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202405176
<br />LOAN #: 257287
<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. 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 loss 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 />NEBRASKA — Single Family — Fannie Mae/Freddie Mac UNIFORM INSTRUMENT (MERS) Form 3028 07/2021
<br />ICE Mortgage Technology, Inc. Page 8 of 14 NE21 EDEED 0222
<br />NEEDEED (CLS)
<br />10/16/2024 02:38 PM PST
<br />11111P IADIMN
<br />ISMat 11111
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