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<br /> �, (Assignment of Rents) ,� ����� ; : �
<br /> � tHIS t-4 FAMtLY WpER is made this 27t11 daY of F@blU9f� . 1998 .end is incorporated intc and shell be '� ��:�` ,
<br /> ' deemed to amend and supptament the MoRgage, Deed of Tnut or Security Deed(che'Seeurly Instrument') of Ne same date given by � •
<br /> ' � the undersi8ned(the•eonower)co secu�e soRawers No�e co The O�erland Nattonal Ban6c o! Grend lsl�nd �
<br /> . . . �the•Lenaer� • � .
<br /> � ` .�_'^ ot the same date and covermg the FropeRy;i W. 3rd S4. G e d !sland NE 6 601 � '
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<br /> : .. ' c. (RoDerq Addroasl �..'�,� ' , µ ..
<br /> � < 7-4 FAMILY COVEN�dNTS. In 8dddion to the covenants and agreements made in the Security Instrument, Borrower and Lender , .
<br /> - F F (urther covenant and agree as follnws: -- :-. . � =-
<br /> � A ADDITIOWAL PROPERTY SUBJECT TO THE SECURITY INSYFiU0I1ENT. In add�ton ta the PropeRy descnbed ,:; � '
<br /> � " in the Security instrument,the foQawing�ems are addsd w the PropeRy descriptian,and shall also const�ute the PropeRy covered by the
<br /> � � Security Insuumant building m�teriais, appfiances and goods of every nature whatsosver naw ar hereafter Iacated rt�. an, or used, or • � ; •..'
<br /> ' hrtended to be used in cannectIOn w�h the Property, Inct�ding,but not ILnued to,those for the purposes ot supprying or distr�utm9 • '<�
<br /> ` . 't heating. cooling.etectric�yr. 9as.water,ait and IigAt, fae prevenUon ar�d wc�nguish6�g a0D8ratus. secutt'ty 8nd access conVal apparatus. ---- : � ?' : ;..,�•�:.
<br /> � , . >�. plum6i�g,bath wbs.water heaters.water c(osets.sinks,ranges�stoves. �higerators. dishwashers,disposals.wasAeis. dryers�awnings. '-._•r,-�r � • .
<br /> ' � �� stortn windows,storm daors. screens,bfmds.shades,curtains end curtafi roHs.attached m6rors,caDinets.panetlfig and atfached floor • ,:•� 's°
<br /> ` , `� cpverings now ar hereafier attached to the Property. M of which, incfuding reptacements end add�tons thereto,shan be deemed to be �.,,r; �' .'"�;�.__'�'
<br /> � and remain a part of the Property covered by the Secur�y �nswmenG All of the tot8gomg together w�fi the PropaAy descnbed in the _ _
<br /> , SecurRy Insuumept(or the leasehotd esffite U the Securfty tnstrument ts an a teasehald)are referted to m thfs 1�4 Family R'ider and the -�--
<br /> ` SeCUr�y InsWment as the'Property'. � �,��':�`-
<br /> � � � B. USE OF PROPERTY; COMPi.IABiCE WITH LAW. Borrower shatl not seek,8gree to or make e chenge(n the use af , ____
<br /> - the Property or fts mnmg c4�ss�cation, untess Lender has agreed rt� wrdh►g to the changa Borrower shall comp[y wnh ai1 laws. , • `� � -
<br /> ordinences,regulations and requfreemments of arry govemmental body app�cable to tfie Property. , --"�
<br /> � � C. SUBOROIMATE L.IEE[�11S. Ezcept as pertndted by f9deral faw, BaROwer shall not anow any tlen infedor to the Securty � —
<br /> '.�: . InsUUment to be petfected aga{nst the Ptoperty wdhout Lenders prior wr�ten parmission. ' =-.��
<br /> - �=I,;; D. RESyT LOSS INSURA[�lCE. Baaower snau maintetn �nsurance aga;nst rent loss in edd�fon to the other hasards far which _ • !��T
<br />'�z , j. insuranCe is required by Un'rfortn Covenant 5. v .��•Y°-
<br /> E °BORROWER'S RIGHTr TO REIMSTATE°DELETED. Un�orm Covenant 18 is deleted , •T"". ""'"
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<br /> ' ' r, F. 80RROWER'S OCCt1PANCX. Unfess Lender end Bottower otherwise agres in wr�7in9� the frcst sentence ►n unxortn • � ;° ^'���:
<br /> _ .. . . :`� ' .,� .. ��
<br /> Covenant 8 concemtng 8orrowers occupanCy o}tAe PropeRy is deteted. Atl rematntng covenents and agr8ements set torth(n Ungartn
<br /> Covenant S shall rema'n in 9ftect. ;��'
<br /> ,"; � G. ASSIGNiNENT OF LEASES. Upon I.enders request, BoROwer shau assien to Lender aii iaases o!the Praperty and a0 �-�"�!'T•
<br /> � '.-.r�y-:
<br /> security depasits maQe in connecUon with teases of the Property. Upon the asstgnment Lender shatl have the right to madify,extenA or " •�r ��,:_-
<br /> • ' "�i terminate the existrt�g teases end to �cecute new Ieeses. in Lendefs sote discredon. As used in tttfs peragr8ph ti,the word a���e '-�r.
