201201751 - Laserfiche WebLink

Browse

, 201201751 Instrument(such as a proceeding in bankruptcy, probate, for wndemnation or forfeiture, for enforcement of a lien which may atuin priority over this Securiry Ins[rument or to enforce laws or regulations), or (c) Borrower has abandoned the Property,then Lender may do and pay for whatever is reasonable or appropriate[o protect Lender's interest in the Propedy and rights under this Security [nstrument, 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 this Security Instrument (b)appearing in couR; and (c) payin�reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its sewred 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 tumed on or off. AlYhou�h Lender may take action under this Section 9, Lender does not have[o do so and is not under any duty or obligaLion to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Sec[ion 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note ra[e from the date of disbursement and shall be payable,with such interest,upon notice from Lender to Borrower requesting payment. Ifthis Security [nstrument is on a leasehold, Borrower shall comply with all the provisions ofthe 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. ]0. Mortgage Insurance. If Lender required Mortgage Insurance 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 [nsurance 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 towazd the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coveiage substantially equivalent to the Mortgage Insurance previously in effect, at a wst substantially equivalent to the cost to Borrower of the MoRgage Insurance previously in effect, from an alternaze mortgage insurer selected by Lender. If substantially eyuivalent Mortgage Insurance coverage is not avaitable, 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 Ioss reservc shall 6e non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Burzower 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 an insurer selected by Lender again becomes available, is obtained, and I,ender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required MoRgage Insurance as a condition of making 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 a non-refundable bss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 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 Loan as agreed. Bortower is not a party to the Mortgage[nsurance. Mortgage insurers evaluate their 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 tenns and conditions that are satisfactory ro the mortgage insurer and the other party (or parties) to [hese agreements. VEBRASKA-Single Family-Fannie hlae/Freddie Dtar UNIFORM INSTR0.MEN'f N'1'PH h1ERS Form 3028 I/01 Page S of 16 Ini[ialx�r�: