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20100758;
<br />12. Successors and Assigns Bound; Joint and Several T.iability; Co-Signers. The wvenants and agreements
<br />of' this Security Instrument shall bind and benefit the sucressors and assigns of L,ender and Borrower, subject to the
<br />provisions of paragraph 9(b). Borrawer's covc:nants and agrec�ments shall be joint and several. Any Borrower who co-
<br />signs this Security Instrument but d�es not execute the Note: (a) is ec�-signing this Security Instrument only to mortgage,
<br />grant and c�nvey that Borrower's interest in the Property under the terms of this S�:curity Instrument; (b) is not personally
<br />obligated to pay the sums secured by this Security Instrument; and (c) agrees that l..ender and any other Borrower may
<br />agree to extend, rnodify, forbear or make any accomcnadations w"rth regard to the terms of this Security Instrument or the
<br />Note without that Borrower's cansent.
<br />13. Notices. Any notice to Borrower provided far in Chis Security InsCrument shall be �;iven by delioering it or
<br />by mailing it by first class mail unless applicable law rcquires use of another method. The notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lend�r. Any notice to Ix:nder shall be given by
<br />first class mail to Lender's address stated herein or any address Lender designates by notice to Borr�wer. Any notice
<br />pxovided for in this Security Tnstrument shall be deemed to have been given ko Borrawer or Lender when given as
<br />provided in this paragraph.
<br />14. Governin� Law; Severability. This Security Instrurnent shall be governed by F'ederal law and the law of the
<br />jurisdiction in which the Property is located. In the event thac any provision or clause of this Security Instrument or the
<br />Note conflicts with appticable law, such conflict shall not afFect other provisions of this Security InsCrument nr the Note
<br />which can be given effect without khe conflicting provision. To this end the provisians of this Security Instrument and
<br />the Note are. d�clared to be severable.
<br />15. Burrower's C�py. Borrower shall bc given one wnformed c:c�py of the Note and of this 5ecurity Instrument.
<br />16. Hazardous Substances. Borrower shall not cause: or permit the presence, us�, disposal, storage, or release
<br />of any Harardous Substances on �r in the Property. Borrower shall not do, nor allaw anynne eLse to do, anything
<br />affecting the Property that is in violation of any Environrncntal Law. The preceding twa sentences shall not apply to the
<br />presence, use, or storage on the Property of small yuantities of Hazardous Substances that are generally recognized ta
<br />be appropriate to norrnal residential uses and tn maintenance af the Property.
<br />Borrower shall promptly give Lender written noCice af any investigation, claim, demand, lawsuit �r other actinn
<br />by any governrnental or rc�ulatory agency or private party involving the Property and any Hazardous Substance or
<br />Environmental Law of which Borrower has actual knowlcdge. Tf Borrower learns, or is notified by any governrnental or
<br />regulatory authority, that any removal or other remediation of any Hazard�us Substances affecting the Property i�
<br />necessary, Borrower shall promptly take all necessary remedial actions in accordance with Envirnnrnental Law.
<br />As used in this paragraph 16, "Hazardous Substanct;s" are thosc substances defined as toxic or hazardaus
<br />substanc:es by Environmental Law and th� following substanc;es: gasoline, kerosene, nther flammable ar toxic petroleum
<br />products, toxic pesticides arn,d hexbicides, volatile solvents, rnaterials c�ntaining asbestos or forrnaldehyde, and radioactive
<br />rnaterials. As used in this paragraph 16, "Environmental Law" means federal laws and laws of the jurisdiction whc:r� the
<br />Property is located that relate to health, safety nr �:nvironmental protection.
<br />Nox-UNiFOxM CovN;N.�Nrs. Borrc�wer and Lender further covenant and agree as follows:
<br />17. Assignment of Rents. Borrowcr unconditionally assigns and transfers ta Lender all the rents and revenues
<br />of the Property. Borrower authorizes L.ender or Lender's agents to collect the rents and revenues and hereby directs each
<br />tenant of the Praperty to pay the rents to Lender or L.ender's agents. However, prior to Lender's noticc to Borrower
<br />of Borrower's breach nf any covenant or agreement in the Security Instrumcnt, Borrnwer shall collect and receive a11 re�is
<br />and revenues of the Property as trustec: for the benefit of Lender and Borrower. This assignment of renis constitutes
<br />an absolute assignment and not an assignment far additional security only.
