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200804394
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200804394
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Last modified
12/2/2008 10:02:27 AM
Creation date
5/20/2008 4:15:55 PM
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DEEDS
Inst Number
200804394
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<br />200804394 <br /> <br />additional debt of Borrower secured by this Security Instrument. <br /> <br />5. Inspection. Lender or their agents may make reasonable entries upon and inspections <br />of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying <br />reasonable cause for the inspection. <br /> <br />6. Condemnation. The proceeds of any award or claim for damages, direct or <br />consequential, in connection with any condemnation or other taking of any part of the Property, or <br />for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. <br /> <br />In the event of a total taking of the Property, the proceeds shall be applied to the sums <br />secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. <br />In the event of a partial taking of the Property, unless Borrower and Lender othelWise agrees in <br />writing, the sums secured by this Security Instrument shall be reduced by the amount of the <br />proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately <br />before the taking, divided by (b) the fair market value of the Property immediately before the taking. <br />Any balance shall be paid to Borrower. <br /> <br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the <br />condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to <br />Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply <br />the proceeds, at their option, either to restore or repair the Property or to pay the sums secured by <br />this Security Instrument, whether or not then due. <br /> <br />7. Borrower Not Released; Forbearance by Lender Not a Waiver. Extension of the time <br />for payment or modification of amortization of the sums secured by this Security Instrument granted <br />by Lender to any successor in interest of Borrower shall not operate to release the liability of the <br />original Borrower or borrower's' successors in interest. Lender shall not be required to commence <br />proceedings against any successor in interest or refuse to extend time for payment or othelWise <br />modify amortization of the sums secured by this Security Instrument by reason of any demand <br />made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender <br />in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or <br />remedy. <br /> <br />8. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants <br />and agreements of this Security Instrument shall bind and benefit the successors and assigns of <br />Lender and Borrower, subject to the provisions of paragraph 13. Borrower's covenants and <br />agreements shall be joint and several. <br /> <br />9. Legislation Affecting Lender's Rights. If enactment or expiration of applicable laws has <br />the effect of rendering any provision of the Note or this Security Instrument unenforceable <br />according to its terms, Lender, at their option, may require immediate payment in full of all sums <br />secured by this Security Instrument and may invoke any remedies permitted by paragraph 15. If <br />Lender exercises this option, Lender shall take the steps specified in the second paragraph of <br />paragraph 13. <br /> <br />10. Notices. Any notice to Borrower provided for in this Security Instrument shall be given <br />by delivering it or by mailing it by first class mail unless applicable law requires use of another <br />method. The notice shall be directed to the Property address or any other address Borrower <br />designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's <br />address stated herein or any other address Lender designates by notice to Borrower. Any notice <br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender <br />when given as provided in this paragraph. <br /> <br />11. Governing Law; Severability. This Security Instrument shall be governed by the law <br />of the State of Nebraska. In the event that any provision or clause of this Security Instrument or <br />the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security <br />Instrument or the Note which can be given effect without the conflicting provision. To this end the <br />provisions of this Security instrument and the Note are declared to be severable. <br /> <br />12. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this <br />Deed of Trust. <br /> <br />13. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the <br />Property or any interest in it is sold or transferred (or if a beneficial interest in the Borrower is sold <br />or transferred and the new Borrower is not a natural person) without Lender's prior written consent, <br />Lender may, at their option, require immediate payment in full of all sums secured by this Deed of <br />Trust. <br /> <br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The <br />notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed <br />within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to <br />pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted <br />by this Security Instrument without further notice or demand on Borrower. <br /> <br />14. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall <br /> <br />2 <br /> <br />.,' <br />
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