Loading...
HomeMy WebLinkAbout20080527N41M PGS .__~ C~__ Doc TAx cK# FEE~O .sQ PD-S.(2.f?SZCK#~~ CHG ACCT #,~_ RF.T FEESS• SnCASH '~ R.O.D. CK# ~6~c~,gge CAP. ~84n( Return. '1'0: '1'ierpne Bank 1235 'N' Street Lincoln, N~ 6850.8 Prepared >3y: 'TierOne Eank 1235 'N' Street Linco7,n, NE 68508 u1:r1r11~~lorlS I~V~I~~V~~Y~IININ~~ ~~uM .~ ~~ / ~.~ S',~ RD. COMP ~ ~ ~"3--=~- COMPARE ~ ~ ~..-----_= CADAS ~-' AO =- [Space AUoee This Line For recording Aata]-•-----•--•- I~EED C~~ TRL7ST ADAMS COUNTY, N~ FILED INST. N0._,~,~ ~ ~ w1 Dat -8-~ Time la: P.m G~ REGISTER OF DEEDS Words used in multiple sections of this ciocturieut are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated ;~ ebruary 0 6 , 2 0 08 together with all Riders to this document. (B) "Borrower" is SETH A REXILTt7S ~1NU 12FJIANI3UN F2E}CIT,I[7S, Ht7SF3ANT7 ANll liJT1:'h;, JOINTLY AN1J EACH IN TTiEST2 pWN EtYCaH'.C Borrower is the trustor under this Security Instrument. plloz7azse __. IVEl3kA5KA - Sinc~lo Family -Fannie NlaelFraddia N]ac UIVIF:t7RM IIVS7'fiIJIVIEN7 Force 3028 '1101 - -6(tVEI lonor).a2 Gs~ _ Page 1 of 1v Initials: •.....~ ---r--.. t_ -``~ VMP Mortgage Solutions, Inc. !~ 1~ 2008052'7 (C) "i.c~nder" is Tierbne Dank Lender is a Sawi.ngs 73ank organized and existing under the laws oi' tmTIT~D STATES of AM~RxC.A. Lender's address is 1235 N STREET L2NC07aT3 NlE fi85t78- Lender is tlce beneficiary under this Security Instrument. (ll) "Trustee" iS tl, S'. F3ANIC TRUST COML»ANX, Nati.onaY 1~.ssoniation (]~:) "Note" means the promissory note signed by I3orrgwer and dated 11'ebruary 66, 2008 . i'he Note states that 1orrower owes Tender E1GHTy OI~TE xFioUS.A,ND 1JIGIiT HiJNbk2E~ AIJA OO J100 Doilars ('U.S. $ Sx, 800.00 )plus interest. Borrowei has promised to pay this debC in regular Periodic Payments and to pay the debt in.full not later than Ma~ah. 1, 2038 ()H~ "Property" means the property that is described below under the heading "Transfer pf Rights in the Proporty." (G) "i,oan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. (i;7 ".Riders" means all Riders to this Security lnsirurnent that are executed by Borrower. 'lfie following Riders are to be executed by Borrower [check box as applicableJ: Adjustable Rate Rider (.~ Condaminium Rider (~ Second Home Rider n Balloon Rider L-.~ Planned Unit Development Rider (~ 1-4 Family Rider [.-] •VA Rider n Biweekly Payment Rider [~ ether(s) {specify] rrx~A FoRrz ~-~ (i) '"Applicable i,aw" means all controIl.ing applicable federal, state anal local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (.i) "Comanunity Associatlnn Ducs, Pees, ay;d Assc~ssmeuts" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization, (K) "Electronic )!'unds Trausf.'er" means any .transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which. is initiated tllrpugh an electronic terminal, Telephonic instrument, computer, or magnetic tape so as to ordex, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but %s not 1vmited to, point-of-sale Transfers, automated tellex machine transactions, transfers initiated by telephane, ,wire transfers, and automated clearinghouse transfers. (L) "Escrow sterns" means those items that are described in Section 3. (1V1) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5 j for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (N) "Mortgage insurance" means insurance, protecting Lender against the nonpayment of, or default on, the Loan. Pape 2 of 15 Initials: U11U2'78268 Form 3028 7101 ~~~~ (O) "Periodic Paymertt" riieans the regular]y scheduled amormt due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (P) "It1GSPA" means the Rea! Estate Settlement Procedures Ac;t (i2 U.S.C. Sectivn 2601. et seq.) acrd its implemetrting regulation, Regulation ~C {24 C.F.R. Part 35U0), as they might be amended. from time to tixne, ar any additional or successor legislation or reguladon that governs the same subject matter. As used in this.Security Instrument, "RESPA" refers to all requirements and. restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related nrortgage loan" under RESPA.. (Q) "Successor in. Interest al.' Borrower" means any party that has taken title to the Property, wlretlrer o.r not that party has assumed Borrower's obligations uird~r the Note and/or this Security Instrument. TRANSFER O.F RIGHTS iN THE PROPERTY This Security lnst;ument secures tb Lender: (i) the repayment of the Loan; and all renewals, exteu.sians and modifications o.f the Note; and {ii) the perforrrxance of Borrower's covenants and agreements under this Security Instrument and the Note. For this .purpose, Borrower .irrevocably grants and conveys to Tn(stee, in trust; with power of sale, the following described. ~rroperty located in .the County of ~,AAMS [Type of lecording jurisdiction] 1Nama of Recording 7urisdictionl LOT 3 IN M. W~LZ,TAMS SUHI)SVIS~ON AF BI,t7CK 11 AF LEW'x3 SL7l~DIV2$7AN .AE" TH]a NORTHEAST QUA12T]JR OE' THE SOUTHEAST QUARTER qF SEGTrAN 11, TAWNSHxP 7 NARTH, RANGE 10 WiaST O):' THE 5TH P,M, , IN THfE CxT'Y At:' HASTINGS, ADAMS COUNTY, NEJ3RASKi•1 Marcel lIll Number: 284-6716 which currently has the address of 1711 1^1 5TH S~' [Jtreat] Hastings (City), Nebraska 68901 ['I,;p Coda) ("Property Address"): T'OGhI'IIER WT1'1-1 all the unprvverirents now or hereafter erected on. the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Txtstrument. All of the foregoing is referred to in this Security lrtstrl:tment as the "Prolieity." I3OIL12pWER COVENANTS that lorrower is lawfully seised of the estate hereby conveyed and has the riglrt to grant gird convey the Property and that the Property is unencumbered, except t'or encumbrances of..record. _T3orrowex.warraxtts.and..will .defend.generally_the title to the 1?raperty..against_all. claims.