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<br />200804917 <br /> <br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as <br />defined in the ne>..1 sentence) offers to make an award to 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 the Miscellaneous <br />Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether <br />or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party <br />against whom Borrower has a right of action in regard to Miscellaneous Proceeds. <br />Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's <br />judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property <br />or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate <br />as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's <br />judgment, precludes forfeiture of the Property or other material impaimlent of Lender's interest in the Property or <br />rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the <br />impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. <br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the <br />order provided for in Section 2. <br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or <br />modification of amortization of the sums secured by tillS Security Instrument granted by Lender to Borrower or any <br />Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest <br />of Borrower. Lender shall not be required to conunence proceedings against any Successor in Interest of Borrower <br />or to refuse to extend time for payment or otherwise modify amortization of the swns secured by this Security <br />Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any <br />forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of <br />payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then <br />due, shall not be a waiver of or preclude the exercise of any right or remedy. <br />13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees <br />that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs tillS Security <br />Instrwnent but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, <br />grant and convey the co~signer' s interest in tile Property under the terms of tillS Security Instrument; (b) is not <br />personally obligated to pay the SunlS secured by this Security Instrument; and (c) agrees that Lender and any other <br />Borrower can agree to extend, modifY, forbear or make any accommodations with regard to the tenns of this Security <br />Instrunlent or tile Note without the co-signer's consent. <br />Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's <br />obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower' s rights <br />and benefits under this Security lnstrwnent. Borrower shall not be released from Borrower's obligations and liability <br />under tillS Security Instrunlent unless Lender agrees to such release in writing. The covenants and agreements of tillS <br />Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. <br />14. Loan Charges. Lender may charge Borrower fees for services performed in cOIUlection with Borrower's <br />default, for the purpose of protecting Lender's interest in the Property and rights under tills Security Instrument, <br />including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the <br />absence of eX1>ress authority in tills Security Instrument to charge a specific fee to Borrower shall not be construed <br />as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security <br />Instrument or by Applicable Law. <br />If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that tile <br />interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, <br />tIlen: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; <br />and (b) any sums already collected from Borrower which exceeded pennitted limits will be refunded to Borrower. <br />Lender may choose to make this refund by reducing tile principal owed under the Note or by making a direct payment <br />to Borrower. If a refund reduces priIlcipal, tile reduction will be treated as a partial prepayment without any <br />prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of <br />any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might <br />have arising out of such overcharge. <br />15. Notices. All notices given by Borrower or Lender in connection with tillS Security Instrument must be in <br />writing. Any notice to Borrower in connection with tillS Security Instmment shall be deemed to have been given to <br />Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other <br />means. Notice to anyone Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires <br />otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice <br />address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender <br />specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address <br />through that specified procedure. There may be only one designated notice address under this Security Instmment <br />at anyone time. Any notice to Lender shall be given by delivering it or by mailing it by fIrst class mail to Lender's <br />address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection <br />with tl1is Security Instmment shall not be deemed to have been given to Lender until actually received by Lender. <br />If any notice required by this Security Instrwnent is also required under Applicable Law, the Applicable Law <br />requirement will satisfY the corresponding requirement under this Security Instrument. <br />16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by <br />federal law and the law of tile jurisdiction in wlllch the Property is located. All rights and obligations contained in <br />this Security Instrwnent are subject to any requirements and limitations of Applicable Law. Applicable Law nllght <br /> <br />NEBRASKA--Single Fa,mily--Fannle Mae/Freddie Mac UNIFORM INSTRUMENT - MERS <br />Form 3028 1/01 Page 7 of 11 <br /> <br />DocMagic ~ 800"649.13112 <br />www.docmagfc.com <br /> <br />A~l{ <br />,t)7n~f( <br />