|
<br />200602645
<br />
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleratiQn. The notice shall provide a period .of
<br />not less than 30 days from the date the notice is given in accQrdance with Section 15 within which Borrower must pay all sums
<br />secured by this Security Instrument. If BQrrQwer fails tQ pay these sums prior to the expiration of this periQd, Lender may
<br />invQke any remedies permitted by this Security Instrument without further n.otice or demand .on BQrrQwer.
<br />19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, BQrrQwer shall bave the
<br />right t.o have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days befQre sale
<br />of the Property pursuant t.o any P.ower .of sale c.ontained in this Security Instrument; (b) such .other peri.od as Applicable Law
<br />might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument.
<br />ThQse cQnditiQns are that Borrower: (a) pays Lender all sums which then W.ould be due under this Security Instrument and the
<br />Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses
<br />incurred in enfQrcing this Security Instrument, including, but n.ot limited t.o, reasQnable att.orneys' fees, property inspectiQn and
<br />valuati.on fees, and .other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this
<br />Security Instrument; and (d) takes such actiQn as Lender may reasonably require to assure that Lender's interest in the Property
<br />and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall
<br />continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the
<br />following f.orms, as selected by Lender: (a) cash; (b) m.oney .order; (c) certified check, bank check, treasurer's check or
<br />cashier's check, provided any such check is drawn uP.on an instituti.on whose deposits are insured by a federal agency,
<br />instrumentality .or entity; .or (d) Electronic Funds Transfer. Upon reinstatement by BorrQwer, this Security Instrument and
<br />obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right t.o reinstate shall
<br />not apply in the case of accelerati.on under Section 18.
<br />20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together
<br />with this Security Instrument) can be sold one or more times without priQr nQtice to Borr.ower. A sale might result in a change
<br />in the entity (known as the "Loan Servicer") that cQllects Periodic Payments due under the Note and this Security Instrument
<br />and performs .other mQrtgage lQan servicing obligati.ons under the Note, this Security Instrument, and Applicable Law, There
<br />also might be one .or more changes of the Loan Servicer unrelated t.o a sale of the N.ote. If there is a change of the Loan
<br />Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer,
<br />the address to which payments should be made and any other information RESP A requires in connection with a notice of
<br />transfer of servicing. If the Notc is S.old and thereafter the Loan is serviced by a Loan Servicer .other than the purchaser of the
<br />Note, the mQrtgage lQan servicing obligations t.o B.orr.ower will remain with the Loan Servicer or be transferred to a successor
<br />Loan Servicer and are not assumed by the Note purchaser unless .otherwise provided by the Note purchaser.
<br />Neither B.orrower nor Lender may commence, join, or be joined to any judicial actiQn (as either an individual litigant or
<br />the member of a class) that arises from the other party's actiQns pursuant to this Security Instrument .or that alleges that the
<br />other party has breached any provision .of, .or any duty owed by reason of, this Security Instrument, until such Borrower or
<br />Lender has notified the other party (with such notice given in compliance with the requirements .of Section 15) of such alleged
<br />breach and aff.orded the .other party hereto a reasonable period after the giving of such notice to take c.orrective acti.on. If
<br />Applicable Law provides a time periQd which must elapse before ccrtain acti.on can be taken, that time period will be deemed t.o
<br />be reasonable for purposes of this paragraph. The notice of acceleratiQn and opportunity to cure given to Borrower pursuant t.o
<br />Section 22 and the notice .of accelerati.on given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and
<br />opportunity to take corrective action provisions of this SectiQn 20.
<br />21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as
<br />toxic or hazardous substances, P.ollutants, or wastes by Environmental Law and the following substances: gasQline, kerosene,
<br />other flammable .or tQxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials c.ontaining asbcstos .or
<br />f.ormaldehyde, and radiQactive materials; (b) "Envir.onmental Law" means federal laws and laws .of the jurisdicti.on where the
<br />Property is located that relate tQ health, safety .or envir.onmental protecti.on; (c) "Environmental Cleanup" includes any resP.onse
<br />action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a
<br />c.ondition that can cause, contribute t.o, .or .otherwise trigger an Environmental Cleanup.
<br />Borrower shall n.ot cause .or permit the presence, use, disP.osal, 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 .of a Hazard.ous Substance, creates a c.onditi.on that adversely
<br />affects the value of the Property. The preceding two sentences shall not apply to 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 t.o
<br />maintenance of the Property (including, but not limited t.o, hazard.ous substances in c.onsumer products).
<br />Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit .or other action by
<br />any governmental .or regulatory agency .or private party involving the Property and any Hazardous Substance or Environmental
<br />Law of which B.orrower has actual kn.owledge, (b) any Environmental CQndition, including but nQt limited tQ, any spilling,
<br />leaking, discharge, release .or threat of release of any Hazard.ous Substance, and (c) any c.onditi.on caused by the presence, use
<br />.or release .of a Hazardous Substance which adversely affects the value of the Property. If B.orrower learns, .or is n.otified by any
<br />governmental or regulatory authority, .or any private party, that any rem.oval .or .other remediati.on of any Hazardous Substance
<br />affecting the Pr.operty is necessary, BQrrQwer shall prQmptly take all necessary remedial actions in acc.ordance with
<br />Environmental Law. NQthing herein shall create any obligation on Lender for an Environmental Cleanup.
<br />
<br />NON-UNIFORM COVENANTS. BQrrQwer and Lender further covenant and agree as f.ollows:
<br />22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's
<br />breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless
<br />Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default;
<br />(c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and
<br />(d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums
<br />secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to
<br />reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other
<br />defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice,
<br />Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without
<br />further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be
<br />entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited
<br />to, reasonable attorneys fees and costs of title evidence.
<br />If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of the
<br />Property is located and shall mail copies of such notice in the manner prescribed by Applicable Law to Borrower and to
<br />the other persons prescribed by Applicable Law. After the time required by Applicable Law, Trustee shall give public
<br />notice of sale to the persons and in the manner prescribed by Applicable Law. Trustee, without demand on Borrower,
<br />shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the
<br />notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel
<br />of the Property by public announcement at the time and place of any previously scheduled sale. Lender or its designee
<br />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 the
<br />Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein.
<br />Trustee shall apply the proceeds of the sale in the following order: (a) to all costs and expenses of exercising the power of
<br />sale, and the sale, including the payment of the Trustee's fees actually incurred and reasonable attorneys' fees as
<br />permitted by Applicable Law; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or
<br />persons legally entitled to it. ~
<br />
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT . Form 3.0~ 1~.., /
<br />
<br />Bankers Systems, Ino" St, Cloud, MN Form MD-'-NE 8/17/2000 (page 60[7 pages) . ,'.. V~\
<br />_) J-
<br />
|