201209236 - Laserfiche WebLink

Browse

�O��Q�23� 9. Pratection of Lender's Interest in the Property and Rights Under th�s Security I�strumen� If (a) Borrower fails to perform the r,ovenants and a�reements contained in this Security Inslrumcne, (b) there is a legat proceeding that might significantly affecc �ender's interest in ihe Propezty andlor righes under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for eniorcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c} Bocrower has abandoned the Property, then Lender may do and pay for whataver is reasonablc or appropriate ta proiect Lender's interest in thc Praperty and �ights under this Security Instrument, including protec[ing and/ar assessing the value of the Property, and securing and/or repairing the Property. Lender's acxions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable atlorneys' fees to protec:t its intarest in the ProperEy and/or rights under this Security Instrument, inciuding its securerl position in a bankruptcy proceeding. Securing the Property includes, but is not Iimited io, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water frozn pipes, eliminate building or other code vioiatians or dangerous conditions, and have utilities turnetl on or ofr Although Lender may take action under this Section 9, I,ender does not have to do so and is not under any duty or obligation to do so. It is ab eed that Lender incurs na liability for not taking any or all actions authorized under this Sectian 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of I�orrawer secured by this Security Instrument. These amounts shalt bear interest at the Notc ra#e from the date of disbursemeni and shafI be payable, with such interest, upon notice froxn I,ender ca Bonower requeslxng payment_ If lhis Security Instrument is on a leasehold, Borrower shall comply wieh all the provisions of the lease. If IIvrrowcr acquires fee title to the Property, the leasehald and the fee title shall no[ merge unless Lender agrees to the merger in writing. 10. Mortgage Insnrance. If Lender reqvired Mortgage Insurance as a candition af making the Loan, Borrower sha11 pay the premi.ums required ta maintain the Martgage Insnrance in effect. If, for any reason, the N�ortgage lnsurance coverage required by Lender ceases to be avaiIable frpm the mortgaga insurer that previously provided such insurance and Borrower was required to make separately designated payments towa,rd the premiums for Mortgage Insurance, �rrower shall pay tt�e premiums required to obtain coverage subst�.ntially equivalant to the Mortgage Insurance pzeviousiy in effect, at a cost substantially equivalcnt to the cost to Fiorrower of the Mortgage Insurance previousiy in effect, from an atternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insarance cc�verage is not available, .C�rrawcr shall continue to pay to Lender thc axnount of the sepazately designated payments that were due when the insurance coverage ceaseti to be in effect. Lender will accept, use and retain these paymenls as a non-rcrundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-rcfundable, natwithstanding the fact that the Laan is ultimately paid in fu1�, and Lender shall not be raquired to p�y Borrower any interest or earnings on such Ioss reserve. Lender can no tonger requize loss res�rve payments if Mortgage Insurance caverage (in the amount and for the geriod that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately desib ated pay�ments toward the premiums for Mortgage Insurance. If Lender rec�uired Mortgage Insurance as a condition of making the Loan and Iiorrawer was required to make separately designated payments tc�ward the premiums far Mo�rtgage Insurance, �orrower shall pay the prerniums requiretl to maintain Mortgage insurance in effect, or to provide a non-refundable loss reserve, until Lender's requircment for Mortgage Insurance ends in acc;ordance with any written agreement between Borrower and Lender providing for such termination or until tetmination is tequired by Applicable Law. No�hing in this Seciion 1p affects I3c�rrawcr's obligation to pay interesi at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if T3orrower does not repay the Laan as a�,°'reed. Barrawer is not a garty fo she Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from tixne to time, and may enter inta agreements with other parties that share or modify their risk, or reduce lasses. These agreements are on tetms and conditions that aze sarisfactory ta the martDag� insurer and the other party (or partiesj to these agreements. These agreements may require ti�e mortgage inswer to make payments using any source of funds ihat the mort�age insurer may have available (which may include funds obtained from Mortgage Insurance premiums}. �z-os-000�z�. NEBRASKA - Single Family - fannie MaelFreddie INac UNIFORM 1NS7RUNiEN7 WitH MERS �-fiA(NEj Soe1a) Pagea oti8 Forl» 3d2$ 1105 m C