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<br />200710257
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<br />V2 WBCD LOAN # 501696918
<br />execute the Note: (a) is co-signing this Security Instnll11ent only to mortgage, grant and convey that Borrower's interest j n the Property
<br />under the terms of this Security Instnunent; (b) is not personally obligated to pay the sums secured by this Security Instnunent; and
<br />(c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to
<br />the terms of this Security Instnunent or the Note without that Borrower's consent.
<br />. 13. Notices. Any n~tice to Borrower provided for in this Secmity Instmment shall be given by delivering it or by mailing it by
<br />first class mail un less applicable law requires use of another method. The notice shall be directed to the Property Address or any other
<br />address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated
<br />herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instnullent shall be deemed
<br />to have been given to Borrower or Lender when given as provided in this paragraph.
<br />14. Governing Law; Severability. This Security lnstmment shall be governed by Federal law and the law ofthe jurisdiction
<br />in which the Property is located. In the event that any provision or clause of this Security Instnlluent or the Note conflicts with
<br />applicable law, such conflict shall not affect other provisions of this Security Instnllllent or the Note which can be given effect without
<br />the conflicting provision. To this end the provisions of this Security Instmment and the Note are declared to be severable.
<br />15. BOI'l'ower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instnunent.
<br />16. Hazanlous Substances. Borrower shall110t cause or pennit the presence, use, disposal, storage, or release of any Hazardous
<br />Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property that is in violation
<br />of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small
<br />quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance
<br />of the Property.
<br />Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or otller action by any
<br />governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of
<br />which Borrower has achwl knowledge. If Borrower learns, or is notified by any governmental or regulatory au thority, that any removal
<br />or other remediation of any Hazardous Substances affecting the Property is necessary, Borrower shall promptly take all necessary
<br />remedial actions in accordance with Environmental Law.
<br />As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous substances by
<br />Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides
<br />and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph
<br />16, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to hea !th, safety
<br />or environmental protection.
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<br />NON-UNIFORM COVENANTS. Borrower and Lender fmther covenant and agree as follows;
<br />17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues ofthe Property.
<br />Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the Property to
<br />pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Borrower' s breach of any covenant or
<br />agreement in the Securi ty Instmment, Borrower shall collect and receive all rents and revenues of the Property as trustee for the benefi t
<br />of Lender and Borrower. This assiglUllent of rents constitutes an absolute assignment and not an assignment for additional security
<br />only.
<br />If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Borrower as trustee for benefit
<br />of Lender only, to be applied to the sums secured by the Security Instnllnent; (b) Lender shall be entitled to collect and receive all
<br />of the rents of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent on
<br />Lender's written demand to the tenant.
<br />Borrower has not executed any prior assignment ofthe rents and has not and will not perform any act that would prevent Lender
<br />from exercising its rights under this paragraph 17.
<br />Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice of breach to
<br />Borrower. However, Lender or ajudicially appointed receiver may do so at any time there is a breach. Any application of rents slwll
<br />not cure onvaive any default or invalidate any other right or remedy of Lender . This assignment of rents of the Property shall terminate
<br />when the debt secured by the Security Instnnnent is paid in full. .
<br />18. Foreclosure Procedure. If Lender rcquires immediate llayment in fun undcr llaragn1llh 9, Lender may invol(e the
<br />powcr of sale and any other remcdics permitted by applicable law. Lendcr shall be cntitled to collect all cxpenses incurred
<br />in llUrsuing the remedies under this paragraph 18, including, but not limited to, reasonable attorneys' fees and costs of title
<br />evidence.
<br />If the 11 ower of sale is invol{ed, Tmstee shall recol'd a noticc of default in each county in which llny llllrt of the Property
<br />is located and shall mail copies of such notice in the manncr presCl"ibed by applicable law to Borrowcr and to the other persons
<br />prescribed hy applicable law. After the time re(luired hy applicable law, Trustee shall givc public notice ohalc to the persons
<br />llnd in the mannel' lll'escribed by applicable law. TI'ustee, without demand on Borrowcr, shall sell the Property at IIUblic
<br />auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels
<br />IInd in any ordel- Trustee determines. Trustee may postpone sllle of all or IIny l)lll-cel of the Property by public announcement
<br />at the time and place of any prcviously scheduled salc. Lendcr or its designee may purchase the Prope..1:y at any sale,
<br />If'theLellllel-'S intcl-estin this Security Instrument is held bythc Secretm'y and theSecretm"y requires immediate lJayment
<br />in full under Paragnlph 9, the Secretar~' may invoke the non.iudicialllOwer of sale provided in the Singlc Famil)' Mortgage
<br />Foreclosure Act of 1994 ("Act") (12 U.S.C. 3751 et seq.) by rcquesting a foreclosure commissiol1el' designated under the Act
<br />to commence forcclosurc IInd to sell the Prolleliy as Ilrovided in the Act. Nothing in the preceding sentencc shllll dcpriye thc
<br />Secretal')' of an~' rights othcnvise available to a Lender under this Paragraph 18 or lllllllicahle law.
<br />Upon rcceillt of )layment of the price bid, Trustce shall deliver to the 11U1"chaser Tmstce's deed conveying the Property.
<br />The recitals in the Trustee's deed shall be Ilrima facieevidencc of the tl'llth of the statements made t1lel-eill. Trustee shall apply
<br />thc proceeds ofthc sale in the following ol'der: (a) to all costs IIl1d expenses of exercising the power of sale, and the sale, including
<br />the llllyment of the Trustec's fees actually incu....ed, not to exceed of the principal amount of the note at the
<br />time of the declaration of default, and reasonable attorneys' fccs as permitted by law; (b) to all sums sccuI'ed by this Security
<br />Instrument; and (c) any excess to the person or llersons lcgally entitled to it.
<br />19. Reconveyance. Upon payment of all sums secured by this Security Instmment, Lender shall request Tmstee to reconvey
<br />the Property and shall surrender this Security lnstnunent and all notes evidencing debt secured by this Security Instrument to Tmstee.
<br />Tmstee shall reconvey the Property without warranty and without charge to the person or persons legally entitled to it. Such person
<br />or persons shall pay any recordation costs.
<br />20. Substitute Tmstee. Lender, at its option, may from time to time remove Tmstee and appoint a successor tmstee to any
<br />Tmstee appointed hereunder by all instrument recorded in the county in which this Security Instmment is recorded. Without
<br />conveyance of the Property, the successor tmstee shall succeed to all the title, power and duties conferred upon Tmstee herein and
<br />by applicable law.
<br />21. Request fo,' Notices. Borrower requests that copies ofthe notices of default and sale be sent to Borrower's address which
<br />is the Property Address. 'I -.L1
<br />Initials: KA f.... 'a'
<br />III-JA Nebrnska Dee.l of Trust - 4/96 pnge 4 of 5 NEEFHADE
<br />11-15-2007 17: 11
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