-aud- demands, subject to an.y encumbrances of record. -6(~IEI (Oh07).02 Page 3 of t 6 Initials: ~~~a~ a11az7azsa porm 3p2g 1/01 3~ ~~ 2QU8052'~ THIS SECURITY INSTRUIVIENI' combines uniform covenants for national use and non-uniform covenants with limited variations. by jurisdiction to constitute a uniform seGUrity instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: X. Paynrertt of. Principal, Interest, T;scrow Items, Prepayment Cltarges, and Date Charges. Borrower shall pay when due the principal. of, and 'interest on, the debt evidenced by the Note and any prepayment charges and late charges due'under the Note. Borrower shall also pay funds for Escrow Hems pursuant to Section 3. Payments due .und.er the Note and this Security Instrument shall be made in J.S. currency. However, if any check or other. instrument received by Lender as payment under the Note or this Security Instrument is returned to lender unpaid, Lender, may require that any or alt subsequent payments due under the Nate and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order, {c) certified check, barilc check, treasurer's check or cashier's check,. provided any such check is. drawn upon, an .institution ruhose deposits aretnsured. by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 1S. Lender may return any payment or partial payment if the payment or partial payments are insufficient to .bring the lotus. current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refiise such payment or partial payments in the future, but lender is not obligated to apply such payments at the tirrie such payments are accepted. If each Periodic Payment is applied as of its- scheduled due date, then Lender need not pay interest ot~z unapplied funds. bender may .hold such unapplied funds until 'Borrower makes payments to bring the Loan cuxtent. If Borrower does not do so within a reasonable period of. time, l.encier shall either apply such funds or return them to Borrower. I.1' not applied. earlier, such :funds will be applied to the outstanding. principal i~alance under the Note immediately prior to foreclosure. No offset or claim. which Bon•ower might have now ar in the, iirture against Lender. shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants a~ul agree-nents secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall. be applied in the following order of priority: (a) interest due under the Note; jb) principal due under the Note; (c) amounts due under Section 3, Such payments shall be applied to each .Periodic Payment in the -order .in whiclx it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security .Cnstrument, and then to induce the principal`balance of the Note. If Lender receives a payment from Harower for a delinquent Periodic Payment which includes a sufficient amount to pay tuiy late charge due, tits payrrient may he applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, bender may apply any payment received from Borrower to the repaymeirt of the Periodic Payments ii', and to the extent that, each payment can he paid in full. To the extent that any excess exists after the payment is app]ied to the full payment of one or more Periodic Payments,. such excess may be applied to any late charges due. Voluntary prepayments shall be applied first Yo any prepayment charges and then as described in the Note. Any apliJieation of payments, insurtuice proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Tunds for Escrow Items. Harrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to pirovide for payment of amounts due .for; (a) taxes and assessments and other items which;cau attain priority over this Security Instrument as a lien..or encumbrance_o~a..the F'ropexty; (b).leasehold-payrnents.or ground-rents.on-the-Property, if any; -(c)- premiwus for any an<i all insurance required by Lender under Section 5; and (d) Mortgage Insurance ~ oi~.oz~reas~ I nicials:.~L~i~!r' -6(NE) Ioao7).o2 hose a or is Form 302$ 1101 O `~- °~ ~(p 2008052'7 premiums, if any, or any sums payable by Borrower to Lender in lieu 6f the payment of Mortgage Insnxance premiwns in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any tirrre during the term of the-Loan, Lender may require that Community Association Dues, Fees, and Assessrnerits, if any, be escrowed by Borrower, and such dues, .fees and assessments shall be an F,scrow Item. Borrower shall promptly furnish to.bender all notices of amounts to be, paid under this Section. 13orxower shall pay Lender the Funds for Escrow Items unless 1~ender waives Borrower's obligation to pay the Funds for any .or, ail Escrow Items. Lender may waive Borrower's obligation to pay to bender Funds for. any or all Escrow Items at any time. Any such .waiver may only be in writing. In the event of such waiver, Harrower shall pay directly, when and where payable, the amounts due for any Escrow Items i'ur which payment of bonds has been waived by Lender and, if Lender requires, shall furtush to bender receipts evidencing such payment within such finis period as Lender may require. l3orro~ver's obligation to make. such payments. and to provide receipts shall. for all purposes be deemed to be. a covenant, itnd. agreement, contained.. in this Security Instrument, as the phrase "covenant .and agreement" is used in Section y. Ii' Borrower is obligated, to. pay Fscrdw Items directly; .pursuant to a waiver, and Borrow, er fails to 'pay the, amount due, for ari Escrow Itertt, Lender may exercise its xights under Section 9 and pay such amount and T3oirower,shall then be obligated under Section 4 to repay to Lender any such amount. Lender may revoke the waiver as to'auy or all >rcrow Items at any time by a notice given in accordance with Section 1S and, upon such revocation, Borrowex shall pay to Lender all Fiords, and in such amounts, that are then required.under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit I:snder to apply the Funds at the tune specified. under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of iirture Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender; if Lender is an institution whose deposits are sci insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge .Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borxowex interest on fhe Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is-made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be requixed to pay Borrower any interest ox earnings on the Funds. Borrower anal bender can agree in writing, however, that interest shall be paid on the Funds. Lender shall. give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower 1'or the excess funds in acwrdance with RESPA. Ii' there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Le~idex the amount necessary to make up. she shortage in accordance with RESPA, but in no more than 12 montlxly payments. If there is a deficiency of Funds Held iii escrow, as defined under R1:SPA, Lender shall notify Borrower as required: by R~SpA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more tYran 12 monthly payments. Upon payment in full of all sums, secured by this Security Instrument, Lender shall promptly refund to Borrowcr any Funds held by bender. 4. CIulrrges; Liens. Borrower shall pay all taxes, assessments, charges, i'ines, and impositions attributable to the Property which tau attain priority over this Security Instrument, leasehold payments or gxound rents on the Property, if any, and Comtxruuity Association Dues, Fees, and Assessments, if any, To the.extent that..these-iterus are Escrow .Items,_Borrower. shall-pay-them.in.the-manner provided in-Section 3-. dip- oxxoz•rezss -61NE1 ~oaon.oz Papo 5 of 15 Form 3026 1!0'I Joz ~~ 24Q8052'7 Borrower shall promptly discharge any lien which has priority aver this Security Tnstnrment unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner. acceptable to Lender, but only so long as $orrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings axe pending, but only until such proceedings are concluded; or (c) secures i'rom the holder of the Lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that atty part of th.e Propexty is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within .10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay none-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5, Property Insurance. Borrower shall keep the improvements now .existing or hereafter erected on the Property insured against loss by faire, hazardz included within,the terra "ex.terided coverage," and. any other ha-rards including, but not limited to, .earthquakes and floods, fai• which bender requires insurance. 'T'his insurance shall be maintained in the amounts (including deductible levels) ?lid for the periods that Lender requires. What Lender requires pursuant tv the preceding sentences colt change. during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower .subject. to Lender's right to cfisappr~ve Borrower's choice, which right .shall not be exercised unreasonably,. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone detc;nnination, certification and tracking services; or (b) ,a one-time charge fox- flood none determination and certification services and subsequent charges each time remappings or similar chaxtges occur which reasonably might affect such delerntination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Iarnergency Management Agency in connection with the review of any flood zone.determination resulting from an objection by Borrower. If Borrower fails xo maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense:, Tender is under no obligation to purchase any- particular type or amount of coverage. Therefore, such coverage shall cover bender, but might or might not protect 1orrower, Borrower's equity in the Property, ox the contents of the Property, against: any risk, hazard or liability and might provide greater or lesser coverage than was previously i:u effect. 1orrower acknowledges that the cost of the insurance coverage so obtained might significantly e seed the cost of insurance that Borrower could :have obtained. Any amounts disbursed by Lennder under this Section S shall become additional debt of Borrower secured by this Security Instrument. 'T'hese amounts shall bear interest at the Note rate froth the date of disbursement. and, shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to I..ender's right to disapprove such policies, shall include a standard mortgage clause, and shall uanie Lender as mortgagee and/or as an additional loss payee. Lender shall have-the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, nqt otherwise required by bender, far damage to; or destruction of, the Property, such policy shall include a standard mortgage clause and shall. haute bender as mortgagee and/or as an additional loss payee. Tn the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender.:[.ender may make proof of loss if not made promptly by Borrower. Unless. Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance Was required by Lender, shall be applied to restoration or repair of the Property, if tlte~restoration or repair is economically feasible and Lender's secur.ity_is.noC..lessened....During.such.repair acid-restoration..period, Lender-shall-have the.right-to- - hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the 0110278268 !