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202110923
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Last modified
12/27/2021 4:10:57 PM
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12/27/2021 4:10:56 PM
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DEEDS
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202110923
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202110923 <br />LOAN #: 002127136 <br />flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials <br />containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 16, <br />"Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that <br />relate to health, safety or environmental protection. <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 <br />and revenues of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and <br />revenues and hereby directs each tenant of the Property to pay the rents to Lender or Lender's agents. <br />However, prior to Lender's notice to Borrower of Borrower's breach of any covenant or agreement in the <br />Security Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee <br />for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment <br />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) <br />Lender shall be entitled to collect and receive all of the rents of the Property; and (c) each tenant of the <br />Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's written demand to <br />the tenant. <br />Borrower has not executed any prior assignment of the rents and has not and will not perform any <br />act that 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 <br />giving notice of breach to Borrower. However, Lender or a judicially appointed receiver may do so at <br />any time there is a breach. Any application of rents shall not cure or waive any default or invalidate any <br />other right or remedy of Lender. This assignment of rents of the Property shall terminate when the debt <br />secured by the Security Instrument is 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 <br />shall be entitled to collect all expenses incurred in pursuing the remedies under this paragraph <br />18, including, but not 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 <br />any part of the Property is located and shall mail copies of such notice in the manner prescribed <br />by applicable law to Borrower and to the other persons prescribed by applicable law. After the time <br />required by applicable law, Trustee shall give public notice of sale to the persons and in the manner <br />prescribed by applicable law. Trustee, without demand on Borrower, shall sell the Property at public <br />auction to the highest bidder at the time and place and under the terms designated in the notice <br />of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of <br />all or any parcel of the Property by public announcement at the time and place of any previously <br />scheduled sale. Lender or its designee may purchase the Property at 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 <br />power of sale provided in the Single Family Mortgage Foreclosure Act of 1994 ("Act") (12 U.S.C. <br />3751 et seq.) by requesting a foreclosure commissioner designated under the Act to commence <br />foreclosure and to sell the Property as provided in the Act. Nothing in the preceding sentence <br />shall deprive the Secretary of any rights otherwise available to a Lender under this Paragraph 18 <br />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 <br />of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: <br />(a) to all costs and expenses of exercising the power of sale, and the sale, including the payment <br />of the Trustee's fees actually incurred, not to exceed 0.00 % of the principal <br />amount of the note at the time of the declaration of default, and reasonable attorneys' fees as <br />permitted by law; (b) to all sums secured by this Security Instrument; and (c) any excess to the <br />person or persons legally entitled to it. <br />19. Reconveyance. Upon payment of all sums secured by this Security lnstrument, Lender shall request <br />Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing <br />debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty <br />and without charge to the person or persons legally entitled to it. Such person or persons shall pay any <br />recordation costs. <br />20. Substitute Trustee. Lender, at its option, may from time to time remove Trustee and appoint a <br />successor trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this <br />Security Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed <br />to all the title, power and duties conferred upon Trustee herein and by applicable law. <br />21. Request for Notices. Borrower requests that copies of the notices of default and sale be sent to <br />Borrower's address which is the Property Address. <br />FHA Nebraska Deed of Trust - 4/96 <br />ICE Mortgage Technology, Inc. <br />Page 6 of 7 NEEFHADE 0914 <br />NEEFHADE (CLS) <br />
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