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BB- 106069 14 FAMILY RIDER ~ment of Rents '11I1S 1-4 FAMILY RIDER is made this lOttuay of November , 198B aud is iDcolpOrated into and shall be deemed to amend and supplement the Mongage, Deed of Trust or Securily Deed (the "Security Insuurnenr") of the ssme dale given by the undersign<d (the "Borrower") to secure Borrower's Note 10 Tha Equitable Building and Loan Association, Grand Island, Nebraska (the "Lender") of the ssme date and covering the properry described in the Security Insuumenl and located at: 2013 West 13th Street, Grand Island, Nebraska 6B803 jProperty Addressl 1-4 FAMILY COVENANTS. ]n addition to the covenants and agreements made in the Security Instrument, Borrower and Lender funher covenant and agree as follows: A. USE OF PROPEKfY; COMPLIANCE WITH LAW. Borrower shall not seek. agree to or make a change in the use of the Property or its zoning classification. unless Lender has agreed in writing (0 the change. Borrower shall comply with all laws. ordinances, regulations and requirements of any governmental body applicable to the Property. B. SUBORDINATE LffiNS. Except as pennilted by federal law, Borrower shall not allow any lien inferior 10 the Security Instrument to be perfected against lhe Property without Lel)der's prior written pennission. 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 RIGIIT TO REINSTATE" DELETED. Unifonn Covenant 18 is deleted. E. ASSIGNMENT OF LEASES. Upon Lender's requesl, Borrower shall assign to Lender all leases of the Propeny and all security deposits made in connection with leases of the Propeny. Upon the assignment, Lender shall have the right to modify, extend or tenninate the existing leases and to execute new leases. in Lender's sole discretion. As used in this panlgIllph E, Ihe word ..Iesse" shall mean "sublease" if the Security Instrument is on a leasehold. F. ASSIGNMENT OF RENTS. Borrower unconditionally assigns and t....msfers to Lender all the rents and revenues of the Propcny. Borrower authorizes Lender or Lender"s agents 10 coHeet the renlS and revenues and hereby directs each tenant of the Propeny to pay the rents to Lender or Lender's agents. However. prior to Lender"s Notice to Borrower of Borrower's breach of any covenant or agreement in me SecurilY lnstrumem~ Borrower shall collect and rec(:jve alJ rents and revenues of the Property as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute 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, 10 be applied to the sums secured by the Security Instrument; (ii) Lender shall be entitled to collect and receive all of lbe rents of the Propeny; and (iii) each lenant of the Propeny shall pay .11 rents due and unpaid to Lender or Lender's agent on Lender's written demand to the tenant. Borrower has not executed any prior assignmem of the rems and has nol and will nol perform uny ucl lhal would pn:venl Lender from exercising its rights under this paragraph F. Lender shall not be required to enter upon, take control of or maintain the Propeny before or after giving notice of breach to Borrower. However. Lender or a judicially appointed receiver may do so at any lime there is a breach. Any application of rents shall not cure or waive any default or invalidale any other right or remedy of Lender. This assign. ment of rents of the Proper1y shall lenninate when the debt secured by the Security Instrument is paid in full. G. CROSS-DEFAULT PROVISION. Borrower's default or breach under any note or agreement in which Lender has an interest shall be a breach under the Security Instrument and Lender may invoke any or the remedies pennitted by the Security Insuumenl. BY SIGNING BELOW. Borrower accepts and agrees 10 [he tenns and provisions contained in this 1-4 Family Rider. A~1.:[...~. Gary gl'Valasek '~G" 'l'/!."~ ., ' .-Ma~ -li. ~a asep;, I Seal) Barrowar .(Seal) Borrower ..... .(Seal) .Borrower . .. .. .(SeaI) .Borrower IIUIllITAlE 1-4 FAMILY IUDfR - 1'...11 Mllifflddlo MI, Unllorm Inllnlmon! Form 17Q() FORM 3170 1D.85 TnFlrln1er-Cnl Gmnll';'elio~'e!l51.tJ"_ he f;jlltulllll, ,-aQ0.2B3.Q2U. Md>glW1 ,-II00-3!1Il-2..:a