|
' ' °'�" �' ° 2010U9014
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of
<br />not less than 30 days from the date the notice is given ►n accordance with S�etion 15 within which Borrower must pay all surns
<br />secure:d by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may
<br />invoke any remedies permitted by this Security instrument without further notrce or demand on Borrower.
<br />19. Borrower's Right to Reinstate After Acceleration. If Borrower mcets certain conditions, Borrower shall have the
<br />right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale
<br />of the Property pursuant to any power of sale contained in this Security Tnstrument; (b) such other perioci as Applicable Law
<br />might specify for the termination of F3orrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument.
<br />Those conditinns are that Borrower: (a) pays I,ender all surns which then would be due under this Security Instrument and the
<br />Note as if no acceleration had c>ccurred; (b) cure5 any default of any other covenants or agreements; (c) pays all expenses
<br />incurred in enforcing this 5ecurity Instrurnent, including, but not lunited to, reasonable attorneys' fees, property inspection and
<br />valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rrghts under this
<br />Security Instrument; and (d) takes such action as Lender may reasanably require to assure that I,ender's interest in the Property
<br />and rights under this Security Instrument, and 13orrower's obligation to pay the sums secured by this Security Instrurnent, shall
<br />continue unchanged. Lender may requirc that Borrower pay such reinstatement surns and expenses in one or more of the
<br />following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or
<br />cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency,
<br />instrumentality or entity; or (d) I;lectronic Funds Transfer. LTpon reinstatement by Borrower, this Security Instrument and
<br />obligatians secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall
<br />not apply in the case of acceleration under Sectton 18.
<br />20. Sale of Note; Change of I�aan Servicer; Notice of Grievance. The Nc�te or a partial interest in the Note (together
<br />with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change
<br />in the entity (known as the "Loan Servicer") that collects Periodic Paym�nts due under the Note and this Security Instrument
<br />and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There
<br />also might be one c7r more chan�es of the I.nan Servicer unrelated fo a sale of the Note. If there is a change of the Loan
<br />Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer,
<br />the address to which payments should be made and any othe:r information RESPA requires in connection with a notice of
<br />transfer of servicing. If the Note is sold and th�reafter the Loan is serviced by a Loan Servicer other than the purchaser of the
<br />Note, the mortgage loan servicing obligations to I3orrower will remain wifh the Loan Servicer or be transferred ta a successor
<br />I.nan Servic�r and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser.
<br />Neither Borrower nnr Lender may commence, join, or be joined to any judictal action (as either an individual litigant or
<br />the member of a class) that arises from the other party's actions pursuant to fhis 5ecurity Instrument or that alleges that the
<br />oth�r party has breached any provision of, or any duty owed by reason of, this 5ecurity Instrutnent, until such Borrower ar
<br />Lender has notificd the other party (with such notice given in cotnpliance with the requirements of Section 15) of such allegeci
<br />breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If
<br />Applicable Law provides a time period which tnust elapse before certain action can be taken, that time period will be deemed to
<br />be reasonable for purposes of th�s para�raph. The notice nF acceleration and opportunity to cure given to Borrower pursuant to
<br />Section 22 and the notice af acceleration given to Borrower pursuant to Sect�on 1$ shall be deemed to satisfy the notice and
<br />opportunity to take corrective actic�n provisions of this Section 20.
<br />21. I�azardous Substances. As used in this Section 2l: (a) "f3azardc�us 5ubstances" are those substances defined as
<br />toxic or hazardous substanccs, pollutants, or wastes by Environmental Law and the following substances: �asolin�, kernsene,
<br />other flammable or toxic petroleum products, toxic pesticides and herbicides, volatil� snlvents, materials contammg asbestos or
<br />formaldehydc, and radioactive materials; (b) "Environmental Law" rneans federal laws and laws of the jurisdiction where the
<br />Property is located that relate to health, safety or environmental prot�etion; (c) "�;nvironmental Cleanup" includes any response
<br />action, remedial action, or reznoval action, as defined in Environmental Law; and (d) an "�nvironmental Condition" means a
<br />condition that can cause, contribute to, or c�therwise trigger an Environmental Cleanup.
