|
2oii000�3
<br />If Lender exercises this optinn, Lender shall give I3orrower notice of acceleration. The notice shall provide a period of
<br />nc�t less tl�an 30 days from the date fhe r�otice is �iven in accordance with Section 15 within which Borrower must pay all sums
<br />secured by [his Security Instrumcnf. IF �3orrower fails to pay these sutns prior to the expiration of this period, Lender may
<br />invoke any rcmedies pennitted by this Security Tna[rument without furlhcr notice or demand on Borrower.
<br />l9. Borrower's Itighl to Reinslate After Acceleraiion. If Borrower meets cettain conditions, 13orrower shall have the
<br />right to liavc; enforcemenc of this Sccurity Instrument discontinued al any time prior to the earliest of: (a) five days befor� sale
<br />of tlie Property purst�ant to any p��wer ot �ale contained in this Security Inatrument; (b) such other period as Applicable Law
<br />mi};ht specii'y for lhe termination of Borrower's right ln reinstate; c>r (c) entry nf a judgment enforcing this Securiry Instrument.
<br />Those conditinns are thal B<>rrower: (a) pays I,ender all sums which lhen would be due under this 5ecurity Instrument and the
<br />Note as if nc� acceleraCion had occurrecl; (b) cures any default of any other covenants or agrcernents; (c) pays all expenses
<br />incurred in enforcing this Seciirity lnstrument, including, buf not limited [a, reasonable attorneys' fees, property inspection and
<br />valuation fees, and ather fees incurred for lhe purpos� of protecting I.ender's interest in tht Property and rtghts under this
<br />Security Instrument; and (d) takes such action as t.ender may reasonably require tn assure that Lender's interest in the Prop�rty
<br />and rights under this Secr�rity Inslrument, and I3orrower'� ��bligation to pay the sums secured by this Security Instrument, shall
<br />concinue unchangea. I.ender may r°equire that Borrower pay such reinstatement suzns and expenses in one or more of the
<br />following forms, as selected I�y Lender: (a) cash; (b) m�xiey ordei; (c) certificd check, bank check, treasurer's check or
<br />cashier's check, provicie�l any such check is clrawn upon an institulion whose deposits are insured by a federal agency,
<br />instrumentalily or entity; or (cl) Electrnnic I�urids Transfer. Upcm reinstatement by Borrower, this Security instrument and
<br />c�bli�ations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall
<br />not apply in ihe case of acceleration under Scction 18.
<br />20. Sale of Note; Change of I�oan Servicer; Notice af Grievance. The Note ar a partial interest in the Note (together
<br />with this Security instrurnent) can be sold one or more timcs wilho��t pric�r notice to �3orrower. A sale might result in a change
<br />in ttie enlily (known as lhe "(.o�n Scrvic�r"j ttiat collects Periodic Payments due under the Nate and this S�curity Instrument
<br />and perfc>rrns uiher mc>rt�age lc�ai� tiervicing ohligations under the Note, Qiis Security Instrurnent, and Applieable Law. There
<br />also might bc c�ne ��r more chan�es of the i.c>an Servicer unrelated to a tiale of the Note. IF there is a change of the Loan
<br />5ervicer, Borrowc;r will be given written notice ol' the cliange which will stale the name and ad�lress of the new I,oan Servicer,
<br />thc a�ldress to which payrnenis should be made and auy c�lher inforrnation 1ZESPA requires in connection with a nntice of
<br />transfer of servicing. If the Note i5 sold and thercxfter the l,oan is serviced by a I,nan Servicer other than the purchaser of the
<br />Note, the mortgage loan servicing obligations tci T3orrower will remain with thc I�oan 5ervicer or br transferred to a successor
<br />Loan Servicer and are not asswned by the Note purchaser unless otherwise provided by the Note purchaser.
<br />Neither Borrower nnr I,ender may commence, join, �>r be joine�l to any ,judicial action (as ei[her an individual litigant or
<br />the member nl' a class) that arises from the other party's actic�ns pursuant to this Security Instrument or that alleges that the
<br />olher party has Ureachcd any provision of, or any duty nwed by reason nf, this Security Instrurnent, until such Borrower or
<br />Lender has notified the olher party (wilh such notice give;n in cnmpliance with the requirements of Sectinn 15) of such alleged
<br />breach and al'forded the othcr party hereto a rea5onable peric>d xfter the giving of such notice to take corrective action. If
<br />Applicable Law provides a tirne period which must elapse befuc�e cerCain acti<:�n can be taken, that titne period will be deemed to
<br />bc reasanable for purpnseti of this paragraph. The notice of �cceleration and opport�mity to cure givc:n to Borrower pursuant to
<br />Section 22 and the notice c�f acceleralion given to Borrower pursuanc to Scctrc�n 18 shall be deemed to satisfy the notice and
<br />opport��nity to t�ike currective ac�ion pruvisions of tl�iti Section 2�.
<br />21. Hazardous Subslauces. As used 'u1 tt�is Section 21: (a) "Ilazardous Substances" are those substances defined as
<br />toxic or h�►z�r�c�us substances, pollutants, or wastes by Environmcntal Law and the follo�ving substances: gatioline, kerosene,
<br />other flammablc or toxic petroleum prnclucts, toxic pesticides and herbicides, volatile solvenls, materials containmg asbestos or
<br />formaldehyde, ancl r�idioactive matcrials; (b) "Envirnnme:ntal Law" means fcderal laws and laws of fhe jurisdiction where the
<br />Yroperly is located that relate to health, safety or cnvironmental protection; (c) "F.,nvironmental Cleanup" includes any response
<br />�ction, remedial action, c>r removal action, as defined in �;nvirc�rune;ntal I.aw; and (d) an "Envirnnmental Condition" mcans a
<br />condition that can cautie, cuntribute to, or otherwise trigger an Environmental Cleanup.
