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88_ 1051.13 14 FAMILY RIDER Assignment of Rents nus 1-4 FAMll..Y RIDER is mode this 21slllay of September . 1988 eud iI incorporal<xl inlO eud shall be deemed 10 amend and supplement 1I1e Mnngage. Deed of Trusl or Securily Deed (the uSecuriIy Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to The Equitable Building and Loan Association, Grand Island, Nebraska (the "Lender") of the same date and covering the property described in lhe Security (nstromen1 and located at: 105 Seedling Mile Court, Grand Island, Nebraska 68801 [Property Addressl 1-4 FAMILY COVENANTS. In addition to the covenants and agreements made in the Security Instrument. Borrower and L!nder further covenant and agree as fcHows: A. USE OF PROPEKrY; COMPLIANCE WITH LAW. Borrowcr shall not scck. agrec. to or makc a change in Ihe use of the Property or its zoning classification. unJess Lender hm. agreed in writing to the change. Borrower shall comply with all laws. ordinances, regulations and requirements of any governmental body applicable to the Property. B. SUBORDINATE LIENS. Excepl as pcrmiUed by federal law. Borrower shall not allow any lien inferior 10 1I1e Security Insoumenl 10 be perfected against the Property wilhout Lender's prior written permission. C~ RENT LOSS INSURANCE. BOITOu.-er shall maintain insurance against renl loss in addition to the other hazards for which insurance: is required by Unifonn Covenant 5. D. "BORROWER'S RlGIIT TO REINSTATE" DELETED. Uniform Covenant 18 is deleled. E. ASSIGNMENT OF LEASES. Upon Lender's rt:quest. Bomlwer shall assign 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 Ibis paragraph E, the word "lease" shall mean "sublease" if the Sccurily Instromenl is on a leasehold. F~ ASSIGNMENT OF RENTS. Borrower unconditionally assigns and tmmfers 10 Lender all the rents and revenues of the Property. Borrower authorizes Lender or Lender's agenb to coHeel the rents and revenues and hereby directs each tenant of the Propeny to pay the n:nls 10 Lender or Lender's agenls. However, prior 10 Lender's Notice 10 Borrower of Borrower's lneach of any covenant or agreement in the Seeurily lnstrument. Borrower shall collecl and receive all rents and revenues of the Propcny as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and nol an assignment for additionaJ security only. H Lender gives notice of breach 10 Borrower: 0) all renls n:ccivcd by Borrower shllll be held by Borrower [15 trustee for benefit of Lender only, to be applied to Ihe sums secured by the Security Instrument: (ii) Lender shall be entitled to collect and receive all of the rents of the Propeny; and (iii) each (enant of the Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's wrinen demand 10 the tenant. Borrower has not ex.ecuted any prior assignment of Ihe rent.!. and hU!I nol and will not pcrfnnn any act that would prevent Lender from ex.ercising its rights under mi!! panlgrdph F. Lender shall not be required 10 cnler upon, take conlrol of or maintain Ihe Pmpc:ny before or after giving notice of breach to Borrower. However, Lender or lJ judiciall)o' appoinlw receiver may do sn at IIny time lhere is a breach. Any application of rent!. shalJ not cun: or waive any default or invalidate any other righl or remedy of Lender. This assIgn- ment of rent!. of the Property shall tcnninate when the debt secured hy the Securily InsLnlmenl is paid in full. G. CROSS-DEFA.ULT PROVISION, Borrower's default or breach under any nole or agrecmenl in whieh Lender has an inlc:rest shall be a breach under the Securily Inslrumcm and Lender may invoke any of the remedies pc:nniued by the Security Instrument. BY SIGNING BELOW. Borrower accept!! and agree!. 10 the term!'> and pruvi!'>iuns conlilined in this J-4 Family Rider ..l:rt~])~ .:&~ Michael Dean Buesig ~ ~.,..,~~)" '<'- "'-- ~~4'"6 jud, A~n Biies i g (Seal) Ballowe, (Seal I Burlowe. . (Seal) .8ofrower .(Se&I) &mowe' .ulJllTm 1-4 _Ll' MOO! - _ __II ... Uoltenn -.. Fam 17Q() FORM 3170 1~ '-~'.... c.. [....al ....... n._..... ,,~...O<; ~. ._,....... ,..-ao..<<tI:I.QROIIMo......".,'''-OO,~I.~4:I