201206175 - Laserfiche WebLink

Browse

2412�617�� 1111065811 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or irnpair the Property, allow the Property to deteriorats or commit waste on the Property. Whether or not Borrower is residing in the Properiy, Borrower shall 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 Secrion 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Properry if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, tlte Property, Borrower shall be respons'ble for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may 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 are not sufficient to repair or restore the Property, Bortower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Froperty. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during tbe Loan applicatian process, Borrower or any persons or entities acting at the direction of Borrowar or with Bonower's knowledge or consent gave materially false, misleading, or inaccurate informarion or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations conceming Borrower's occupancy of the Property as Borrower's principal residence. , 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrnment. If (a) Borrower fails to perforn► the covenants and agreements contained in this Security Instrument, (b) there is a legal proceed'mg that might signifscantly af�ect Lender's interest in the Property andJor rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeituze, for enforcement of a lien which may attain priority over this 3ecurity 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 Security Instrument, inciuding protecting and/or assessing the value of the Property, and securing aad/or repairing the Property. Lender's actions can include, but are not liraited to: (a) paying any sums secured by a lien wiuch has priority over this Security Inshvment; (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 secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Properiy to make repairs, charige locks, replace or board up doors and windows, drain water &om pipes, eliminate building or other code violations or dangerous conditions, and have utilities tumed 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 Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security lnstrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security [nstrument is on a leasehold, Bonower shall comply with all the provisions of the lease. Borrower shail not suaender the leasehold estate and interests herein conveyed or terminate or cancel the ground lease. Borrower shall not, without the express written consent of Lender, alter or amend the ground lease. If Borrower acquires fee title to the Property, the leasehold and the fce title shall not merge unless Lender agrees to the merger in writing. 1Q. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of malcing the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any N�BRASKA--Single Family—Fannie Mae/FreddPe Msc UNIFORM INSTRUMENT � 338.8 Page 7 of 14. Form 30281/Ol �� �