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202401809
<br />LOAN #: 251643
<br />turned on or off. Although Lender may take action under this Section 9, Lender is not required to do so
<br />and is not under any duty or obligation to do so. Lender will not be liable for not taking any or all actions
<br />authorized under this Section 9.
<br />(b) Avoiding Foreclosure; Mitigating Losses. If Borrower is in Default, Lender may work with
<br />Borrower to avoid foreclosure and/or mitigate Lender's potential losses, but is not obligated to do so
<br />unless required by Applicable Law. Lender may take reasonable actions to evaluate Borrower for avail-
<br />able alternatives to foreclosure, including, but not limited to, obtaining credit reports, title reports, title
<br />insurance, property valuations, subordination agreements, and third -party approvals. Borrower autho-
<br />rizes and consents to these actions. Any costs associated with such loss mitigation activities may be
<br />paid by Lender and recovered from Borrower as described below in Section 9(c), unless prohibited by
<br />Applicable Law.
<br />(c) Additional Amounts Secured. Any amounts disbursed by Lender under this Section 9 will
<br />become additional debt of Borrower secured by this Security Instrument. These amounts may bear inter-
<br />est at the Note rate from the date of disbursement and will be payable, with such interest, upon notice
<br />from Lender to Borrower requesting payment.
<br />(d) Leasehold Terms. If this Security Instrument is on a leasehold, Borrower will comply with all
<br />the provisions of the lease. Borrower will not surrender the leasehold estate and interests conveyed or
<br />terminate or cancel the ground lease. Borrower will not, without the express written consent of Lender,
<br />alter or amend the ground lease. If Borrower acquires fee title to the Property, the leasehold and the fee
<br />title will not merge unless Lender agrees to the merger in writing.
<br />10. Assignment of Rents.
<br />(a) Assignment of Rents. If the Property is leased to, used by, or occupied by a third party ("Tenant"),
<br />Borrower is unconditionally assigning and transferring to Lender any Rents, regardless of to whom the
<br />Rents are payable. Borrower authorizes Lender to collect the Rents, and agrees that each Tenant will
<br />pay the Rents to Lender. However, Borrower will receive the Rents until (i) Lender has given Borrower
<br />notice of Default pursuant to Section 26, and (ii) Lender has given notice to the Tenant that the Rents
<br />are to be paid to Lender. This Section 10 constitutes an absolute assignment and not an assignment for
<br />additional security only.
<br />(b) Notice of Default. If Lender gives notice of Default to Borrower: (i) all Rents received by Borrower
<br />must be held by Borrower as trustee for the benefit of Lender only, to be applied to the sums secured by
<br />the Security Instrument; (ii) Lender will be entitled to collect and receive all of the Rents; (iii) Borrower
<br />agrees to instruct each Tenant that Tenant is to pay all Rents due and unpaid to Lender upon Lender's
<br />written demand to the Tenant; (iv) Borrower will ensure that each Tenant pays all Rents due to Lender and
<br />will take whatever action is necessary to collect such Rents if not paid to Lender; (v) unless Applicable
<br />Law provides otherwise, all Rents collected by Lender will be applied first to the costs of taking control of
<br />and managing the Property and collecting the Rents, including, but not limited to, reasonable attorneys'
<br />fees and costs, receiver's fees, premiums on receiver's bonds, repair and maintenance costs, insurance
<br />premiums, taxes, assessments, and other charges on the Property, and then to any other sums secured
<br />by this Security Instrument; (vi) Lender, or any judicially appointed receiver, will be liable to account for
<br />only those Rents actually received; and (vii) Lender will be entitled to have a receiver appointed to take
<br />possession of and manage the Property and collect the Rents and profits derived from the Property
<br />without any showing as to the inadequacy of the Property as security.
<br />(c) Funds Paid by Lender. If the Rents are not sufficient to cover the costs of taking control of and
<br />managing the Property and of collecting the Rents, any funds paid by Lender for such purposes will
<br />become indebtedness of Borrower to Lender secured by this Security Instrument pursuant to Section 9.
<br />(d) Limitation on Collection of Rents. Borrower may not collect any of the Rents more than one
<br />month in advance of the time when the Rents become due, except for security or similar deposits.
<br />(e) No Other Assignment of Rents. Borrower represents, warrants, covenants, and agrees that
<br />Borrower has not signed any prior assignment of the Rents, will not make any further assignment of the
<br />Rents, and has not performed, and will not perform, any act that could prevent Lender from exercising
<br />its rights under this Security Instrument.
<br />(f) Control and Maintenance of the Property. Unless required by Applicable Law, Lender, or a
<br />receiver appointed under Applicable Law, is not obligated to enter upon, take control of, or maintain the
<br />Property before or after giving notice of Default to Borrower. However, Lender, or a receiver appointed
<br />under Applicable Law, may do so at any time when Borrower is in Default, subject to Applicable Law.
<br />(g) Additional Provisions. Any application of the Rents will not cure or waive any Default or invalidate
<br />any other right or remedy of Lender. This Section 10 does not relieve Borrower of Borrower's obligations
<br />under Section 6.
<br />This Section 10 will terminate when all the sums secured by this Security Instrument are paid in full.
<br />11. Assignment and Application of Miscellaneous Proceeds; Forfeiture.
<br />(a) Assignment of Miscellaneous Proceeds. Borrower is unconditionally assigning the right to
<br />receive all Miscellaneous Proceeds to Lender and agrees that such amounts will be paid to Lender.
<br />NEBRASKA—Single Family — Fannie Mae/Freddie Mac UNIFORM INSTRUMENT (MERS) Form 3028 07/2021 (rev. 7/23)
<br />Modified for FHA 1/2023 (HUD Handbook 4000.1)
<br />ICE Mortgage Technology, Inc. Page 8 of 14 NEEFHA23DE 0823
<br />NEEDEED (CLS)
<br />04/24/2024 07:46 AM PST
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