|
Loan No: 100410090018 ���� O��a La � Dat�t ID: 485
<br />V W
<br />6. Conc�emnation. The procee:ds of any award or claim I'or dam<tgcs, ciirect or conseyuential, in connection with
<br />any condemnation or other taking of any part of the Prc�perty, or for conveyG�nce in placc of condcmnation, ��rc hereby
<br />assigned zind sl��ll be paid tc� Lender to the excent of thc full �imount oF the indebtc:dness that rcmains unp�iicl under t.hc
<br />Note ancJ this Security .Instrument. Lender sh all apply such proceeds to thc recluction of the indebtcdness under the Notc
<br />and this Sccuril.y l.nst.r��mcnc, t'irst to �ny delinquenc amounts applied in the order provided in paragr�ph 3, and thcn to
<br />prepayme�t oC principal. Any application of the prc�ceeds to the princip�il shall not extcncl or post�one thc; �lue dat� c�l'
<br />the monthly payments, which are refcrred to in paragraph 2, or change the amount c�f such paymcnt.s. Any c;xcess
<br />proceeds over z�n amount reyuired to pay all ouCstanding indebteclness under tk�c 1Vote and this Security InsCrument shall
<br />be paia to che entity legally entitled thereto.
<br />7. Ch�rges ta 13orrower and Protection of' l,ender's Rights in the Property. Borrower shall pay all
<br />governmcntal or municip�il charges, f:ines and impositions that are not includ�d in paragr<<ph 2. Borrc�w�r shall p��y thc;se
<br />obligations on timc direct.ly tc.� the entity which is owed thc payment. If failure to pay woula adversely affect Lendcr's
<br />interest. in the Property, upon Lender's request Borrower shall promptly furnish to Lendr;r receipts eviclencing thcsc
<br />paymc;nts.
<br />1C Borrower fails to make Chese payments or the payments required by paragraph 2, or fails to perform any othcr
<br />covenanls an�l agreements contained in this Security Instrument, or there is a legal proceedin�; that may signific<<ntly affect.
<br />�,ender's rights in the Property (such ��s a proceedinb in hankruptcy, for condemnation or to enforce 1<<ws or rcbul���ions),
<br />then Lender m�y dc> ancl pay whatever is necessary to prolect the; value ol' tt�e Property �ind Lencler's rights in thc
<br />Property, including payment oP taxes, hazard insur�ince and other iCems mentioned in paragraph 2.
<br />Any amounts disbursed by Lender unde;r this paragraph shtill become an �.idditional clebt of Borrower and bc
<br />secured by this SecuriCy Instrument. These amounts sh <�11 be�r interest from the clate of dishursement ac the Notc rate,
<br />and at thc option of Lender slYall be immediately due and payable.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrc�wer: (�i)
<br />agrees in writing to the payment c�f the obli;ation secured by the lien in a manner accept<�ble to Lender; (b) contests in
<br />good 1'aith the lien by, or defcnds against enforcement ol� the lien in, legal proceedin�s w}�ich in the Lencicr's opinion
<br />operale to prevenl the cnForc�:ment of che lien; or (c) secures from the holder of the licn an �greement satist'actory tc�
<br />Lender subordinating the lien tv this Security lnstrument. 1#� l�ender determinc:s that any part of the Property is suhje;ct
<br />t.o � lien which may att�in priority over this Sccurity Instrument, Lendc.r may give Borrc�wer a nc��ice idcntifying the lien.
<br />Borrower sh�l] s�itisfy thc. lien or take one or more of the actions set fortl� �ihove within l0 days of Che biving of notice.
<br />S. Fees. Lend�r may collea I�ees and chargcs auti�orized by the Secretary.
<br />9. Grounds for Acceleration of I)ebt.
<br />(a) D�fault. Lender may, except as limited by regulations issued by the SecreC<iry in Chc case ot� p��ymcnt
<br />defaults, require immediate payment in Full af all sums secured by this Sccurity lnstrument if:
<br />(i Borrower dc:faults by f�tiling to pay in full any monthly payment required hy tl�is Security lnstrument
<br />prior ko or on the duc date of the next monthly paymenc, or
<br />(ii) Borrowe:r defaults by t�ailinb, for a period oP thirty days, to perform any other obligations contz�inecl
<br />in this Security Intitrument.
