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200710169 if the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor otTers to make an award or settle a claim for damages, Borrower fails to respond to Lender within the minimum number of days establishtXI 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 tlle sums stx.'Ured by this Security Instrument, whether or not then due. 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 amOlmt of such payments. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time tor payment or modification of amortization ofthe sums secured by iliis Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of ilie original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in intE-Test or refuse to extend time for payment or otherwise modify amortization of the sums securro by this Security Instrument by reason of any demand made by tlle original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remtXly shall not be a waiver of or preclude ilie exercise of any right or remtXly. Successors and Assigns Bound; Joint and Several Liability; Accomodation Signers. The covenants and agreements ofthis Security Instrument shall bind and benefit the successors and assigns of Lender mHI Borrower, subject to the provisions of section titled Transfer of the Property or a Beneficial Interest in Borrower. Borrower's covenants and agreements shall bejoint and several. Any person who co-signs this Security Instnmlent but does not execute the Note ("Accomodation Signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey iliat Accomodation Signer's interest in ilie Property under the terms of the Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, torbear or make any accommodations with regard to the terms oftllis Security Instrument or the Note WitllOut iliat Accomodation Signer's consent. Loan Charges. If tlle loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so that ilie interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, ilien: (a) any such loan charge shall be reduced by the amOlmt necessary to rtXluce the charge to the permitted limit~ 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 IUlder tlle 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 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 another method. The notice shall be directed to the Property Address or any other adclress 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 addrE-'Ss 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 ftXlerallaw and the laws of the 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 oilier provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end ilie provisions of this Security Instrument and the Note are declared to be severable. Borrower's Copy. Borrower shall be given one contomled copy of this 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 transferrtXI 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 this Security Instrument. However, this option shall not be @ 2004-2007 Copyright Cornph."co S",'olll,.IIlC, 8C9C-EDAS - 2007.01.201 COIl.!lUInef" Relll Bllh,t",. S~urity InstI'\UIlent DL2036 Pab,FC 5 ofK WWW.COmplianCelloYSt.em3.com 800-968-8522 - Fax 616-9S6-1~6~