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201007097 <br />successors in interest. Any forbearance by Lender in exercising any right ar remedy shall not be a waiver of <br />ar preclude the exercise of any right or remedy. <br />12. Successors and Assigns Bound; Joint and Several Liability; Caslgners. The covenants and <br />agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and <br />Harrower, subject to the pravisians of Paragraph 9(b). Borrower's covenants and agreements shall be joint <br />and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is ca <br />signing this Security Instrument only to mart age, gent and convey that Borrower's interest in the Property <br />under the terms of this Security Instrument; ~b) ss not personally obligated to pay the sums secured by this <br />Security Instrument; and (c) agrees that Lender and any other Harrower may agree to extend. modify, forbear <br />or make any accommodations with regard to the term of this Security Instrument or the Note without that <br />Borrower's Catscnt. <br />13. Not[ces. Any notice to Borrower provided for w this Security instrument shall be given by <br />delivering it or by mailing it by first class mail unless applicable law requires use of another method. The <br />notice shall be directed to the Froparty Address or any other address Borrower designates by notice to <br />Lender. Any notice t4 L,ender shall be given by first class mail to Lender's address stated herein ar any <br />address Lender designates by notice to Borrower. Anynotice provided for in this Security Instrument shall be <br />deemed to have been given to Horrower or Lender whrn liven as provided in this paragraph. <br />l~. Governing haw; Severabtlity. This Securtty Instrument shall be governed by Federal law and <br />the law of the jurisdiction in which the Property is located, in the event that any provision or clause of this <br />Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other prnvisians <br />of this Security lnstrumcnt ar the Nnte which can be roan effect without the conflicting pro~•ision. To this <br />end the pravistons of this Security Instrument and the Note are declared to be severable. <br />15. Borrower's Capy. Borrower shall be given one ennfartned copy of the Note and of this <br />Security Instrument. <br />16. Hazardous 5ubatances. Borrower shall not cause ar permit the presence, ttse, disposal. storage, <br />or release of any Hazardous Substances on or in the Property. Borrower shall not da. nor allow anyone else to <br />do, anything atI'ecting the Property that is in violation of any Environmental Law. The preceding two. <br />sentences shall not apply to the presence, use, ar storage an the Property of small quantities of Hazardous <br />Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of <br />the Property. <br />Borrower shall promptly give Lender written naticx of any investigation. claim, demand, lawsuit nr <br />other action by any governmental ar regulatory agency ar private pa involving the Property and an <br />Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If $orrowcr learns, or <br />is notified by any governmental nr regulatory authority, that any removal or other remediation of any <br />Hazardous Substances affecting the Property is necessary, Borrower shall promptly take all necessary <br />remedial actions in accardancc with Environmental Law. <br />As used in Wis paragraph 16, "Hazardous Substances" arc those substances defined as toxic ar <br />hazardous substances by Environmental Law and the following substances; gasoline, kerosene, other <br />flammable or toxic petroleum products, toxic pesticides and herbicides. volatile solvents, materials <br />containing asbestos or formaldehyde, and radioactive materials. As used in the paragraph lb, "Environmental <br />[aw" means federal laws and laws of the jurisdictiaa where the Property is located that relate to health, <br />safety or envirnnmcntal protection. <br />NON-UNIFOl3M COVENANTS. Borrower and Lender further covenant and agree as follows: <br />l7. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents <br />and revenues of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues <br />and hereby directs each tenant of the Property to pay the rents to Lender ar Lender's agents. However, prior <br />to Lender's notice to .Borrower of Borrower's breach of any covenant or agreement in the Security <br />instrument, Borrower shall collect and receive all rents and revenues of the Frapel•ty as trustee for the benefit <br />of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment <br />far additional ssxtuity only. <br />If Lender gsves notice of breach to Borrower: (a) all rents received by Borrower shall be held by <br />Borrower as trustee for benefit of Lender only. to be applied to the sums secured by the Security Instrument: <br />(b) Leader shall be entitled to collect and receive all of the rents of the Property; and (c) each tenant of the <br />Property shall pay all rents due and unpaid to Lender ar Lender's agent nn Lender's written demand to the <br />tenant. <br />Borrowcx has not executed any prior assignment of the rents and has not and will oat perform any <br />act that would prevent Lender from exercising its rights under this Paragraph l7. <br />Lender shall not be required to enter upon, take Control of or maintain the Property before ar after <br />giving notice of breach to Borrower. However, Lender ar a judiciall~- appointed receiver may do so at any <br />time there is a breach. Any application of rents shall not curd or waive any default or invalidate any other <br />right or remedy of Lender. 'This assignment of ants of the Property shall terminate when the debt secured by <br />the Security Instrument is paid in full. <br />18. Foreclosure Procedure. if Lender requires immediate payment In full under Paragraph 9, <br />Leader may invoke the power of sale and any other remedies permitted by Applicable Law. Lender <br />shall be entitled to collect aU expenses incurred to pursuing the rentedles provided in this Section 18, <br />Including, but not limited to, reasonable attorneys' fees and costs of title evidence. <br />If the power of sale is invoked, Trustee shag record a notice of default In each county in which <br />arty part of the Propparty is located and shall mall copies aP such notice in the manner prescribed by <br />Applicable Law to Borra-ver and to the other persons prescribed by Applicable haw. After the time <br />required by Applicable Law, Trustcc shall give public notice of sale to the persons and in the manner <br />prescribed by. Applicable Law. 'trustee, without demand on Borrower, shall self the Pcoparty at.public <br />auction to the highest bidder at the time and place and under the terms: designated la the notice of sale <br />in one or more parcels and in any order Trustee determines, Trustee may postpone sale of all or any <br />parcel of the Property by public anaotmcement at the time and place of any previously scheduled salt. <br />Lender or its designee Wray purchase the Property at any sale. <br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed <br />conveying the Property. The reef tale in the Trustee's deed shall be prima facie evidence of the truth of <br />the statements made therein. Trustee shall apply the proceeds of the sale in the fogowing order: (a) to <br />all costs and aspen:es of exercising the power of sale, sad the sale, including the payment of the <br />Trustee's fees actually incurred and reasonahle attorneys' fee: as permitted by Applicable Law; (b) to <br />all stoma secured by this Security Instrument; and (¢) say excess to the person or persons Irg>tlly <br />entitled to it. <br />If the Lender's interest in this Security lnsrrumeut Is held by the Secretary and the Secretary <br />requires immediate payment in full under Paragraph 9, the Secretary Wray invoke the aonJudictal <br />16256.CV (l l/07) 42tt0618 <br />~ 4 pf S FI IA Na6raska I]ned of 7nut At ENS <br /> <br />GQTn(0fl4dQa51) <br />