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202402373
<br />the purpose of protecting Lender's interest in the Property and/or rights under this Security
<br />Instrument, including its secured position in a bankruptcy proceeding. Securing the Property
<br />includes, but is not limited to, exterior and interior inspections of the Property, entering the
<br />Property to make repairs, changing locks, replacing or boarding up doors and windows, draining
<br />water from pipes, eliminating building or other code violations or dangerous conditions, and having
<br />utilities turned on or off. Although Lender may take action under this Section 9, Lender is not
<br />required to do so and is not under any duty or obligation to do so. Lender will not be liable for not
<br />taking any or all actions authorized under this Section 9.
<br />(b) Avoiding Foreclosure; Mitigating Losses. If Borrower is in Default, Lender may work
<br />with Borrower to avoid foreclosure and/or mitigate Lender's potential losses, but is not obligated to
<br />do so unless required by Applicable Law. Lender may take reasonable actions to evaluate
<br />Borrower for available alternatives to foreclosure, including, but not limited to, obtaining credit
<br />reports, title reports, title insurance, property valuations, subordination agreements, and third -party
<br />approvals. Borrower authorizes and consents to these actions. Any costs associated with such loss
<br />mitigation activities may be paid by Lender and recovered from Borrower as described below in
<br />Section 9(c), unless prohibited by 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
<br />interest at the Note rate from the date of disbursement and will be payable, with such interest, upon
<br />notice from Lender to Borrower requesting payment.
<br />(d) Leasehold Terms. If this Security Instrument is on a leasehold, Borrower will comply with
<br />all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the
<br />fee 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
<br />("Tenant"), Borrower is unconditionally assigning and transferring to Lender any Rents, regardless
<br />of to whom the Rents are payable. Borrower authorizes Lender to collect the Rents, and agrees that
<br />each Tenant will pay the Rents to Lender. However, Borrower will receive the Rents until (i)
<br />Lender has given Borrower notice of Default pursuant to Section 26, and (ii) Lender has given
<br />notice to the Tenant that the Rents are to be paid to Lender. This Section 10 constitutes an absolute
<br />assignment and not an assignment for additional security only.
<br />(b) Notice of Default. If Lender gives notice of Default to Borrower: (i) all Rents received by
<br />Borrower must be held by Borrower as trustee for the benefit of Lender only, to be applied to the
<br />sums secured by the Security Instrument; (ii) Lender will be entitled to collect and receive all of the
<br />Rents; (iii) Borrower agrees to instruct each Tenant that Tenant is to pay all Rents due and unpaid
<br />to Lender upon Lender's written demand to the Tenant; (iv) Borrower will ensure that each Tenant
<br />pays all Rents due to Lender and will take whatever action is necessary to collect such Rents if not
<br />paid to Lender; (v) unless Applicable Law provides otherwise, all Rents collected by Lender will be
<br />applied first to the costs of taking control of and managing the Property and collecting the Rents,
<br />including, but not limited to, reasonable attorneys' fees and costs, receiver's fees, premiums on
<br />receiver's bonds, repair and maintenance costs, insurance premiums, taxes, assessments, and other
<br />charges on the Property, and then to any other sums secured by this Security Instrument; (vi)
<br />Lender, or any judicially appointed receiver, will be liable to account for only those Rents actually
<br />received; and (vii) Lender will be entitled to have a receiver appointed to take possession of and
<br />manage the Property and collect the Rents and profits derived from the Property without any
<br />showing as to the inadequacy of the Property as security.
<br />NEBRASKA- Single Family - Fannie Mae/Freddie Mac UNIFORM
<br />INSTRUMENT 451 y UWP.
<br />FORMRM3028 7/21 Initials:
<br />Laser Forms Inc. #FNMA3028MERS 7/21 Page 10 of 21
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