201405787 - Laserfiche WebLink

Browse

��14�5757 CASE #: NE32133355a37�3 D�C ID #: ********35�208fl14 N�N-L�NIF�RM CDVENANTS.B�rrovver and Lender further�ovenan�and agree as fall�ws: 17. Assignment of Rents. To the extent permitt�d b� applicable Iaw, BorrowQr uncondi�i�nally assigns and transfers tv Lender all the rents and re�enues of the Prap�rt�. Barrower authnrizes Lender or Lender's agents to collect the rents and re�enu�s and hereby dir�cts each tenan�of the Prvper�y to pay�he rents to Lender or Lender's agents. Howe�er, prior tv Lender's natic� to Borrovver ❑f Borrower's breach of any covenant or agr�em�nt in the 5ecuri�y�nstrument,Borrower sha11 collect and rec�ive all rents and re�enues �f the Prflperty as trustee for the benefit of Lender and Bnrrower. This assignment vf rents cvnstitutes an absvlute assignment and not an assignm�nt for additi�nal se�urity on��. If Lender gi�es notice of breach to Borro�ver: �a} a11 rents recei�ed by Bor�ower shall he held by Barrovver as �rustee f�r bQnefit of Lender only, tv be applied to the sums secured by the Security Ins#rum�nt; �b} Lender sha11 be entitl�d t� �oliect and receive a11 af the rents of the Property; and (c} each tenant �f the Property shall pay all rents duQ and unpaid#❑Lender ar Lender's agent❑n Lender's written demand to th� tenant. B�rrawer has not Qxecuted any prior assignment of the ren�s and has not and vvill not perform any act�hat would pre�ent Lend�r fr�m exercising its rights under this paragraph 1?. Lender sha11 not he required tti enter upon, take contral of ar maintain the Property before vr after giving n�tice vf breach to Borrawer. Howev�r, Lender or a judicially appainted receiver may do so at any time there is a breach.Any application of rents sha11 not cure or vvai�e any default❑r invalidate any other right or remQdy af Lender.This assignm�nt of rents of the Prop�rty shall terminate when the deht secured hy the Security Instrum�nt is paid in fu11. 18. F�reclosure Pro�edur�. If Lender requires immediate payment in full under paragraph 9, Lender may invoke the power of sa�e and any other remedies permitted by app�i�able law, Lender shall be entitled to coilect all expenses ineurred in pursuing the r�medies under#his paragraph 1S,including, but not limited to,reasonable attorney�'fees and costs of title e�idence. If the power of 5aie is in�oked,Trustee shall record a notice of default in ea�h county in which any part of#he Property is io�ated and 5ha11 mail copies vf such notice in the manner prescr�hed by appticable law to Borrower and #a the other persans prescribed by applicable law. After the time required by applieable law,Trustee shall gi�e pub�ic noti�e of sale to the persons and in the manner pres�ribed by appli�able law.Trustee,without demand an Borrower,shall sei�the Property at publi� auction to the highes� bidder at the time and plaee and under the terrns designated in the notice of sale in ane ar more par�els and in any order Trus#ee determines.Trustee may postpone sale af all or any par�ei of the Property by public announcement at the time and p�ace af any pre�iou�ly schedu�ed sale.Lender or its designee may pur�hase the Praperty at any sale. If the Lender's interest in this Se�urity InStrument i5 held by the Secretary and the Secre�ary requires immediate payment in full under Paragraph 9, the Se�re�ary may in�oke the nonjudicial puwer of sale pro�ided in �he Single Family Mvrtgage Fur��losure Aet �f 1994 �"Act"} �1� i].S.C. 3751 et seq.} by requesting a fare�l�sure commissioner designated under the A�t ta commence foreclasure and to sell the Property as provided in the Act. Nothing in the pre�eding sentence shall � depri�e the 5ecretary of aay rights o#herwise a�ailable to a Lender under this Paragraph 1 S or applicable law. iTpon receipt af payment of the price bid, Trustee shall deli�er ta the purehaser Trustee's deed con�eying th�Pr�perty.The re�ital5 in the Trustee's deed shall be prima facie evidence�f the truth of the statements made therein.Trustee 5ha11 apply the praceeds of the sale in the follvwing order:�a� to all�o5ts and expenses of exercising the power of sale, and the sale,inciuding the payment of the MERS FHA Deed of Trust-NE 1 nn4M-N E�08113) Page 8�f'i 0