201201581 - Laserfiche WebLink

Browse

�0�20�� NON COVENANTS Bonower and Lender fiufher covenant and agree as follows: 17. As�lgnme� of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the Property. Borrower authorizes Lender or Lender' s agents to collect the rents and revenues and hereby directs each tenant of the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Borrower' s breach af any covenant or agre,ement in the Security Instnmment, Borrower shall collect and receive all rents and revenues of the Property as trustee far the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security oniy. If Leader gives notice of breach to Borrower: (a) all rents received by Bonower shall be held by Borrower as trustee for benefit of Lender only, to be applied to the simms sec�ued by the Security Instrument; (b) Lender shall be entiUed to collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent an Lender's written demand to the tenant Bortowet has not executed any prior assignment of the rents and has not and will not perform any act that would prevent Lender from exercising its right� under this paragraph 17. Lendet shall not be required to entet upon, take control of or maintain the Property before or after giving notice of breach to Bortower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any applicarion of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This assignment of rents of the Properry shall terminate when the debt se�ued by the Security Instrument is paid in full. 18. Foreclosare Procednre. If Lender reqaires immediate payment in faD ander paregraph 9, Lender may invoke the power of sale and any other remedies permitted by appHcable Iaw. I.ender shall be entitled to coIlect aIl egpenses incurred in pnrsaing the remedies provided in this paragraph 18, including, bat not limited to, reasonable attorneys' f� and costs of title evidence. If the power of eale is invoked, Trust� sha� re�rord a no�ice of default in e�ach connty in which any part af the Property is located and shall mall copi� of snch nottce in the manner prescrlbed by applicable law to Borrower and to the other petsoas prescrlbed by appllcable law. After the Hme reqnired by appllcable law, Trustee, shall give public notice of sale to the persons and in tt►e manner prescrlbed by appHcable lew. Trostee, wlthoat demand on Borrower, shall seD the Property at pablic auctlon to the high�t bidder at the dme and place and nnder the terms deslgnated in the nol3ce of sale in one or more parcels and in any order Truetee determines. Trastee may postpone sale of all or any parcel of the Property by pubHc announcement at the time and place of any previously schednled sale. Lender or ita designee may purchase the Property at any salc. Upon receipt of payment of the price bid, Trastee shall deliver to the pnrchaser Trastee's deed conveying the Praperty. T6e recitals in ffie Trastee's deed shall be prima facie evldence of the trath of the atatements made therein. Trnsta shall apply the proceeds of the sale in t6e following order: (a) to all costs and eapenaes of egerdsing the power of sale, and the sale, inclading the payment of the Trastee's fees actaally incurred and reasoaable attorneys' f� as permitted by appllcable law; (b) to all anms secared by t6is SecnrHy Instrament; and (c) any e%cess to the person or persons legally endtled to it. If the Lender's interest in this Securlty Instrament is held by the S�retary and the Secretary requires immediatc payment in faD under paragraph 9, the Secretary may invoke the nonjadicial power of sale provlded in U►e Single Family Mortgage For�losare Act of 1994 ("Act'� (12 U.S.C. 3751 et sc .) by reqaesdng a foreclosure wmmissioner deaignated anderthe Act to cammence foreclosure and to seD t6e Property as pravided in the Ac� Nothing in the preceding sentence sha➢ deprive the Secretary of any rlghts otherwlse available to a Lender under t6is paragraph 18 or applicable law. 19. Reconveyance. Upon payment ofall sums seciuedby this Security Instrument, Lender shall request Trustee to reconvey the Property and shall surrender this Security Inatrument and all notes evidencing debt secured by this Security Inslrument to Trustee. Trustee shall reconvey the Property without warranty to the person or persons legally entifled to it Such person or persons shall pay any recordation costs. Leader may charge such person ot persons a fee for reconveying the Properiy, but only if the fee is paid to a third party (such as the Tnistee) for services rendered and the charging of the fee is permitted under applicable law. 20. SnbsHtate 1Yust�. Lender, at its option, may firom time to time remove Trustee and appoint a successor trustee to any Trustee appointed hereunder by an instrument recorded in ffie county in wlrich this Security Inslrument is recorded Without conveyance of the Property, the successor trustee shall succeed to all the title, power and dtrties conferred upon Trustee herein and by applicable law. 21. Reqnest for Nodces. Horrower requests that copies of the norice of default and sale be sent to Borrower' s address which is the Property address. 22. Ridera to this Secarity Instrament If one or more riders are eacecuted by Borrower and recorded together with this Security Instrument, the covenants of each such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security Instrmuent. [Check applicable lmx(es)] � Condominium Rider � Graduated Payment Rider � Growing Equity Rider � Planned Unit Development Rider � Adjustable Rate Rider � Rehabilitation Loan Ridet � Non-Owner Occupancy Rider � Other [SPecifY� FHA NEBRASKA DEED OF TRUST - MERS DorlRe�e� NmOTZ.FHA 10/27/11 Page 5 of 7 www.dccmaglc.aom oioi� ioi m� iio i i n i a o i i iinii ii�i ii �