201702081 - Laserfiche WebLink

Browse

2� 17�2�81 to them in the Loan Agreement N�N-UNIF��M C�VENANTS. Borrawer and�ender further cavenant and agree as f�llows: 23. Assignment of Rents, Borrower unconditionally assigns and transfers�o Lender al�the rents and re�enues�f the Property. Borrower authori2es Lender nr Lender's agents to collect the ren�s and revenues and hereby directs each tenant of the Property to pay the r�nts to �ender or Lender's agen�ts. Hawever, priar to Lender'� notice to Barrower of Borrawer's breach of any covenant ar agreement in the Security�nstrument,Bonrower sha11 collect and recei�e all rents and re�enues of the Property as truste�for the benefit af Lender and Borrower.This assignment of rents constitutes an absolute assignment and not an assignment far additional security only. If Lender gi�es notice of breach to Sorrawer: �a� a11 rents recei�ved by Borrower shall be held by Borrawer as Trustee for benefit af Lender an1y,ta be applied ta the sums secured by this Security Instrument;�h}L�nder shall be entitled ta coi�ect and receive ail of the rents �f the Property; and�c} each tenant af the Property shall pay alt rents due and unpaid to Lender or Lender's agent on Lender's written demand to the tenant. Borrower has nat executed any prior assignment �f the ren�s and has not and wil� n�ot perfarm any act that would pre�ent Lender fram exer�ising its rights under this Paragraph 23. Lender sha��nat be required to enter upan,take control af or maintain the Property bef�re or af�er gi�ing noti�e of breach to Borraw�r.Howe�er,Lender or a judiciaily appointed receiver may do so at any time there is a breach.Any app�icatian af rents sha11 not cure or wai�e any default or invalidate any other right or remedy ❑f Lender. This assignment of rents of the Property shal�terminate when the debt secured by this Secur�ty�nstrumen�is paid in full. 24. Foreclasure Procedure. If Lender requires immediate payment in fult under Paragraph lU,�endQr may in�oke the power af saie and atty other remedies permitted by app�icable law, Lender shall be entitled to cvllect all expenses inCurred in pursuing the remedies pro�ided in this Paragraph Z4, inc�uding, hut not limited to,reasonable attorneys'fees and costs of title evidence. If the pawer of sale is invoked,Trustee shall record a n�ti�e of default in ea�h county in which any part of the Praperty is located and sha�l mail copies of such notice in the rnanner prescribed by appli�able law to Barrower and to the ather persans prescribed by applicable law.After the time required by applicable law, Trustee shall gi�e public notice of sate to the persons and in the manner prescribed by app�icable law.Trustee, without demand on B�rr�wer,5ha11 sell the Property at public�uction#�th� �iighest bi�d�r at th�time and place and under the terms designated in the notice of saie in one or more parc�ls and in any flrder TruSte� determines. Trustee may postpane sa�e of all ar any parcel of the Property by public announcernent at the time and pla�e of any pre�iously scheduled sale. Lender or its designee may purchase the Property at any sale. [Tpon re�e�gt af payment of the�ric�bid,Trustee shall�eliyer t�th�pur�haser Trustee's deed canveying th� Property.The recitals in the Trustee's deed sha��be prima fa�ie e�idQnce of the truth af the statements made therein. Trustee shai� apply the proceeds of the sa�e in the following order: �a} to all costs and expenses �f exercising th� power of sale, and the sale, including the payment of the Trustees fees actuatly incurred and reasonabie attorneys' fees as perrnitted by applicable taw;�b}to all sums secured by this Seeurity YnStrument; and(c}any excess to th�persan or persons Iegaily�ntitled ta it. 25. Lien Priarity. The fuil amount secured by this Security�nstrument shall hav�the same priority o�er any other liens on the Property as if the fuil amnunt had been disbursed on the date the �nitxal disbursernent was made, �ne Re�erse Mortgage,LL� Loan�riginator:Bruce 41sen Company-NMLS#:2052-Loan Number:3369956b73 Loan�riginator NM�S#:942398 Nebraska-�s�1l�I�RS S'ecurrty Irzstrument(�4dju,rtable� Page 9 of 11 �Bay Docs,LLC �31411Z�15 q�336995��73 D�33 �38 �9��