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200707537 REHABILITATION RIDER TO SECURITY INSTRUMENT THIS REHABILlT A TION LOAN RIDER is made August 27,2007, and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed ("Security Instrument") of the same date given by the undersigned ("Borrower") to secure Borrower's Note (''Note'') to Home Federal Savings and Loan Assn of Grand Island (together with its successors and assigns, "Lender") of the same date and covering the property described in the Security Instrument (the "Property") and located at: 4603 E BISMARK RD - Grand Island. NE 68801 (Property Address) ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Inst:ument, Borrower and Lender further covenant and agree as follows: A. Loan proceeds are to be advanced for the rehabilitation ofthe premises in accordance with the Rehabilitation Loan Agreement dated August 27,2007, between Borrower, Lender and, if applicable, certain other parties. This Agreement is incorporated by reference and made a part of this Security Instrument. B. If the rehabilitation is not properly completed, performed with reasonable diligence, or is suspended or discontinued at any time unless caused by strike, lockout, insured casualty, Act of God or other cause beyond the reasonable cause of Borrower, in which event such suspension shall not exceed forty-five (45) days, Lender is vested with full authority to take the necessary steps to protect the rehabilitation improvements and the Property from harm, continue existing contracts or enter into necessary contracts to complete the rehabilitation. All sums expended for such protection, exclusive of the advances of the principal indebtedness, in the sole discretion of Lender, may be added to the principal indebtedness, and be secured by the Security Instrument and be due and payable on demand with interest as set out in the Note. C. If Borrower fails to make any paymcnt or to perform any other obligation under the Note or Security Instrument or Rehabilitation Loan Agreement, or an Event of Dcfault has occurred under the Rehabilitation Loan Agreement, the loan shall, at the option of Lender, be in default. Among the Events of Default under the Rehabilitation Loan Agreement are the following: (a) Failure to comolete the Rehabilitation. The Rehabilitation is not completed in accordance with the Plans and Specifications on or before the date that is 12 months after the date ofthe Note. The Rehabilitation is not carried on with reasonable diligence or there is a substantial suspension in the rehabilitation or equipping of the Mortgaged Premises for a period in excess oftwenty (20) consecutive business days, unless caused by strike, insured casualty, Act of God or other cause beyond the reasonable cause of Borrower, in which event such suspension shall not exceed torty-tive (45) days. (b) Filinll of other liens. A lien for the performance of work or the supply of materials is filed against the Mortgage Premises and remains unsatisfied or unhanded for a period often (10) days after the date of the filing. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Rehabilitation Loan Rider. ~?iU~ LINDA SANDERS, Borrower Borrower