201205253 - Laserfiche WebLink

Browse

2 U120525� 6. Occupancy, Borrower sha11 occupy, establish, and use the Property as Borrower's principal residence within 60 da.ys after the execution of this Security Instrument and shall continue to occupy the Properiy as Bonower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, wluch consent sha11 not be unreasonably withheld, or unless extenuaSing circumstances exist which aze beyond Borrower' s control. 7. Presetvetion, Maintenance and Protection of the Property; Inspec#ions. Borrower sha11 not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Properiy. Whether or not Borrower is residing in the Propetrty, Borrower sha11 maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition, Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower sha11 promptly repair the Properiy if damaged to avoid further deterioration or daanage. If insurance or condemnation proceeds aza paid in connection with damage to, or the taking of, the Property, Bonower sha11 be responsible for repairing or restoring the Property only if Lender has released proceeds for such putposes. Lender ma.y disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds aze not sufficient to repair or restore the Property, Bonower is not relieved of Bonower' s obligation for the completion of such repair or restorarion, Lender or its agent ma.y make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender sha11 give Bonower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Applicetion. Borrower sha1l be in default if, during the Loan application pzocess, Borrower or any persons or entities acting at the direction of Bonower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material informaxion) in connection with the Loan. Material representations include, but are not limited to, representations concerning Bonower' s occupancy of the Property as Borrower' s principal residence. 9. Protection of Lender's Interest in the Property end Rights Under this Security Instrument. If (a) Bonower 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 banlQUptcy, probate, for condemnation or forfeiture, for enforcement of a lien which ma,y attain priority over tlus Security Instrument or to enforce laws or regulations), or (c) Bonower has abandoned the Properiy, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Properiy, and securing and/or repairing the Property. Lender's actions can include, but aze not limited to: (a) paying any sums secured by a lien wluch has priority over this Se,curity Instrument; (b) appearing in court; and (c) paying reasonable attomeys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secuted position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repa.irs, change Iocks, replace or boazd up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities tutned 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 so. It is agreed that Lender incurs no liability for not taking any or all acrions authorized under this Section 9. 2200271845 NEBRASKA-Single Famfly-Fannie Maeffredd(e Mac UNIFORM INS'fRUMENT WITH MERS VMP Q Wokera Kluwer Financial Servic� � D VBANE Form 3038 1/07 VMPBAINE) (1105) Pege 8 of 17