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201�0314� from the date hereof, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. A written statement of any authorized 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 insurance is solely due to Lender' s failure to remit a mortgage insurance premium to the Secretary. 10. Reinstatemen� Bonower has a right to be reinstated if Lender has required immediate payment in full because of Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure proceedings are instituted. To reinstate the Security Instrument, Bonower shall tender in a lump sum all amounts required to bring Borrower's account cunent including, to the extent they are obligations of Bonower under this Security Instrument, foreclosure costs and reasonable and customary attorneys' fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Bonower, this Security Instrument and the obligations that it secures shall remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to permit reinstatement if (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years ixnmediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (in) 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 sums secured by this Security Instrument granted by Lender to any successor in interest of Bonower shall not operate to release the liability of the original Borrower or Bonower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Bonower or Bonower' s successors in interest. Any forbearance 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; CaSigners. 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 paragaph 9(b). Bonower's covenants and agreements shall be joint and several. Any Bonower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Bonower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by tlus Security Instrument; and (c) agrees that Lender and any other Bonower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instruinent or the Note without that Bonower's consent. 13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Bonower designates by notice to Lender. Any notice to Lender shall be given by first cla.ss mail 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 Bonower 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 jurisdiction in which the Properly 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 this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of tlus Security Instrument and the Note are declared to be severable. 15. Borrower's Copy. Bonower shall be given one conformed copy of the Note and of this Security Instrument. 16. Hazardous Substances. Bonower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Properiy 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 are generally recognized to be appropriate to normal residential uses and to maintenance of the Property. Bonower 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 wluch Bonower has actual knowledge. If Bonower learns, or is notified by any govemmental or regulatory authority, that any removal or other remediation of any Hazardous Substances affecting the Property is necessary, Bonower shall promptly take all necessary remedial actions in accordance with Environmental Law. As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or to�cic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in tkus paragraph 16, "Environmental Law" means federal laws and laws of the jurisdicrion where the Properiy is located that relate to health, safety or environmental protection. NON COV011ANTS. Bonower 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 directs each tenant of the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Bonower' s breach of any covenant or agreement in the Security Instrument, Borrower shall collect and FHA NEBRASKA D� OF TRUST - MERS DocMeg/c � NEDOTZ.FHA 11/01/08 Page4 of 7 www.docmagic.com J N�- IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII � � V