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201109275
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Last modified
1/5/2012 9:47:55 AM
Creation date
12/12/2011 8:56:33 AM
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DEEDS
Inst Number
201109275
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201109275 <br />NON-UNIFORM COVENANTS Bortower and Lender fittther covenant and agee as follows: <br />17. Assignme� of Renta Borrower unconditionally assigns and transfers to Lender all the rents and revenues <br />of the Property. Borrower suthorizes Lender or Lender' s agents ta collect the rents and revenues and hereby directs <br />each tenant of the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to <br />Borrower of Bonower's breach of any covenant or agreement in the Security Instrument, Bonower 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 constitutes an absolute assignment and not an assigament for additional seciaity only. <br />If Lender gives notice of breach to Bonower: (a) al] rents received by Bonower shall be held by Borrower as <br />trustee for benefit of Lender only, to be applied to the sums sec�ed by the Security Instrument; (b) Lender shall be <br />entifled to collect and receive all of the rents of the Propetty; and (c) each tenant of the Praperty shall pay all rents <br />due and unpaid w Lender or Lender's ageat on Lender's written demand to the tenant <br />Boaower 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 rights under this paragraph 17. <br />Lender shall not be required to enter upoq take control of or maintain the Property before or after giving notice <br />of breach to Bonower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. <br />Any application of rents shall not cure or waive any default or invalidate any othet right or remedy of Lender. This <br />assignment of renls of che Praperty shall temrinate when the debt se�ured by the Security Inshwnent is paid in full. <br />18. Foreclosare Procedare. If Lender requires immediate payment in full onder paragraph 9, Lender may <br />invoke the power of sale and any other remedies permitted by applieable law. Lender shall be entitled to coDect <br />aIl egpens� incarred in parsoibg the remedie,s provid�l in this garagraph 18, inclnding, bot not limited to, <br />reasonable attorneys' fees $nd costs of tlUe evidence. <br />If tt►e power of sale is invoked, Trust� shall record a notice of default in each connty in which any part of <br />the Property is located and sha11 mail copies of sach nol3ce in the manner prwwcribed by applicable law to <br />Borrower and to the other peraons prescrlbed by applicable law. After the Hme reqnired by applicable law, <br />Trustee, shall give pnblic notice of aale to the persons and in the manner pracrlbed by applicable Iaw. Trastee, <br />withoat demand on Botrower, shall sell the Properiy at publlc anction to Yhe higLest b9dder at the time and <br />place and onder the terms designated in the notice of sale in one or more parcels and in any order Trustee <br />determines. Trastee may postpone sale of all or any parcel of the Property 6y pabHc announcement at the Uime <br />and place of any previoasly schednled sale. Lender or its designee may purchase the Property at any sale. <br />Upon receipt of payment of the price bid, Trustee shall deliver to the parc6aser Trustee's deed conveying <br />the Property. The r�ltals in t6e Trastee`s deed shall be prlma facie evidence of the truti� of the statements <br />made thereffi. Trustce shsll apply the procet{ds of the sale in the following order: (a) to all costs and eapenses <br />of eserciaing the power of sale, and the sale, including the payment of the Trnstee's fees actually incurred and <br />reasonable attorneys' fees as permitted by applicable law; (b) to all sams secured 6y t6is Secnrity Instrament; <br />and (c) any ezeess to the persoo or persons legaDy enUUed to it <br />If the Lender's interest in this Securlty Inshvment is held by the Secretary and t6e Secretary requirea <br />immediate payment in fuIl under paragraph 9, the Secretary may invoke the nonJndicial power of sale provided <br />�tn the Single FamUy Mortgage Foreclosure Act of 1994 ("Act'� (12 U.S.C. 3751 et eea.) by requesUing a <br />foreclosure commissioner des�lgnated under the AM to commence foreclosure and to seD the Properiy as provlded <br />in the Act Nothing in the preceding sentence shall deprlve the Secretary of any rlg6ts ot6erwlse available to <br />a Lender uader this paragraph 18 or applicable law <br />19. Reconveyance. Upon payment of all sums sec�ed by this Security Instrument, Lender shall request Trustee <br />to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt sec�aed by this <br />Security Inat�vcnent to Trustee. Tzustee shall reconvey tl�e Properly without warranty to the person or persons legally <br />en6tled to it. Such person or persons shall pay any recordation costs. Lender may charge such person or persons a <br />fee for reconveying the Property, but only if the fee is paid to a third party (sucfi as the Trustee) for services rendered <br />and the charging of the fee is pernuued under applicable law. <br />20. SubsHtate Trustee. Lender, ac its option, may from time to time remove Trustee and appoint a successor <br />trustee to any Trustee appointed hereunder by an instrument recorded in fhe county in which tiris Security InsKrument <br />is recorded. WithouY cottveyance of the Property, the successor trustee shall succeed to all the ritle, power and duties <br />conferred upon Trustee herein and by applicable law. <br />21. Reqaest for Nottces. Borrower requests tFiat copies of the notice of default and sale be sent to Borrower's <br />address wirich is the Property addr�s. <br />Z2. Ridera to this Securlty Instrument If o� or more riders are executed by Bonower and recorded together <br />with this Security Instrument, the covenants of each such rider shail be incorporabed into and shall amend aad <br />supplement ihe covenants and agreements of tUis Security Instrument as if the rider(s) were a part of this Security <br />Instrument, <br />[Ch�k applicable box(�)] <br />[� Condominium Rider � C.raduated Payment Rider [J Crrowing Equity Rider <br />� Planned Unit Development Rider � Adjustable Rate Rider [] Rehabilitation Loan Rider <br />❑ Non-Ownet Occupancy Rider � Other LSPe�ifYl <br />FHA N�RASKA D� OF TRUS'f - MERS ���� <br />NmOTZ.FHA OS/23/11 Page 5 of 7 tyww.d�nagk.mm <br />u �� � �:� , ��;�, r`I;�;�, , �1 ` r + �i <br />I ����' � jt ,�i � � ^ � �, � +� ,1 {�, �� �n �,�y,�, ,,�� ,, <br />d <br />
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