-6tNEl io~o~~.oz Paga 6 of 15 Form 302$ 1101 6~,f6 2008052'7 work has been completed' to Lender's satisfaction, provided that such inspection shall be undertaken promptly, Le>xder may disburse proceeds for the repairs and restoration in a single payment or in a serifs of progxi;ss payments as the work is completed. Unless att agreement is made in writing or Applicable Law requires interest to be paid ors such insurance proceeds, Lender shall not be required to pay Borrowex any interest 'or earnings on such proceeds. Fees 'for public, adjusters, or other third parties, retained by Borrower shall not be paid. out of the insurattee proceeds 'and shall be the sale obligation oP Borxower. If the restoration or repair is not economically feasible or Lendcr's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such iirsuxaiice proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may. file, negotiate and settle, arty available insurance claim and jrelaled mattexs, If Borrower does not respond within 3l? days to a notice from Lender fhat the insurance carrier has. offered to settle a claim, then. Lender may negotiate and settle the claim. The 3U-day period will begin when 'the notice is given. In either event, or if Lender acquires the Property under Sectiori 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the. amounts unpaid under the Note br this Security instrument, and (bj any other of Borrower's rights (other than, the right to any refund of unearned premiums paid by Borrower) under alI ,insurance policies covexing the, Propexty, insofar as such rights are. applicable to the coverage of. the Properly. Lender tnay use the insurance proceeds either to repair or restore the Property or t~ pay arno.unfs unpaid under the Note Ur this Security Instrument, whether or not then due. 6. Occupancy, Borrower shall occupy, estavlish, and use the Property as Borrower's principal residence within 60. days .after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal resideric;e for at least one year. after the date of occupancy, unless Lender othex•~vise agrees in ,writing, which wnsent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7,, Preservation, Maintenance Arid Protection of the Property; .inspections. Borrower shall not destroy, damage or impair tkie .Property, allow the, Property tci. deterioxate or commit waste oh the Properly. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order Co prevent the Property from deteriorating.or decreasing in value due to its condition. Unless it is deterniiried pursuant to Section 5 that, repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in conrection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds fox such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payrnents.as the work is completed, If the insurance or condemnation proceeds are riot suffi,ciexiC to repair or restore the Property, Borrowex is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may snake reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Propexty. Lender sJrall give Borrower notice at the time of or prior to such a>7 interior inspection specifying such reasonable cause, 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave anaterially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information} in connection with the Loan. IViatez7al representations include, but are not lin>,ited to, representations concerning Borrower's occupancy of the Property as Boxrower's principal. residence. ~''~{~~_~ 0110278266 Iniduls: - X 1~~~-1 -6(NE) (84071.02 Page 7 of 15 '~'-~- Firm 302$ 1 /01 ~~~~ ~oo$o~~rl 9, Protection of Lender's Interest in tine Property and Rights Under• this Security Insti•unnent. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankru~tcy> probate, for condemnation or forfeiture, for enforcennent of a lien which may attain priority over this Security Instrument or to enforce -laws or regulations), or (c) Borrower liar abandoned the Property; then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest ina the Property and rights under this Security Instrument, including protecting and/or assessing the value of the .Property, and securing and/or repairing the Property. Lender's. actions can include, .but are not limited to:. (a) paying any sums secured by a lien which has priority over tills Security Instrument; (b) appearing in. cqurt; and (c) .paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position .in a bankruptcy proceeding. Securing the Property. includes, but is not limited to, entering the Property to make repairs, change Locks, replace or board up doors and. windows, drain water from pipes, eliminate building. or other. code. violations. or dangerous conditions, and have utilities turned on or off, Although Lender may. take action under this Section 9; Lender does not have to do so and is not under any. duty or obligation to .do sv. It is agreed that Lender incurs no liability for -not taking any or all actions authorizzd under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instnuineut. These amounts shall bear- interest at the Note rate from the date. of disbursement and shall be payable, with such interest,.upon notice from Lender to Borrower requesting payment. If this Security hnstrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the. Property, the. leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. lblortgage Insurance. If Lender required Mortgage InsuFance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any. reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward. the premiums for Mortgage insurance, Borrower shall pay the premiums required to oUtain coverage substantially equivalent to the Mortgage Insurar>ce. previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially. equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the' insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve. in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall snot be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by ann insurer selected by Lender again beconnes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance, If Lender required Mortgage Insurance as a condition of malting the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide anon-refundable loss reserve, until I.,ender's requirement for Mortgage Insurance ends in ac;c:ordartce with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section lU affects Borrower's obligation to pay interest at the rate provided in the Note, Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for. certain losses it may incur if Borrower does not repay the Loau as agreed. Borrower is net a party to the Mortgage Insurance. Mortgage insurers evaluate tlrerr total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions. that are satisfactory to the mortgage insurer and the other party (or panties) to these agreements. 