit of Lender nnd nurrower. This assignment of rents constitutes an absolute assignment WId nol an assignment for additional security only. If Lender gives notice of breach to Borrowt:l: (i) all rents received hy Borrower shall be held by Borrower as trustee for benefit of Lender only. to be applied to the sums secured by the Security Instrument; (ii) Lender shall he entitled to collect and receive all of the rents of the Property; and (iii) each tenant uf the Propcny shall pay all rents due and unpaid to Lender or Lender's agenl on Lender's written demand to the tenllnl. Bonower has not executed any prior assignment uf the rents and has nnl und will nol perfonn any act that would prevent Lender from exercising its right\; under this paragruph F. Lender shall not be required to enter upon. take control nf nr maintain the Property before or after giving notice of breach to Borrower. However, Lender or i:I judicially uppoinled recciver may do so at any time there is II breach. Any application of rents shall not cure or waive any default or in...ulidulC any other right or remedy of Lender. This assign- ment of rents of the Property shan lenninate whcn the debl !\ccured by the Security Instrument is paid in full. G. CROSS-DEFAULT PROVISION. Borrower's deflluh or breach under any note or agreement in which Lender has an interest shall be a breach undrr the Security InMJUmenl IInd Lender may invoke any of 'he remedies penniued by the Security InsbUment. BY SIGNING BELOW. Borrower accepts and agrees to the tenm. and pnwisions contained in this 1-4 Family Rider. Fox-Stalker Investments, A Partnership by'. H*~~~! ~~A ""~~~ bY.://~Z~~~ ,,(Seal) ~E. Fox y-;... BoHOWOI , ,(Seal) -Borrowet' , ,(Seal) ~'lITO'llIe1 _ ,.. -..y IIDEII- _ _II .... 111_ I_ant ram l190 FORM 3170 I!HIS 10 rllU"dlor CaI Gl"'rl.l(nIo~e.--rtll"fl... n. t~I'lAlI""', 1..00.aa:s-oaatl Md'Olll"' ,..CJ0.3--...u