201107731 - Laserfiche WebLink

Browse

201107731 Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This assignment of rents of the Property shall terminate when the debt secured by this Security Instrument is paid in full. 20. Foreclosure Procedure. If Lender requires immediate payment in full under Paragraph 9, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be 'entitled to collect all expenses incurred in pursuing the remedies provided in this Paragraph 20, including, 6ut not limited to, reasonable attorneys'fees and costs of title evidence. If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of the Property is located and shall mail copies of such notice in the manner prescri6ed by Applicable Law to Borrower and to the other persons prescribed by Applicable Law. After the time required by Applicable Law, Trustee shall give public notice of sale to the persons and in the manner prescribed by Applicable Law. Trustee, without demand on Borrower, shall sell the Property at public aucfion to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at any sale. lJpon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all costs and expenses of exercising the power of sale, � and the sale, including the payment of the Trustee's fees actually incurred and reasonable attorneys' fees as permitted 6y Applicable Law; (b) to all sums secured by this Security Instrument;�and (c) any excess to the person or persons legally entitled to it. 21. Lien Priority. The full amount secured by this Security Instrument shall have lien priority subordinate only to the full amount secured by the First Security Instrument. 22. Adjustable Rate Feature. Under the Note, the initial stated interest rate of 2.489% which accrues on the principal balance ("Initial Interest Rate") is subject to change, as described below. When the interest rate changes, the new adjusted fnterest rate will be applied to the total outstanding principal balance. Each adjustment to the interest rate will be based upon the inter6ank offered rates for one month U.S. dollar-denominated deposits in the London market ("LIBOR"), as published on the first 6usiness day of each week in the "Money Rates" section of The Wa!!Sfreet Journal("Index") plus a margin. If the Index is no longer availa6le, Lender will use as a new Index any Index prescribed by the Secretary. Lender will give Borrower notice of the new Index. Lender will perform the calculations described below to determine the new adjusted interest rate. The interest rate may change on the first day of January, 2012, and on [ ] that day of each succeeding year[X] the first day of each succeeding month ("Change Date") until the loan is p�a�id�in i[i> IIIII IIIII IIII II IIIIIIIIIIII 3000025464GEN303J Finale Document Services� 0279(07/07) � (8 of 10) Nebraska Secontl Deetl of Tmst-HECM AOJUSTAeLE RATE