<br />(b) 4ale Without Credit Approval. Lender shall, if permittcd by applicable law (includin�; section 341(d)
<br />oF the; Garn-St Germain Dcpositc>ry Institutions Act of ]982, 12 U.S.C. 1701j-3(�)) anci with Che prior <�pproval
<br />of th� Secretary, require immediate payment in Pull of all sums secured by this SecuriCy Instrument if:
<br />(i) Al] c�r part of the Property, or a beneficial interest in a trusc owning all or part of tt�c Property,
<br />is sold or otherwise transferred (ather than by devise or descent), and
<br />(ii) The .Property is not occupied by the purchaser or grantee ��s his or her princip<il residcncr;, or thc
<br />purchaser or grantee does so occupy the Property, but his or her credit has not becn ��pprovcd in
<br />accordancc: with the requirements of the Secrefary.
<br />(c) No W�iver. If circumstances occur that would permit Lcndcr co requirc immediate p�iyment in full, hut
<br />Lencicr does not require such payments, L.ender docs not waive its rights wich respect to subsequent cve;nts.
<br />(d) Re�ulations of' HUll Secretary. In many circumstances regulations issucd by thc SecrcC�iry will limit
<br />Lender's rig}its, in che case of paymcnt defaults, to reyuire immediate paymcnc in full anct t�<�reciose il' nc�t
<br />p�id. This Security Instrument does not authorize �icceleraCion or forecic�sure if not permitted by regulations
<br />oi' Che Secrctary.
<br />(e) Mort�age Not Insured. Bc�rrower agrccs that if this Sccurity Instrument and fhe Notc are not determined
<br />to be eli�ible for insurance under thc National Housing Act within �)U days from che d<<t� hereof, Lcndc;r may,
<br />at it.s apticm require immediate payment in full �f' all sums secured by this Securicy Inst.rumcnt. A writ.tcn
<br />statement of any authorired atlent of the Secretary d�ited subsequent to 90 days (�rom the datc hereoC,
<br />declining to insure this Security Instrument and che Note, shall be deemed conclusive proot� of such inclibibility.
<br />Notwithstanding the foregoing, lhis op�ion may not be exercised by Lendc:r when t.he unav��il <�f insur`rince
<br />is solely due tc� Lender's failure to remit a mortgage insurance premium to the Secret<try.
<br />l0. Reinstatement. Borrower has a ri�ht to be re;instated if Lender has rc:yuired immedi�ite p�yme;n� in full
<br />because c7f Borrower's failure to pay an amount due under the .Nc>te or this SccuriCy Instrument. This ri�ht applies cven
<br />after foreclosure proceedings are instituted. To reinstate thc Security Instrument, Bc.�rrower shall cen�er in �+ lump sum
<br />all amounts reyuired tc> bring Borrower's accc�unl current includinD, to the exlenl they are oblibations ot Borrowcr under
<br />�his Security Instrument., foreclosure costs and reasonable and customary attorncy's fees ancl expc:nses properly �issoci�ted
<br />with the forcclosure praccedin�;. Upon reinslafement by Borrower, lhis Sccurity Instrument �ind the oblig<<fions that it
<br />secures shall remain in effect �is if �.ender had not required immediate payment in full. However, Lender is not rc;yuirecl
<br />ro permit reinstatemenc if: (i) L,ender has accepted reinstatement after the commencement ot' foreclosure pr<�ceedin�;s
<br />within two years immediately preceding the commencement of a currcnt foreclosure proceeding, (ii) reinstacemcnt will
<br />prcclude fc�reclosure on differenC grounds in the future, or (iii) reinstatement will adve;rtiely affect thc priority ol' ch� lien.
<br />creatcd by this Security Instrument.
<br />ll. Borrower Not Rele�sed; Forbearance By L,ender Not a Waiver. Extension of the time of payment or
<br />modification of amortization of the sums secured by this Security Instrument gr�nted by �.endcr to any successor in
<br />interest of Borrower shall n��c operate to release the liability of the nriginal Borrowcr or Borrower's successor in intere:tit.
<br />Lender shall not be required to commence pr�ceedinKs �igainst any successor in interesc or reluse to uxtend time for
<br />payment or othcrwise modii'y amortiration of the sums securecl by this Security Cnstrument by re�scm oP any dcm��nd made
<br />by the c�ri�;inal Borrowcr or Borrower's successc�rs in interest. Any forbearance by Lender in exercisin�; any ri�ht or
<br />remcdy shall not bc a waiver of or preclude the exercise of any right or remedy.
<br />NEBRASKA FHA DEED OF TRUST t/o2 (Page 3 of 5 Pages)
<br />
|