201102936 - Laserfiche WebLink

Browse

20��U2�3� from the date hereof, Lender may, at its option, require immediate payment in full of all suxns secwed by this Secwity Instrument. A written statement of any suthorized agent of the Secretary dated subsequent to 6 0 DAYS from the date hereof, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavailability of insucance is solely due to Lender' s failwe to remit a mortgage insurance pretnium to the Secretary. 10. Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment in full because of Bonower' s failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure proceedings aze instituted. To reinstate the Security Inshvment, Bonower shall tender in a lump sum all amounts required to bring Borrower's account cwrent including, to the extent they aze obligations of Borrower under this Security Instrument, forecloswe costs and reasonable and customary attomeys' fees and expenses properly associated with the forecloswe proceeding. Upon reinstatement by Bonower, this Security Instrument and the obligations that it secures shall remain in effect as if Lender had not required itnmediate payment in full. However, Lender is not required to pernut reinstatement i£ (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two yeazs immediately preceding the commencement of a cunent forecloswe proceeding, (ri) reinstatement will preclude foreclosure on different grounds in the future, or (iri) reinstatement will adversely affect the priority of the lien created by this Security Instrument. 11. Borrower Not Released; Forbearance by Lender Not a Waiver. Extension of the time of payment or modification of amortization of the swns secured by this Security Instrument ganted by Lender to any successor in interest of Bonower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commecice proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the swns secwed by this Security Inst�vment by reason of any demand made by the original Borrower or Borrower' s successors in interest. Any forbeazance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of pazagraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs Uus Security Instrument but dces not execute the Note: (a) is co-signing tlris Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Inshument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borcower may agree to extend, modify, forbeaz or make any accommodations with regard to the tern�s of this Security Instrument or the Note without that Bonower's consent. 13. Notices. Any norice to Borrower provided for in this Security Instniment sha11 be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The norice shall be duected to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class tnail to Lender' s address stated herein or any address Lender designates by notice to Bonower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the jurisdicrion in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of Uus Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note aze declazed to be severable. 15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 16. Hazardous Substances. Borrower shall not cause or pennit the presence, use, disposal, storage, or release of any Hazazdous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that aze generally recognized to be appropriate to normal residential uses and to maintenance of the Property. Bortower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory authority, that any removal or other remediation of any Hazardous Substances affecting the Property is necessary, Bortower shall promptly take all necessary remedial actions in accordance with Environmental Law. As used in this pazagraph 16, "Hazazdous Substances" aze those substances defined as toxic or hazazdous substances by Environmental Law and the following substances: gasoline, kerosene, other flanvnable or toacic petroleum products, toxic pesricides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 16, "Environmental Law" means federal laws and laws of the jwisdiction where the Property is located that relate to health, safety or environmental protecrion. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 17. Assignment of Rents. Bonower unconditionally assigns and transfers to Lender all the rents and revenues of the Property. Bonower authorizes Lender or Lender' s agents to collect the rents and revenues and hereby d'uects each tenant of the Property to pay the rents to Lender or Lender' s agents. However, priar to Lender' s notice to Bonower of Bonower' s breach of any covenant or agreement in the Security Inshvment, Bonower shall collect and FHA NEBRASKA D� OF TRUST - MERS pp�y�� pppp� NmOTZ.FHA 11/01/08 Page4 of 7 www.docmagic.com II I II I II) I II I I( II I IIII I I II I I II I II II I I I I I I II I I I�II) I I III — . _ _