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20260050 <br />when such taxes, special assessments and premium will be due. <br />Said sums to be held by the LENDER in trust to pay the taxes, <br />special assessments and insurance premiums. Any deficiency in <br />the amount of any aggregate monthly payment (principal, interest, <br />taxes, special assessments and insurance premium) shall <br />constitute a default. The arrangements provided for in this <br />subparagraph are for the added protection of the LENDER, and <br />entail no responsibility on the part of the LENDER or TRUSTEE. <br />9. If BORROWERS fail to perform the covenants and <br />agreements herein contained, LENDER may do and pay for whatever <br />is necessary to protect the value of the property and LENDER'S <br />rights in the property, including the paying of any sum secured <br />by a lien which has priority over this security instrument, <br />appearing in Court, paying reasonable attorney fees and entering <br />the property to make repairs. Any amount disbursed by LENDER <br />under this paragraph shall become an additional debt of BORROWERS <br />secured by this security instrument, to bear interest from the <br />date of disbursement and said amount, together with the then <br />unpaid principal amount, shall bear interest at the highest <br />lawful rate until refunded by BORROWERS. <br />10. BORROWERS covenant and agree that a failure to make any <br />payment, either principal or interest, on the note secured hereby <br />when due and payable or a failure to comply with any of the <br />covenants and agreements herein made shall cause the whole sum of <br />money hereby secured to become immediately due and collectible at <br />the option of the LENDER, and LENDER shall have the right to <br />cause notice of default to be given and the premises to be sold <br />as provided herein. <br />11. The proceeds of any condemnation award are hereby <br />assigned and shall be paid to LENDER and shall be applied to the <br />sums secured by this security instrument, whether or not then <br />due, with any excess paid to BORROWERS. <br />12. Any extensions or modifications of the loan granted by <br />LENDER to any successor in interest of BORROWERS shall not <br />operate to release the liability of the original BORROWERS or <br />BORROWERS' successors in interest. Any forbearance by LENDER in <br />exercising any right or remedy shall not be a waiver of or <br />preclude the exercise of any right or remedy. <br />13. Any notice to BORROWERS provided for in this security <br />instrument shall be given by delivering it or mailing it by First <br />Class Mail unless Nebraska law requires use of another method, at <br />the BORROWERS' last known address. <br />14. This security instrument and the note which it secures <br />shall be governed by Nebraska law. <br />15. LENDER shall give notice to BORROWERS following <br />BORROWERS' breach of any covenant or agreement in this security <br />agreement and the note which it secures. The notice shall <br />specify: <br />(a) The default; <br />(b) The action required to cure the default; <br />(c) A date not less than thirty (30) days from the <br />date the notice is given to BORROWERS by which the <br />default must be cured, and; <br />