<br />�orrower shall not caus� or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or
<br />threaten to release any Hazardous Substances, on or in th� Property. Borrower shall not do, nor allow anyone else to do,
<br />anything affecting the Property (a) lhat is in violation of any Environmenlal Law, (b) which creates an Environmental
<br />Condition, or (c) which, due to the presence, use, or release of a I�azardous Substance, creates a condition that adversely
<br />affects the value of the Praperty. The preceding two sentences shall no[ apply to the presence, use, or storage on the Property
<br />of small quantities of Ha�ardous Substances that are generally recognized to be appropriate to normal residential uses anci to
<br />rnaintenance of the 1'roperty (including, but not limited tn, hazardous suhstances in consumer products).
<br />$orrower shall promptly giv�: Lcnder written noticc of (a) any investigation, claim, detnand, lawsuit or other �ction by
<br />any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Envirorunental
<br />Law of which Borrnwer has actual knowledge, (b) any �nvironmental Condition, including but not limited to, any spilling,
<br />leaking, discharge, releas� or [hreat of release of any Hazardous Substance, and (c) any condition caused by the presence, use
<br />or release of a Hazardous Suhtitance which adversely affects the value of the Property. If Borrower learns, or is notified by any
<br />governmental or r�gulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance
<br />affecting the Property is nec�ssary, Borrower shall promptly take all necessary rem�dial actions in accordance with
<br />Environmental Law. Nolhing herein shall create any obligatinn on Lender for an Environmental Cleanup.
<br />NON-UNIFORM COVENANTS. Borrower and L�nder further covenant and agree as follows:
<br />22. Acceleration; Remedies. Lender shall give nolice to Borrower prior to acceleration following Borrower's
<br />breach of any covenanl or agreement in this SecuriCy Instrument (but not prior to acceleration under Section 18 unless
<br />Applicable Iaaw provides otherwise). The noCice shall specify: (a) the default; (b) the action required ta cure the default;
<br />(c) a date, not less than 30 days From the date the notice is given lo Borrower, by which the default must be cured; and
<br />(d) that failure to cure the default on or before the date speci�ed in ihe notice may result in acceleration aP the sums
<br />secured by this Secur3ly Instrument and sale of the Prnperty. The potice shall further inform Borrawer of the right to
<br />reinstate after acceleralion and the right to bring a court action to assert the non-existence of a default or any other
<br />defense of Borrower tu acceleration and sale. If th� defuult is not cured on or before the date specified in the notice,
<br />Lender at its option may require fmmediate payment in full of a11 sums secured by this Security Instrument without
<br />f�urther demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be
<br />entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited
<br />to, reasonable atlarneys' fees and costs of title evidence.
<br />If the power of sale is invoked, Trustee shall recard a notice of default in each county in wh�ich any part of the
<br />Property is located and shall mail copies of such notice in the rnanner prescribed by Applicable Law to Borrower and to
<br />the other persons prescribed by Applicable I�aw. After the time required by Applicable Law, Trustee shall give public
<br />notice of sale to the persons and in thc manner prescribed by Applicable Law. Trustee, w3thout demand on Borrower,
<br />shall sell the Property at public auclion to the highest bidder at the time and place and under the t�rms designated in the
<br />notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel
<br />of the Property by public anuouncemenC at the time and place of any previously scheduled sale. Lender or its designee
<br />may purchase the Property at any sale.
<br />Upon receipt of payment oF the price bid, Trustee shall deliver to the purchaser Trustee's deed canveying the
<br />Property. The recitals in the Trustee's deed shall be prima facie evidence of the truCh of Che statements made therein.
<br />Trustee shall apply the proceeds of the sale in the following order: (a) to all costs and expenses oF exercising the power of
<br />sale, and lhe sale, including the payment of the Trustee's fees actually incurred and reasonable attorneys' fees as
<br />permitted by Applicable Law; (b) lo all sum� secured by this Security Instrument; and (c) any excess to the person or
<br />persons legally enlitled to it.
<br />NEBRASKA-5ingle Family—Fannie Mae/Freddie Mae UNIFORM INSTRUMENT Form 3028 1/07
<br />Bankers Systems, Inc., St Clnud, MN Form MU•1•NE 817712UOU (Page 6 of 7pages)
<br />
|