|
~~ ~.., ~ 20U909061
<br />If bender exercises this option, lender shall give Borrower notice of acceleration. The notice shall provide a period of
<br />not less than 30 days from the date the notice is given in accordance with Secl.ian 15 within which Borrower roust pay all sums
<br />Secured by this Security Instrument. If Borrower fails tct pay these sums prior to the expiration of this period, Lender may
<br />invoke any remedies permitted by this Security Instruntenl without further notice or detzzand on Borrower.
<br />19. Borrower's Right to Reinstate After Acceleration. If Borrower rzteets certain conditions, Borrower shall have the
<br />right to have enforcement of this Security Instrument discontinued at any time prior to the earliest ol'; (a) five days before sate
<br />of the Property pursuant to any power of sale contained in this Security Instrument; (h) such other period as Applicable Law
<br />might specify for the terzxrination of Borrower's right to reinstate:; or (c) entry of a ,judgment enforcing this Security Instrument.
<br />Those conditions are that. Borrower: (a) pays lender a.ll suzzts which then would be due under this Security Instrument and the
<br />Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (r) pays all expenses
<br />incurred in enforcing this Security Instrument, including, but not !united to, reasonable attorneys' tees, property inspection and
<br />valuation fees, and other fees incurred far the purpose of protecting Lender's interest in the Property and rights under Chis
<br />Security Instrument; and (d) takes such action as I.,ender may reasonably require to assert: that bender's interest in the Property
<br />and rights under this Security Instrument, and liorrowcr's obligation to pay the surzts secured by this Security Instrurzzent, shall
<br />continue unchanged. Lender may require that Borrower pay such reinstatement SuIitS and expenses in one or more of the
<br />followiug forms, as selected by I,,cnder: (a) cash; (h) rzzoney order; (c) certified check, hank check, treasurer's check or
<br />cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency,
<br />instrumentality or entity; or (d) Electronic Eunds `T'ransfer. Upon reinstatement by Borrower, this Security Instrument and
<br />obligations secured hereby shall remain fully effective as if nn acceleration had occurred, klowcver, this right. to reinstate shall
<br />not apply in the case of acceleration under Section l8,
<br />20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together
<br />with this Security Instrument) can. be sold one or Treece cuzzes without prior notice: to Borrower. A sale might result in a change
<br />in the entity (known as the "Lawn Servicer") that collects Periodic. Payments due under the Note and this Security Instrument
<br />and performs other mortgage loan servicing obligations under the Note, this Security [nstrument, and Applicable law. There
<br />also might be one or mare changes of the Loan Servicer unrelated to a sale of the Note. if there is a change of the Loan
<br />Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer,
<br />the address to which payments should be znadc and any other inforrzzation RESPA requires in connection with a notice of
<br />transfer of servicing. Tf the Note is sold and thereafter the Loan is serviced by a loan Servicer other than the purchaser of the
<br />Note, the mortgage loaa servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor
<br />Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser.
<br />Neither Borrower nor Lender may commence, ,join, or be ,joined to any judictal action (as either an individual litigant or
<br />the member of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that the
<br />other party has breached any provision of, or any duty owed by rea.st-n of, this Security Instruznertt, until such Borrower or
<br />Lender has notified the other party (wit.h such notice given in compliance with the requir<:menis of Section 15) of such alleged
<br />breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If
<br />Applicable Law provides a time period which must elapse before certain action can he t.akert, that time period will he deemed to
<br />be reasonable for purposes of this paragraph. T'he notice of acceleration and opportunity to cure given tct I3orrctwer pursuant to
<br />Section 22 and the notice of acceleration given to Borrower pursuant to Sectron 18 shall he deemed to satisfy the notice and
<br />opportunity to take corrective action provisions of this Section 20.
<br />21. Hazardous Substances. As used in this Section 2l: (a) "hazardous Substances" are those substances defined as
<br />toxic or hazardous substances, pnllutaats, or wastes by Enviroarztental l.aw and the following substances: gasoline, kerosene,
<br />other flammable nr toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or
<br />forrttaldehyde, and radioactive materials; (b) "Environmental I,aw" means federal laws and laws of the ,jurisdiction where the
<br />Property is located that relate to health, safety or environrneatal protection; (c) "Environmental ('.leanup" -ncludes any response
<br />action, remedial action, or removal action, as defined in F.,nvironmental Law; and (d) an "Environmental Condition" means a
<br />condition that can cause, contribute to, or otherwise trigf±er an Environmental Cleanup.