<br /> i . y rt�� _
<br /> shaU mean"sublease"ff tAe 3ecurity tnshument is on a leasehoid. .� 'r' —�_�;
<br /> .r' � ".�� H. ASStGNMENT OF REMTS; APPOINTMENT OF REC�NER;LEND�R IN POSSESSION. eorrower absomtety ' '. . _,�,,,.,_-
<br /> � �� ; and uncondiUonally essigns and uansfers to Lende�ail the rents and revenues('Rents°)of the Praperty,regardiess ot to whom the Rents � , =.��f�._
<br /> '` , , , �? uf the PropeAy are payable. Borrower authorfzes Lender or Lenders agents to colfect the Rents, end e�ees that each tenant ot the . '•1'�'�'+-�
<br /> '•„ .•�i Property sha0 pay the Rents to Lender or Lenders agents. However,Bormwer shall receNe the Rents untD(i}Lender has given Borrower ��''�.;
<br />-;.;. ' ��� � notice ot defauR pursuant to paragraph 21 of the Securty tnsWment end(i�Lender has given notke to the tenent(s)that the Rents are ' � '��`�.�
<br />:'��'; . ' w be paid to Lender or Lenders agent This assignment ot Renu constitutes an ebsotute essignment and not an assignment tor ::,��'��`
<br /> f. add�Ional security onty. «�`�
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<br /> If Lender glves notice ot breach to Bortower.(�ail Rents received by Borrawer shail ba heid by 8orrower as trustee tor the benBfA of '`�`�'_
<br /> � � _� Lender only, to be appRed to the sums secured 6y the Security InstrumenC(i�Lender shail be entitied to co�ect and�eCeive sU ol the -. �,:
<br /> Ftents of the Property: (ii�Bortov+er agrees that each tenant of the Property shalt pay all Rents due and unpald to Lender or Lendefs , -'��'���
<br /> �' agents upon Lenders vrritten demand to the tenant; (tv) uNess applicable Iaw provides otherwise, all Rents colfected by Lender or „ � -"`-.
<br />-J�-� • Lende�s egents shail be applied f6st to the costs of taking controi of and managing the Property end coilectbig tha Rents,tnctudin�,but : . „�'.
<br /> not IUnfted to,attomey's fee5, recelvers fees, premiums on receivers bonds, repaU and ma�ntenance costs, insuranca premiums, taxes. :;•:�, �::�.=`r�
<br />- � � assessments and other charges on Ihe ProDerty,end then to the sums secured by the Securityr InsUument; (v)Lender,Lender's ag°nts ' . :;;�,:.__
<br /> � • or any Judiclalry appatnted receiver shatl be Iiabie to account for ony thase Rents aCNalry reCeived; and(v�Lsnder shall be entitf�0 to i '�••
<br /> have a receiver appointed to take possession ot and manage the PropeRy and col►ect the Rents and profits derived from the Property • ` �'�� "-°—�
<br /> • �'� without any showing as to the tnadequacy of tAe Property as securiry. � . . .: . ... ��-
<br /> i If the Rents of the Property are noe sutficient to covEr the costs of teking controi of and managing the Property and o!coilecting the ..
<br /> .� Rsnts any funQs expended by lender for such purposes shall became indebtedness of 8ortower to Lendar secured by the Securny .� :
<br /> • Instrument pursuant to Un�ortn Covenant 7. '
<br /> • . Bortower represents end wartants tfiat Borrower has not executed any prior assfg�iment of the Rents and has not end w�l not �: 's ,
<br /> � : peAortn any act that wouid prevent Lender from exercising its rights under this paragraph. . • '
<br /> ° • Lender, or LenQers agents or a Judicialq appotnted receiver, shall not be requtred to enter upon, take conuol of ar maintaOn!Ae . ,..
<br /> '` � Property betore or after giv:ng notice of defauR to Bartower. However, Lender, or Lenders agents or a Judicialty appointed recehrer,may •
<br /> do so at any time when e defauft occurs. My appiication o1 Rents shail not Cure or waive any defauR or invaliQete 8ny other rlght or . • . . .
<br /> ' �, , ' ' remedy of Lender. This essignment o}Rents oi the Ptoperty shall terminete when atl tha sums secured by the Securityr Instrument e�e � _
<br /> . . patd in(ull. . , �
<br /> I. CROSS-DEFAULT PROVISION. eorrowers deraun o� breacn undar eny note or agreement m whiCh LenQer has an �
<br /> interest shail be a breach under the Security InsWment and Lender may invoke eny of the remedies permitted by the SeCUrityr Instrument. .. �
<br /> • . � � BY SIQNINO BELOW,Bonower aecepts and agrees to the terms artd provisiona contained in this 1-4 Famiry Rider. � .
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<br /> • MULTISTATE 7�4 FAMILY R!DER•Fannie Mae/Freddie MaC Unitorm Instrument Form 3170 9l90 I • : �
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