|
�„�
<br />20120Q040
<br />when #lae noti�e is given, IA eiRher avent, or if Lender acquires 3he Prog$rty uuder Sedion 22 ar otherwise,
<br />Boizower hereby assigns to Lender (a) 8orrower's rights to any insurax�ce proCeeds ioa an arnonnt not to exceed
<br />ttie amovnts un�d under the Note orthis Securiry Inst�um�t,� and (b) any other ofBorrovaer's rights (otheathan
<br />ti�e rig�t to any refund of uneamed premiums paid by Boaower) under �tl ibswancs policies covering the
<br />, msofar as such rights are applicab'le to the coverage of z�re Property. Y,ender u�►y use the ms�uance
<br />�r�c� either to repaa pr rest�are �thhe Properiy or t4 pay amounts ungaxd under the Note or 'ttsis Security
<br />Inst�um�emt, whether or not then due
<br />6. �ccnpancy. Borrower shall csccuPY, establish, and uss the PropErry as Borrower's principal
<br />nesidence within GO days after the execution of this Sectuity Insbrninent and shalt Fout3nue ta occ�y the Property
<br />as B�or�awer's pri�cigal resideaca f� at least one year a�ex the date of occupaacY, ualess Lender otherwis� agre�ss
<br />in writing, which cons�t shall not be w�asonably w�thheld, orunless extenuatmg c�ctimst�ces exist whteh are
<br />beyoad Borrower's controL
<br />7. P'r�servation, Maintenance and Prote�ion of the Pro�ert3 , Inspe�tions. Borrower shall not
<br />desiroy, e or impair the Property, allow the Property to detenorate or commit waste on El�e Property.
<br />Wiiether or�orrower is residing in the ProPerlY, Borrcwver shall maintain the 1'rapeity in ore�rto preveztt the
<br />Property from deteriorating or decreasiag in value due to its cAndition Unless it is detarmir►ed pwsuaat to
<br />Seclion 5 that repair or re-�toration is not econamically feasble, Borrawer shall promgtly regair the Property if
<br />d�naged to avaid fiuther deterioration or damage. If insura�ce or cendemnatioa pmceeds are gaid in connection
<br />vv�th ciam�age to, or the taku�g o� the F�roperty, Borrower shail be responsi`ble for regairing or r�toT�ing tl�e
<br />Propsrty anly if Leader has released proceeds for sttch ptsposes. Lender may disburse proceeds fa¢� the repairs
<br />and restoration in a singlepa.yment or in a series ofpmgr�ss payments as tt�e work is completed. Ifthe u�suiance.
<br />Ci` condemna�ion proceeds are not suffici�nt to repair or restore the Property, Borrower is not relieved of
<br />Boirower's obligation for the c�z�apletio�} of such re� or restotaticn.
<br />Lender or its ageat may make re8saaable entri�.s upon aad inspec�ions of tha Froperiy, If it has
<br />reasonable cause, L$ndermay mspect the umterior of the utiprovements on tiie Property. Le,nder shall give
<br />Borr�wer notica at the tiine of or pnor to such an interior inspecrion specifyu�g such reasonabla cause.
<br />8. �onrower's Loan Applicattaa.. Borrower sha11 be in default if, during the Loan applir.mion
<br />pr�, Borrowa^ or any persons or ent�hes acbng at the direetion ofBarrower or wii�thh Borrov�er's knowledge or
<br />consent gave m�terially false, rnisieading, or inaccwate information Qr statemerra #o Lender (or failedto provide
<br />Lender with material informarion} in crnmection with the Lo�. Material regreseutations u�clude, but are not
<br />limited to, representations concerning Borrower's oce�cy ofthe Progerty as Borrower's principal residence.
