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<br /> 1-4 �A44fllLY RIDER " � �
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<br /> �` (�►ss�gnm�nt of R�nts) � ' , � _
<br /> THIS 1�FAMILY RIOEA is made this 27tii day of F8l�CU8N . 19�7 . and �s mcorporated mto and shaU be F ' ' � '"_
<br /> deemed to amend and supplement the Mortgage, Deed of Trust or Secl:ity Deed (the "Securiry Insvument') of the same date grven by the � , 't.
<br /> ' unders�qned(the 'eorrower•)to secure sorrowers Hote co The Qveriand fVaHonal Bank otr Grand lsfand � . -
<br /> . �the 'Lender') of the same date and covenng the � _ .
<br /> ! Property described in the Security Instrument and located at f � �
<br /> ' 516 516i/2 518 520 W 4th St Grand Isiand Nebraska 68801 **See Legal Description Belov : �
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<br /> ,� (ProPerty AaCressj j. _ .�_, _ _____ ,
<br /> 1-4 FAMILY C011EI11NNTS. In addition to tfie covenants and agreements made in the Security�nstrument. Borrower and Lender � `: �;::
<br /> 1 turther covenant and agree as follows: . `
<br /> A. ADD{TIONAL PROPERTY SUBJ'c�T TO THE SECURiTY lNSTRIDMENT. �n addro- '_ :'-a �ct�1 �����' f • ' _
<br /> • � the Security Instrument the tollowing items are added to the Properiy desaiption. and shall aiso consGri�:=_ "e Property covered by tha � '. -�_-- - .
<br /> Securiry Instrument buiidng materials. appliances and goods of every naUire whatsoever now or hereafter located in, on. or used, or intended � ' =':��s--
<br /> � to be used in connection with the Properly. induding. 6ut not limRed to,those tor the purposes of suppi}nng or disiribuung heating. cool�ng, F . _ _ .•
<br /> �T��J.h
<br /> electricily, gas, water. air and light, fire prevention and e�nguish�ng appardtus. security end access control apparatus, plumbing. ba t h tu bs. � , `,=r;j+�„�,�_
<br /> water heaters, water cioseis. sinks. ranges. stoves. reirige+gtors, dishwashers, disposats. washers, dryers. awnings. sYOrtn windows. stortn .�
<br /> doors, screens, biinds, shades, curtains and curtain rods.attached mirrors. ca6inets. Danel6nq and attached floor coverings now er hweafter E � ..- ,,,s, ,
<br /> ' .;c�"_•_
<br /> attached to the Property.afl of wmcn, including replacements antl additions thereto.shall be deemed to be and remam a part ot the Property t -.-�--.ry:-- -
<br /> co,rered by the Secunry Instrument. All of the toregoing togeiher with the Property desc�bea m the Securtry �nsVument (or the ieasenoid . _._. __ -
<br /> estate i1 the 3ecurtty InsUUment is on a leasehold)are referred to m ihis 1�4 Famity Rider and the Securrty Instrumert as the 'Properry" ._��-_
<br /> B. USE OF PROPERTY; COMPLIANCE WITH LAW. 8ortower shall not seek agree to or make a change m ihe use of ;;��,�
<br /> the PropeRy or�ts zoning Class�iceUon. mUess Lender has agraed m �vrhing to the change Bortower shall compy wdh all laws. ordmances. ___—_
<br /> � regulation3 and requUemeMS of eny govemmental body appiicabt9 to the Property __ _
<br /> C. StlBORO1f�iATE UENS. Except as pertnitted 6y federal law. Bortower shall not a!low any lien intenor to the Secunry Insuument 4—_��
<br /> to be peRected agalnot the Property wfthout Lender's prior wdtten pertntssion °�•- -
<br /> � D. REt�YT LOSS INSURANCE. eortower shaB maintaU� Insuranee agamst rent loss m addiuun to the other haz�rds tor which - ���-.,��y_-
<br /> in5urance Is requlred by Unttortn Covenant 5. �
<br /> ` E. "80Ri�OWER'S RIGPfT TO REINSTATE" DELET�D. unitorm Covenant te is de�eted- f. G �, . a�_ - -
<br /> F. BOpqOWER'S OCCUPANCY. Unless lender and eorrower othen�vlse agree m writing, the first sentence �n Unitortn ••, �'=
<br /> •� Covenant 8 conceming Borrower's occupancy ot the Properly is deleted. All temaining covenants and agreements set forth in Unifortn _,.:: �
<br /> � �• Covenant 8 shall remain in eHect.
<br /> . y Gi, ASSl�NiIAENT OF LEASES. Upon Lender's request, Borrower shaD assign to Lender alt leases of the Properly end all -
<br /> securtly deposits made in connectlon with teases of the Properry. Upon the assignment. Lender shall have the right to madity. extend or ±
<br /> � . i tertnfiate the e x i s t ing teases an d to e x e c u t e n e w l e a s e s. i n L e n d e r s s o l e d i s c r e U o n. A s u sed in this para gra ph G. the word 'lease' shall ..�. _ :'r.::.