'These agreements may require the mortgage insurer to make payments using any source of funds that the Mortgage insurer may have. available ~(~vti.icla m.ay include fiuicis obtained from Mortgage Insurance premiums). 011027826$ Initials: ~` -~(~~) (04071.02 Paga 0 or i5 Form 3028 111 8 aD~(~ 2008052`7 As a result oP these agreements, Lender, arty purchaser of the Nnte, another insurer, airy reinsuter, any other entity, or any affiliate of any of the foregoing, may. receive (directly or indirectly) amounts that derive from (ox might be characterized as)_a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If .such agreement provides, that an affiliate of Lender takes a share of the irrsurei•'s risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance, " nurther: (a) ,Any such: agreements will not. affect the. amounts that Borrower has agreed to pay for Mortgage Lisnrance, or any otlrec terms of the l;,oan. Such agreements will -not increase the amount Borrower ~cvill owe #'or Mortgage llrast?ranee, and they will not entitle B~rrower.to any refund. (b} Any such agreements will not afi'ect the rights diorrower 1rAS - if any -with respect to the Mortgage Insurance arnder the Homeowners Protection Act of 1998 or mry other Iaw. These rights may include the. right to receive certain disclosures, to request and obtain cancellation of the Mortgage I.nsYirance, to have the D•Iortgage Insuraru~e terminated autorrratiwlly, and/or to receive a refund of ar~y.lViortgage Insurance premiums that.,~vere unearned at the time of such cancellation or termination, 11. ,flssignment.. of MiscellaneoY~s I'rocecds; Forfeiture. A11 Miscellaneous. Proceeds are hereby assigned to apd shall be paid to Lender. If 'the. Property iS damaged,' such Miscellaneous Proceeds shall. be applied to restoration or repair of the Property, if the restoration or repair is economically feasible-and Lender's security is not lESSened. During such repair and restoration perrad, L<;nder shall -have the right to hold such Miscellaneous Proceeds until Lender `has had an opportunity to inspect such Property to ensure the work has been completed .to Lender's satisfaction, provided that such iuisj~ection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of prggress payments as the Work. is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not.be required to pay Borrower any interest ax earnings on such Miscellaneous Proceeds. if [he restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied Co the Burns- secured by this Security Irrstrumenf, whether or not then duo, 'with the excess, if any, paid. to Borrower, Such Miscellaneous Proceeds shall be applied in the.Qrder provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event. of a partial taking, destruction; or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, . of loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured, by this Security Instrument shall be reducf;d by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value diuided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the lair market value of the Property itmediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction,. or loss in value, unless Boxrpvver acid Lender otherwise agree iu writing,. the Miscellaneous Proceeds shall. be applied to the sums secured by this Security Instrument whether or not the sums are then due, If the Property is abandoned by Boxxotvex, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next. sentence) offers to make an award to. settle rr claim for damages, Borrower fails to respond to Lender within 30 days after the date the. notice is given, Lender is authorized to collect. and aplily the Miscellaneous Proceeds either to restoration ox repair of the Property or to the sums see;ured by this Security Instrument, whether or rrgt then due. "Opposing Party" rnzans the third party that owes Borrower Miscellaneous Proceeds or the party agaiust.whoni Borrower has a right of action in regard to: Miscellaneous Proceeds. Borrower shall be rn default if any action or proceeding, whetl~ec civil or criminal, is begun that, in ..... Lender's judgment, -could result in f6i•feifure of'the ~ Property or"other mateiia] impai'rmenf "of Lender's interest in tyre Property or rights under this Security Instrurnerjt. Borrower can cure such a default and, if r~~~~<~~ `t` _ 0],10276.25$ -61N[) coaa;).oz Pegg 9 of 15 Form 302$ 7/b1 ~~f(o 2008052`7 aa;eleration has occurred, reinstate as provided in Section l J, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of. rho Property or other material impairment of Leader's interest in the Property or rtghts under this Security Instrument. 't'he proceeds of any award or claim for damages that are attributable to the impairment of Lender's. interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2, 12. B4rrpwer Not Xdeleased; i~orbear•ance I3y Lender Not a Waiver. Extension of the time for pay.naent or modification of amortization of the sums secured try this Security, Instrument granted, by I..ender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors m Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrvwer or to refuse to extend time for payment ox otherwise modify amortization of the sums secured 17y this Security Instrument by reason of arty demand made by the. original Borrower or ally Successors in Interest of Borrower. Arty forUeara<~ce by I.c;nder in exercising arty right or remedy including, without limitation, .bender's acceptance of payments from third persons; entities or Successors. in Interest.:of Borrowaz or in amounts less. than the amount then due,. shall. not be a waiver of or preclude the exercise of any right or remedy. 