|
20100�84�
<br />13. Jofnt and Several Liability; Co-signers; Successnrs and Assigns Bound. Borrower covenants and agrees
<br />that Borrower's obligations and liability shall be �oint and several. However, any Borrawer who ca-signs this Security
<br />Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security instrument only to mortgage, grant
<br />and convey the co-signer's interest in the Property under the terms ofthis Security lnstrument; (b) is not persoually obligated
<br />to pay the sums secured by this Security Instrument; and (c) agrees that Lendar and a�iy other Barrower ca�i agree to extend,
<br />modzfy, forbear or make a�iy accommodations with regard ta the terms of this Security Instrument or the Note without the co-
<br />signer's consent.
<br />Subject to the provisions of Section 18, a��y Successor in Interest ofBorrower who assumes Borrower's obligations
<br />under this 5ecurity Instniment in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under
<br />this Security lnstrument. Borrower shall not be released from Borrnwer's abligations and liability under this Security
<br />lnstrument unless Lender agrees to such ralease in writing, The covenants and agreements ofthis Security lnstrument shall
<br />bind (except as provided in Section 20) and benefit the successors and assigns of L.ender.
<br />14. Loan Charges. I.ender may charge Borrower fees for services performed in car►nection with Borrower's
<br />default, for the purpose of protecting Lender's interest in the Praperty and rights under this Security Tnstrument, including,
<br />but not lim ited to, attorneys' fees, property inspection and valuatio�i fees. 1n regard to any other fees, the abscnce of express
<br />authority in this Security Instrument to chazge a specific fee ta Borrower shall not be construed as a prohibition on the
<br />charging of such fee. Lender may not charge fees that are expressly prohibited by this Securiry lnstrument or by Applicable
<br />Law.
<br />lf the Loan is subject to a law which sets maximum loan char$es, and that law is finally interpreted so that the
<br />interest or other loan charges collected or to be collected in com�ection with the Loan exceed the permitted limits, then: (a)
<br />any such loan charge shall be reduced by the amount necessary to reduce the charge ta the permitted limit; a��d (b) any sums
<br />already collected from Borrower which exceeded permitted limits will be refunded tv Borrower. Lender may choose to make
<br />this ret'und by reducing the principal pwed under the Note or by making a direct payrnent to Borrower. lf a refund reduces
<br />principal, the reduction will be treated as a partial prepayment without any prepayme��t charge (whether or not a prepayment
<br />charge is provided for under the Note). Borrower's acceptance af any such refund made by direct payment to Borrower will
<br />const�tute a waiver of any right of action Borrower might have azising out of such overcharge.
<br />1S. Notices. All notices given by Borrower or I,ender in cannectipn with this Security lnstrument must be in
<br />writing. Any notice to Sorrower in connectipn with this Security Instrument shall b� deemed to have bean given to Barrower
<br />when mailed by first class mail or when actually delivered to Borrower's notice address ifsent by other means. Notice to any
<br />one Borrower shall canstitute nntice to all Borrowers unless Applicable Law expressly requires otherwise.. The notice
<br />address shall be the Property Address unless Borrower has designated a substituta notice address by notice tp Lender.
<br />Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting
<br />Borrower's change ofaddress, then Borrower shall only report a change ofaddress through that specified procedure. There
<br />may be only one designated notice address under this Security Instrument at any one time. Any notice to L.ender shall be
<br />given by del�vering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated
<br />another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have
<br />been given to Lender until actually received by Lender. If any notice required by this 5ecurity Instrument is also required
<br />under Applicable Law, tl�e Applicable Law requirement will satisfy the corresponding requirement under this Security
<br />Instrument.
<br />16. Governing Law; Severability; Rules of Construction. 'I'his Security lnstrument shall be governed by
<br />federal law and the law of the �urisdiction in which the Property is located. All rights and obligations contamed in this
<br />Security Instrument are subject to any requirements and limitations ofApplicable Law. Applicable Law might explicitly or
<br />implicitly allow thc parties to agree by contract or it might he silent, but such silence shall not be construed as a prohibition
<br />aga�nst agreement by contract. In the event that any prav�sion or clause ofthis Security Instrument or the Note contlicts with
<br />Applicable Law, such conflict shall not affect other provisions ofthis Security Instrument or the Note which can be given
<br />effect withaut the conflicting provision.
