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<br />1-4 FAMILY RIDER
<br />
<br />200708742
<br />
<br />(Assignment of Rents)
<br />
<br />THIS 1 A FAMILY RIDER is made this 11th day of October, 2007, and is incorporated into and shall be deemed to amend and
<br />supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undersigned (the
<br />"Borrower") to secure Borrower's Note to CORNERSTONE BANK (the "Lender") of the same date and covering the Property described in
<br />the Security Instrument and located at:
<br />
<br />1615 N Custer Ave, Grand Island, NE 68801
<br />
<br />[Property Address]
<br />
<br />1-4 FAMILY COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender
<br />further covenant and agree as follows:
<br />A. ADDITIONAL PROPERTY SUBJECT TO THE SECURITY INSTRUMENT. In addition to the Property described in
<br />Security Instrument, the following items now or hereafter attached to the Property to the extent they are fixtures are added to
<br />the Property description, and shall also constitute the Property covered by the Security Instrument: building materials, appliances
<br />and goods of every nature whatsoever now or hereafter located in, on, or used, or intended to be used in connection with the
<br />Property, including, but not limited to, those for the purposes of supplying or distributing heating, cooling, electricity, gas, water,
<br />air and light, fire prevention and extinguishing apparatus, security and access control apparatus, plumbing, bath tubs, water
<br />heaters, water closets, sinks, ranges, stoves, refrigerators, dishwashers, disposals, washers, dryers, awnings, storm windows,
<br />storm doors, screens, blinds, shades, curtains and curtain rods, attached mirrors, cabinets, paneling and attached floor coverings,
<br />all of which, including replacements and additions thereto, shall be deemed to be and remain a part of the Property covered by
<br />the Security Instrument. All of the foregoing together with the Property described in the Security Instrument (or the leasehold
<br />estate if the Security Instrument is on a leasehold) are referred to in this 1-4 Family Rider and the Security Instrument as the
<br />"Property. "
<br />B. USE OF PROPERTY; COMPLIANCE WITH LAW. Borrower shall not seek, agree to or make a change in the use of
<br />the Property or its zoning classification, unless Lender has agreed in writing to the change. Borrower shall comply with all laws,
<br />ordinances, regulations and requirements of any governmental body applicable to the Property.
<br />C. SUBORDINATE LIENS. Except as permitted by federal law, Borrower shall not allow any lien inferior to the
<br />Security Instrument to be perfected against the Property without Lender's prior written permission.
<br />D. RENT LOSS INSURANCE. Borrower shall maintain insurance against rent loss in addition to the other hazards for
<br />which insurance is required by Section 5.
<br />E. "BORROWER'S RIGHT TO REINSTATE" DELETED. Section 19 is deleted.
<br />F. BORROWER'S OCCUPANCY. Unless Lender and Borrower otherwise agree in writing, Section 6 concerning
<br />Borrower's occupancy of the Property is deleted.
<br />G. ASSIGNMENT OF LEASES. Upon Lender's request after default, Borrower shall assign to Lender all leases of the
<br />Property and all security deposits made in connection with leases of the Property. Upon the assignment, Lender shall have the
<br />right to modify, extend or terminate the existing leases and to execute new leases, in Lender's sole discretion. As used in this
<br />paragraph G, the word "lease" shall mean "sublease" if the Security Instrument is on a leasehold.
<br />H. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. Borrower absolutely and
<br />unconditionally assigns and transfers to Lender all the rents and revenues ("Rents") of the Property, regardless of to whom the
<br />Rents of the Property are payable. Borrower authorizes Lender or Lender's agents to collect the Rents, and agrees that each
<br />tenant of the Property shall pay the Rents to Lender or Lender's agents. However, Borrower shall receive the Rents until (i)
<br />Lender has given Borrower notice of default pursuant to Section 22 of the Security Instrument, and (ii) Lender has given notice to
<br />the tenant(s) that the Rents are to be paid to Lender or Lender's agent. This assignment of Rents constitutes an absolute
<br />assignment and not an assignment for additional security only.
<br />If Lender gives notice of default to Borrower: (i) all Rents received by Borrower shall be held by Borrower as trustee for
<br />the benefit of Lender only, to be applied to the sums secured by the Security Instrument; (ii) Lender shall be entitled to collect
<br />and receive all of the Rents of the Property; (iii) Borrower agrees that each tenant of the Property shall pay all Rents due and
<br />unpaid to Lender or Lender's agents upon Lender's written demand to the tenant; (iv) unless applicable law provides otherwise,
<br />all Rents collected by Lender or Lender's agents shall be applied first to the costs of taking control of and managing the Property
<br />and collecting the Rents, including, but not limited to, attorney's fees, receiver's fees, premiums on receiver's bonds, repair and
<br />maintenance costs, insurance premiums, taxes, assessments and other charges on the Property, and then to the sums secured
<br />by the Security Instrument; (v) Lender, Lender's agents or any judicially appointed receiver shall be liable to account for only
<br />those Rents actually received; and (vi) Lender shall be entitled to have a receiver appointed to take possession of and manage the
<br />Property and collect the Rents and profits derived from the Property without any showing as to the inadequacy of the Property as
<br />security.
<br />
<br />If the Rents of the Property are not sufficient to cover the costs of taking control of and managing the Property and of
<br />collecting the Rents any funds expended by Lender for such purposes shall become indebtedness of Borrower to Lender secured
<br />by the Security Instrument pursuant to Section 9.
<br />Borrower represents and warrants that Borrower has not executed any prior assignment of the Rents and has not
<br />performed, and will not perform, any act that would prevent Lender from exercising its rights under this paragraph.
<br />Lender, or Lender's agents or a judicially appointed receiver, shall not be required to enter upon, take control of or
<br />maintain the Property before or after giving notice of default to Borrower. However, Lender or Lender's agents or a judicially
<br />appointed receiver, may do so at any time when a default occurs. Any application of Rents shall not cure or waive any default or
<br />invalidate any other right or remedy of Lender. This assignment of Rents of the Property shall terminate when all the sums
<br />secured by the Security Instrument are paid in full.
<br />I. CROSS-DEFAULT PROVISION. Borrower's default or breach under any note or agreement in which Lender has an
<br />interest shall be a breach under the Security Instrument and Lender may invoke any of the remedies permitted by the Security
<br />Instrument.
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<br />MULTI STATE 1-4 FAMILY RIDER-FanniuMae.IF_M8CU~IFORM l~smUMENT
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<br />Paga 1 of 2
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<br />Fonn 3170 1101
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