|
99 110829
<br /> 7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this Deed of Trust, or if
<br /> any action or proceeding is commenced which materially affects Lender's interest in the Property, then Lender, at Lender's option, upon notice
<br /> to Borrower, may make such appearances, disburse such sums, including reasonable attorneys' fees, and take such action as is necessary to
<br /> protect Lender's interest. If Lender required mortgage insurance as a condition of making the loan secured by this Deed of Trust, Borrower shall
<br /> pay the premiums required to maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance
<br /> with Borrower's and�_ender's written agreement or applicable law.
<br /> Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate, shall become additional
<br /> indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment, such amounts shall be
<br /> payable upon notice from Lender to Borrower requesting payment thereof. Nothing contained in this paragraph 7 shall require Lender to incur
<br /> any expense or take any action hereunder.
<br /> 8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that Lender
<br /> shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property.
<br /> 9. Condemnation. The proceeds of any award or claim �or damages, direct or consequential, in connection with any condemnation or
<br /> other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender, subject
<br /> to the terms of any mortgage, deed of trust or other security agreement with a lien which has a priority over this Deed of Trust.
<br /> 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization
<br /> of the sums secured by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release, in any
<br /> manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence proceedings
<br /> against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Deed o# Trust by
<br /> reason of any demand made by the original Borrower and Borrower's successors in interest. Any forbearance by Lender in exercising any right
<br /> or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br /> , 11. Successors and Assigns Bound; Joint and Several Liability; Co-Stgners. The covenants and agreements herein contained shall
<br /> bind, and the rights hereunder shali inure to, the respective successors and assigns of Lender and Borrower, subject to the provisions of
<br /> paragraph 16 hereof. All covenants and agreements of Borrower shall be joint and several. Any Borrower who co-signs this Deed of Trust, but
<br /> does not execute the Note, (a) is co-signing this Deed of Trust only to grant and convey that Borrower's interest in the Property to Trustee under
<br /> the terms of this Deed of Trust, (b) is not personally liable on the Note or under this Deed of Trust, and (c) agrees that Lender and any other
<br /> Borrower hereunder may agree to extend, modify, forbear, or make any other accommodations with regard to the terms of this Deed of Trust or
<br /> the Note, without that Borrower's consent and without releasing that borrower or modifying this Deed of Trust as to that Borrower's interest in
<br /> the Property.
<br /> 12. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for
<br /> in this Deed of Trust shall be given by delivering it or by mailing such notice by certified mail addressed to Borrower at the Property Address or
<br /> at such other address as Borrower may designate by notice to �ender as provided herein, and (b) any notice to Lender shall be given by certified
<br /> mail to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any notice
<br /> provided for in this Deed of Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br /> 13. Governing Law; Severability. The state and local laws applicable to this Deed of Trust shall be the laws of the jurisdiction in
<br /> which the Property is located. The foregoing sentence shall not limit the applicability of federal law to this Deed of Trust. In the event that any
<br /> provision or clause of this Deed of Trust or the Note conflicts with appiicable law, such conflict shall not affect other provisions of this Deed of
<br /> Trust or the Note which can be given effect without the conflicting provision, and to this end the provisions of this Deed of Trust and the Note
<br /> are declared to be severable. As used herein, "costs," "expenses" and "attorneys' fees" include all sums to the extent not prohibited by
<br /> applicable law or limited herein.
<br /> 14. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and this Deed of Trust at the time of execution or
<br /> after recordation hereof.
<br /> 15. Rehabilitation Loan Agreement. Borrower shall fulfill all of Borrower's obligations under any home rehabilitation, improvement,
<br /> repair, or other loan agreement which Borrower enters into with Lender. Lender, at Lender's option, may require Borrower to execute and
<br /> deliver to Lender, in a form acceptable to Lender, as assignment of any rights, claims or defenses which Borrower may have against parties who
<br /> supply labor, materials or services in connection with improvements made to the Property.
<br /> 16. Transfer of the Property or a Benefcial Interest in Borrower. If all or any part of the Property or any interest in it is sold or
<br /> transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written
<br /> consent, Lender may, at its option, require immediate payment in full of all sums secured by this Deed of Trust. However, this option shall not
<br /> be exercised by Lender if exercise is prohibited by federal law as of the date of this Deed of Trust.
<br /> If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30
<br /> days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Deed of Trust. If Borrower fails to
<br /> pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Deed of Trust without further notice or
<br /> demand on Borrower.
<br /> App il
<br /> Initials: Initials: Initials: Initials:_S� l��>
<br /> NEBRASKA-Second Mortgage- 1l80- FNMA/FHLMC UNIFORM INSTRUMENT-Form 3828 (Page 3 of 5)
<br /> Management Systems Development, Inc. (800) 984-6060 Loan Energizer!TM' #NE_DEED Copyright(c) 1994
<br />
|