200707070 - Laserfiche WebLink

Browse

200707070 Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the 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 amorti:tation of the sums secured by this Sc(''UTity Instrument granted by Lender to any successor in interest of Borrower shall not operate to release 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 rethse to extend time for payment or otherwise modity amortization of the sums secured by this Security Instrument by reason of any denumd made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude 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~ject to the provisions of section titled Transfer of the Property or a Beneticial 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 tllis Security Instrument only to mortgage, grant and convey that Accomodation Signer's interest in tile Property under the terms of the Security Instrument; (b) is not personally obligated to pay tile sums secured by this Security Instnlment; and (c) agrees that Lender and any other Borrower may agree to extend, modifY, forbear or make any accommodations with regard to the tenn~ ofthis Security Instrument or the Note without that Accomodation Signer's consent. Loan Charges. If the loan secured by this Sc(''UTity Instrument is subject 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 limit~, tllen: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limits and (b) any sums already collected from Borrower which exceeded permitted limits will be refimded 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 refimd 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 this Security Instrument shall be given by delivering it or by mailing it by /irst class mail unless Applicable Law requires use of another method. The notice shall be directed to tile 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 address Lender designates by notice to Borrower. Any notice provided for in this Security Instnlment shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. Governing Law; Severability. This Security Instrument shall be governed by federal law and the laws of the state of Nebraska. In the event tllat any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not atJ'oct other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. Borrower's Copy. Borrower shall be given one conformed copy of this Se(,wty Instrument. Transfer of the Property or a Beneticial 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 tile Note shows that Borrower's loan is assumable, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. If the Note shows that Borrower's loan is assumable, Borrower must obtain Lender's written permission for an assumption and follow any other requirements of Lender related to an assumption. If Borrower does not do so, Lender may require immediate payment in full of all sums secured by tins Security Instrunlent. ~ 2004.2007 Copyright Compliance SY"orn>. Inc, 8C9C-6326 - 2007,01,201 CornwnerReal E~t.at.e - Security Instrumenl 01.2036 Pag. 5 of8 www .compli<&1~"ellyst~s ,oorn 800.968.8522 - Fax 616-956-1868