13.:Ioint and. Several Liability; Co-signers; Sule;cessors and Assigns )Hound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. Ilowever, arty Borrower who ca-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Sectrrit}> Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the teran of this Security Instrument; (b) is not personally obligated to pay the sums secured. by this Security Instrument; and (c) agrees that bonder and. any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-•signer's consent.. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's. obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument.. Borrower shall not be released from Borrower's obligativns and liability under this. Security Instrument unless Lender agrees to such .release in writing.- 'I'he covenants and agreements of this Security Tnstnrment shall bind (except as. provided in Section 20) and benefit the. successors surd assigns of Lender: X4. Loar- Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Zenc~er's interest in the Property aitd rights under this Security Instrument, including, but not Iimited to, attorneys' .fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such. fee. bender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other lvan charges collected or to be collected in connection. with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment [n Borrower. If a refund .reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Nole). ~B~rrower's acceptance of any such refund made by direct payment Cu Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Tnstrunient must be in writing. Any notice to Borrower in connection with this Security lnstnrment shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless-Borrower-has.designated asubstitute-notice-address-by-notice-to Lender:-Borrower-shall promptly notify Lender of Borrower's change .ot address, If Lender specifies a procedure for reporting Borrower's change. of address, then Borrower shall vnly report a change of address through that specified procedure. - O~.1t72782G8 f~6(NE) loao~l.oz Page 10 of 15 Fenn 3028 1101 m /~~~~ ~vv~o~2~r There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be -given by delivering it or by mailing it by first class r~rail to bender`s address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If -ury notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy .the corresponding requirement under this Security Instniment. 1G, Governing I,aw;, Sevcrability; Rules of Goustnrctlon. 'T'his Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. Ali rights and obligations contained in this Security Instrument are subject .to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by%contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any. provisio~i or clause. of this Security Tiistrurnent or the Note coniYicts with. Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provisign. As -CSed in this. Security Instrument: (a). words of thi; masculine. gender shall mean and include corresponding neuter words or words of the feminine gender; (b) wards in the singular shalt mean and include Che plural and vice versa; and (c) the word "rnay" gives sole discretion without any obligation t4 cake any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note aird of this Security Instrument. 18. Transfer of the Property or. a i3enefic%al interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including; but not limited to, those beneficial interests transferred in a bond for deed, .contract for deed, installment sales contract or escrow agreement,, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person acid a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If bender exercises this option, Lender shall give Borrower notice of acceleration. I'he notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 witlxin which Borrower must pay all. sums secured by this Security Instrument, If Borrower fails to pay these sums prior to the expiration of this period, .Lender may invoke any remedies permitted by this Security Instrument without ilrrther notice or demand on Harrower: 1J. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale. of the Property pursuant to any power of sale contained in this Security Instniment; (b) such otlier period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are thaC Borrower: (a) pays Len.tier all sums which dhen would be due under this Security Instrumeit and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, inch~ding, brit not limited to, reasonable attoxneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the, Property and rights under this Security Instrument; and (d) takes such action as bender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (h) money order; (c) certii'ied check, bank check, treasurer's check or cashier's check, provided .any such check is drawn upon an• institution whose deposits ere-insured by a federgl-agency-instrumentality or-entity; or (d)-I/lectronic bonds Transfer. Upon reinstatement by Borrower, this. Security Instrument and obligations secured hereby 0110278268 Inl:iels: ~~'~~ •61ME) loaozl.oz Novo ii or is Farm 3028 1101 ~r~~~ X008052'7 shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of 1G.nan Services; Notice of Gn°ievanee. The Note or a partial interest in the Note (together with this Security Instrument) can he sold one or more times without prior notice to I3orrower. A sale might result in a change in the entity (known as the "Loan Services") that collects Periodic Payments due-under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, .this Security h~stntment, and Applicable Law. 'There also might be one or more changes ai' Cbe I.,oan Services unrelated to a sale of the Notts. If there is a change of. the Loan Services, Borrower will be given written notice. of the change which will state the name and address of the new Loan Services, the address to which payme~zts should be made and any other information RESPA requires in connection with a notice of. transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Services. other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower .will remain with the- Loan Services or be transferred to a successor Loan Services and a~:e not . assurrted by the hlotc purchaser unless otherwise.pravidt;d by the Note purchaser. 