201007412 - Laserfiche WebLink

Browse

2oiuu�4i2 If the Property is abandoned by Borrower, or if, after notice by Lender ta Borrower that the Opposing Party (as de�ned in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, L�nder is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whorn $orrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in farfeiture of the Property or other material impairrr�ent of Leander's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgznent, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrurnent. 'I"he proceeds of any award or claim for damages that are attributable to the irnpairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Frope�ty shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payrnent or rnodi�cation of amortization of the sums secured by this Security Instrument granted by Lender to $orrower ar any Successor in Interest of Bortower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to cammence proceedings against any Successor in Interest of Borrawer or to refuse to extend time for payment or otherwise modify amortization oF the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbeaz�ance by I.,ender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in lnterest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. ].3. Joint and Several LiabIlity; Co-signers; Successors and Assigns Bound. Borrower covenanis and agrees that Barrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrutnent only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instrument; (b) is not p�rsonally obligated to pay the sums secured by this Securiry Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this �ecurity Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations undet this Security Instrument in writing, and is approved by Lender, sha11 obtain all of Borrower's rights and benefits under this Security Instrument. Borrower sha11 not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreennents of this Security Tnstrurnent shall bind (except as provided in SecCion 2�) and bene�t the successors and assigns of Lender. 14. Loan Charges. L.ender may charge Borrower fees for services performed in connection with Borrower's default, for Che purpose vf pratecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspectivn and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be constru�d as a prohibition on the charging of such fee. L,ender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable L,aw. lf the Loan is subject to a law which sets maximum loan charges, and that law is �na11y interpreted so that the intetest ar other loan charges collected or to be callect�d in cannection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the artaount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. T_,ender may choase to make this refund by reducing ihe principal owed under the Note or by making a direct payment to Borrower. If a refund reduc�s principal, the reductinn will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payznent to Borrower will constitute a waiver of any right of action Borcower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security lnstrurnent shall be deezned to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other rneans. Notice to any ane Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a subsCiCute notice address by notice to Le�der. Barrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instruznent at any one time. Any notice to L.ender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless �,ender has d�signated anather address by notice to Borrower. Any notice in connection with this Security lnstrument shall not be deemed ta have been giv�n to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under tbis Security Instrurnent. 16. Governing Law; Severability; Rules of Construction. This 5ecurity Instrument shall be gov�rned by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUM�NI" - MERS Form 302$ 1/01 Page 7 af 1 1 DocMagic �n°ott�r� soo-sas-�asa w w.docmegic.com .� � � Ne302R.mzd.xml