201107678 - Laserfiche WebLink

Browse

�` �' `� , �Oi10767� Property in which the fair market value of the Property immediately before the taldng is equal to or greater than the amount of the sum,s secured by this Security Insirument immediately before the taking, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediately before the talting, unless Bonower and Lender otherwise agree in writing or unless Applicable Law otherwise provides, the proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Properly 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 da.mages, Borrower fails to respond to Lender within the minimum 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 thett 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 Coniract 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 Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Bonower or Borrower's successors in interest. I,ender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortizatiott 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 Liab4lity; Accommodation 5igners. The covenants and agreements of tlus Security Instrument shall bind and benefit the successors and assig�s of J,euder and Bonower, 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-sigpittg this Security Instrument only to mortgage, grant and convey that Accoxnmodation Signer's interest in the Property under the terms of the Security Instrument; (b) is not personally obligated to pay the sums secured by tlus 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 Instrument 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 sats uiaximum loan charges, and that law is fina.11y interpreted so that the interest or other loan charges coll�cted or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loau charge ah�ll be reduced by the amount necessary to reduce the charge to the permitted limits and (b) any sums already aollected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refuud by reducing the principal owed under the Contract or by making a direct payment to $orrower. If a refu,nd reduces principal, the reduction will be treated as a partial prepayment under the Contract. Notices. Any notice to Borrower provided for in this Security Instrvment shall be givvnn by delivering it or by mailing it by first class mail unless Applicable Law requires use of another method. ThB uotice shall be directed to the Properly Address or any other address Borrower designates by notice to Lender. Any �ptiCe to Lender shall be given by first class mail to Lender's address stated herein or any other address J,sudat' dsaignates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to �ve be�A $iveu to Borrower or Lender when given as provided in this pazagraph. Governing Law; Severability. This Security Instrument shall be governed by fedal'al law aud ths laws of the state of Nebraska. In the event that any provision or clause of this Security Instrwneut or th� Coutract conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instttiu�ient or the Contract w}aich can be given effect without the conflicting provision. To this end the provisions af tbis �ecurity InsttutmeAt and t11e Contract are declared to be severable. Borrower's Copy. Borrower shall be given ane conformed copy of this Security In.ctrument. Transfer of the Property or a Beneficial Interest in Borrower. If all or any paxt �f the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transfarred and 8orrower is not a natural person) without I,ender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Insirument. However, this option shall 11ot bs exercised by Lender if exercise is prohibited by federal law as of the date of this Security Inshument. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The uQtic� sh�ll provide a period of not less than the minimum number of days established by Applicable Law froix� the date tt�e notice is delivered or mailed within which Borrower must pay all sums secured by this SeeuTity Instru�lent. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke ariy iemediea pern�itted by this Security Instrument without further notice or dema.nd on Borrower. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earfier of (a) 5 days (or such other � 2004-2011 Compliance Syatems, Inc. ADCD-3187 - 2010L1.15.461 Cousumer Real Estate - Security Inspvment DL2036 Page 3 of 5 www.compliancesystema.com