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200709774 If the Property is abandoned by Borrower, or if, after notice by Len,der to Borrower that the condenmor offers to make an award or settIe 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 sa,'ured by this Security Instrument, whether or not then due. Unless Lender and Borrower otIlerwise 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 amortization orthe sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release tile 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 payment or otherwise modifY amortization of tile sums secured by tIlis Security Instrument by reason of any demand 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 or Lender and Borrower, subject 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 tIlis Sa:urity 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 the sums secured by this SC(,'W'ity Instrument; and (c) ab'l'ees that Lender and any other Borrower may agree to extend, modifY, forbear or make any accommodations with regard to the terms of this Stx.,'urity Instrument or the Note without that Accomodation Signer's consent. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and tIlat 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 rcduced by the amount necessary to reduce the charge to the permitted limits and (b) any sums already collectedlrom 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 lmder the Note. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless Applicable Law requires use of anotIler method. 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 address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument 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 redcrallaw and the laws orthe 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 OftIlis Security Instrument or tile 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 ofiliis Security Instrument. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of tile 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 immediate payment in full of all sums secured by iliis Security Instrument. However, tIlis option shall not be @2004-2007 Copyright Compliance S",tcrro. Inc. 8C9C-F429 - 2007.01.201 Consumer Real Estate - Security Instl"UJ'llirnl DL2036 Page 5 (lf8 WWW.COII1pliIl.Ill1esYlltClIlll.CUIII 800.968.8522. Fox 616.956.1868