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98- i�z�s1
<br /> ASSIGNMENT OF RENTS RIDER
<br /> � THIS ASSIGNMENT OF HENTS RiDER is made and executed this 27th day of March . 1998 . and is
<br /> incorporated into and shall be deemed to amend and supplement the Mortgage or Deed of Trust, hereinaiter referred to as the "Security
<br /> Instrument", of the same date given by the undersigned, hereinafter referred to as the "Borrower", to secure Borrowers fndebtedness,
<br /> nereinafter referred to as tne ^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 �ocated at:
<br /> 3605 ARABIAN CIRCLE GRAND ISLAND NEBRASKA 68801
<br /> (Prop�rty Addnss)
<br /> WITNESSETH:
<br /> WHEREAS, Borrower and Lender have agreed that any rents and profits attributable to the propeRy should constitute additional security
<br /> to the Lender for the payment of the Note;
<br /> NOW, THEREFORE, It is agreed that the Security Instrument shall be amended hereby and deemed to inciude the following provisions:
<br /> 1. Asskanment of Rents and Lender Rental Collection Ri�hts. BoROwer hereby absolutely and uncondftionally assigns all rents, issues
<br /> and profits of the property to Beneficiary. Lender shall have the right, power and euthorky durhg the continuance of the Security Instrument
<br /> to collect the rents, issues and profits of the property and of any personal property located thereon wfth or without taking possession o} the
<br /> property affected hereby. Lender, however, hereby consents to Borrowers collection and retention of such rents, Issues and profits as they
<br /> accrue and become payable, so long as Borrower is not, at such time, h defauR wkh respect to payment of any indebtedness secured
<br /> hereby, or in the performance of any agreement hereunder.
<br /> 2. A000intment of Receiver. If any event of defauft in respect to the Securfty Instrument shall have occurred and be continuing, Lender,
<br /> as a matter of right and without notice to Borrower or anyone claimfng under Borrower, and wkhout 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 receiver of the property.
<br /> 3. Ri�lht to Possession. In case of defauR in the payment of the said princfpal Note or interest, or any part thereof, as ft shall mature,
<br /> or in the case of failure to keep or perform any of the convenants or agreements contained in the Securky Instrument, then the Lender, its
<br /> successors or assigns, shall be and is hereby authorized and empowered to take immediate possession of the said premises therein
<br /> described and to collect the rents there(�om, and to apply the proceeds thereof to the payment of the Note.
<br /> 4. Ao�lication 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, receive�'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 account only
<br /> tor those rents actualy received.
<br /> 5. Construction of Provisions. Each of the provisions contained in this Assignment of Rents Rider and the Security Instrument shall,
<br /> unless othervvise specifically required, be construed in accordance with Nebraska law, and in the event any provision herein of therein
<br /> contained shall be determined by a cou�t 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 specifically 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 Security Instrument shall continue in full force and effect.
<br /> IN WITNESS WHEREOF, Borrower has executed this Assignment of s Rider on the date first noted a ove.
<br /> �
<br /> eo«ow�r O E T ROLAND GILBREATH
<br /> e �a e ���� 4�
<br /> Q�aF_
<br /> eo��owe� FAY IRENE GILBRE T �
<br /> STATE OF NEBRASKA
<br /> COUNTY OF HALL � ss:
<br /> On this 271h day of March 1998 , before me, the undersigned, a Notary Public duly commissioned and
<br /> qualisied tor said county, personaily came ROBERT ROLAND GILBREATH AND FAYE IRENE GILBREATH HUSBAND
<br /> AND WIFE , 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 . N RASKA in ounty, the
<br /> date aforesaid.
<br /> ,� /�l
<br /> No ary Public yy�LLIAM L. MCLELLA
<br /> �
<br /> My Commission expires: AUGUST 12 2000 c
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