|
200407855
<br />(e) Mortgage Not Insured. Borrower agrees that should this Security Instrument and the Note secured thereby not be
<br />eligible for insurance under the National Housing Act within 60 days from the date hereof, Lender may, at its option
<br />and notwithstanding anything in paragraph 9, require immediate payment in full of all sums secured by this Security
<br />Instrument. A written statement of any authorized agent of the Secretary dated subsequent to 60 days from the date
<br />hereof, declining to insure this Security Instrument and the Note secured thereby, shall be deemed conclusive proof of
<br />such ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavailability
<br />of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the Secretary.
<br />10. Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment in full because of
<br />Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure
<br />proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to
<br />bring Borrower's account current including, to the extent they are obligations of Borrower under this Security Instrument,
<br />foreclosure costs and reasonable and customary attorneys' fees and expenses properly associated with the foreclosure
<br />proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shall remain in effect
<br />as if L ender had n of r equired immediate payment in full. However, Lender i s n of r equired to permit reinstatement if: ( i)
<br />Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately
<br />preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different
<br />grounds in the future, or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument.
<br />11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or modification
<br />of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower
<br />shall not operate to release the liability of the original Borrower or Borrower's successor in interest. Lender shall not be
<br />required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify
<br />amortization of the sums secured b y t his Security Instrument by r eason of any demand made by the original B orrower or
<br />Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or
<br />preclude the exercise of any right or remedy.
<br />12. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of this
<br />Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of
<br />paragraph 9.b. Borrower's covenants and agreements shall be joint and several. Any Borrower who co -signs this Security
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and convey that
<br />Borrower's interest in the property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums
<br />secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear
<br />or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent.
<br />13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing
<br />it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address
<br />or a ny other address B orrower designates by notice to L ender. Any notice to L ender shall be g iven by first -class mail to
<br />Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this
<br />Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph.
<br />14. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note
<br />conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can
<br />be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are
<br />declared to be severable.
<br />15. Borrower's Copy. Borrower shall be given one conformed copy of this Security Instrument.
<br />16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any
<br />Hazardous Substances on or in the Property. B orrower shall not do, nor allow anyone else to do, anything affecting the
<br />Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or
<br />storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal
<br />residential uses and to maintenance of the Property.
<br />Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any
<br />governmental or regulatory agency o r private party involving the Property and any Hazardous Substance or Environmental
<br />Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory authority
<br />that any removal or other remediation of any Hazardous Substances affecting the Property is necessary, Borrower shall
<br />promptly take all necessary remedial actions in accordance with Environmental Law.
<br />As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous substances by
<br />Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic
<br />pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used
<br />in this paragraph 16, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that
<br />relate to health, safety or environmental protection.
<br />FHA Nebraska Deed of Trust - 2/91
<br />DOCUUNE4
<br />DOCODNE4.VTY 12/21/2000
<br />Page 4 of 7
<br />9�
<br />200407855
<br />(e) Mortgage Not Insured. Borrower agrees that should this Security Instrument and the Note secured thereby not be
<br />eligible for insurance under the National Housing Act within 60 days from the date hereof, Lender may, at its option
<br />and notwithstanding anything in paragraph 9, require immediate payment in full of all sums secured by this Security
<br />Instrument. A written statement of any authorized agent of the Secretary dated subsequent to 60 days from the date
<br />hereof, declining to insure this Security Instrument and the Note secured thereby, shall be deemed conclusive proof of
<br />such ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavailability
<br />of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the Secretary.
<br />10. Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment in full because of
<br />Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure
<br />proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to
<br />bring Borrower's account current including, to the extent they are obligations of Borrower under this Security Instrument,
<br />foreclosure costs and reasonable and customary attorneys' fees and expenses properly associated with the foreclosure
<br />proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shall remain in effect
<br />as if L ender had n of r equired immediate payment in full. However, Lender i s n of r equired to permit reinstatement if: ( i)
<br />Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately
<br />preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different
<br />grounds in the future, or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument.
<br />11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or modification
<br />of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower
<br />shall not operate to release the liability of the original Borrower or Borrower's successor in interest. Lender shall not be
<br />required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify
<br />amortization of the sums secured b y t his Security Instrument by r eason of any demand made by the original B orrower or
<br />Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or
<br />preclude the exercise of any right or remedy.
<br />12. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements of this
<br />Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of
<br />paragraph 9.b. Borrower's covenants and agreements shall be joint and several. Any Borrower who co -signs this Security
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and convey that
<br />Borrower's interest in the property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums
<br />secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear
<br />or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent.
<br />13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing
<br />it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address
<br />or a ny other address B orrower designates by notice to L ender. Any notice to L ender shall be g iven by first -class mail to
<br />Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this
<br />Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph.
<br />14. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note
<br />conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can
<br />be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are
<br />declared to be severable.
<br />15. Borrower's Copy. Borrower shall be given one conformed copy of this Security Instrument.
<br />16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any
<br />Hazardous Substances on or in the Property. B orrower shall not do, nor allow anyone else to do, anything affecting the
<br />Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or
<br />storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal
<br />residential uses and to maintenance of the Property.
<br />Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any
<br />governmental or regulatory agency o r private party involving the Property and any Hazardous Substance or Environmental
<br />Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory authority
<br />that any removal or other remediation of any Hazardous Substances affecting the Property is necessary, Borrower shall
<br />promptly take all necessary remedial actions in accordance with Environmental Law.
<br />As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous substances by
<br />Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic
<br />pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used
<br />in this paragraph 16, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that
<br />relate to health, safety or environmental protection.
<br />FHA Nebraska Deed of Trust - 2/91
<br />DOCUUNE4
<br />DOCODNE4.VTY 12/21/2000
<br />Page 4 of 7
<br />
|