<br />9. Protection af Y.ender's Interest m the Pmp�erty and Rights Underth� Security Instrumtent If
<br />(a} Bozrower fails ta gerform the covenants and ageements contained in this Seauity Tnstrumen� (b) t.�ere is a
<br />legal proceeding that imght si�i#ic�ntly affect Lander's interest in the Progerty ancUar nghu underthis Security
<br />Instrument (snch as aproceeding in tr�mlaup y,gr�bat�, far condemnation or forfeiture, far enforcxment ofa lien
<br />which may attain p�ionty aver this Security [nstrument or to enforce laws or regu�tions), ar �c) Borrower has
<br />abandoned the Pro�+, fhen Lender �y do and pay fo.r whatever is reasonable or apprapriate to protect
<br />Lender's interest in the Property and rights un�ler this SECUrity Insmunent, inclu+dingprotecung and/or assessir�
<br />the valae of the Properl,y, and securmg aud/or iepairingthe Property. Lender's ac6ons can include, but aze not
<br />limited to: (a) paymg auy swns secured by a li�a which has priozity aver tbis Se,curity Instrumen� (b) appearinng
<br />in cour� and {c) paymg ressonable altomeys' fees to protect its mterest in the Property andlor rights under this
<br />Seciaity lnst�umen� mclnding its �ured posmon �n a ban�rugtcy proceeding. 5ecunng the Property inclu�s,
<br />buR is uot limitedto, enteringthe Pr�perty to malce repans, change locks, reglace orbo�d up doors andwmdows,
<br />drain waier from pipes, eIiminate buildiag �r ,�ther code violations or dangerous conditions, and have utilities
<br />turned on ar off. Althou�h Lendermaytake ac�ion underthis Section9, Lender daesnotx►ave to do so and isnot
<br />under any duty or obligation to do so. Tt is agreed that Leade= inc°�us no liability far npt tawng any or all a�tions
<br />authorizsd iumder 13�is 5e�6n y:
<br />Any amounts disbursed by L�►der under this Section 9 s�all become additiqnal debt of Borrower
<br />sectued by this Security Inssrumen� These amounts shall bear iaterest at the Note rate from the dat� of
<br />disbtusement and shall be payable, with such interest, upon notice from Lender to Bozm�a+er reQuesting PaY��
<br />If ttais Security Insit►mient is on a leasehald, Borrower shall comply with all the pravisions of the lease.
<br />If Borrower acq�ires fee tide �to tha PrbFBrtY, the leasehoki and the fee title shaIl not merge unless I:ender agrees
<br />to the merger m writmg.
<br />10. Mortgage Ynsarance. If Lenrkr requirect Mortgage Ynsur�tce as a con�ition af making'ttte
<br />Loa�q, Borrower shall pay tbe premiums reqnur.d to tpaintain �he Mortgage Insutadce in effect. If, fa� any reason,
<br />ti�e 1Vlortgage Insurance coverage requir�d b3+ I,e�der c�ases to be available from the mor�g� insurer i�at
<br />previously pravided sveh ins�tr2�ce and Bottower was reqused to make separatcly desi�ated payments taward
<br />tlte premi�ms fur Mortgage It�sivance, Borroraer �hall paythe premiums ffed to obt�a coverage s�bstantialIy
<br />equivalent tq 1i�e Mortgage InsW�nce previously in eff�t, at a cost �bstantially equiv�e�t to the cost to
<br />Borrower aft6a Mortgage xnsuianca greviously i� effec� frorn an altemate mortgage iasurer selec�ed by Lender.
<br />If su�tially equiva}eat Mortgage Inst�raisce coverage is not a�Vail�ble, Baaower siiall contiaue to pay to
<br />Lenderthe amount ofthe separataly designated �nts thai �vere due wben the insuranc$ eoveiage eeased to be
<br />i� effeet. Lender will accegt, use and retain these paymeatt4 as a non-refundable los$ reserve i� lieu o�Mortgage
<br />Insurance. Such loss resen+e shall be non-refimdable, notwithstand'mg the fact that the Loan is ultimetelypatd�n
<br />full, and Lender shatl not be required to pay Borrower any interest or earnings on such lass reserve. Lender can
<br />no ionger require loss reserva payzn�►ts �f Mortgage Insurance cove�age (in ti�e amount and for the period that
<br />Lznder reqeuresJprovided by arc roswer selected by Lender again becomes available, is obtained, and Lendar
<br />requi�s sepazateiy designaisd pay�nents toward the prertuums for Mortgage I�s�ttance, If Lender required
<br />Morigage Insurance as a condition of malsing the Zoan and Borrower was reyuired to make separately �ignated
<br />payiments toward the premiums for Mortga�e Tnsurarice. Borrower shaIl pay the premiim�s required tfl mamtaia
<br />Mortgage Insur�ca in effe¢t, or td provide � non-refundable loss re.serve, unti[ Lendear's requirement for
<br />Mortgage Ins�tce ends in accordance with an� wtitten agreemxnt beiween Borrc�wer and Lenderproviding for
<br />such termin�tic� or until terrnination is �ed b� Applicable Law. Noth�g in this Section 14 affects
<br />Borrawer's obligation to pay intsrest at the sate provnded in the Not.�.
<br />lYiortgage Insivance rem�burses Lender (or any �tiLy th�: purchases the Note) for cert�.ui lesses it rmy
<br />incxu if Borrower does not repay the Lean a4 a�eed. Borrovver is not a party to tl�e Mortgage lnsurance.
<br />NEBRA3KA Fam�y —Fannie Mae/Freddie Mac UNT�ORM INS1'RUMENl7' (MERS� Form 30281fQ1 (page S ul
<br />12434.CV(9/11) CtL14689 CreatYve Thfnking, Iac.
<br />GOTQ(OQ042ce6) ^
<br />\
<br />� \ �+
<br />\-, a
<br />��
<br />�
<br />�
<br />
|