201204179 - Laserfiche WebLink

Browse

�(i12� �' "`� 6. OCCUpanCy. Borrower shall occupy, establish, and use the Property as Borrower's prIncipal residence with�► 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Bonower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in wrlting, which consent shall not be unreasonably withheld, or unless extenuating clrcumstances exlst which are beyond Bonower's control. 7. Preservation, Matntenance and Prot�tion of the Property; Inspecttons. Borrower shall not destroy, damage or impair the Property, allow the Property to deterlorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deterlorating or decreasing in value due to its condiflon. Unless it is determined pursuant to Secflon 5 that repair or restoration is not economically feasible, Borrower shall prompfly repair the Property if damaged to avoid further deterloraflon or damage. If insurance or condemnaHon proceeds are paid in connectlon with damage to, or the taldng of, the Property, Borrower shall be responsible for repairing or restorIng the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repa�rs and restoration in a single payment or in a series of progress payments as the work �S completed. If the insurance or condemnaflon proceeds are not sufflcient to repair or restore the Pmperty, Borrower is not relieved of Borrower's obligation for the compleflon of such repair or restorallon. Lender or its agent may make reasonable entries upon and 9nspections of the Property. If it has reasonable cause, Lender may inspect the intedor of the improvements on the Property. Lender shall give Borrower noflce at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Appllc�tlon. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the dlrecflon of Borrower or with Bonower's knowledge or consent gave materlally false, misleading, or inaccurate 9nformation or statements to Lender (or failed to provide Lender with materlal informaHon) �in connecflon with the Loan. Materlal representations include, but are not limited to, representaHons conceming Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest ln the Property and Rights Under this S�urity Instrument. If (a) Borrower fails to perform the covenants and agreements contained 9n this Securlty Instrument, (b) there is a legal proceeding that zaight signiflcantly affect Lender's interest in the Property and/or rlghts under this Securlty Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over th9s Security Instrument or to enforce laws or regula8ons), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's lnterest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Pmperty, and securing and/or repairing the Property. Lender's acflons can include, but are not 19mited to: (a) paying any sums secured by a lien which has prlodty over this Securlty InsUvment; (b) appearing in court; and (c) paying reasonable attomeys' fees to protect its interest in the Property and/or rlghts under this Securlty 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, el9minate building or other code violations or dangerous conditlons, and have utilides turaed on or off. A1Wough Lender may take action under this Secflon 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all acflons authorized under this Section 9. 001 1 2 2994 78 3 Citlbank 3.2.b5.07 V7 NEBRASKASh�gie Femily-Fannie Mae/Fredfie Mec UNIFORM INSTRUMENT WITM MERS Form 3028 1/01 Wo ters Kluwer Flnanclal Se+vlces VMPBA(NE)�(110b).00 Pa 8 of 17