201205848 - Laserfiche WebLink

Browse

241 20584� connection wiW the Loan. Material representaflons include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's prIndpal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Se�curity Instrument. If (a) Bonower fails to perform the covenants and agreements contained in this Security Instrument, (b) Were 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 bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Sec�rity Instrument 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 to protect Lender's interest in the Property and rights under this Securlty Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing We 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 Inshvment; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in We Property and/or rights under this Security 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 boazd up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilifles turned 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 actions authorized under this Secflon 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by tl�is Security Inshvment. These amounts shall bear interest at We Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower reques8ng payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. ff Borrower acquires fee fltle to the Property, the leasehold and We fee title shall not merge unless Lender agrees to the raerger in wrlting. 10. Mort�a�e 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 Insurance 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 toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substanflally equivalent Mortgage Insurance coverage is not available, 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 Wese payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact Wat the Loan is ulttmately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the NEBR�1$I{.� — Single FamllY -- Faenio Mae/Fraddia Mac UHIFORbf INSPRUI�IVT Form 3028 ll0�� GCC- G3028-09 (09/01) (Page 9 of19) Iaitials: .