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2022061/5 14. That the whole of said principal sum remaining unpaid shall immediately become due and payable upon the occurrence of any one or more of the following events: (A) At such time as any action or proceeding in commenced to foreclosure upon any prior or subsequent mortgage, deed of trust or lien secured by the Property. (B) If converted to rental, it is my understanding the loan will be in default. This default may be dealt with in the following way: 1. Total repayment of the principal of this note remaining unpaid on the date of default together with all amounts advanced as a loan pursuant to separate the memorandum of understanding executed by borrower on this in favors of the LENDER following all requirements under the Owner -Occupied Rehabilitation Loan Program. (C) At such time as the property is sold or conveyed in any manner to another party/entity. (D) At such time as the property ceases to be the primary residence of the borrower(s). Homeowner(s) Initials ST— CT 15. Upon payment of all sums as herein provided, Lender shall direct Trustee to reconvey the property and shall surrender this security instrument and the Note secured. Trustee shall reconvey the property without warranty and without charge to the persons legally entitled to it. 16. Lender, at its option, may from time to time remove Trustee and appoint a successor Trustee by an instrument recorded the county in which this security instrument is recorded. Without conveyance of the property, the successor Trustee shall succeed to all the title, power, and duties conferred upon Trustee herein and by Nebraska law. 17. Borrowers request that copies of all notices provided herein be sent to Borrowers' address, which is 302 E. 13th Street, Wood River, NE 68883. IN WITNESS WHEREOF, the Borrowers have signed this Agreement. Steven D. Timmon Cheryl K. Timons STATE OF NEBRASKA) )ss. COUNTY OF Hall) The foregoing instrument was acknowledged before me on this a Ind day of , 9 , by Steven D. Timmons & Cheryl K. Timmons, husband and wife. 411111. ' 4344ki Notary Pu. is Page 3 of 3 GENERAL NOTARI= Stage of Nebraska SARA J. ARNETT My comm. Exp. Dec 13. 2025