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201201581
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3/19/2012 3:45:18 PM
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3/1/2012 8:48:02 AM
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DEEDS
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201201581
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�O��Q�5�� <br />paid '17vs Security Instrument does not authorize acceleration ar foreclosure if not permitted by regulaflons <br />of the Secretary. <br />(e) Mortgage Not Inenred. Bonower agrees t1�at if this Security Instrument and the Note are not <br />determined to be eligible for insurance under the National Aousing Act within 6 0 DAYS <br />from the date hereof, I.ender may, at its oprion, require immediate payment in full of all swns secured by <br />tlus Security Instr�ent A wtitten statement of atry authorized agent of the Secretary dated subsequent to <br />6 0 DAYS from the date hereo� declining to insure tbis Security Instnmment and <br />the Note, shall be d�med conclusive proof of such ineligibility. Notwithstanding the foregoing, this option <br />may not be exercisedby Lender when the unavailability of insurance is solely due to Lender' s failute to remit <br />a mortgage insurance premium to the Secretary. <br />10. Reinetatement Bonower has a right to be reinstated if Lender has required immediate payment in full <br />because of Borrower' s failure to pay an amount due �mder the Note or Uvs Sec�uity Inslrumen� This right applies <br />even after foreclosiae proceediags ate instituted To reinstate the Security Instrument, Borrower shall tender in a <br />lump sum all amotmts required to bring Borrower's account ctarent including, to the exteat they aze obligations of <br />Borrowerunder this Security Instrument, foreclosure costs and reasonable and customary attomeys' fees and expenses <br />properly associated with the foreclosure proceeding. Upon reinstatement by Bottower, this Security Instrument and <br />the obligations tUat it sec�ues shall remain in effect as if Lender had not required immediate payment in full. <br />However, Lendet is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the <br />commencement of foreclosure proceedings within two years immediately preceding the commencement of a current <br />foreclosure proceeding, (u� reinstatement will preclude foreclosure on different grounds in the furiae, or (iii) <br />reinstatement will adversely affect the priority of the lien created by Uvs Security Instn�ent <br />11. Borrower Not Released; Forbearance by I.ender Not a Waiver. Extension of the time of payment or <br />modificatian of amorti�ation of the sums secured by this Security Instrument granted by Lender to any successor in <br />interest of Borrower shall not o�rate to release the liability of the original Bonower or Borrower's succeasors in <br />iaterest Lender shall not be required to commence proceedings against any successor in interest or refuse to extend <br />time for payment or otherwise modify amorti�tion of the s�s seciued by Uus Security Instrument by reason of any <br />demand made by the original Borrower or Bonower' s successors in interest Any forbearance by Lender in exercising <br />any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. <br />12. Sncc�sors and Assigns Bonnd; Joint and Several Liebllity; Co-S9gners. The covenants and agreement� <br />of this Secutity InstNment shall bind and benefit the successors and assigns of Lender and Bonower, subject to the <br />provisions of paragraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Borrower who <br />co-signs this Security Instrument but does not execute the Note: (a) is co-signing ihis Security Inshument only to <br />mortgage, grant and convey that Bonower' s interest in the Property under the terms of this Seciuity Instrume�; (b) <br />is not personally obligated to pay the smns sec�ued by this Security Instaument; and (c) agr�s that I,ender and any <br />other Borrowet may agree to extend, modify, forbear or make any accommodations with regard to the terms of this <br />Security Instn�ent or the Note without that Bonower's consent <br />13. NoHces. Any notice to Borrower provided for in this Security Instrument sl�all be given by delivering it or <br />by mailing it by Srst class mail unless applicable law requires use of another method. The notice shall be directed <br />to the Property Addreac or any other address Bonower desighates by notice to Lender. Any notice to Lender shall <br />be given by first class mail to Lender' s address s� herein or any address Lender designates by notice to Borrower. <br />t�ny notice provided for in this Secutity Instrument shall be deemed to have been given to Borrower ot Lender when <br />given as provided in this ParagraPh. <br />14. Governing Law; Severability. This Security Instrument shall be governed by federal law aad the law oF <br />the jurisdiction in wlrich the Property is located. In the event that any provision or clause of this Security Instrumem <br />or the Note conflicts with applicable law, such conflict shall not affect other provisions of Uus Seciuity Instrument <br />or the Note wlrich can be given effect without the conflicting pro�ision. To this end the provisions of this Security <br />Inshvment and the Note aze declazed to be severable. <br />15. Borrower's Copy. Borrower shali be given one conformed copy ofthe Note and oftivs Security Instrument <br />16. Ha�ardons Sabstances. Borrower shall not cause or permit the presence, use, disposal, storage, or release <br />of aay H�rdous Substances on or in the Properiy. Borrower shall not do, nor allow anyone else do, anything <br />affecting the Properiy that is in violation of any Environmental Law. The preceding two sentences shall not apply <br />to the presence, use, or storage on the Properiy of small quantities of Hazardous Substances that aze generally <br />recognized to be appropriate to normal residential uses and to maintenance of the Properiy. <br />Banower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other <br />action by any governmental or regulatory agency or private party involving the Property and any Hazardous <br />Substance or Environmental Law of wlrich Borrower has actual lmowledge. If Bonower learns, or is notified by any <br />governmental or regulatory authority, that any removal or other remediation of any H�ardous Substances affe,ctimg <br />the Property is nece�ry, Bonower shall promptly take all neceasazy remedial actions in accordance with <br />Environmental Law. <br />As used in this paragraph 16, "Hazardous Substances" aze those substances defined as toxic or hazardous <br />substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toacic <br />petroleum products, to�cic pesticides and herbicides, volatile solvents, matetials containing asbestos or formaldehyde, <br />and radiaactive materials. As used in this paragraph 16, "Environmental I.aw" means federal laws and laws of the <br />jurisdiction where the Property is located that relate to health, safety or environmental protection. <br />FHA NFBRASKA D� OF TRUST - MERS �Bgk � <br />NmOTZ.FHA 10/27H 1 Page 4 of 7 www.d�naglc.aom <br />�I�IWI�I�ll�ll�l��llllllull�ll� <br />
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