'Neither Borrower uor Lehder may commence, join, or be joined to any .judicial. action {as either an individual litigant or the member of a. class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that-the other party has breached any provision of,. or any duty owed by reason of, this Security Instrument, until such I3orrower or bender has notified the other party (with such notice given iii compliance with the requirements of Section 15) of such alleged breach. and afforded the other party hereto. a reasonable period after the giving of such notice to take corrective- action. If Applicable haw provides a time period which must elapse before certain action ean be taken, that time period will be deemed to be reasonable for' purposes of this paragraph. 'The notice of acceleration and opportunity to cure given to I3orrower pursuant to Section 2z and the notice of acceleration given to Borrower ptrsuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 2U. 2J...t~azardous Substane~. As used in this Section 2.1: (a) "Hazardous Substances" are those substances defined as .toxic or hazardous substances, pollutants, o.r wastes.by Environmental Law and the following substances: gasoline, kerosene, other tlammable or toxic petroleum products, Coxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" rrAeans federal laws and laws of the jurisdiction where the Property is located that relate to health, safety ar environmental protection; (c) "Envirommental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, cantribuCe to, or otherwise trigger an Environmental Cleanup. I3orrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, of threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental. Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property: The preceding . two sentences shall not .apply to the presence, use,. or storage, nn the Property of small quantities of Hazardous Substances that art; generally xecognired t4 be appropriate .to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous sul.~stances in consumer products). Borrower shall promptly give bender written, notice of (a) any investigation, claim, denriand, lawsuit or other action by any governmental or. regulatory agency or private party involving the Property and any Hazardous Substance or Environmental .Law of .which I3orrower has actual knowledge, (b) any Environmental Condition; including but not limited to, any spilling, leaking, discharge, release or threat of release .qf at»~ .Hazardous--Substance,--and -(c} auy- condition--caused -by .the -presence, -use-ar-release--of- a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified ~;~~ OI.1.027825g Inlttsls:. ~L.-\~~ -6tNEl ~0407)A: Papn 12 of 15 form 3028 1101 /~~/~ 2008052 by any govexnmental or regulatory authority, or any private party, that ariy removal or other remediation of any Hazardous Substance affecting We Property is necessary; Borrower shall promptly take all necessary remedial actions in accordance with ~Itvironmental l,aw. Nothing herein shall create any obligation on Lender for an lnvironmental Cleanup. NUN-'UNI~URIvI COVENAN'1'S. Borrower and Lender further covenant and agree as follows: 22. Aceelcrati~n; Iteanedies: Lender shall give notice to Borrower .prior to acceleration following Ilarrower's breach of any covenant or agreement 'in this Security Ynstrurnent (but not prior tG acceleration under Section ;<8 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to care tlrie default; (c) a date, .not less than 30 clays from the date the notice is given to harrower, by which the default must be cured; and (d) that failure to Gtire the default on or be#'ore the date specified iri tl~e notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property; 'The notice shall further n;rform Borrower of the right to reinstate at`tec acceleration and the right to bring a court action to assert the non-existence of a default or any other.del'egse of Iiorriiwer to accelerati.gn and. sale. If the de('ault is not cured ou or before the date specified in the tTOtice, Lender at its optrot;i may regedre immediate payment in full of all sums secured by this Security Instrument without t'urtlier demand and may invoke the power of sale and any other remedic,s permitted by Applicable La~v. Lender shall be entitled to collect all expenses iucurred iaa pursuing the remedies provided iu this Suction 22, including, but not limited to, reasonable attorneys! fees and costs of title evidence. Il' the power of sale is invoked, 1'r>.isteu shall record a notice of default in each county in which any part of the .property is Iacated and shall mail copies of such notice .in the rnaYU;,er .prescribed by Applicable 1,aw to burrower and to the atltcr persons prescribed by Applicable ~.aw. After tl~e time required by Applicable Law; Trustee shall give public notice of Sale to the persons and in the manner prescribed 'by Applicable Law..'I'rustee, withoYlt.demand. on hox'rower, shall sell the Property at public auction to #hc highest bidder at the time. and, place and 'under the.ternxs designated is tlae notice of sale in o~}e ar more parcels and in any order fl rastee detei•rniraes, Trustee may postpone sale of all or any parcel of the Property by public anlaounce~nent at the fame and place of.any'previously scheduled sale. bender or its designee may purchase the Property at any sale. Upon receipt of payment of the price bid, 'Trustee shall deliver to tl~e purchaser Trustee's deed conveyitrg 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 thu.sale in. the follo•rving order: (a) to all costs and expenses of exercising the-power of sale, artd the sale, including the paymeat of the Trustee's fees actually