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200103932
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Last modified
10/14/2011 3:34:36 AM
Creation date
10/20/2005 8:34:59 PM
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DEEDS
Inst Number
200103932
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24. FORBEARANCE. <br />200103932 <br />(a) Lender may (but shall not be obligated to) agree with Borrower, from time to <br />time, and without giving notice to, or obtaining the consent of, or having any effect upon the <br />obligations of, any guarantor or other third party obligor, to take any of the following actions: <br />extend the time for payment of all or any part of the Indebtedness; reduce the payments due <br />under this Instrument, the Note, or any other Loan Document; release anyone liable for the <br />payment of any amounts under this Instrument, the Note, or any other Loan Document; accept a <br />renewal of the Note; modify the terms and time of payment of the Indebtedness; join in any <br />extension or subordination agreement; release any Mortgaged Property; take or release other or <br />additional security; modify the rate of interest or period of amortization of the Note or change the <br />amount of the monthly installments payable under the Note; and otherwise modify this <br />Instrument, the Note, or any other Loan Document. <br />(b) Any forbearance by Lender in exercising any right or remedy under the Note, this <br />Instrument, or any other Loan Document or otherwise afforded by applicable law, shall not be a <br />waiver of or preclude the exercise of any other right or remedy. The acceptance by Lender of <br />payment of all or any part of the Indebtedness after the due date of such payment, or in an <br />amount which is less than the required payment, shall not be a waiver of Lender's right to require <br />prompt payment when due of all other payments on account of the Indebtedness or to exercise <br />any remedies for any failure to make prompt payment. Enforcement by Lender of any security <br />for the Indebtedness shall not constitute an election by Lender of remedies so as to preclude the <br />exercise of any other right available to Lender. Lender's receipt of any awards or proceeds <br />under Sections 19 and 20 shall not operate to cure or waive any Event of Default. <br />25. LOAN CHARGES. If any applicable law limiting the amount of interest or <br />other charges permitted to be collected from Borrower is interpreted so that any charge provided <br />for in any Loan Document, whether considered separately or together with other charges levied <br />in connection with any other Loan Document, violates that law, and Borrower is entitled to the <br />benefit of that law, that charge is hereby reduced to the extent necessary to eliminate that <br />violation. The amounts, if any, previously paid to Lender in excess of the permitted amounts <br />shall be applied by Lender to reduce the principal of the Indebtedness. For the purpose of <br />determining whether any applicable law limiting the amount of interest or other charges <br />permitted to be collected from Borrower has been violated, all Indebtedness which constitutes <br />interest, as well as all other charges levied in connection with the Indebtedness which constitute <br />interest, shall be deemed to be allocated and spread over the stated term of the Note. Unless <br />otherwise required by applicable law, such allocation and spreading shall be effected in such a <br />manner that the rate of interest so computed is uniform throughout the stated term of the Note. <br />26. WAIVER OF STATUTE OF LIMITATIONS. Borrower hereby waives the <br />right to assert any statute of limitations as a bar to the enforcement of the lien of this Instrument <br />or to any action brought to enforce any Loan Document. <br />27. WAIVER OF MARSHALLING. Notwithstanding the existence of any other <br />security interests in the Mortgaged Property held by Lender or by any other party, Lender shall <br />have the right to determine the order in which any or all of the Mortgaged Property shall be <br />subjected to the remedies provided in this Instrument, the Note, any other Loan Document or <br />01- 327514.1 <br />FANNIE MAE MULTIFAMILY SECURITY INSTRUMENT - Form 4028 4/98 Page 28 <br />NEBRASKA <br />
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