200902343 - Laserfiche WebLink

Browse

200902343 18. Transfer of the Property or a Beneficial Interest In Borrower. As used in this Seotion 18, "Interest in the Property" means any legal or beneficiarinterest in the Property, inoluding, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a futUre date to a purohaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment In full of all sums secured by this Seourity Instrument. However, this option shall not be exercised by Lender if such exeroise is prohibited by Applicable Law. If Lender exercises this option! Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notloe is given in accordance with Section 15 within whioh Borrower must pay all sums secured by this Seourity Instrument. If Borrower fails to pay these sums prior to Ihe expiration of this period, Lender may invoke any remedies permitted by this Security I nstrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforoement 01 this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) suoh other period as Applicable Law might speoify for the termination of Borrower's rJght to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those oonditions are that Borrower: (a) pays Lender all sums which then would be due under this Seourity Instrument and the Note as if no acceleration had oocurred; (b) oures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Seourity Instrument, including, but not limited to, reasonable attorneys' fees, property lnspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security I nstrument; and (d) takes suoh aotion as Lender may reasonably require to assure that Lender's Interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Seourity Instrument, shall continue unohanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as seleoted by Lender: (a) oash; (b) money order; (c) certified check, bank oheck, treasurer's check or cashier's check, provided any suoh cheok is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and oblilJations secured hereby shall remain fully effective as if no accleration had oocurred. However, this right to reinstate shall not apply In the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (t0gether with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change In the entity (known as the "Lo8;n. Servicer"). that collects Periodio ~ayment.s due under the Note and this Seourity lnstrume~t and performs other mortgage loan servlolng obligatIons under the Note, thiS Seountr Instrumentr and Applicable Law There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. I there is a cnange of the Loan Servicer, Borrower will be given written notice of the chan(;le which will state the name and address of the new Loan Servioer, the address to which payments should be made and any other Information RESPA requires in oonnection with a notioe of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servioing obligations to Borrower will remain with the Loan Servicer or be transferred to a suocessor Loan Servioer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial aotlon (as either an individual litigant or the member of a class) that arises from the 01her party's aotions pursuant to this Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Secur~y Instrument, until suoh Borrower or Lender has notified the other party (with suoh notice given in compliance with the requirements of Section 15) of suoh alleged breach and afforded the other party hereto a reasonable period after the giving of suoh notioe to take corrective action_ If Applloable Law provides a time period whioh must elapse before oertain aotlon oan be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of aoceleration and opportunity to oure given to Borrower pursuant to Section 22 and the notice of aoceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective aotion provisions of this Section 20. 21. Hazardous Substances. As used in this Seotlon 2t: (a) "Hazardous Substances" are those substanoes defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum produots, toxic pestioides and herbicides, volatile solvents, materials oontaining asbestos or formaldehyde, and radioactive materials; (b) "EnVIronmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal actionj as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, oontribute to, or otherw se trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substanoes, or threaten to release any Hazardous Substances, on or In the property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property la) that is in violation of any Environmenta Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentenoes shall not apply to the presenoe, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in oonsumer products). Borrower shall promptly give Lender written notice of (a) any investigation, olaim, demand, lawsuit or other aotion by any governmental or regulatory agency or private party involving fhe Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowlei:Jge. (b) any EnVIronmental Condition, including but not limited to, any spilling, leaking, disoharge, release or threat of release of any Hazardous Substanoe, and (c) any condition caused by the presence, use or release of a Hazardous Substance whioh adversely affects the value of the Property. If Borrower learns, or Is notified by any governmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affectinQ the Property is necessary, Borrower shalf promptly take all necessary remedial actions in accordanoe with Environmental Law. Nothing herein shall oreate any obligation on Lender for an Environmental Cleanup. NON.UNI FORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement In this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice Is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specIfied in the notice may result in acceleration of the sums secured by this Seourity Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court NEBRASKA-8In!ll~ F"mily-F"nni~ M"cVFr"ddl.. M.." UNIFORM ISTATEMENT 3028 NE DOT 01101 P(.l6 _""",n ......, _J ~ u: