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201106986
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201106986
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Last modified
10/9/2011 10:52:27 PM
Creation date
9/22/2011 9:17:31 AM
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DEEDS
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201106986
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�o�ios9ss <br />NON-UNIFORM COVENANTS. Borrower and Lender fiuther covenant and agree as follows: <br />17. Asslgnme� of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues <br />of the Property. Borrower authorizes Lender or Lender' s agents to collect the rents and revenues and hereby directs <br />each tenant of the Ptoperty to pay the rents to Lender or I.endet's agents. Howevet, prior to Lender's notice to <br />Borrower of Bonower' s breach of any covenant or agreement in the Security Instrument, Borrower shall collect and <br />receive all rents and revenues of the Property as trustee for the benefit of Lender and Borrower. This assignment of <br />rents consfltutes an absolute assignment and not an assignment for additional security only. <br />If Lender gives notice of breach to Bonower: (a) all rents received by Borrower shall be held by Borrower as <br />trustee for benefit of Lender only, to be applied to the sums secwed by the Sec�mty Instntment; (b) Lender shall be <br />en6tled to collect and receive a11 of the rents of the Property; and (c) each tenant of the Properly shall pay all rents <br />due and tmpaid to Lender or Lender's agent on Lender's written demand to the tenan� <br />Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would <br />prevent Lender from exercising its right� under this pazagraph 17. <br />I,ender shall not be required to enter upon, take control of or maintain the Properiy before or after giving notice <br />of br�ch to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. <br />Any applicalion of rents shall not cure ar waive any default or invalidate any other right or remedy of Lender. This <br />assignment of rents of the Property sha11 terminate when the debt secured by the Security Instrument is paid in full. <br />18. Foredosare Procedare. If Lender reqaires immediate payme� in faIl nnder paragraph 9, Lender may <br />invoke the power of sale and any other remedia permitted by applicable law. Lender ahall be entitled to coIIect <br />all espenses incnrred in pursuing the remedies provided in this paragraph 18, inclnding, b� not Hmited to, <br />reasonable attorneys' fee.v and costs of tltle evidence. <br />If the power of sale is invoked, Trast� ahall record a noflce of defanit �ln each county in which any part of <br />the Property is located and shall mail copies of snch nol3ce in the maoner prescribed by appHcable law to <br />Borrower and to the other persons prescdbed by appflcable law. After the time required by appllcable law, <br />1Yustee, shall give pabHc notice of sale to the persons and in the manner pnscrlbed by applicable law. Trustee, <br />withoat demand on Borrower, shall seD the Properiy at public auctiion to the highest bidder at the f3me and <br />place and nnder the terms designated in the notice of sale in one or more parcels and in any order Trostee <br />determines. Trastee may postpone sate oF all or any parcel of the Property by pnblic annonncement at the �ime <br />and place of any prevlously acheduled sale. Lender or its designee may purchase the Property at any sale. <br />Upon receipt of payment of the price b9d, Trastee shall deliver to the parchaser Trustee's de� conveying <br />the Property. T6e recitals in the Trastee's deed shall be prlma facie evldence of the trath of the statements <br />made therein. 1Yostee shall apply the proceeds of the sale in the following order: (a) to all costs and expenses <br />of eaercL�ing t6e power of sale, and the sale, inclnding the payment of the Tivstee's fees actaaIly incnrred and <br />reasonable attorneys' fee.v as permitted by appHcable law; (b) to all snms secnred by this Secnt3ty Instrument; <br />and (c) any ezcess to the peraon or persons legally entitled to ft. <br />If the Lender's interest in this SecnrHy Instrament is held by the Secretary and the Secretary reqair� <br />immediate payme�rt in fuIl under paragraph 9, the Secretary may ffivoke the nonJndicial power of sale provlded <br />in the Single Family Mortgage Forecloeare Act of 1994 ("AcN� (12 U.S.C. 3751 et �.) by reqaeaHng a <br />foreclosnre commissioner designated under the Act to commence foreclosurc and to seD the Property as provided <br />in the Act Nothing in the preceding sentence shaD deprlve the S�retary of any rights otherwise ava�llable to <br />a Lender nnder this paragraph 18 or applicable law. <br />19. Reconveyance. Upon payment of all sums secwed by this Security Instrument, Lender shall request Trustee <br />to reconvey the Propetty and shall surrender this Security Instrument and a11 notes evidencing debt secured by tUis <br />Security Instrument to Trustee. Trustee shall reconvey the Property without warranty to the person or persons legally <br />entitled to it. Such person or persons sha11 pay any recordation costs. Lender may charge such person or persons a <br />fee for reconveying the Praperiy, but only if the fee is paid to a flvrd party (such as the Trustee) for services rendered <br />and the charging of the fee is permitted under applicable law. <br />20. Snbsdtate Trost�. Lender, at its option, may from time to time remove Trustee and appoint a successor <br />lrustee to any Trustee appointed hereunder by an insh�ent recorded in the county in wlrich this Security Inslavment <br />is recorded Without comeyance of the Property, the successor uvstee shall succeed to all the title, power and duties <br />conferred upon Trustee herein and by applicable law.. <br />21. Reqn�t for Noflces. Borrower requests tUat copies of the notice of default and sale be sent to Borrower' s <br />addresa wlrich is the Property address. <br />Z2. Riders to this Secarlty Instramen� If one or more riders aze executed by Borrower and recorded together <br />with this Security Instrument, the covenants of each such rider shall be incorporated into and shall amend and <br />supplement the covenants and agreements of this Security Instrument as if the ridet(s) were a part of this Secw'ity <br />Instrument. <br />[Check applicable box(es)] <br />� Condominium Rider � Graduated Payment Rider ❑ Crrowing Equity Rider <br />� Plaffied Unit Development Rider � Adjustable Rate Rider � Rehabilitation Loan Rider <br />� Non-Owner Occupancy Rider � Ofher ISPeciFY� <br />FHA N�RASKA D� OF TRUST - MEi.S �eg►c � <br />NEDOTZ.FHA O6/23/11 Pege 5 of 7 www.doanagk.mm <br />�IDI� IU�II� IIO I I � I U a I I IIn11111� 01� <br />
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