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200705021 If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condenmor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within the minimum number of days established by Applicable Law after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whcth"... or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not cxtend or postpone the due datc of thc payments Payment of Principal and Interest; Late Charges and Funds for Taxes and Insurance or change the amount of such payments. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization ofthe sums securcd by this Security Instrument granted by Lender to any successor in interest of Borrowc'l' shall not operate to relea~e the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for paymmt or otherwise modity amortization of tlle sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearancc by Lender in exercising any right or remedy shall not be a waiver of or precludc the exercise of any right or remedy. Successors and Assigns Bound; Joint and Several Liability; Accomodation Signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, su~iect to the provisions of section titled Transfer of the Property or a Beneficial Interest in Borrower. Borrower's covenants and agreements shall be joint and several. Any person who co-signs this Security Instrument but does not execute the Note ("Accomodation Signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey that Accomodation Signer's interest in the Property under the terms of the Security Instrument; (b) is not personally obligated to pay the sums socured by this Security Instrument; and (c) agrees tllat Lender and any oth"... Borrower may agree to extend, modity, forbear or make ,my accommodations with regard to the tenm of this Security Instrument or the Note without that Accomodation Signer's consent. Loan Charges. If the loan socured by this Security Instrument is su~ject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amowlt nocessary to reduce the charge to the permitted limits and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. Notices. Any notice to Borrower provided for in tllis Security Instrument shall be given by delivering it or by mailing it by first class mail unless Applicable Law requires use of another metllOd. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any other ad(lress Lender designates by notice to Borrower. Any notice provided lor in this Security Instrument shall be deemed to have been given to Borrower or Lender when briven as provided in this paragraph. Governing Law; Severability. This Security Instrument shall be governed by federal law and the laws ofthe state of Nebraska. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions ofthis Security Instrument or the Note which can be given effect without the conllicting provision. To this end the provisions oftllis Security Instrument and the Note are declared to be severable. Borrower's Copy. Borrower shall be given one con/onned copy oftllis Security Instrument. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) unless the Note shows that Borrower's loan is assumable, Lender may, at its option, require immcdiate payment in full of all sums secured by this Security Instrument. However, this option shall not be <rJ 2004.2007 Copyright Compliance S".torr.. Inc. HC9C-C616 - 2007.01.201 COBS\lmcrt' Real E~t.ate - Sec\u'ity Ill3tnlfl")e111 Df ,2036 Page: 5 of8 www.complianc~Y.\lt.em$.com HOO-96H-H522 - F"" 616-956-186H