<br />If Lender grves notice of breach to Barrower: (a) all rents received by Borrower shall be held by Borrower as
<br />trustee for benefit of Lender only, to be applied to the sums secured by the Security Instrument; (b) L.ender shall be
<br />entitled ta c;cyllect and reu;ive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents due
<br />and unpaid to �.ender or I.ender's agent on Lender's written dem�and to the tenant.
<br />Borrower has not executed any prior assignment of the rents and has not and will not perform any �ct thac would
<br />prevent T..ender frorn exercising its rights under this paragraph 17.
<br />Lender shall not be rc;quired to cnter upon, take cantrol of or maintain the Property before or after giving notiu;
<br />�f breach to Borrawer. However, Lc;nder or a judicially appointed receiver tnay do so at any time there is a breach. Any
<br />application of rents shall noC cure or wa'rue any default or invalidate any other xi�ht or remcdy of Lc;ncier. This assignment
<br />of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full.
<br />18. 1�'oreclosure I'roceduce. 1f Lender requires immediate payment in t5�11 underr paragr�ph 9, I.,ender may
<br />invoke the power oC sale and any other remedies permittecl by applicable law. i,ender shall be entitled to cnllect
<br />all expenses incurred in pursuing th� remedies under this para�raph 1$, including, but not limited to, reasonable
<br />attorneys' fees and costs af title evidence.
<br />If the power of sale �s invoked, Trustee shall recc�r[I a notice of default in each connty in which any part oC
<br />the Property is located and shall mail copies af such notice in the mann�r prescribed by applicable law to Borrower
<br />and to the other persons prescribed by applicahle taw. Aft�r the time required by applicable law, Trustee shall give
<br />pahlic notice nf sale to the persons and in the manner �rescribed by applicable law. Trustee, without demand on
<br />Bonrower, shatl sell the Prt�perty at public auction to the highest bidder at the tinne and place and under the terms
<br />des�gnatecl in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may pastpone
<br />sale of al1 or any parcel of the Property by public announcement at the time and place of any previously scheduled
<br />sale. l.ender �r its designee may purchase the Piroperty at any sale.
<br />Upon receipt of paymept of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying
<br />the Piroperty. The recitals in the 1`rustee's deed shall be prima facie evidence of the truth of the statements made
<br />thereYn. Trustee shall apply the proceeds of the sale in the followin� order: (a) to �Il casts and expenses of
<br />exercisin� the power of sale, and the sale, including the payment of the Trustee's fees actually incurred and
<br />reasonabte attarneys' fees as perm(tted by law; (b) to all sams secured by this Secuirity Instru�ment; and (c) any
<br />excess to the person or persons legally entitled to it.
<br />If t�e Lender's interest in this Sccurity lnstrument is held by the Secret��ry and the Secretary requires
<br />immediate payment in full under Paragraph 9, the Secretary may 'rnvoke the nonjudieial power �f sale provided in
<br />the Single Family Mortgage Foreclosure Act oF 1994 ("Act") (12 U.S.C. 3751 et s. by requesting a foreclosure
<br />commissfoner designated under the Act to cnmmence foreclosure and to sell the Property as prnvided in the Act.
<br />Nothing in the preceding sent�nce shall deprive the Secretary of any rights otheiwise available to a Lender under
<br />this Paragraph 18 or applicable law.
<br />19. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustc;c
<br />to reconvey the I'roperty ancl shalt surrender this Security Instrument and all notes evidencing debt secured by this SecuriCy
<br />Instrument to Trust�e. Trustec: shall rec:vnvey thc Properry without warranty and without charge to the person or persons
<br />legally entitled to it. Such person or persons shall pay any rec:ordation costs.
<br />NEBRASKA FHA DEED OF TRUST 1/oz (Page 4 of 5 Pages)
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