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202404689
<br />LOAN #: 22736
<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. Mortgage Insurance.
<br />(a) Payment of Premiums; Substitution of Policy; Loss Reserve; Protection of Lender. If
<br />Lender required Mortgage Insurance as a condition of making the Loan, Borrower will pay the premiums
<br />required to maintain the Mortgage Insurance in effect. If Borrower was required to make separately des-
<br />ignated payments toward the premiums for Mortgage Insurance, and (i) the Mortgage Insurance cover-
<br />age required by Lender ceases for any reason to be available from the mortgage insurer that previously
<br />provided such insurance, or (ii) Lender determines in its sole discretion that such mortgage insurer is
<br />no longer eligible to provide the Mortgage Insurance coverage required by Lender, Borrower will pay the
<br />premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in
<br />effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in
<br />effect, from an alternate mortgage insurer selected by Lender.
<br />If substantially equivalent Mortgage Insurance coverage is not available, Borrower will continue to pay
<br />to Lender the amount of the separately designated payments that were due when the insurance cover-
<br />age ceased to be in effect. Lender will accept, use, and retain these payments as a non-refundable loss
<br />reserve in lieu of Mortgage Insurance. Such loss reserve will be non-refundable, even when the Loan is
<br />paid in full, and Lender will not be required to pay Borrower any interest or earnings on such loss reserve.
<br />Lender will no longer require Toss reserve payments if Mortgage Insurance coverage (in the amount
<br />and for the period that Lender requires) provided by an insurer selected by Lender again becomes
<br />available, is obtained, and Lender requires separately designated payments toward the premiums for
<br />Mortgage Insurance.
<br />If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required
<br />to make separately designated payments toward the premiums for Mortgage Insurance, Borrower will
<br />pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss
<br />reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agree-
<br />ment between Borrower and Lender providing for such termination or until termination is required by
<br />Applicable Law. Nothing in this Section 11 affects Borrower's obligation to pay interest at the Note rate.
<br />(b) Mortgage Insurance Agreements. Mortgage Insurance reimburses Lender for certain losses
<br />Lender may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage
<br />Insurance policy or coverage.
<br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may
<br />enter into agreements with other parties that share or modify their risk, or reduce losses. These agree-
<br />ments may require the mortgage insurer to make payments using any source of funds that the mortgage
<br />insurer may have available (which may include funds obtained from Mortgage Insurance premiums).
<br />NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 07/2021
<br />ICE Mortgage Technology, Inc. Page 8 of 14 NE21UDEED 0222
<br />NEUDEED (CLS)
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