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2 O � O O I o �� V3 WBCD LOAN # 503065187
<br />(i) Borrower defaults byfailing to pay in full any monthly payment required by this Security Instrument prior
<br />to ar an the due date of the next monthly payment, or
<br />(ii) Borrower defaults by failing, far a period of thirry days, to perform any other abligatinns contained in this
<br />Security Instrument.
<br />(b) Sale Wlthaut Credlt Approval. Lender shall, if permitted by applicable law (including Section 341(d) of the
<br />Garn-St. Germain Depository Institutions Act nf 1982, 12 U,S.C. 1701j-3(d)) and with the priar approval of the
<br />Secretary, require immediate payment in full of all sums secured by this Security Instrument if:
<br />(i) All or part of the Praperty, or a beneficial interest in a trust owning all or part of the Property, is sald ar
<br />otherwise transferred (other than by devise or descent), and
<br />(ii) 1'he Properry is not occupied by the purchaser ar grantee as his or her principal residence, or the
<br />purchaser or grantee does sn occupy the Property but his or her credit has not been approved in accordance
<br />with the requirements of the Secretary.
<br />(c) Na Walver. If circumstances occur that would permit Lender to r�quire immediate payment in full, but
<br />Lender does not requir� such payments, Lender does not waive its rights with respect ta subsequent events.
<br />(d) Regulations of HUD Secretary. In many circumstances regulatinns issued by the Secretary will limit
<br />Lender's rights, in the case of payment defaults, to require immediate payment in full and foreclose if not paid.
<br />This 5ecurity Instrument doss not authorize acceleration ar foreclosure if not permitted by regulations of the
<br />Secretary.
<br />(e) Mortgage Not Insured. Borrnwer agrees that if this Security Instrument and the Note are nnt determined
<br />to be eligible for insurance under the National Mousing Act within 60 days from the date hereof, Lender may,
<br />at its option, require immediate payment in full of all sums secured by this Securiry Instrument. A written
<br />statement of any autharized agent of the Secretary dated subsequent to 60 days fram the date herenf, declining
<br />to insure this Senurity Instrument and the Note, shall be deemed conclusive proof of such ineligibility.
<br />Natwithstanding the foregoing, this nption may not be exercised by Lender when the unavailability of insurance
<br />is solely due to Lender's failure to remit a mortgage insurance premium to the Secretary.
<br />10. Reinstatement. Barrower has a right to be reinstated if Lender has required immediate payment in full because
<br />of Borrower's failure tv pay an amount due under the Note or this Security Instrument. This right applies even after
<br />foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all
<br />amounts required to bring Borrower's account current including, tn the extent they are obligations of Borrower under
<br />this Security Instrument, foreclosure costs and reasanable and customary attorneys' fees and expenses properly
<br />associated with the foreclosure proceeding. Upon reinstatement by Barrower, this Security Instrument and the
<br />obligations that it secures shall remain in effect as if Lender had not required immediate payment in full. However, Lender
<br />is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the commencement nf foreclosure
<br />praceedings within two years immediately preceding the commencement vf a current foreclosure praceeding, (ii)
<br />reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversely affect the
<br />priority of the lien created by this Security Instrument.
<br />11. Borrower Not Released; Forbearance By Lender Nat a Waiver. Eyctension of the time of payment or
<br />modificatian af amortization of the sums secured by this Security Instrument granted by Lender to any successor in
<br />interest of Borrower shall not operate ta release the liability of the ariginal Borrower or Borrower's successor in interest.
<br />Lender shall not he required to commence proc�edings against any successor in interest or refuse to extend time for
<br />payment or otherwise modify amortization af the sums secured by this Security Instrument by reason of any demand
<br />made by the original Borrower nr Borrower's successors in interest. Anyforbearance by Lender in exercising any right
<br />or remedy shall not be a waiver of or preclude the exercise of any right or remedy,
<br />12. Succassors and Asslgns Bound; Joint and Sever�l Llablllty; Co-Signers. The cnvenants and agreements
<br />of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrdwer, subject to the
<br />provisions af paragraph 9(b). Borrawer's covenants and agreements shall be joint and several. Any Barrower who
<br />cn-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument anly to
<br />martgage, grant and convey that Borrower's interest in the Properry under the terms of this Security Instrument; (b) is
<br />not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other
<br />Borrower may agree to extend, modify, forbear nr make any accommodations with regard to the terms of this Security
<br />Instrument or the Note without that Borrower's cnnsent.
<br />13. Notices. Any notice to Borrower provided fnr in this Security Ins#rument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. Th� notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given
<br />by first class mail to Lender's address stated herein or any address Lender designates by notice to �orrower. Any notice
<br />provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as
<br />provided in this paragraph.
<br />14. Governing L.aw; Severability. This Security Instrument shall be governed by Federal law and the law of the
<br />jurisdiction in which the Praperty is located. In the event that any provisian or clause nf this Security Instrument or the
<br />Note conflicts with applicable law, such conflict shall npt affect other provisions of this Security Instrument or the Note
<br />which can be given effect without the conflicting pravision. Ta this end the provisions of this Security Instrument and
<br />the Note are declared to be severable.
<br />15. Borrawer's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release
<br />of any Hazardaus Substances on or in th� Proper'ty. Borrower shall not do, nar allow anyone else to do, anything affecting
<br />the Properry that is in violation of any Environmental Law. The preceding #wo sentences shall not apply to the presence,
<br />use, or storage on the Praperty of small quantities af Hazardaus Substances that are generally recognized to be
<br />apprapriate to normal residential uses and #a maintenance af the Property.
<br />Borrower shall promptly give l.ender written natice of any investigation, claim, demand, lawsuit or other action by
<br />any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or
<br />�nvironmental l.aw of which Borrower has actual knowledge. If Bnrrower learns, or is notified by any governmental ar
<br />FNA Nebraska Dsed of Trust - 4/96
<br />Online Documents, Inc,
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<br />Initials: ��i�
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