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201201�92 If the Property is abandoned by Borrower, or if, after notice by Lenders to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lenders within 30 days after the date the notice is given, Lenders are authorized to collect and apply the proceeds, at their option, either to restore or repair the Property or to pay the sums secured by this Security Instrument, whether or not then due. Unless Lenders and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the yearly payments referred to in paragraph 1 or change the amount of such payments. 9. Borrower Not Released; Forbearance by Lenders Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lenders to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lenders shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower his successors in interest. Any forbearance by Lenders in exercising any right or remedy shall not be a wa.iver of or preclude the exercise of any right or remedy. 10. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this Security. Instrument shall bind and benefit the successors and assigns of Lenders and Borrower. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Inshument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instiument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lenders and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Inshvment or the Note without that Borrower's consent. 11. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice sha11 be directed to the Property address or any other address Borrower designates by notice to Lenders. Any notice to Lenders shall be given by first class mail to Lenders' address stated herein or any other address Lenders designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lenders when given as provided in this paragraph. 12. Governing Law; Severability. This Security Instrument sha11 be governed by federal law and the law of the State of Nebraska. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security instrument and the Note are declared to be severable. 13. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 14. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lenders' prior written consent, Lenders may, at their option, require immediate payment in full of all sums secured by this Security Inshuxnent. However, this option shall not be exercised by Lenders if exercise is prohibited by federal law as of the date of this Security Instrument. If Lenders exercise this option, Lenders sha11 give Borrower notice of acceleration. T'he notice shall provide a period of not less than 3 0 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lenders may invoke any remedies pennitted by this Security Instrument without further norice or demand on Borrower. 15. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrurnent discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pay Lenders all sums which then would be due under this Security Instrument and the Note had no acceleration occurred; (b) cure any default of any other covenants or agreements; (c) pay all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) take such action as Lenders may reasonably require to assure that the lien of this Security Instrument, Lenders' rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. This right to reinstate shall not apply in the case of acceleration under paragraph 14. 3