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202403761
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8/8/2024 1:02:52 PM
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8/8/2024 1:02:48 PM
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202403761
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202403761 <br />(c) Additional Amounts Secured. Any amounts disbursed by Lender under this Section <br />9 will become additional debt of Borrower secured by this Security Instrument. These amounts <br />may bear interest at the Note rate from the date of disbursement and will be payable, with such <br />interest, upon notice from Lender to Borrower requesting payment. <br />(d) Leasehold Terms. If this Security Instrument is on a leasehold, Borrower will comply <br />with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold <br />and the 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 <br />that 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 <br />by Borrower must be held by Borrower as trustee for the benefit of Lender only, to be applied to <br />the sums secured by the Security Instrument; (ii) Lender will be entitled to collect and receive all <br />of the Rents; (iii) Borrower agrees to instruct each Tenant that Tenant is to pay all Rents due and <br />unpaid to Lender upon Lender's written demand to the Tenant; (iv) Borrower will ensure that each <br />Tenant pays all Rents due to Lender and will take whatever action is necessary to collect such <br />Rents if not paid to Lender; (v) unless Applicable Law provides otherwise, all Rents collected by <br />Lender will be applied first to the costs of taking control of and managing the Property and <br />collecting the Rents, including, but not limited to, reasonable attorneys' fees and costs, receiver's <br />fees, premiums on receiver's bonds, repair and maintenance costs, insurance premiums, taxes, <br />assessments, and other charges on the Property, and then to any other sums secured by this Security <br />Instrument; (vi) Lender, or any judicially appointed receiver, will be liable to account for only <br />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 <br />control of and managing the Property and of collecting the Rents, any funds paid by Lender for <br />such purposes will become indebtedness of Borrower to Lender secured by this Security <br />Instrument pursuant to Section 9. <br />(d) Limitation on Collection of Rents. Borrower may not collect any of the Rents more <br />than one month in advance of the time when the Rents become due, except for security or similar <br />deposits. <br />(e) No Other Assignment of Rents. Borrower represents, warrants, covenants, and agrees <br />that Borrower has not signed any prior assignment of the Rents, will not make any further <br />assignment of the Rents, and has not performed, and will not perform, any act that could prevent <br />Lender from exercising its rights under this Security Instrument. <br />(1) Control and Maintenance of the Property. Unless required by Applicable Law, <br />Lender, or a receiver appointed under Applicable Law, is not obligated to enter upon, take control <br />of, or maintain the Property before or after giving notice of Default to Borrower. However, <br />NEBRASKA --Single Family — Fannie Mae/Freddie Mac UNIFORM INSTRUMENT <br />Form 3028 07/2021 <br />Page 10 of 20 <br />
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