201105067 - Laserfiche WebLink

Browse

20�105067 Borrower and Lender oth$rwise agree in writing or unless Applicable Law otherwise provides, the proceeds shall be applied to the su�s secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, ar if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Banower fails to respond to Lender within the minuntun number of days established by Applicable Law 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 paytnents. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the tune for paynaent or mod�cation of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be requared 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 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 Contract ("Accommodation Signer"): (a) is co-signing this Security Tnstrument only to mortgage, grant and convey that AccoYrunodation Signer's interest in the Property under the terms of the Security Instrumeut; (b) is not personally obligated to pay the sums secured by tlus Security Insmament; and (c) agrees that Lender and any other Borrower xnay agree to extend, modify, forbear or make any accommodations with regard to the terms of tlus 5ecurity Instrument or the Contract without that Accommodation Signer's consent. Loan Charges. If the loan secured by this Security Insirunient is subject to a law wluch sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges colleated 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 pernutted limits and (b) any sums already 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 Contract. Notices. Any notice to Borrower provided for in tUis 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 norice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any norice to Lender shall be given by first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. 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. Governing Law; Severability. This Security Instrument shall be governed by federal law and the laws of the state of Nebraska. In the event that any provision or clause of this Security Instrument or tbe Contract conflicts with Applicable Law, such conflict shall not affect other provisions of this 5ecurity Instrument or the Contract which can be given effect without the conflicting provision. To this end the provisions of this Securiiy Insn ument and the Contract are declared to be severable. Borrower's Copy. Bonower shall be given one conformed copy of this Security Instrument. Transfer of the Property or a Beneficial Interest �n 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 aud Borrower is not a natural person) without Lettder's prior wrilten consent, Lender may, at its option, require ixumediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of tlus Security Instrument. If Lender exercises this option, Lender shall give Bonower notice of acceleration. The norice shall provide a period of not less than the minimum number of days established by Applicable Law fram the date the natice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any r�madies permitted by this Security Instrument without further notice or demand on Borrower. Borrower's Right. to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of tbis Security Instrurnent discotttinued at any tisne prior to the earlier of: (a) 3 days (or such other period as Applicable Iaw may specify for reinstatement) before sale of the Property pursu�nt to any power of sale contained in this Security Instrument; or (b} entry of a judgment enforcing this Security Instxument. Those conditions are that Borrower: (a) pays Lender all surns which then would be due under this 5ecurity Instrument and the Contract as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees to the extent permitted by law; and (d) takes such action as Lender may reasonably require to asstue that the lien of tlus Security Instiument, Lender's rights in the Property and Borrower's obligarion to pay the swns secured � 2004-2010 Compliance Sys[ema, Ittc. EEOB-D280 - 2010.03378 Consumer Real Eatate - Security Iastrnment DL2036 Page 3 of5 www.compliancesys[ems.com