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20120Q�4�
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or
<br />impair the Properry, a11ow the Properly to deterioraxe or conamit waste on the Property. Whether or not Borrower �s residing in
<br />the Property, Borrower shall mainta.in the Property in order to prevent the Property from deterioraxing or decreasing in value
<br />due to rts condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible,
<br />Borrower sha11 promptly repair the Properly if damaged to avoid further deterioration or dama.ge. If insurance or
<br />condemnation proceeds are paid in connection with dama.ge to, or the taking of, the Property, Bonower shall be responsible for
<br />repairing or restoring the Property only if Lender has released ptoceeds for such purposes. Lender may disburse proceeds for
<br />the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the msuraace or
<br />condemnaiion proceeds are not suff'icient to repair or restore the Property, Borrower is not relieved of Borrower's obligation
<br />for the completion of such repair or restoration.
<br />Lender or its agent ma.y make reasonable entries upon and inspections of the Properiy. If it has reasonable cause,
<br />Lender ma.y inspect the interior of the improvements on the Properly. Lender sha11 give Borrower notice at the time of or prior
<br />to such an interior inspection specifying such reasona.ble cause.
<br />8. Borrower's Loan Application. Borrower shall be in default if, during the Loa,n application process, Borrower or
<br />any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false,
<br />misleading, or ina.ccurate information or staxements to Lender (or failed to provide Lender with material information) in
<br />connection with the Loan. Maxerial representations include, but are not limited to, representaxions concerning Borrower's
<br />occupancy of the Property as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Bonower fails
<br />to perform the covenants and agreements conta.ined in this Securiry Instrument, (b) there �s a legal proceeding thax might
<br />signif'icantly affect Lender's interest in the Pro�erty and/or rights under this Securiry Instrument (such as a ptoceediag m
<br />bankruptcy, probate, for condemnation or forfetture, for enforcement of a liea which ma.y attain prioriry over this Secunty
<br />Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for
<br />whatever is reasona.ble or appropriate to protect Lender's interest in the Property and rights under this Securiry Instrument,
<br />including protecting aad/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions
<br />can include, but are not limited to: (a) paying any sums secured by a lien which has pnonry over this Security Instrument; (b)
<br />appearing in court; and (c) paying reasonable attorneys' fees to protect its interest m the Property aad/or nghts under W�s
<br />Securiry Instrument, including its secured position in a bankruptcy proceeding. Securing the Pro�erty includes, but is not
<br />limited to, entering the Property to ma.ke repairs, cha.nge locks, replace or board up doors and wmdows, draia water from
<br />pipes, eliminate building or other code violations or da.ngerous conditions, and have utilities tumed on or off. Although Lender
<br />may ta.ke action under this Section 9, Lender does not have to do so and is not under any dury or obligation to do so. It is
<br />agreed thax Lender incurs no liabiliry for not taking any or all actions authorized under this Section 9.
<br />Any amounts disbursed by Lender under this Section 9 sha11 become additional debt of Borrower secured by this
<br />Security Instrument. These amounts shall bear interest at the Note raxe from the date of disbursement and sha11 be payable, with
<br />such interest, upon notice from Lender to Borrower requesting payment.
<br />If this Security Instrutnent is on a leasehold, Bonower shall comply with all the provisions of the lease. If Bonower
<br />acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Bonower shall
<br />pay the premiums required to mainta.in the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage
<br />required by Lender ceases to be available from the mortgage insurer that previously provided such insuraace and Bortower was
<br />required to make separately designa.ted payments toward the premiums for Mortgage Insurance, Borrower shall pay the
<br />premiums required to obta.in coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost
<br />substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage
<br />insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Bonower sha11 continue to
<br />pay to Lender the amount of the separately designa.ted payments that were due when the insurance coverage ceased to be in
<br />effect. Lender will accept, use and retain these payments as a non refunda.ble loss reserve in lieu of Mortgage Iasurance. Such
<br />loss reserve sha11 be non refundable, notwithsta.nding the fact that the Loan is ultimately paid in full, and Lender shall not be
<br />required to pay Borrower any interest or earnings on such loss reserve. Lender can no Loager require loss reserve payments if
<br />Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender
<br />again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for MoRgage
<br />Insurance. If Lender required Mortgage Insurance as a condition of ma.kmg the Loan and Bonower was required to ma.ke
<br />sepa.rately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to
<br />maintain Mortgage Insurance in effect, or to provide a non refunda.ble loss reserve, until Lender's requ�rement for Mortgage
<br />Insurance ends in accordance with any written agreement between Bonower and Lender providiag for such termination or until
<br />termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate
<br />provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entiry thax purchases the Note) for certa.in losses it ma.y incur if
<br />Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on a11 such insurance in force from time to time, and may enter into
<br />agreements with other paRies that share or modify their risk, or reduce losses. These agreements are on terms and conditions
<br />tha.t are satisfactory to the moRgage insurer and the other parcy (or parties) to these agreements. These agreements may require
<br />the mortgage insurer to ma.ke payments using any source of funds thax the mortgage insurer may have available (which may
<br />include funds obtained from Mortgage Insurance premiums).
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or
<br />any aff'iliate of any of the foregoing, ma.y receive (directly or indirectly) amounts that derive from (or might be charactet�zed
<br />as) a portion of Borrower's payments for Mortgage Insurance, in excha.nge for sharing or modifying the mortgage insurer's
<br />risk, or reducing losses. If such agreement provides that an aff'ilia.te ,of Lender ta.kes a share of insurer's risk in exchange for a
<br />share of the premiums paid to the insurer, the a.rrangement is often termed "captive reinsurance." Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or
<br />any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance,
<br />and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has--if any--with respect to the Mortgage Lisurance
<br />under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain
<br />disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated
<br />automatically, and/or to receive a refund of any Mortgage Tnsurance premiums that were unearned at the time of such
<br />cancellation or tertnination.
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall
<br />be paid to Lender.
<br />If the Property is dama.ged, such Miscellaneous Proceeds sha11 be applied to restoration or repair of the Property, if the
<br />restoration or repair is economica(ly feasible and Lender's securiry is not lessened. During such repair and restoraxion period,
<br />Lender sha11 ha.ve the right to hold such Miscellaneous Proceeds unt�l Lender has had an opportuniry to inspect such PropeRy
<br />to ensure the work has been completed to Lender's satisfaction, provided that such inspection sha11 be undertaken promptly.
<br />Lender ma.y pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work �s
<br />completed. Unless an agreement is made in writing or Applicable La.w requires interest to be paid on such Miscellaneous
<br />Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the
<br />restoration or repair is not economically feasible or Lender's securiry would be lessened, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Securiry Instrument, whether or not then due, with the excess, if any, paid to Bonower.
<br />Such Miscellaneous Proceeds sha11 be applied in the order provided for in Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied
<br />to the sums secured by this Securiry Instrument, whether or not then due, with the excess, if any, paid to Borrower.
<br />NEBRASKA—Single Family—Fannte Mae/Freddie Mac UNIFORM INSTRUMENT F 3028 1l01
<br />Bankers Systems, Inc., St. Cloud, MN Form MD-1-NE 8/17/2000 �ge 9 �.f ��8�� ��
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