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200407407
<br />Loan Number: 121034039 Servicing Number: 001388198-2 Date: 07/16/04
<br />and take such action as is necessary to protect Lender's interest. If Lender required mortgage insurance as a condition of making the
<br />loan secured by this Deed of Trust, Borrower shall pay the premiums required to maintain such insurance in effect until such time
<br />as the requirement for such insurance terminates in accordance with Borrower's and Lender'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
<br />additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree to other terms of payment,
<br />such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof. Nothing contained in this paragraph
<br />7 shall require Lender to incur 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
<br />Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in
<br />the Property.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and
<br />shall be paid to Lender, subject to the terms of any mortgage, deed of trust or other security agreement with a lien which has priority
<br />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
<br />amortization of the sums secured by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate
<br />to release, in any manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required
<br />to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured by this Deed of Trust by reason of any demand made by the original Borrower and Borrower's successors in interest. Any
<br />forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver
<br />of or preclude the exercise of any such right or remedy.
<br />11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements herein contained
<br />shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower, subject to the
<br />provisions of paragraph 16 hereof. All covenants and agreements of Borrower shall be joint and several. Any Borrower who co -signs
<br />this Deed of Trust, but does not execute the Note, (a) is co- signing this Deed of Trust only to grant and convey that Borrower's
<br />interest in the Property to Trustee under the terms of this Deed of Trust, (b) is not personally liable on the Note or under this Deed
<br />of Trust, and (c) agrees that Lender and any other Borrower hereunder may agree to extend, modify, forbear, or make any other
<br />accommodations with regard to the terms of this Deed of Trust or the Note, without that Borrower's consent and without releasing
<br />that Borrower or modifying this Deed of Trust as to that Borrower's interest in the Property.
<br />12. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower
<br />provided for in this Deed of Trust shall be given by delivering it or by mailing such notice by certified mail addressed to Borrower
<br />at the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any
<br />notice to Lender shall be given by certified mail to Lender's address stated herein or to such other address as Lender may designate
<br />by notice to Borrower as provided herein. Any notice provided for in this Deed of Trust shall be deemed to have been given to
<br />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
<br />jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of federal law to this Deed of
<br />Trust. In the event that any provision or clause of this Deed of Trust or the Note conflicts with applicable law, such conflict shall
<br />not affect other provisions of this Deed of Trust or the Note which can be given effect without the conflicting provision, and to this
<br />end the provisions of this Deed of Trust and the Note are declared to be severable. As used herein, "costs," "expenses" and
<br />"attorneys' fees" include all sums to the extent not prohibited by applicable law or limited herein.
<br />14. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Deed of Trust at the time of
<br />execution or after recordation hereof.
<br />15. Rehabilitation Loan Agreement. Borrower shall fulfill all of Borrower's obligations under any home rehabilitation,
<br />improvement, repair, or other loan agreement which Borrower enters into with Lender. Lender, at Lender's option, may require
<br />Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assignment of any rights, claims or defenses which
<br />Borrower may have against parties who supply labor, materials or services in connection with improvements made to the Property.
<br />16. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is
<br />sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's
<br />prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Deed of Trust.
<br />However, this option shall not 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
<br />less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Deed of
<br />Trust. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this
<br />Deed of Trust without further notice or demand on Borrower.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />17. Acceleration; Remedies. Except as provided in paragraph 16 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower in this Deed of Trust, including Borrower's failure to pay, by the end of 10 calendar days after they are due,
<br />any sums secured by this Deed of Trust, Lender prior to acceleration shall give notice to Borrower as provided in paragraph 12 hereof
<br />specifying: (1) the breach; (2) the action required to cure such breach; (3) a date not less than 20 days from the date the notice is
<br />mailed to Borrower, by which such breach must be cured; and (4) that failure to cure such breach on or before the date specified in
<br />the notice may result in acceleration of the sums secured by this Deed of Trust and sale of the Property. The notice shall further
<br />inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the nonexistence of a default
<br />or any other defense of Borrower to acceleration and sale. If the breach
<br />is not cured on or before the date specified in the notice, Lender, at Lender's option, may declare all of the sums secured by this
<br />Deed of Trust to be immediately due and payable without finiher demand and may invoke the power of sale and any other remedies
<br />permitted by applicable law. Lender shall be entitled to collect all reasonable costs and expenses incurred in pursuing the remedies
<br />provided in paragraph 17, including, but not limited to reasonable attorneys' fees.
<br />Initials: -�W
<br />NESID21.wp (04- 25-03)
<br />NEBRASKA - SECOND MORTGAGE
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