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FHA Nebraska Deed of Trust with MERS — 4/96 Amended 7/04 <br />4N(NE) (0407).01 Page 7 of 10 <br />201304720 <br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: <br />17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and <br />revenues of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues and <br />hereby directs each tenant of the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's <br />notice to Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shall <br />collect and receive all rents and revenues of the Property as trustee for the benefit of Lender and Borrower. This <br />assignment of rents constitutes an absolute assignment and not an assignment for additional security only. <br />If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Borrower <br />as trustee for benefit of Lender only, to be applied to the sums secured by the Security Instrument; (b) Lender shall <br />be entitled to collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay all <br />rents due and unpaid to Lender or Lender's agent on Lender's written demand to the tenant. <br />Borrower has not executed any prior assignment of the rents and has not and will not perform any act that <br />would prevent Lender from exercising its rights under this paragraph 17. <br />Lender shall not be required to enter upon, take control of or maintain the Property before or after giving <br />notice of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a <br />breach. Any application of rents shall not cure or waive any default or invalidate any other right or remedy of <br />Lender. This assignment of rents of the Property shall terminate when the debt secured by the Security Instrument is <br />paid in full. <br />18. Foreclosure Procedure. If Lender requires immediate payment in full under paragraph 9, <br />Lender may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be <br />entitled to collect all expenses incurred in pursuing the remedies under this paragraph 18, including, but not <br />limited to, reasonable attorneys' fees and costs of title evidence. <br />If the power of sale is invoked, Trustee shall record a notice of default in each county in which any <br />part of the Property is located and shall mail copies of such notice in the manner prescribed by applicable law <br />to Borrower and to the other persons prescribed by applicable law. After the time required by applicable <br />law, Trustee shall give public notice of sale to the persons and in the manner prescribed by applicable law. <br />Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder at the <br />time and place and under the terms designated in the notice of sale in one or more parcels and in any order <br />Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public announcement <br />at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at <br />any sale. <br />If the Lender's interest in this Security Instrument is held by the Secretary and the Secretary <br />requires immediate payment in full under Paragraph 9, the Secretary may invoke the nonjudicial power of <br />sale provided in the Single Family Mortgage Foreclosure Act of 1994 ( "Act ") (12 U.S.C. 3751 et seq.) by <br />requesting a foreclosure commissioner designated under the Act to commence foreclosure and to sell the <br />Property as provided in the Act. Nothing in the preceding sentence shall deprive the Secretary of any rights <br />otherwise available to a Lender under this Paragraph 18 or applicable law. <br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed <br />conveying the Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the <br />statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all costs <br />and expenses of exercising the power of sale, and the sale, including the payment of the Trustee's fees actually <br />incurred, not to exceed %% of the principal amount of the note at the time of the declaration of <br />default, and reasonable attorneys' fees as permitted by law; (b) to all sums secured by this Security <br />Instrument; and (c) any excess to the person or persons legally entitled to it. <br />19. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request <br />Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured <br />