|
2011�Q2r7
<br />13. Joint and Several Iaiability; Co-signers; Successors and Assigns Sound. Borrowercovenants and agrees
<br />that Borrower's obligations and liability shall be joint and several. However, any Borrower who ca-signs this SecuriCy
<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 of this Security Instrument; (b) is not personally obligated
<br />to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend,
<br />modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note withaut the co-
<br />signer's consent.
<br />Subject to the provisions of Section 18, any Successor in Interest ofBorrower who assumes Borrower's obligations
<br />under this Security Instrument in writing, and is approved by L.ender, shall obtain all ofBorrower's rights and benefiGs under
<br />this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security
<br />Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall
<br />bind (except as provided in Section 20) and benefit the successors and assigns of I,ender.
<br />14. Loan Charges. I.,ender may charge IIorrower fees for services perf'ormed in connection with Borrower's
<br />default, for the pu►pose of protecting Lender's interest in the Property and rights under this Security Instrument, including,
<br />but not limited to, attorneys' fees, property inspection and valuation fees, In rcgard to any other fees, the absence of express
<br />authority in this Security Instrument to char�e a specifrc fee to Borrower shall not be construed as a prohibition on the
<br />charging of such fee. Lender may not charge tees that are expresslyprohibited by this Security Instrument or by Applicable
<br />Law.
<br />If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the
<br />interest or other loan chargcs calfected or to be collected in connection with the I,oan exceed the permitted limits, then: (a)
<br />any such loar► charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums
<br />already collected from Borrowcr which exceeded permitted limits will be refunded to Borrower. I.ender maychoose to make
<br />this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. Ifa refund reduces
<br />principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment
<br />charge �s provided f'or under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will
<br />constitute a waiver of any right of action Borrower might have arising out of such overcharge.
<br />15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in
<br />writing. Any notice to Borrower in connection wifh fhis Security Instrument shall be deemed w have been given to Borrower
<br />when mailed by firtit class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any
<br />one Borrower shall constitute notice to all Borrowers unless Applicable L.aw expressly requires otherwise. The notice
<br />address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender.
<br />Borrower shall prornptly notify Lender of Borrower's change of address. if Lender specifies a procedure for reporting
<br />Borrower's change ot address, then Borrower shal I anly report a change of address through that specified procedure. There
<br />may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be
<br />given by delivering it or by mailing it by first class mail to Lender's address stated herein untess L.ender has designated
<br />another address by notice to Borrower. Any notice in connection with fhis Security Instrument shall not be deemed to have
<br />been given to Lender until actually received by I,ender. If any notice required by this Securitylnstrument is also rec�uired
<br />under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security
<br />Instrument.
<br />16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by
<br />federal law and the law of the ,jurisdiction in which the Property is located. All rights and obligations contained in this
<br />Security Instrument are subject to anyrequirements and limitations of Applicable Law. Applicable Law might explicitly or
<br />implicitly allow the parties to agree by contract or it rnight be silent, but such silence shall not be construed as a prohibition
<br />against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicGs with
<br />Applicable L.aw, such contlict shall not affect other provisions of this Security Instrument or the Note which can be given
<br />effect without the conflicting provision.
<br />As used in this Security Instrument: (a) words of the mascul ine gender shall rnean and include corresponding neuter
<br />words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice ve► and (c) the
<br />word "rnay" gives sole discretion without any obligation to take any action.
<br />17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument.
<br />18. Transfer of the Property or a Bene�cial Interest in Borrower. As used in this 5ection 18, "Interest in the
<br />Propert}�' means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interestti
<br />transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the
<br />transfer of title by Borrower at a future date ta a purchaser.
<br />If all or any part of the Property or any Interest in the Property is sold or transferred (or ifBorrower is not a natural
<br />person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may
<br />require immediate payment in full of all sums secured by this Security Instru►nent. However, this option shall not be
<br />exercised by Lender if such exercise is prohibited by Applicable L,aw.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all
<br />sums secured by this Security Instrument. If Borrower fails to pay these sums prioc to the expiratian ofthis period, I,ender
<br />may invoke any remedie5 permitted by this Securicy Instrument without further notice or demand on Borrower.
<br />19. Borrower's Right to Reinstate After Acceleration. IfBorrower meets certain conditions, Borrower shall
<br />have the right to have enforcement of this Security Instrument discontinued at any tirne prior to the earliest of (a) tive days
<br />before sale of the Property pursuant to any power of sale contained in this Security lnstrument; (b) such other period a5
<br />Applicable Law might specify for the termmation ofBorrower's right to reinstate; or (c) entry ofa)udgment enforcing this
<br />Security Instrument. Those conditions are that Borrower: (a) pay� L,ender all sums which then would be due under this
<br />Security Instrument and the Note as i£no acceleration had occurred; (b) cures any default of any other covenants or
<br />agreements; (c) pays all expenses incurred
<br />in enforcing this Security Instrument, including, but not limited 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 rights under this
<br />Security Instrument; and (d) takes such actian as Lender may reasonably require to assure that L.ender'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 r�quire that Borrower pay such remstatement sums and expenses in one
<br />or more of the fol lowing Forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's
<br />check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal
<br />agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security
<br />lnstrument and obligations secured hereby shall remain f'ulty effective as ifno acceleration had occuc However, this right
<br />to reinstate shall not apply in the case of acceleration under Section 1 S.
<br />20. Sale of Note; Change of Laan Servicer; Notice of Grievance. T'h� Nnte or a partial interest in the Note
<br />(together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale mi�ht result
<br />in a change in the entity (known as the "I.oan Servicer") that collects Periodic Payments due under the Note and this Security
<br />Instrument and performs other mortgagc loan scrvicing obligations under the Note, this Security Instrument, and Applicable
<br />L�w. There also might be one or more changes of the I.oan Servicer unrelated to a sale af the Note. If there is a change of
<br />the L.oan Servicer, Borrower will be given written notice of the change which will state the name and address of fhe new
<br />NCBRASKA--Single Family--Fannie Mae/Freddle Mac [1NIFORM IN5TRUMENT
<br />rza�9.cv �iios> 904606
<br />(MEItS) Form3028 1/Ol (/�age6nf8pugE•s)
<br />Crcative Thinking, Ine.
<br />c,oTO�ao i a�zs i �
<br />�/�
<br />�
<br />
|