|
20120234�
<br />Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have
<br />enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other
<br />period as Applicable Law may specify for reinstatement) before sale of the Property pursuant to any power of sale
<br />contained in this Security Instrument; or (b) eniry of a judgment enforcing this Security Instrument. Those
<br />conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Inshument
<br />and the Contract as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c)
<br />pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys'
<br />fees to the extent permitted by law; and (d) takes such action as Lender may reasonably require to assure that the
<br />lien of this Security Instrument, Lender's rights in the Properly and Bortower's obligarion to pay the sums secured
<br />by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument
<br />and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this
<br />right to reinstate shall not apply in the case of acceleration under the section titled Transfer of the Pxoperty or a
<br />Beneficial Interest in Borrower.
<br />Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any
<br />Hazardous Substances on or in the Properly. Bonower shall not do, nor allow anyone else to do, anything affecting
<br />the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the
<br />presence, use, or storage on the Property of small quantities of Hazardous Substances that aze generally recognized
<br />to be appropriate to normal residential uses and to maintenance of the Property.
<br />Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by
<br />any governmental or regulatory agency or private party involving the Property and any Hazazdous Substance or
<br />Environmental Law of which Borrower has actual knowledge. If Borrower leams, or is norified by any
<br />govemmental or regulatory authority, that any removal or other remediation of any Hazardous Substance affecting
<br />the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with
<br />Environmental Law.
<br />As used in this paragraph, °Hazardous Substances" are those substances defined as toacic or hazardous substances
<br />by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum
<br />products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and
<br />radioactive materials. As used in this paragraph, "Environmental Law" means federal laws and laws of the state o�
<br />Nebraska that relate to health, safety or environmental protection.
<br />Acceleration; Remedies. Lender shall give notice to Bor�oWe� prior to �cceleration follpWing BqrroWer�s
<br />breach of any covenant ot� agreement in this 5ecurity Instrument or the Con�ract under �vhich acceleration
<br />is permitted (but not prior to acceleration under the section titled Transfer of the Proper,ty or a Beneficiai
<br />Interest in Borrower, unless Applicable Law provides otherWise). The noHce shall specify: (a) the default;
<br />(b) the action required to cure the default; (c) a date, not less than the minimum number of days
<br />established by Applicable Law from the date the notice is given to BorroWer, by wbich the default must be
<br />cured; and (d) that failure to cure «he default on or before the date specified in khe noHce may result in
<br />acceleration of the sums secured by this Security Instrument and sale of the P�operty. To khe eztent
<br />permitted by law, the notice shall further inform BorroWer of the right to reinstate after &cceleration �nd
<br />the right to bring a court action to assert the non-existence of a default o� any other defense of Borro�yer to
<br />accelerarion and sale. If the default is not cured on or befpre the date specified in the notice, Lender at it�
<br />option may require immediate paymen� in full of all sums secured by this Security Instrument Withou�
<br />further demand and may invoke the power of sale and any other remedies perputted by Applicable �
<br />To the extent permitted by law, Lender shall be entitled to collect all ezpenses incurred in pursuing the
<br />remedies provided in this Section, including, but not limited to, reasonable attorneys' fees and costs of title
<br />evidence.
<br />If the power of sale is invoked, Trustee shall record � notice of default in each county in Which any part of
<br />the Property is located and shall mail copies of such notice in the manner prescribed by Applicable LaW to
<br />Borrower and to the other persons prescribed by Applicable Law. After the time required by Applicable
<br />Law, Trustee shall give pubGc notice of sale to the persons and in the manner prescribed by Applicable
<br />Law. Trustee, without demand on Borrower, shall sell the Property at public auction to the highest 6idder
<br />at the rime and place and under the terms designated in the notice of sale in one or more parcels and in any
<br />order Trustee determines. Trustee may postpone sale of all or any parcel of the PrAperty by ppblic
<br />announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase
<br />the Property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying
<br />the Property. The recitals in the Trustee's deed shall be prima facie evidence of the t�uth of the statements
<br />made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all costs and
<br />expenses of exercising the power of sale, and the sale, including the paymept of the �'rustee's fees actually
<br />incurred and reasonable attorneys' fees as permitted by Applicable Law; (b) to all sums aecured by thi$
<br />Security Instrument; and (c) any egcess to the person or persons legally entitled ko it.
<br />ReconVeyance. Upon payment of all sums secured by this Security Instrument and termination of Bonower's right
<br />to obtain further advances under the Contract, Lender shall request Trustee to reconvey the Property and shall
<br />surrender this Security Inshument and all contracts evidencing debt secured by this Security Instrument to Trustee.
<br />Trustee shall reconvey the Property without warranty to the person or persons legally entitled to it. Such person or
<br />persons shall pay any recordation costs. Lender may charge such person or persons a fee for reconveying the
<br />� 2004-201 I Complieuce Systems, Inc. ADCD-D674 - 2010L1.15.461
<br />Consuma Real Esta[e - Securhy Invtrument DL2036 Pege 4 of 5 www.wmpliancavyst�s.com
<br />
|