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<br /> :U'f)243432
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<br /> Pc:r over o- :lie right to reinstate after designation of a default aiul the rig lit to br;me ^ court action assert the
<br /> nor.-ex, i;tcnce of a default or any other defense of Borrower to a ucsignation of dclauh and sale. If the default is
<br /> trot cured by Borrower on or bcrore the date specified in the notice, and Senior Lien :Holrier has not exercised its
<br /> iitt.tt to cart the default, then Lender at I" option may designate a default and require immediate payment of all
<br /> sums secured by this Mortgage ;vitllout further demand and may invoke the power of sale and any other remedies
<br /> pctrlitwd by applicable 13,.v. Novvithstanding Lender's right to invoke any remedies hereunder, Lender may not
<br /> commence forcclosure proceedings or accept a deed in lieu of foreclosure, or exercise any other rights or remedies
<br /> hereafter until it has given Senior Lien Holder at least 60 days' prior written notice. Lender shall be entitled to
<br /> collect all expenses incurred in pursuing the remedies provided in this section 2, including, but not limited to,
<br /> reasonable attorneys' fees and costs of title evidence.
<br /> If ]..ender invokes the rower of sale, Lender shall mail copies of a notice of sale in the manner prescribed by
<br /> applicable law- to Borrower, Senior Lien Holder and to the other persons prescribed by applicable law, Lender
<br /> shall publish the notice of sale by public advertisement for rile time and in the manner prescribed b•. applicable
<br /> I;tw. Lender, without demand or, Borrower, shall sell the property at public auction to the highest bidder for cash
<br /> at the time and place and under the terns designated in the notice of sale in one or more parcels and in any order
<br /> Lender dot^_ri-nines. Lender may postpone sale of all or an}, parcel of the Property to any later time on the same
<br /> date by public announcement at the time and place of any previously scheduled sale. Lender or its designee may
<br /> pureitese the Property at any sale.
<br /> Lender shall deliver to the purchaser Lender's deed conveying the Property without any covenant cr warranty,
<br /> exhresscd of implied. `file recitals in Lender's deed shall be prima facie evidence of the truth of the statements
<br /> made therein. lender shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale,
<br /> iucluclitit, but not limited to. reasonable attorneys' fees; (b) to all sutras secured by this Mortgage: and (c) any
<br /> excess to the prison or persons legally entitled to it,
<br /> 3, S(MORDINATION. This Mortgage is subject and subordinate in all respects to the liens, terms, covenants and
<br /> conditions of the first Mortgage and to all advances heretofore made or arhich may hereafter be made pursuant to
<br /> ,Ile First lloitgage., including all Burns advanced for the purpose of (a) protecting or Further securing the lien of the
<br /> First \toltgage, curing defaults by i3orro%%-cr under the First N4oitgage or for any other purpose expressly permitted
<br /> by the First lortga4e: - (b) constnicting, renovating, repairing, futnisltinh, frxturing or equipping the Property.
<br /> The 'carts ami provisions of the First Mortgage are paramount and controlling, and they supersede any other terns
<br /> and +,ovisiotts hereof in conflict there%vith, in the event of foreclosure or deed in lieu of foreclosure of the First
<br /> Morttra-e, any provisions herein or any provisions in any other collateral agreement restricting the use of the
<br /> Property or other•.sise restricting Borrower's ability to sell the Property shall have no further fort: or effect on
<br /> subsequent owner; or purchasers of the Property. Any person, including his successors or assigns (other than
<br /> Borrower or a rcla!cd entity of Borrower), receiving title to the. Property through a foreclosure or deed in licu of
<br /> foreclosure of the First Nlortgagt shall receive tit!c to the Property free and clear from such restrictions.
<br /> Further, if senior l..len Holder acquires title to the Property pursuant to a deed in lieu of foreclosure, the lien of this
<br /> ivlort" age shall autoniaticaily terminate upon Senior Lien Holder's acquisition of the title, provided that (a) Lender
<br /> has been given written rotiCe of a default tinder the First Mortgage; and (b) Lender shall not have cured the default
<br /> under the I-irst Mortgage, or diligently pursued curing the default as determined by the Senior Lien Holder, within
<br /> the 00• day period provided in such nonce sent to lender.
<br /> 4. NOTICES, Any notice to B, .owcr provided for in this :Mortgage shall be given by delivering it or by mailing
<br /> it by first cL"iss snail unless applicable law requires use of another method. The notice shall be directed to the
<br /> Property Address or any other address llorrowcr designates by notice to the Lender,
<br /> RI LEASE. Upon satisfaction of all sums secured by this Mortgage (-whether by payment or forgiveness),
<br /> Lender shall release this Mortgage without charge to Borrower- Borrower shall pay any recordation costs.
<br /> 6. MODIFICATION OF FIRST MOR-IGAGE LOAN DOCUMENTS- The Lender consents to any agreement or
<br /> ar!alt h'er'.1ent to which Selllllr Lien IIOI(ler Vca Ives, pe'J1pOC1C5, Cxtends, reduces or modifies any provisions of the
<br /> First Mortgage Loan Documents, Including any provisions requiring the payment of money.
<br /> IN WITNESS WHEREOF, Borrower has cxecuied this )Mortgage.
<br /> Borrower: f al "
<br /> Karen Cloud
<br /> BOrr01.1. r: .
<br /> - rim Cloud
<br /> ST.',"1'E i)I Nebraska )
<br /> ] ss,
<br /> COt1N-FY or Mall
<br /> The foregoing instrument was acknov.-ledged.on this 2901 clay of 'March 4 2002
<br /> by Karen Cloud and Tim Cloud, wire and husband
<br /> 11 Sale he, a-ka
<br /> K„try rot :c Sherri L. O'Callaghan SFIEriRt L• o-CAL,~ c! ,
<br /> __•i~'ko A?Y Comm. Erp. Sept. 18. 2t10)N
<br /> My Commission Expires: 09/28/2
<br /> ,f 2
<br /> rcrrcK~it~rtt a+ot
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