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200301236
<br />Borrower shall not cause or permit the presence, use, disposal, storage, or release ofany Hazardous Substances, or
<br />threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do,
<br />anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental
<br />Condition, or (c) which, due to the presence, use, or release ofa Hazardous Substance, creates a condition that adversely
<br />affects the value ofthe Property. The preceding two sentences shall not applyto the presence, use, or storage on the Property
<br />of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to
<br />maintenance of the Property(including, but not limited to, hazardous substances in consumer products).
<br />Borrower shall promptly give Lender written notice of(a) any investigation, claim, demand, lawsuit or other action
<br />by any governmental or regulatory agency or private party involving the Property mid any Hazardous Substance or
<br />Environmental Law ofwhicli Borrower has actual knowledge, (b) any Environmental Condition, including but not limited en,
<br />any spilling, leaking, discharge, release or threat of ich a e, ofany Hazardous Substance, and (e) any condition caused by the
<br />presence, use or release ofa Hazardous Substance which adversely affects the value ofthe Property. If ymnower learns, or is
<br />notified by any governmental or regulatory authority, or any private party, diet any removal or other remediation of any
<br />Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in
<br />accordance with Environmental Lave Nothing herein shall co me any obligation on Lender for an Environmental Cleanup.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following
<br />Borrower's breach ofany covenant or agreement in this Security Instrument (but not priorto acceleration under
<br />Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default, (b) the action
<br />required to cure the default; (e) a date, not less than 30 days from the date the notice is given to Borrower, by which
<br />the default must be cured; and (d) that failure to care the default on or before the date specified in the notice may
<br />result in acceleration ofthe sums secured by this Security Instrument and sale ofthe Property. The notice shall
<br />further inform Borrower ofthe right to reinstate after acceleration and the right to bring a court action to assert the
<br />non - existence ofa default or any other defense of Borrower to acceleration and sale. If the default is not cured on or
<br />before the date specified in the notice, Lender at its option may require immediate payment in full of all sums
<br />secured by this Security Instrument without further demand and may invoke the power of sale and any other
<br />remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the
<br />remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title
<br />evidence.
<br />If the power of sale is invoked, Trustee shall record a notice ofdcfa all in on ch county in which any part of
<br />the Properly is located and shall mail copies of such notice in the manner prescribed by Applicable Law to Borrower
<br />and to the other persons prescribed by Applicable Law. After the time required by Applicable Law, Trustee shall
<br />give public notice of sale to the persons and in the manner prescribed by Applica ble Law. Trustee, without demand
<br />on Borrower, shall sell the Property at public auction to the highest bidder at the time and place and under the
<br />terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may
<br />postpone sale ofall or any parcel ofthe Property by public announcement at the time and place ofany previously
<br />scheduled sale. Lender or its designee may purchase the Property at any sale.
<br />Upon receipt of payment ofthe price hid, Trustee shall deliver to the purchaser Trustee's decd conveying
<br />the Property. The recitals in file Trustee's deed shall be prima facie evidence ofthe truth ofthe statements made
<br />therein. Trustee shall apply the proceeds of the sale in the fallowing order: (a) to all costa and expenses ofexercising
<br />the power of sale, and the sale, including the payment of the Trustee's fees actually incurred and reasonable
<br />attorneys' fees as permitted by Applicable Law; (b) to all sums secured by this Security Instrument; and (c) any
<br />excess to the person or persons legally entitled to d.
<br />23. Reconveyance. Upon payment ofal l sums secured by this Security Instrument, l ender shall request Trustee to
<br />reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security
<br />Instrumentto Trustee. Trustee shall reconvey the Property without warrantyto the person or persons te ally entitled to it.
<br />Such person or persons shall pay any recordation costs. lender may charge such person or persons a fee �rteconveying the
<br />Property, but only if the fee is paid to a third party (such as the Trustee) for services rendered and the charging ofthe fee is
<br />permitted under Applicable Law.
<br />24. Substitute Trustee. Lender, at its option, may from time to time rem ove'frustee and appoint a successor
<br />trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this Security Instrument is
<br />recorded. Without conveyyance of the Property, the successor trustee shall succeed to all the title, power and duties conferred
<br />upon 'Trustee herein and by Applicable law.
<br />25. Request for Notices. Borrower requests that copies of the notice of default and sale be sent to Borrower's
<br />address which is the Property Address,
<br />BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security
<br />Instrument and in any Rider executed by Borrower and recorded with it.
<br />Witnesses: )
<br />/C;r_ (Seal)
<br />Borrower Michael J. Sorensen
<br />L1%QbWZ.L— (Seal)
<br />Bonowe, Anna E. Sorensen
<br />(Seal)
<br />(Seal)
<br />Borrower
<br />NEBRASKA Single family— Fannle Mae/Freddie Mac UNIFORM INS "I RUMENT Fora 3029 1/01 (pq, l ofS pave)
<br />9l54 CV 1646033
<br />r0T0t60w03a2)
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