|
20110361�
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of
<br />not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums
<br />secured by this Security Instrument. If Bonower fa.ils to pay these sums prior to the expiration of this period, Lender may
<br />invoke any remedies permitted by this Security Instrument without further notice or demand on Bonowec.
<br />19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the
<br />right to ha�e enforcement of this Securiry Instrument discontinued at any time prior to the earliest of: (a) five days before sale
<br />of the Properiy pursuant to any power of sale contained in this 5ecurity Instrument; (b) such other period as Applicable Law
<br />might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Securiry Instrument.
<br />Those conditions are that Borrower: (a) pays Lender a11 sums which then would be due under this Security Iastrument and the
<br />Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses
<br />incurred in enforcing this Securiry Instrument, including, but not limited to, reasona.ble attorneys' fees, progerly 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 />Securiry Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property
<br />and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, sha(1
<br />continue unchanged. Lender may require that Borrower pay such reinstatement sums and expeases in one or more of the
<br />following forms, as selected by Lender: (a) cash; (b) money order; (c) cert�ed check, bank check, treasurer's check or
<br />cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency,
<br />instrwnentaliry or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Secur►ty Instrument and
<br />obligations sExured hereby sha11 remain fully effective as if no acceleration had occurred. However, this right to reinstate shatl
<br />not apply in the case of acceleration under Section 18.
<br />Z0. Sale of Note; Change of Loan Servicer; Not►ce of Grievance. The Note or a partial interest in the Note (together
<br />with this Securiry Instivment) can be sold one or more times without prior notice to Borrower. A sale might result in a change
<br />in the entiry (known as the "Loan 5ervicer") that collects Periodic Payments due under the Note and this Security Instrument
<br />and performs othet mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There
<br />also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan
<br />Servicer, Borrower will be given wriuen notice of the change which wlll state the name and address of the new Loan Servicer,
<br />the address to which payments should be made and any other information RESPA requires in connection with a notice of
<br />transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the
<br />Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor
<br />Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser.
<br />Neither Borrower nor Lendet may commence, join, or be joined to any judicial action (as either an individuai litigant or
<br />the member of a class) that arises from the other parly's actions pursuant to this Security Instrument or that alleges that the
<br />other pacly has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or
<br />Lender has notified the other pariy (with such notice given in compliance with the requirements of Section 15) of such alleged
<br />breach and afforded the other garty hereto a reasonable period after the �iving of such notice to take conective action. If
<br />Applicable La.w provides a time penod which must elapse before certain achon can be taken, that time period will be deemed to
<br />be reasona.ble for purposes of this paragraph. The notice of acceleratiou and opportunity to cure given to Borrower pursuant to
<br />Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 sha11 be deemed to satisfy the notice and
<br />opportuniry to take corrective action provisions of this Section 20.
<br />21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as
<br />toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene,
<br />other flammable or toxic petroleum products, toxic pestic'rdes and herbicides, volatile solvents, materials contammg asbestos or
<br />formaldehyde, and radioactive materials; (b) "Enviromnental I.aw" means federal laws and laws of the jurisdiction where the
<br />Ptoperly is located that relate to health, safery or environmental protection; (c) "Environmental Cleanup" mcludes any response
<br />action, remedial action, or removal action, as defined in Enviromnental Law; and (d) an "Environmental Condition" means a
<br />condition that can cause, contribute to, or otherwise trigger au Environmental Cleanup.
<br />Bortower shall not cause or permit the presence, use, disposal, stora.ge, or release of any Hazardous Substances, or
<br />threaten to release any Hazardous Substances, on or in the Property. Borrower sha11 not do, nor allow anyone else to do,
<br />anything affecting the Property (a) that is in violaxion of any Environmental Law, (b) which creates an Environmental
<br />Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely
<br />affects the value of the Property. The preceding two sentences sha11 not apply to the presence, use, or storage on the Property
<br />of small quantities of Hazardous Substances that are genecally recognized to be appropriate to normal residential uses and to
<br />maintenance of the Property (including, but not l'united to, hazardous substances in consumer products).
<br />Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by
<br />any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental
<br />La.w of which Botrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling,
<br />leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condrtion caused by the presence, use
<br />or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notif'ied by any
<br />governmental or regulatory authority, or any private parly, that any removal or other remediation of any Hazardous Substance
<br />affecting the Properly �s necessary, Borrower sha11 prompdy take a11 necessary remedial actions in accordance with
<br />Environmental I.aw. Nothing herein shall create any obligation on Lender for an Environmental Cleanup.
<br />NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />22. Acceleration; Remedies. Lender shall give natice to Borrower prior to acceleration following Borrower's
<br />breach of any covenant or agreement in this 5ecurity Instrument (but not prior to acceleration under 5ection 18 unless
<br />Applicable Law provfides otherwise). The notice shali specify: (a) the default; (b) the action required to cure the default;
<br />(c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and
<br />(d) that failure to cure the default on or before the date spec�ff�ied in the notice may result in acceleration of the sums
<br />secured by this 5ecurity Instrument and sale of the Property. The notice shall further inform Borrower of the right to
<br />reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other
<br />defense of Borrower to acceleration and sale. If the default is not cured on or before the date speci6ed in the notice,
<br />I.ender at its option may require immediate payment in full of all sums secured by this Securlty Instrument without
<br />further demrand and may invoke the power of sale and anp other remedies permitted by Applicable Law. Lender shall be
<br />entitled to collect all ex�ens�s incurred in pursuing the remed�� provided in this 5ection 22, including, but not limited
<br />to, reasonable attorneys fees and c�ts of title evidence.
<br />If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of the
<br />Property is located and shall mail copies of such notice in the manner prescribed by Applicable Law to Borrower and to
<br />the other persons pr�scribed by Applicable Law. After the time required by Applicable Law, Trustee shall give public
<br />notice of sale to the persons and in the manner prescribed by Applicable Law. Trustee, withoat demand on Borrower,
<br />shall sell the Property at publ�c auction to the Wghe.st bidder at the time and place and under the terms designated in the
<br />notice of sale in one or more parcels rand in any order Trustee determin�. Trustee may postpone sale of all or any parcel
<br />of the Property by public announcement at the time and place of any previously scheduled sale. Lender or its designee
<br />may purchase the Property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the
<br />Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein.
<br />Trustee shall apply the proceeds of the sale in the following order: (a) to all c�ts and expenses of exercising the power of
<br />sale, and the sale, inclading the payment of the Trustee's fees actually incurred and reasonable attorneys' fees as
<br />permitted by Applicable Law; (b) to all sums secured by tWs 5ecurity Instrument; and (c) any excess to the person or
<br />persons legally entitled to it.
<br />NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />Bankers Systeme, Inc., St. Cloud, MN Form MD-1-NE 8/17/2000 (page 6 of 7pRges)
<br />I . A . , n e �
<br />
|