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88- 10510f: 1-4 FAMILY RIDER Assignment of Rents THIS 1-4 FAMILY RIDER i. mode this 21stday of September , 19 88 , ODd is incorpo13red into and shell be deemed 10 amend and supplement the Mongege, Deed of Trust or Securily Deed (the IlSecurily Instnum:nt") of the same date given by the undersigned (the "Borrower") (0 secure Borrower's Note to The Equitable 8uilding and Loan Association, Grand Island, Nebraska (Ihe "Lender") of die same date and covering the propeny described in the Security Instrumenl and located at: 2208 West 16th, Grand Island, Nebraska 68803 [Property Address] 14 FAMILY COVENANTS. In addition to the covenants and agreements made in the Security Instrument. Borrower and lender further covenant and agree as follows: A. USE OF PROPERTY; COMPLIANCE WITH LAW. Borrower shall nol seek, agree tn or make a change in the use of the Property or its zoning classification. unless Lender has agreed in writing to the change. Borrower shall comply with all laws. ordinances. regulations and requirements of any governmcnlal body applicable to the Propeny. B. SUBORDINATE LIENS. Except as pennined by Fedeml law, Borrower shall not allow any lien inferior to the Security Instrument to be perfected against the Propeny without Lender's prior written permission. C. RENT LOSS INSURANCE. Borrower shall maintain insurance against rent loss in addition to the other hazards for which insurance is required by Unifonn Covenant 5. D. "BORROWER'S RIGHT TO REINSTATE" DELETED. Unifonn Covenant 18 is deleled. E. ASSIGNMENT OF LEASES. Upon Lender's request, Borrower ,hull as,ign to Lender all leases of the Property and all security deposits made in connection with leases of the Property. Upon the assignment, Lender shall have the right to modify, extend or terminate the existing leases and to execute new leases, in Lender's sole discretion. As used in this paragraph E, the word "lease" shall mean "sublease" if the Security Instrumenl is on a leasehold. F. ASSIGNMENT OF RENTS. Borrower unconditionally assigns and transFers to Lender all the rents and rcvenues of the Propeny. Borrower authorizes Lender or Lender's agents to collect the rcnts and rcvenucs and hereby directs each tenant of the Property to pay Ihe rents to Lender or Lender's agents. However. prior 10 Lender's Notice to Borrower of Borrower's breach of any covenanl or agreement in the Security Instrumenl, Borrower shall collect and receive all rents and revenues of the Property as lrustee for the benefit of Lender and Borrower. This assignml:nt of rents constitutes an absolulc assignment and not an assignment for additional security only. If Lender gives notice of breach to Borrower: (i) all rents received by Borrower shall be held by Borrower as trustee for benefit of Lender only. to be applied to the sums secured by the Security (nstrument; (ii) Lender shall be entitled to collect and receive all of the rents of the Propel1y; and (iii) each lenanl of the Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's written demand 10 Ihe lenanl. Borrower has not executed any prior assignment of the rents and ha~ nol and will not perform any aCI that would prevent Lender from exercising its rights under this paragntph F. Lender shall not be required to enter upon, take control of or maintuin the Propeny before or after giving notice of breach to Borrower. However, Lender or a judicially appoinlcd receiver may do so at any time Ihere is a breach. Any application of rents shall nol cure or waive any default or invalidale any other right or remedy of Lender. This assign- ment of rents of the Property shall tenninate when the debt secured by the Sccurily Instrument is paid in ful1. G. CROSS-DEFAULT PROVISION. Borrower's default or breach under any nole or agreement in which Lender has an interest shall be a breach under the Security Instrumenl and Lender may invoke any of the remedies penniued by the Security Instrument. BY SIGNING BELOW, Borrower accepts and agrees to the tcnns and provisions L:ontained in thb 1-4 Family Rider. ci~~~:' Lorna R. Razey :.) \ .. . . . . .(Seal) .Borrower . .(Seal) .SOHowe' . .(S.al) .Borrowe, . . . .(Seal) -Borrower IIUUlrrAlt 1-4 fUlLY AlgER - flMI. 1I.IIF1edjl. III' Unl"" Indrument Form 17QO FORM 3170 1(}.85 1"Rcr.1l1ll Cal GI'lIDtllllU'!lllu!lnl!~ntlJl'"'' h ~l"ld."I. 1""15:1-0101 Md"lJll" '...00-35......:.