201103367 - Laserfiche WebLink

Browse

""� r tl . �� '� 2 01iO3367 Borrower and Lender otherwise agree in writing or unless Applicable Law otherwise provides, the proceeds shall be applied to the sums secured by this Security Instrunient whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within the minimum number of days established by Applicable I,aw after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the payments due under the Contract or change the amount of such payments. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this 5ecurity Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borro��ver or Borrower's successors in interest. Lender ghall not be. required to commence proceedings agains� any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Insirument by reason of any demand made by the original Borrower or Borrower'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. Successors and Assigns Bound; Joint and Several Liability; Accommodation 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 section titled Transfer of the Property or a Beneficial Interest in Borrower. Borrower's covenants and agreements shall be joint and several. Any person who co-signs this Security Instrument but has no personal liability under the Coniract ("Accommodation 5igner"): (a) is co-signing this Security Instrument only to mortgage, grant and convey that Accommodation Signer's interest in the Property under the terms of the Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instcvment or the Contract without that Accommodation Signer's consent. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limits and (b) any sums akeady collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Contract or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment under the Contrac� I�To�ices. Any norice 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 Borrower designates by notice to Lender. Any notice to I.ender shall be given by first class mail to Lender's address stated herein or any other address I.ender designates by notice to Borrower. 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. Governing Law; Severability. This Security Instrument shall be govemed by federal law and the laws of the state of Nebraska. In the event that any provision or clause of this Security Instrument or the Contract conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Contract which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Contract are declared to be severable. Borrower's Copy. Borrower shall be given one conformed copy of this Security Instrunae7nt. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, L�ender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prolubited by federal law as of the date of this Security Instrument. If Lender exercises this option, Lender sha,ll give Borrower notice of acceleration. The notice shall provide a period of not less than the minixnum number of days established by Applicable Law from tlae date the notice is delivered or mailed witl�in wluch Borrower must pay all sums secured by this Security Itlstrument. Lf Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies pe��itted by thi3 Security Instrument without further notice or dema.nd on Borrower. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower sha11 have the right to have enforcement of ttus Security Insirument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as Applicable Law may specify for reinstatement) before sale of the Properiy ptusuant to any power of sale contained in this 5ecurity Instrument; or (b) eniry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Contract as if no acceleration had occurred; (b) cures atty default of any other covenants or agreements; (c) pays all expenses incurred itt enforcing this Security Instcvment, including, but not limited to, reasonable attomeys' fees to the extent permitted by law; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instnunent, Lender's rights in the Properiy and Borrower's obligation to pay the sums secured � 2004-2010 Compliance System4, Inc. EFAB-417C - 2010.03.378 Cansumer Real Estate - Security InsUVment DLZ036 Page 3 of 5 www.compliancesyatema.com