201003482 - Laserfiche WebLink

Browse

201043482 sale. if the default is not cured by Borrower on or before the date specified in the notice, and Senior Lien Holder has not exercised its right to cure the default, then Lender at its option may designate a default and require immediate payment of all sums not forgiven secured by this Mortgage without further demand and may invoke the power of sale and any other remedies permitted by applicable law. Notwithstanding Lender's right to invoke any remedies hereunder, Lender may rat commence foreclosure proceedings or accept a deed in lieu of foreclosure, or exercise any other rights or remedies hereafter until it has given Senior Lien Holder at least 60 days prior written notice. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this section 2, including, but not limited ta, reasonable attorneys' fees and costs of title evidence. if Lender invokes the power of sale, Lender shall mail copies of a notice of sale in the manner prescribed by applicable law to Borrower, Senior Lien Holder and to the other persons prescribed by applicable law.. Lender shall publish. the notice of sale by public advertisement for the time and in the manner prescribed by applicable law. Lender, without demand on. Borrower, shall. sell the Property at public auction to the highest bidder far cash at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Lender determines. Lender may postpone sale of all or any parcel of the Property to any later time on tl~e same date by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at any sale. Lender shall deliver to the purchaser Lender's deed conveying the Property without any covenant or warranty, expressed or implied. The recitals in Lender's deed shall be prima facie evidence of the truth of the statements made therein. Lender shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums not forgiven by this Mortgage; and (c) any excess to the person or persons legally entitled to it. 3. SUBORDINATION. This Mortgage is subject and subordinate in all respects to the liens, terms, covenants and conditions of the First Mortgage and to all advances heretofore made or which may hereafter be made pursuant to the First Mortgage, including all sums advanced for the purpose of (a) protecting or further securing the lien of the First Mortgage, curing defaults by Borrower under the First Mortgage or for any other purpose expressly permitted by the First Mortgage; or (b) constructing, renovating, repairing, furnishing, fixturing or equipping the Property. The terms and provisions of the First Mortgage are paramount and controlling, and they supersede any other terms and provisions hereof in conflict therewith. In the event of foreclosure or deed in lieu of foreclosure of the First Mortgage, any provisions herein or an.y provisions in any other collateral agreement restricting the use of the Property or otherwise restricting Borrower's ability to sell the Property shall have no further farce or effect on subsequent owners or purchasers of the Property. Any person, including his successors or assigns (other than Borrower or a related entity of Harrower), receiving title to the Property through a foreclosure or deed in lieu of foreclosure of the First Mortgage shall receive title to the Property free and clear from such restrictions. Further, if Senior Lien Holder acquires title to the Property pursuant to a deed in lieu of foreclosure, the lien of this Mortgage shall automatically terminate upon Senior Lien Holder's acquisition of the title, provided that (a) Lender has been given written notice of a default under the First Mortgage; and (b) Lender shall not have cured the default under the First Mortgage, or diligently pursued curing the default as determined by the Senior Lien Holder, within the ti0-day period provided. in such notice sent to Lender. 4. NOTICES. Any notice to Borrower provided for in this Mortgage shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed. to the Property Address or any other address Borrower designates by notice to the Lender. 5. RELEASE. Upon satisfaction of all sums secured by this Mortgage (whether by payment or forgiveness), Lender shall release this Mortgage without charge to Borrower. Borrower shall pay any recordation costs. 6. MODIFICATION OF FIRST MORTGAGE LOAN DOCUMENTS. The Lender consents to any agreement. or arrangement in which Senior Lien Holder waives, postpones, extends, reduces ar modifies any provisions of the First Mortgage Loan Documents, including any provisions requiring the payment of money. IN WITNESS WHE EOF, Borrower has xecuted this Mortgage. Borrower: _ Borrower: Kr sten Zwick STATE OF NEBRASKA ) ) SS. COUNTY OF HALL ) The foregoing instrument was acknowledged before me on this 21st day of May, 2010, b~ICt'isten Zwick, an unmarriedj{~divid~ .-.~.~.. GENERAL NQ'tAR~~of Nebraska otary Public SHERRI t.. CALLAGHAtV My Comm, Exp. Sept. 28, 2011 My Commission Expires: Revised Feb 2006 Page 2 of 2