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ASSIGNMENT OF RENTS RIDER � 9$- 1�;�4
<br /> - THIS ASSIGNMENT OF RENTS RIDER is made and executed this 20th day of March . 1998 , and is
<br /> incorporated into and shall be deemed to amend end supplement the Mortgage or Deed of Trust, hereinafter referred to as the "Security
<br /> Instrument", of the same date given by the undersigned, hereinafter referred to as the "Borrower", to secure BoROwers indebtedness,
<br /> hereinafter referred to as the "Note", to UNITED NEBRASKA BANK
<br /> , hereinafter referred to as the "Lender", of the same date and covering the
<br /> property described in the Security Instrument and located at:
<br /> 4360 CAMBRIDGE RD GRAND ISLAND NEBRASKA 68801
<br /> (Property Addrese)
<br /> WITNESSETH:
<br /> WHEREAS, Borrower and Lender have agreed that any rents and profks attributable to the property shoutd constftute addkional security
<br /> to the Lender for the payment of the Note;
<br /> NOW, THEREFORE, It is agreed that the Security Inshument shall be amended hereby and deemed to include the following provisions:
<br /> 1. Assianment of Rents and Lender Rental Collection Riahts. Borrower hereby absolutely and uncondkionaly assfgns all rents, issues
<br /> and profits of the property to Beneficiary. Lender shall have the right, power end authoriry durhg the continuance of the Securfty Instrument
<br /> to collect the rents, issues and profRs of the property and of sny personal property located thereon wfth or wkhout taking possesslon of the
<br /> property affected hereby. Lender, however, hereby consents to Borrower's collectlon and retent�on of such rents, Issues and proffts as they
<br /> accrue and become payable, so long as Borrower is not, at such time, in default with respect to payment of eny indebtedness secured
<br /> hereby, or in the pe�formance of any agreement hereunder.
<br /> 2. Apoointment of Receiver. If any event of defauk in respect to the Securky Instn�ment shall have occuRed and be continuing, Lender,
<br /> as a matter of right and without notice to Borrower or anyone claiming under Borrower, and without regard to the value of the trust estate or
<br /> the interest of the Borrower therein, shall have the right to apply to any court having jurisdiction to appoint a receNer of the property.
<br /> 3. Ris�ht to Possession. In case of defauR in the payment of the sa(d principal Note or interest, or any part thereof, as it shall meture,
<br /> or in the case of failure to keep or perform any of the convenants or agreements contafned in the Security Instrument, then the Lender, its
<br /> successors or assigns, shall be and is hereby authorized and empowered to take immediate possession of the said prem(ses therein
<br /> described and to collect the rents therefrom, and to apply the proceeds thereof to the payment of the Note.
<br /> 4. Application of Rents. Issues and Profits. All rents collected by Lender or the receiver shall be applied first to payment of the costs
<br /> of management of the property and collection of rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and
<br /> reasonable attorney's fees, and then to the sums secured by the Security Instrument. Lender and the receiver shall be liable to eccount only
<br /> for those rents actually received.
<br /> 5. Construction of Provisions. Each of the provisions contained in this Assignment of Rents Rider and the Security Instrument shall,
<br /> unless otherwise specifically required, be construed in accordance with Nebraska Iaw, and in the event any provision herein of therein
<br /> contained shall be determined by a court of competent jurisdiction to be unenforceable, the same shall be construed as though suCh
<br /> unenforceable provision were not part hereof or thereof.
<br /> 6. Effect of Rider. Except as spec'rfically mod'rfied by or inconsistent with this Assignment of Rents Rider or by any other applicable
<br /> rider, all of the terms and provisions contained in the Securky Instrument shall continue in full force and effect.
<br /> IN WITNESS WHEREOF, BoROwer has executed this Assignment of Rents Rider on the date first noted ab e.
<br /> 9orrow r ,
<br /> MICH L FOLLMER
<br /> «�w INDA A FOLLME
<br /> STATE OF NEBRASKA
<br /> COUNTY OF HALL � ss:
<br /> On this 20th day of March , 1998 , before me, the undersigned, a Notary Public duly commissloned and
<br /> qualified for said county, personally came MICHAEL E FOLLMER AND IINDA A FOLLMER HUSBAND AND WIFE
<br /> , to
<br /> be the identical person(s) whose name(s) is/are subscribed to the foregoing instrument, and he/she/they acknowledge the execution thereof
<br /> to be his/her/their voluntary act and deed.
<br /> Witness my hand and Notarial Seal at GRAND ISLAND NEBRASKA in said county, the
<br /> date aforesaid.
<br /> III GENERAL NOiARY�Stale ol Nebraska �
<br /> SHERRI L.0'CALLAGHAN �- D
<br /> My Comm.Exp.Sept.18,l999 ary Public SHERRI L. O'CAL HAN
<br /> My Commission expires: SEPTEMBER 28. 1998
<br /> F�0875.LM0 (8/94)
<br /> 703
<br />
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