<br /> �t msan 'sublease°il the Securiry InsWment is on a leasehotd. ��'.�, '�' �`
<br /> i H. ASSlGl41MENT OF REi►iTS; APPOItdTMENT OF RECENER; LENDEH IN POSSESSION. BoROwer ebsolutety �"`'�.7_.3 '?:�,:��
<br /> and uncondhionally asslgns and transters to Lender all the rents and revenues ('Rents')of the Property,regardless of to whom the Rents of ,�- - �<<� `.
<br /> the Properry are payab�e. Borrower authoraes Lender or Lender's agents to coUect the Rents. and aqrees that each tenant of the P►operty ��r. .f:;y� `•:
<br /> � shall pay tne Rents to Lender or Leader s agents. ttowever. Borrower shall receive the Rents untit O Lendv has given Bonower noUce o1 Y�� : ; zi
<br /> defauft pursuant to paragraph 21 of the Securiry Instrument end Q� Lender has given notice to the tenant(s)tPiat the Rents ere to be pald to _ �� � !
<br /> . lender or Lendeis agent. This assignment of Rents canstitutes an absolute assignmenl and not an assi�ment for add'Rlonal secuiity onty. �__�:;:-:� ��� ..
<br /> i(i.mider gives noUce of breach to Bonower. n aIl Rents received by Bortower shall be held by BoROwer as Uustee tor the benefil of . �< <;
<br /> Lender only,to be appGed to the sums secured by the Security Inswmen� n Lender sha11 be entiUed to collect and recelve all ot the Rents "�!�• �- . � ,_
<br /> � >.. .f._ . •.
<br /> �� of the PropeRy; m Bortower agrees that each tenant ot the Property shall pay all Rents due and unpaid tv Lender or Lenders agents upon ,�,P;,,_
<br /> Lender's written demand to the tenant: (rv)untess applieable law provldes othe�wise,all Rents collected by Lc^.der or Lender's agents sha0 6e ,+:_f �
<br /> apptied flrst to the costs of taWng control of and managing the Property and coltectlng the Rents,incfudrtg,a:.�t not timfted to.attomey's fees. ;,.�,;,:� ��.�';-
<br /> : -,w.:: 6.:
<br /> re�iver's fees. premiums on receher's bonds, repalr and maintenance costs.Insurance premfums,taxes.a==essmectits and other charges on :;;.,,:,,- �;�,;_�
<br /> �• � •-�-�� .
<br /> 4..' the Properiy,and then to the sums secured by the Secudry Instrument; (v)Lender, Lender s agerrts or any j4dlclally appointed receiver shall ,� .. -
<br /> , be liable to account for onry those Rents actually receaed: and(v� Lender sfiall be entitted to have a recetver appointed�o teke possesslon � =� ,-
<br /> � of end manage the Properry and co(tect the Rents and profits defired bom the Properiy without any showing es to the tnadequacy ot the '���s• • -� I .�.
<br /> Properly as security. ,.:}_.:
<br /> If the Rents o1 the Property ere not suttident to cover the costs of talting conVol of and managing the Property and ot collecting the ..��.,.��
<br /> .'" Rents any tunds expended by Lender tor such purposes shall become tndebtedness of BoROwer to Lender seared by the Security :� �e
<br /> InsVument pursuant to UnHorm Covenant 7. ,• ����Y�
<br /> Bortower represents and wartants that Bortower has not executed any pdor assignment of the Rents and has not and wifl not peAorm ..,� ^:_. _
<br /> any act that would prevent Lender irom exerclsing its rights under th(s paragraph. : -
<br /> Lender, or Lender's agents or a judicfally appolnted recelver, shall not be requlred to enter upon,tel<e ccntrot of or maintaln ihe PropeRy ��µ•—
<br /> betore or after glving noUce of detauft to Barrower. However.Lender, or Lender's agents or a judic�aUy eppolMed recelver,may do so et eny
<br /> Y
<br /> ' time when a defautt oxurs. Any appRcaUon ot Rents shap not cure or waive any dafauft or Invalldate art�► other dght or remedy of Lender. . . _
<br /> This assignment of Rents o11he Roperry shall terminate when all the sums secured by the Securiry tnshument are paid In tull. �._ - ;
<br /> ' I. CROSS-DEFAULT PROVlSION. eonower's detault or breach under eny note or agreement in whlcb Lender has an interest
<br /> shall be e breach under the Searity(nstrument and Lender may invoke any o1 the remedies pertnitted by the Securiry InsUumen� . - . � . :
<br />' . BY SI(iNINO BELOW.Bortower accepts and agrees to the tetms and provlstons contained in thls 1-0 Famity Rider. � ' .
<br /> ' P 6 H Pr erties, L.C. .
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<br /> � B...�N.•, P. 6 ec t • • . .
<br /> ��Lot Sia (6). in Block Thirty-Five (35), .
<br /> • in the Original Tavn, City of Grand � .
<br /> � Island. Aebsaoita Sy: ��rv�-•-� ��•�� [Seaq . • .
<br /> : �,,,�°•'•• Suz e H. Sc I
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<br /> � �°"0�•..' Pt�illip Cbriet ea �
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<br /> B'"�u..� Jodi Chri ens�n 4� � � . � •
<br /> 4I Form 3170 9/90 �
<br /> ! MULTISTATE td FAMILY RIOER Fann�e MaeiFreddie Mac Unitorm Instrume�t! �
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