<br />Borrower shall not cause or permit the presence, use, dispasal, storage, or rel�ase of any Hazardous Substances, or
<br />threaten to release any Hazar�lnus Substanceti, on c>r in the Pr<�perty. .f3c�rrc�wer shall not do, nor allow anynne else to do,
<br />anything affecting the Property (a) that is in violation of any Envircmmental Law, (b) which creates an �,nvironmental
<br />Cc�ndilion, or (c) which, due co Qic presence, use, or rcicase of a Ilazardous Substancc�, creates a condition that adversely
<br />affects the value of the Prnperty. The preceding two sentences shall not apply tn the presence, use, or storage on the Property
<br />of small quantitics of Har.arclous Substances lhal are generaily recognized to be �ppropriate to normal residential uses and to
<br />maintenancc of the Prnperty (including, but not limitecl tu, hazardous suhstances in consumer products).
<br />Borrower shall promptly give Lender wriuen notice of (a) any investigation, claim, demana, lawsuit or other action by
<br />any govermnental or regulaloiy agency or private party involving ct►e Property and any Hazardar�s Subsfance or �,nvironmental
<br />Law of which Borrowcr has �ctual knowledge, (b) any F:nvir��nmental Condition, including but not limited to, any spilling,
<br />leaking, discharge, release or threat of release of any liazardous Substance, ancl (c) any condition caused hy the presence, use
<br />or release oF a Hazardous 5ubstance which adversely affects the value of lllt Property. If Borrower learns, or is notified by any
<br />governtnental or regulatory authority, or any private party, that any removal nr nther remediation of any Hazardous Substance
<br />affecting Che Praperly is nece�tiary, Borrower shall Promptly take all necessary remedial actians in accordance with
<br />�nvironmcnlal Law. Nothing herein shall create any obligation on Len�er Por an Environmental Cleanup.
<br />NON-UNIFORM COV�.NAN`C'S. $orrnwer and Lender further covenant and agree as follows:
<br />22. Acceleratioii; Remedies. Lendcr sltall give notice to l3orrower prior lc� acceleration following $orrower's
<br />breach of any covenant or a�;recmcnl in ihis Security Instrument (but nol prior to acceleration under Section 18 unless
<br />Applicable Law provide� olherwise). '1'he ��oti�e shall specify: (a) the default; (b) the action required to cure the default;
<br />(c) a dale, nol less lhan 30 days from the date the nolice is gi've�� to Borrower, by which the default must be cured; and
<br />(d) thal failurc lo cure the default on or before thc datc speci�ed in the notice may result in acceleratian oF llie sums
<br />secured by t1�is Security Inslrumcnt and sale of the I'roperty. The noiice shall further inform Borrower ot the right to
<br />reiustate after acceleration and lhc right ic► bring a court action to assert the non-existence of a default or any other
<br />defense of Borrower to accelcration a�id sale. If the default is not cured on or before the date speci�ed in the notice,
<br />Lender at its optian may require iminediate paymenC in full of all sums secured by this Security Instrument without
<br />further demand and may invoke the pawer of sale and any other remedies permitted by Applicable Law. L�ttder shall be
<br />(:I1�I��C(� �O ('O��C('� il�� cxpe�ities inctrrred i�i pur5uing the remeclies provided in this Seclion 22, including, but not limited
<br />to, reasonable attorneys' I'ecs and cosls �►f lille evidence.
<br />if thc Nower of salc is invoked, Trustee shall record a notice of default in each county in which any part oF the
<br />Property is localed and shall �nail copies of such notice in tlie manner prescribed hy Applicable Law to Borrower and ta
<br />the other persons prescribed by Applicable Law. Aficr lhe iime � by Applicable Law, Trustee shall give public
<br />nolice of salc lo tlie persons and in ihe manner prescribed by ApplicaUle Law. 'I'rustee, without demand on Borrower,
<br />shall scll ihc ProNerty at public auclic�n io ihc highctil bidder at the tinte and place and under the terms designated in the
<br />notice of sale iu oue or more parcels and in auy order Trusiee deiermines. Trustee may posCpone sale of all or any parcel
<br />of the Property by public a�momicenieut at the time and place of any previously scheduled sale. Lender or its designee
<br />may purchase the 1'roperty at any sale.
<br />Upon receipC of payment of the price nid, Trustee shall deliver to the purchaser 'frastee's deed conveying the
<br />Property. The recitals in the Trustec's deed shall be prima facie evideatce of the truth of the statements made therein.
<br />'1'rustee shall apply the �rc►ceeds «f Che sale itt Che following order: (a) lo all costs and expenses of exercising the power of
<br />sale, and the sale, i�icluding the payinent of the "t"rustee's fees actually incurred and reasonable attorneys' fees as
<br />permilted by Applicable Law; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or
<br />persons legally entilled to ii.
<br />NEBRASKA--Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMEN7 Form 302$ 1/09
<br />dankers Systems, Inc., St. Cloud, MN �orm M�-1-NE Hl17/2000 (pnke 6 of 7pages)
<br />
|