201206061 - Laserfiche WebLink

Browse

2p120606� 6. Occupancy. Bonower shall occupy, establiah, and use the Properly as Borrower's principal residence within 60 days after the execution of ttus Security Inslrument and ahall continue to occupy tha Property as Borrower' s principal residence for at least one year after the date of occupancy, unless I.ender otherwise agrees in writing, wluch consent sha11 not be unreasonably withheld, ar unless extenuating circumstancas exist wluch aze beyond Borrower's �ol. 7. Pr�ervation, Ma6tterrance and Protection of the Property; Inspectior�. Borrower sha11 not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether ar not Borrower is residing in the Property, Borrower sha11 maintain the Property in order to prevent the Properiy from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair ar restoration is not economically feav'ble, Borrower shall promptly repair the Properiy if damaged to avoid finther deterioration or danoage. If insurance or condemnation proceads are paid in connection with damage to, ar the taking o� the Property, Borrower shall be responsible for repairing or restoring the Properiy only if Lender has released procceds for such purposes. Lender may disburse proceeds for the repairs and r�toration in a single pay�nt or in a series of pro� payments as the work is completed. If the insurance or condemnation proceads are not sufficient to repair or restare tha Properiy, Borrower is not relieved of Borrower's obligation for tha completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it bas reasonable cause, Lender may inspect the interior of the improvements on tha Properiy. Lender shall give Bonower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrowers I.�oan Appllt�tton. Borrower sha11 be in default i� during the Loan application process, Boxrower or any persons or entities acting at the direction of Borrower or with Borrower' s kaowledge or consent gave materially false, misleading, ar inaccurate informalion or atatements to Lender (or failed to provide Lender with material inforn�ation) in coimaction with the Loan. Material representations include, but are not limited to, representations concerning Borrower' s occupancy of the Property as Horrower' s principal r�idence. 9. Protectlon af Lender's Ir�ter�at tn tF� Property and I�ights Under thi� Securiiy I�trument. If (a) Borrower fails to perform the covenaats and agreements contained in this Se,curity Ins�ment, (b) th�e is a legal procceding that might significantly affect Lender's interest in the Property and/or rights under this Security InshNment (such as a procceding in banl�uptcy, probate, far condemnation or forfeiture, for enfor�t of a lien which may attain priority over Yhis S�urity Instrument or to enforce laws or regulations), ar(c) Brnrower has abandoned tha Properiy, than Lender may do and pay for whataver is reasonable or appropriate to protect Lender's interest in the Property and rights under tlus Security Insriiunent, 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 limiterl to: (a) paying any sums se�ure� by a lien wluch has priority over this Security Instrument; (b) appc�ring in court; and (o) PaYing reasonable attorneys� fee.v to protect its interest in the Property and/or rights uader tlus Security Instmm�ent, including its se�ured position in a bankruptcy proce�ding. Securing the Progerty includes, but is not limit� to, entering the Properiy to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations ar dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender dnes not have to do so and is not under any duty or obligation to do so. It is agr�d that Lender incurs no liability for not taking any or all actions suthorized under tlus Section 9. NEBRASKASh�gle FemBy-FanNe Mae/Freddle M� UNIFORM INSTRUMENT WfTH�MER3 6 Form 30�8 VMP (ql VMP6A�NE� (1106) wokms Kluwer Fb� Smvkes Pege 8 oi 17