|
����0�49�
<br />If Lender exercises this option, Lender sha11 give Bonower 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 a11 sums
<br />secured by tlus Securiry Instrument. If Borrower fails 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 Borrower.
<br />19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the
<br />right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) �ve days before sale
<br />of the Properiy pursuant to any power of sale contained in this Security Instrument; (b) such other period as Appiicable Law
<br />might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgnnent enforcing this 5ecurity Instrument.
<br />Those conditions are that Bonower: (a) pays Lender a11 sums which then would be due under this Securiry Instrument 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 />incuned in enforcing this Securiry Insttument, including, but not limited to, reasonable attorneys' fees, property inspection and
<br />valuaiion fees, and other fees incurred for the purpose of protecting Lender's interest 'rn the Property and rights under this
<br />Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property
<br />and rights under Wis Security Insttvment, and Borrower's obligation to pay the sums secured by this Security Instrument, shall
<br />continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the
<br />following forms, as selected by Lender: (a) cash; (b) money order; (c) certif'ied 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 />instrumenta.liry or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and
<br />obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall
<br />not apply in the case of acceleration under Section I8.
<br />Z0. 5ale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together
<br />with this Security Instrument) can be sold one or more times without prior notice to Bonower. 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 other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There
<br />also might be one or more cha.nges 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 written notice of the change which will state the na.me 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 />ttansfer 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 Bonower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or
<br />the member of a class) that arises from the other party's actions pursuant to this Securiry Instrument or that alleges that the
<br />other party has breached any provision of, or any dury owed by reason of, this 5ecurity Instrument, until such Borrower or
<br />Lender has not�ed the other parly (with such notice given in compliance with the requirements of 5ection 15) of such alleged
<br />breach and a.fforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If
<br />Applica.ble Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to
<br />be reasonable for purposes of this paragraph. The notice of acceleration and opportuniry to cure given to Borrower pursuant to
<br />Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and
<br />opporlunity to take corrective action provisions of this 5ection 20.
<br />21. Hazardous Substances. As used in this Section 21: (a) "Hazardous 5ubstances" are those substances de�ned as
<br />toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene,
<br />other flammable or tonic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or
<br />formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the
<br />Properly is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response
<br />action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a
<br />condition that can cause, contribute to, or otherwise trigger au Environmental Cleanup.
<br />Borrowec shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or
<br />threaten to release any Hazardous Substances, on or in the Property. Borrower sha11 not do, nor a11ow anyone else to do,
<br />anything affecting the Property (a) that is in violation of any Environmental La.w, (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 Properly. The preceding two sentences shall not apply to the presence, use, or storage on the Property
<br />of small quantities of Hazardous 5ubstances that are generally recognized to be appropriate to normal residential uses and to
<br />ma.intenance of the Properiy (including, but not limited to, hazardous substances in consumer products).
<br />Borrower sha11 prompdy give Lender wriuen 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 />Law of which Bonower has actual knowledge, (b) any Envitonmental Condition, including but not limited to, any spilling,
<br />lea.king, discharge, release or threat of release of any Hazardous Substance, and (c) any condition 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 notified by any
<br />governmental or regulatory authority, or any private pariy, that any removal or other remediation of any Hazardous Substa.nce
<br />affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with
<br />Enviroamental La.w. Nothing herein sha11 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 notice to Borrower prior to acceleration following Borrower's
<br />breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under 5ection 18 unl�
<br />Applicable Law provid� athervnise). The notice shall specify: (a) the default; (b) the action required to cure the default;
<br />(c) a date, not l�s than 30 days from the date the notice is given to Borrower, by wluch the default must be cured; and
<br />(d) that failure to cure the default on or before the date specifled in the notice may result in acceleration of the sums
<br />secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to
<br />re3nstate after acceleration and the right to bring a court action to assert the non-e�stence 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 specified in the notice,
<br />Lender at its option may require immediate payment in full of all sums secured by this 5ecurity Instrument without
<br />further demand and may invoke the power of sale and any other remedies permitted bp Applicable Law. Lender shall be
<br />entitled to collect all ex�pens�s incurred in pursuing the remedies provided in this Section 22, including, but nat limited
<br />to, reasonable attorneys fees and c�ts of Ultle 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 copie.s of such notice in the manner pr�cribed by Applicable Law to Borrower and to
<br />the other persons prescribed 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 AppHcable Law. Trustee, without demand on Borrower,
<br />shall sell the Property at public auction to the }ugh�t bidder at the time and place and under the terms designated in the
<br />notice of sale in one or more parcels and in any order Trustee determines. 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. I,ender 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 applp the proceeds of the sale in the following order: (a) to all c�ts and expenses of exercising the �ower of
<br />sale, and the sale, including the payment of the Trustee's fees actually incurned and reasonable attorneys f� as
<br />permStted by Applicable Law; (b) to all stuns secured by this Security Instrument; and (c) any excess to the person or
<br />persons legally entitled to it.
<br />NEBRASKA—Single Family—FanNe Mae(Freddie Mac UNIFORM INSTRUMENT Form 3028 1/07
<br />Bankere Systems. Inc•. St. Claid, MN Form MD-1-NE B/17f2000 (page 6 of 7 prtges)
<br />
|