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202502086
<br />Tenant will pay the Rents to Lender. However, Borrower will receive the Rents until (i) Lender has
<br />given Borrower notice of Default pursuant to Section 26, and (ii) Lender has given notice to the Tenant
<br />that the Rents are to be paid to Lender. This Section 10 constitutes an absolute assignment and not an
<br />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 to
<br />Lender upon Lender's written demand to the Tenant; (iv) Borrower will ensure that each Tenant pays
<br />all Rents due to Lender and will take whatever action is necessary to collect such Rents if not paid to
<br />Lender; (v) unless Applicable Law provides otherwise, all Rents collected by Lender will be applied
<br />first to the costs of taking control of and managing the Property and collecting the Rents, including,
<br />but not limited to, reasonable attorneys' fees and costs, receiver's fees, premiums on receiver's bonds,
<br />repair and maintenance costs, insurance premiums, taxes, assessments, and other charges on the
<br />Property, and then to any other sums secured by this Security Instrument; (vi) Lender, or any judicially
<br />appointed receiver, will be liable to account for only those Rents actually received; and (vii) Lender
<br />will be entitled to have a receiver appointed to take possession of and manage the Property and collect
<br />the Rents and profits derived from the Property without any showing as to the inadequacy of the
<br />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
<br />of the Rents, and has not performed, and will not perform, any act that could prevent Lender from
<br />exercising 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
<br />the Property before or after giving notice of Default to Borrower. However, Lender, or a receiver
<br />appointed under Applicable Law, may do so at any time when Borrower is in Default, subject to
<br />Applicable Law.
<br />(g) Additional Provisions. Any application of the Rents will not cure or waive any Default or
<br />invalidate any other right or remedy of Lender. This Section 10 does not relieve Borrower of
<br />Borrower's obligations 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 Lender
<br />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
<br />designated payments toward the premiums for Mortgage Insurance, and (i) the Mortgage Insurance
<br />coverage required by Lender ceases for any reason to be available from the mortgage insurer that
<br />previously provided such insurance, or (ii) Lender determines in its sole discretion that such mortgage
<br />insurer is no longer eligible to provide the Mortgage Insurance coverage required by Lender, Borrower
<br />will pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance
<br />previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage
<br />Insurance previously in effect, from an alternate mortgage insurer selected by Lender.
<br />If substantially equivalent Mortgage Insurance coverage is not available, Borrower will continue to
<br />pay to Lender the amount of the separately designated payments that were due when the insurance
<br />coverage ceased to be in effect. Lender will accept, use, and retain these payments as a non-refundable
<br />loss reserve in lieu of Mortgage Insurance. Such loss reserve will be non-refundable, even when the
<br />Loan is paid in full, and Lender will not be required to pay Borrower any interest or earnings on such
<br />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 />VO1.1.1.31656
<br />NEBRASKA-Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT (MERS) Form 3028 07/2021
<br />Wolters Kluwer Financial Services, Inc. 02/2025
<br />25.2.0.6137J20250303N Page 8 of 15
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