|
200304794
<br />Borrower shall not cause or Permit the presence, use, disposal, storage, or release of any 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 notapplyto the presence, use, or smrageonthe Property
<br />ofsmall quantities offhazardous Substances that are generallyremini to be appropriate to normal residential uses and in
<br />maintenance of the Property (including, but not limited to, hazardous substances in consumer products).
<br />Borrower shall promptly give Lender written notice offs) any investigation, claim, demand, lawsuit or other action
<br />by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or
<br />Environmental Law ofwhich Borrower has actual knowledge, (b) my Environmental Condition, includm but not limited m,
<br />any spilling, leaking, discharge, release or threat ofrelease ofany Broadens Substance, and (c) any condition caused bythe
<br />Presence, use or release ofa Hazardous Substance which adversely affects the value ofthe Property. Ifflorrower learns, or is
<br />NUN - UNIFORM CUVBNAN I9. Borrower and Under former 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 prior to 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; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which
<br />the default must he cured; and (d) that failure to cure the default on or before the date specified in the notice may
<br />result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shell
<br />further inform Borrower ofthe right to reinstate after acceleration and the right to bring a court action to assert the
<br />non - existence of a default or any other defense of Borrower to acceleration and sale. lithe 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 he 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 of default in each county in which any part of
<br />the Property is located and shall mail copies ofsuch notice in the manner prescribed by Applicable Lawto Borrower
<br />terms designated in the notice of sale in one or more parcels antl in any orcler'I'rustee determines. I rustee may
<br />postpone sale of all or any parcel ofthe Property by public announcement at the time and place of any previously
<br />scheduled sale. Lender or its designee may purchase the Property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying
<br />the Property. The recitals in the Trustee's deed shall be prima facie evidence ofthe truth ofthe statements made
<br />therein. Trustee shall apply the proceeds ofthe sale in the following order: (a) to all costs and expenses ofexemising
<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 it.
<br />23. Reconveyance. Upon payment ofall sums secured by this Security instrument, Lender shall request Trustee in
<br />re- convey the Property and shall surrender this Security Instrument and all notes evidencing debt seemed by this Security
<br />Instrument to Trustee. Trustee shall rceonvey the Property without warranty to the person or persons leer I ly entitled to it.
<br />Such person or persons shall pay any recordation costs. Lender may charge such person or persons a fee for reconvey. the
<br />Property, but only iflhe 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 remove Trustee 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 conveyance ofthe Property, the successor trustee shall succeed m all the title, power and duties conferred
<br />upon Trustee herein and by Applicable Law.
<br />25. Re near for Notices. Borrower requests that copies ofthe 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 />fb}TLCd,� �t[/L (Seal)
<br />Borrower Do6glas F. Flaherty
<br />C..0 c5. ��/P1LPl1 (Seal)
<br />Borrow Kay S. Flaherty
<br />(Seal)
<br />Borrower
<br />(Seal)
<br />NEBHASKASingle F..1,— Fannie Mee /Freddie Mac UNIFORM INSTRUMENT Form3028 IN] (yage7of8pages)
<br />9054AV(1102) 168NIo
<br />GOTO(0004,w.)
<br />
|