<br />Borrower shall not cause or permit the presence, use, disposal, storage, or release ol• any hazardous Substances, or
<br />threaten to release any Hazardous Substances, nn or in the Property. Borrower shall not do, nor allow anyone else to do,
<br />anything affecting the Property (a) that is in violation of any Environrrtental Law, (h) which creates an Environmental
<br />Condition, nr (c) which, due to the presence, use, or release of a Hazardous Substance, creates a rendition that adversely
<br />affects the value of the Property. Tb.e preceding two sentences shall not apply to the presence, use, or storage on the Property
<br />of small quantities of Hazardous Substances that arc generally recognized to he appropriate to normal residential uses and to
<br />maintenance of the Property (including, but. oat limited to, harardous substances in consenter products).
<br />Borrower shall promptly give Lender written notice of (a) any investigation, clauzt, demand, lawsuit or other action by
<br />any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental
<br />Law of which Borrower has actual knowledge, (h) any Environrzzental (.".ondition, including but not limited to, any spilling,
<br />leaking, discharge, release ar threat of release of any I-Tazardous Substance, and (c) any condition caused by the presence, use
<br />or release of a Hazardous Substance which adversely al'tects the value of the Property. if l.3orrowcr learns, or is notified by any
<br />governmental or regulatory authority, or any private patty, that any removal or other rezzzediation of any Flazardous Substance
<br />affecting the Property is necessary, Borrower' shall promptly take all necessary remedial actions in accordance with
<br />Environmental Law. Nothing herein shall create any obligation on I..ender far an Environmental Cleanup.
<br />N(7N-[JNIFORM C(7VENAN'1 S, Borrower and I.cndcr further covenant and agree as follows:
<br />22. Acceleration; Remedies. Lender shall give notice to .Borrower prior to acceleration following Borrower's
<br />breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless
<br />Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the ackiott required to cure the default;
<br />(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
<br />(d) that failure to cure the default on or before the date specified in the notice may result ire acceleration of the sums
<br />secured by this Security Instrument and sale of the Property. The rtotice shall further inform Borrower of the right to
<br />reinstate after acceleration and the right to bring a court action to assert the nort~existeuce of a default nr any other
<br />defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice,
<br />Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without
<br />further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Leader shall be
<br />entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, utcludiug, but not limited
<br />to, reasonable attorneys' fees and costs of title evidence.
<br />If the power of sale is invoked, Trustee shall record a Atntice of default In each courity itt which arty part of the
<br />Property is located and shall mail copies of such notice in the manner prescribed by Applicable Law to Borrower and to
<br />the other persons prescribed by Applicable Law. After the time required by Applicable Law, Trustee shall give public
<br />notice of sale to the persons and in the manner prescribed by Applicable Law. Trustee, without demand on Borrower,
<br />shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the
<br />notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel
<br />of the Property by public announcement at the time and place of atzy previously scheduled sale. Lender or its designee
<br />may purchase the Property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the
<br />Property. The recitals in the Trustee's deed shall be prima facie evidetce of the truth of the statements made therein.
<br />Trustee shall apply the proceeds of the sale itt the followiug order: (a) to All CpStS and expenses of exercising the power of
<br />sale, and the sale, including the payment of the Trustee's fees actttally incurred and reasonable attorneys' fees as
<br />permitted by Applicable Law; (b) to all sums secured by this Security Instruznezzt; and (c) arty excess to the person or
<br />persons legally entitled to it.
<br />NEBRASKA---Single Family---Fannie MaelFreddie Maa UNIFORM INSTRUMENT Farm 3028 1101
<br />Bankers Systems, Inc., St. Cloud, MN Form MD-1-NE 9/17/2000 QN~Rr' h n/~7 puRe+) .._.~...~_
<br />
|