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201103302
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Last modified
5/25/2011 8:47:48 AM
Creation date
5/3/2011 9:26:18 AM
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DEEDS
Inst Number
201103302
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2Q110330� <br />(c) agrees that Lender and atry other Bortower may agree to extend, modify, forbear or make any accommodations with regard to the <br />terms of this Security Instrument or the Note without that Bonower's consent. <br />13. Notices. Any notice to Borrower provided for in this Security Inst�vment shall be given by delivering it or by mailing it by first <br />class mail unless applicable law requires use of another method. The notice sha11 be directed to the Property Address or any other address <br />Bortower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any <br />address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument sha11 be deemed to have been given <br />to Borrower or Lender when given as provided in this paragraph. <br />14. Governing Law; Severability. This Security Instrument sha11 be governed by Federal law and the law of the jurisdiction in <br />wluch the Property is located. In the event that any pmvision or clause of this Security Instrument or the Note conflicts with applicable <br />law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting <br />provision. To ttus end the provisions of this Security Instrument and the Note aze declazed to be severable. <br />15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instnunen� <br />16. Ha�ardous Substances. Borrower sha11 not cause or pernut the presence, use, disposal, storage, or release of any Hazardous <br />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 <br />any Environmental Law The preceding two sentences shall not apply to the presence, use, or storage on the Properiy of sma.11 quantities <br />of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property. <br />Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any governmental <br />or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has <br />actual knowledge. If Bonower learns, or is notified by any governmental or regulatory authority, that any removal or other remediation of <br />any Hazardous Substances affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance <br />with Environmental Law. <br />As used in this paragraph 16, "Hazardous Substances" aze those substances defined as toxic or hazardous substances by <br />Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, to�cic pesticides and <br />herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in ttus paragraph 16, <br />"Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or <br />environmental protection. <br />NON-i1NIFORM COVENANTS. Bonower and Lender further covenant and agree as follows: <br />17. Assignment of Rents. Bortower unconditionally assigns and transfers to Lender a11 the rents and revenues of the Ptoperty. <br />Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the Property to pay the <br />rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Borrower's breach of any covenant or agreement in <br />the Security Instrument, Borrower shall collect and receive a11 rents and revenues of the Property as trustee for the benefit of Lender and <br />Bonower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only. <br />If Lender gives notice of breach to Borrower: (a) all reirts received by Borrower shall be held by Borrower as trustee for benefit of <br />Lender only, to he applied to the sums secured by the Security Instrume�; (b) Lender sha11 be entitled to collect and receive a11 of the <br />rents of the Property; and (c) each tenant of the Property sha11 pay a11 rents due and unpaid to Lender or Lender's agent on Lender's <br />written demand to the tenant <br />Borrower has not executed any prior assignmeirt of the rents and has not and will not perform any act that would prevent Lender from <br />exercising its rights under this paragraph 17. <br />Lender sha11 not be required to enter upon, take control of or maintain the Properiy before or aftet giving notice of breach to <br />Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents sha11 not <br />cure or waive any default or invalidate any other right or remedy of Lender. This assignment of rents of the Property shall terminate when <br />the debt secured by the Security Instrument is paid in full. <br />18. Foreclosure Procedure. If Lender requires immediate payment in fuIl under paragraph 9, Lender may invoke the power <br />of sale and any other remedies permitted by applicable law Lender shall be entitled to collect all ezpenses incurred in pursumg <br />the remedies under this paragraph 18, including, but not limited to, reasonable attorneys' fees and cosls of title evidence. <br />If the power of sale is invoked, 'IYust� shall record a notice of default in each county in wluch any part of the Property is <br />located and shall mail copies of snch notice in the manner prescribed by applicable law to Borrower and to the other persoas <br />prescrib� by applicable Iaw After the time reqnired by applicable law, TYvstee shall give public notice of sale to the persons and <br />in the manner prescribed by applicable law 1Yastee, without demand on Borrower, shaII sell the Property at pnblic aaction to the <br />FHA Nebraska Deed of Trust wlth MERS — 4J96 <br />Page 5 of 7 <br />i�, tr,c. Initlals <br />
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