|
�, � � + � I�
<br />�, �
<br />period as Applicable Law may specify for reinstatement) before sale of the Property pursuant to any power of sale
<br />contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those
<br />conditions are that Bonower: (a) pays Lender all sums which then would be due under this Security Instrument
<br />and the Contract as if no acceleration had occurred; (b) cures any default of any other covenants or agi'eements; (c)
<br />pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys'
<br />fees to the extent permitted by law; and (d) takes such action as Lender may reasonably require to assure that the
<br />lien of this Security Instrument, Lender's rights in the Property and Borrower's obligarion to pay the sums secured
<br />by this Security Instrument shall continue unchanged. Upon reinstatement by Bonower, this Security Instrument
<br />and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this
<br />right to reinstate shall not apply in the case of acceleration under the section titled Transfer oF the Property or a
<br />Beneficial Interest in Borrower.
<br />Hazardous Substances. Bonower shall not cause or permit the presence, use, disposal, storage, or release of any
<br />Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting
<br />the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the
<br />presence, use, or storage on the Property of small quantities of Hazazdous Substances that are generally recognized
<br />to be appropriate to normal residenrial uses and to maintenance of the Property.
<br />Borrower shall promptly give Lender written notice of 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
<br />Environmental Law of which Borrower has actual knowledge. If Bonower learns, or is notified by any
<br />governmental or regulatory authority, that any removal or other remediation of any Hazardous Substance affecting
<br />the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with
<br />Environmental Law.
<br />As used in this paragraph, "Hazardous Substances" are those substances defined as toxic or hazardous substances
<br />by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum
<br />products, tolcic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and
<br />radioactive materials. As used in this paragraph, "Environmental Law" means federal laws and laws of the state of
<br />Nebraska that relate to health, safety or environmental protection.
<br />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 or the Contract under which acceleration
<br />is permitted (but not prior to acceleration under the section titled Transfer of the Property or a Beneficial
<br />Interest in Borrower, unless Applicable Law provides otherwise). The notice shall specify: (a) the default;
<br />(b) the action required to cure the defaWt; (c) a date, not less than the minimum number of days
<br />established by Applicable Law from the date the notice is given to Borrower, by which the default must be
<br />cured; and (d) that failure to cure the default on or before the date specified in the notice may result in
<br />acceleration of the sums secured by this Security Instrument and sale of the Property. To the eztent
<br />permitted by law, the notice shall further inform Borrower of the right to reinstate after acceleration and
<br />the right to bring a court action to assert the non-existence of a default or any other defense of Borrower to
<br />acceleration and sale. If the default is not cured on or before the date spec�ed in the notice, Lender at its
<br />option may require immediate payment in full of all sums secured by this Security Instrument without
<br />further demand and may invoke the power of sale and any other remedies permitted by Applicable Law.
<br />To the extent permitted by law, Lender shall be entitled to collect all expenses incurred in pursuing the
<br />remedies provided in this Section, including, but not limited to, reasonable attorneys' fees and costs oF ritle
<br />evidence.
<br />If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of
<br />the Property is located and shall mail copies of such notice in the manner prescribed by Applicable Law to
<br />Borrower and to the other persons prescribed by Applicable Law. After the time required by Applicable
<br />Law, Trustee shall give public notice of sale to the persons and in the manner prescribed by Applicable
<br />Law. Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder
<br />at the time and place and under the terms designated in the notice of sale in one or more parcels and in any
<br />order Trustee determines. Trustee may postpone sale of all or �ny parcel of the Property by public
<br />announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase
<br />the Property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying
<br />the Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements
<br />made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all costs and
<br />expenses of exercising the power of sale, and the sale, including the payment of the Trustee's fees actually
<br />incurred and reasonable attorneys' fees as permitted by Applicable Law; (b) to all sums secured by this
<br />Security Instrument; and (c) any excess to the person or persons legally entitled to it.
<br />Reconveyance. Upon payment of all sums secured by this Security Instrument and termination of Borrower's right
<br />to obtain further advances under the Contract, Lender shall request Trustee to reconvey the Property and shall
<br />surrender this Security Instrument and all contracts evidencing debt secured by this Security Instrument to Trustee.
<br />Trustee shall reconvey the Property without warranty to the person or persons legally entitled to it. Such person or
<br />persons shall pay any recordation costs. Lender may charge such person or persons a fee for reconveying the
<br />Property, but only if the fee is paid to a third party (such as the Trustee) for services rendered and the charging of
<br />the fee is pernutted under Applicable Law.
<br />OO 2004-201 I Complience Systems, Inc. ADCD-FD99 - 2010L1.15.46I
<br />Consumer Reat Estate - Security Inswmeot DL2036 Pe�e 4 of 5 www.compliavusystems.com
<br />
|