incurred and reasonable attorneys' i'ens as.permit#ed by Applicable .Law; (b) to all. sums secured by this Security Instrument; and (c) any excess to tl;Ie person or persons legally entitled t.o it. 23. Iteconveyance. Upon payment of all sums secured by this Security. Instrument, Lender shall request Trustee tp reconvey the Property sand shall surrender this Security Instrurrient and all -notes evidencing debt secured by this Security Instrument Co Trustee. Trustee shall reconvey the .Property without warranty to the person or persons legally entitled to it, Such person ox persons shall pay any recordation costs. Lender may charge such person or'persons a fee 1°or reconveying the Property, but only if the fee is paid to a third party (such as the 'trustee) far services rendered and the charging of the feu is permitted under Applicable Law. 24. Substitute Trustee. Lender, at its option, tnay from time to time remove Trustee and appoint a successor trustee to any Trustee appointed heruuclder by art instrument regarded ixa the county in which this Security Instrument is recorded. Without conveyance;of the Property, the successor trustee shall succeed to all the title, power'and duties conferred upon. Trustee; herein and Uy Applicable Law. . 25...Regx~est:.for...Notic;~..Borrower.requests.tllat_copies,.af tlte.n~tice.of default. and sale;._beaent_to .. Borrower's address which is the Property Address. 01].02782 68 -6tNE) (oao~~,oz Pnge 73 of 15 irnoAis: ,~ Form 3G28 1 /G9 13~I(P 2U08Q52'7 IIY SIGNING BELOW, Borrower accepts and agzees to the terms and covenants contained in this Security InstrumenC and in any Rider executed by Borrower and recorded with it. Witnesses: SNTTi A TtE3~IT,ICI5 -Borrower RHIANNQN R~fILZIIS -Borrower •- --_-__.~-----•-----_.__.____._-.._...__. (Seal) ~ _ _. (Seal) -Burrower _ -Borrower .. (Seal) _~----.__ (Seal) -]3orrower -Borrower -6irJ~) loao~i.nz _._ (Seal) .~ -borrower __ (Seal) -Borrower o~ioz7az~e rTRA to of i 6 Form 308 1 /01 l~~ 1~ `008052'7 STA'1['E O)i~ NEBRASKA, A.q~,tts (:ounty ss: The foregoing instrument was acknowledged before me this 6th stay of Fiebr~ary 20p8 , by SETH 11 REJ{xS,xUS ANA RHIANI~TON Ri~,XIJxUS M.y Comcnzssion Expires: GENERAL NOTARY -State 0 N ps~ ~.~..__ ~ MICHELLE M. CAUA 2008 NotaYy ublic My Comm, Exp. Aug. 18, oxxoz~a26~ Initials: C='__.J~".~- -811VE1 10~07).0~ Yapc 75 of 15 FOYfY! ~()2~ 11g1 ~5 ~ ~,~ 2008o~2~r 0110278268 FORM E-3 CONVENTIONAL AND USDA RURAL DEVELOPMENT MORTGAGE ADDENDUM The following addenda to the Mortgage shall be incorporated into, and recorded with, the Mortgage. The term "Mortgage" shall be deemed to include "Deed of Trust," if applicable. THIS TAX-EXEMPT FINANCING RIDER is made the date set forth below and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed ("Security Instrument") of the same date given by the undersigned ("Borrower") to secure Borrower's Note ("Note") to TierOne Bank ("Lender") of the same date and covering the property described in the Security Instrument and located at the property and address described as follows: Address: 1711 W 6TH ST Hastings Nebraska 68901 Legal Description: LOT 3 IN M. WILLIAMS SUBDIVISION OF BLOCK 11 OF LEWIS SUBDIVISION OF THE NORTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SECTION 11, TOWNSHIP 7 NORTH, RANGE 10 WEST OF THE 6TH P.M., IN THE CITY OF HASTINGS, ADAMS COUNTY, NEBRASKA In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree to amend Paragraph 18 of the Uniform Mortgage Form, entitled "Transfer of the Property as a Beneficial Interest in Borrower," by adding additional grounds for acceleration as follows: Lender, or such of its successors or assigns as may by separate instrument assume responsibility for assuring compliance by the Borrower with the provisions of this Tax-Exempt Financing Rider, may require immediate payment in full of all sums secured by this Security Instrument if: (a) All or part of the Property is sold or otherwise transferred by Borrower to a purchaser or other transferee: (i) Who cannot reasonably be expected to occupy the property as a principal residence within a reasonable time after the sale or transfer, all as provided in Section 143(c) and (i)(2) of the Internal Revenue Code; or (ii) Who has had a present ownership interest in a principal residence during any part of the three-year period ending on the date of the sale or transfer, all as provided in Section 143(d) and (i)(2) of the Internal Revenue code (except that "100 percent" shall be substituted for "95 percent or more" where the latter appears in Section 143(d)(1); or (iii) At an acquisition cost which is greater than 90 percent of the average area purchase price (greater than 110 percent for Residences in targeted areas), all as provided in Section 143(e) and (i)(2) of the Internal Revenue Code; or (iv) Who has gross family income in excess of the applicable percentage of applicable median family income as provided in Section 143(f) and (i)(2) of the Internal Revenue Code; or (b) Borrower fails to occupy the property described in the Security Instrument without prior written consent of Lender or its successors or assigns described at the beginning of this Tax-Exempt Financing Rider, or (c) Borrower omits or misrepresents a fact that is material with respect to the provisions of Section 143 of the Internal Revenue Code in an application for the loan secured by this Security Instrument. References are to the Internal Revenue Code as amended and in effect on the date of issuance of bonds, the proceeds of which will be used to finance the Security Instrument and are deemed to include the implementing regulations. BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions in this Tax-Exempt Financing Rider. / February 06. 2008 Borrower sETx A XILI Date ~~1(~3~Os~-ww~. '" ~ Februa 06, 2008 ~~~ ~Jtvt ~ ~ ~ ry Borrower Date Non-Purchasing Spouse Date 4827-8093-9776.8 16-25 NIFA MRB/Form E-3 (10!06) NIFAMA2.UFF ~ f ~ ~~