<br />As used in this Security Instrument: (a) words ofthe masculine gender shall mean and include comesponding neuter
<br />words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the
<br />word "may" gives sole discretion withput any obligation to take any action.
<br />17. Borrower's Copy. Barrower shall be given one copy ofthe Notc and ofthis Security lnstrument.
<br />18. Transfer of the Property or a Bene�c�al lnterest in Borrower. As used in this Section 18, "Interest in the
<br />Property" means any legal or beneficial interest in the Property, including, but not limited to, those baneficial interests
<br />transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the iiitent ofwhich is the
<br />transfer of titic by Borrower at a future date to a purchaser.
<br />Tf all or any �art ofthe Property or any Interest in tlie Property is sold or transferred (or ifBorrower is not a natural
<br />person and a benefic�al interest in Borrower �s sold or transferred) withnut Lender's prior written consent, Lender may
<br />require immediate payment in full of all sutns secured by this Security ]nstn►ment. However, this option shall not be
<br />exercised by Lender if such exercise is prohibited by Applicable Law.
<br />If Lender exercises this option,l.ender shall give Borrower a�otice of acceleration. The notice shall provide a period
<br />of not less than 30 days from thc date the notice is given in accordance with Section 15 within wl�ich Borrower must pay all
<br />sums secured by this 5ecurity Instrument. lf Borrower fails to pay sums prior to the expiration ofthis period, L.ender
<br />may invokc any remedies permitted by this Security Instnzment wathout further notice or demand on Borrower.
<br />19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditians, Sorrower shall
<br />have the riglrt to have enfarcement of this Security lnstrument discontinued at any time privr to the earliest of: (a) fiva days
<br />before sale of the Property �ursuant to anx power of sale contained in this Security Instrument; (b) such other period as
<br />Applicable Law n�ight spec�fy for the terminat�on of Borrower's right to reinstate; or (c) entry af a judgment enforcing this
<br />Security Ia�strument. Those conditions aze that Borrower: (a) pays Lender all sums which then would be due under this
<br />Security Instrumei�t and the Note as if no acceleratio» had occurred; (b) cures any default of any ather covenants or
<br />agreements; (c) pays all expenses incurred
<br />in enforcii�g this Security Instrument, including, but not limited to, reasanable attorneys' fees, property inspection and
<br />valuation f�es, a��d other fees incurred for the purpose of protecting Lender's interest in the Froperty and rights under this
<br />Security Instrument; and (d) takes such action as L.ender may reasonably require to assure that Lender's interest in the
<br />Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security
<br />Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one
<br />or more of the following forms, as selected by Lender: (a) cash; (b) money arder; (c) certified check, bank check, treasurer's
<br />check or cashier's check, provided any sucli check is drawn upon a�� inst�tution whose deposits are insured by a federal
<br />agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, tl�is Security
<br />Instrument aud obligat�ons secured heraby shall remain fully effective as if no acceleration had accurred. However, this right
<br />ta reinstate shall not apply in the case of acceleration under Section 18.
<br />20. Sale of Note; Change of Loan Servicer; Notice of GrievAnce. The Note or a partial interest in the Note
<br />(together with this Security Instrument) can be sold one or mora times without prior notice to Borrower. A sale might result
<br />in a change in the entity (known as the "Loan 5ervicer") that collects Periodic Payments due under the Note and this Security
<br />Instrument and perfornis othcr mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable
<br />Law. There also might be one or more changes of the Loan Servicer unrelated to a sale af the Note. if there is a change of
<br />the Loa�i Servicer, Borrower will be given wr�tten notice oftl�e change which will state the name and address ofthe »ew
<br />NEBRASKA--Siiigle Family--Fannie Mae/Freddie MAC UNIFORM INSTRLiMENT (MER5) Form 3028 1/Ol (yage 6 of 8 pagesJ
<br />12a39.CV (I/08) 03-1127 Creative Thinking, Inc.
<br />GOTO(00231c47)
<br />
|