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201209761
<br /> LOAN ID # 1701572961
<br /> amounts unpaid under the Note or this Security instrument,and(b)any other of Borrower's rights(other than
<br /> the right to any refund of unearned premiums paid by Borrower)under all insurance policies covering the
<br /> Property,insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance
<br /> proceeds either to repair or restore the Properry or to pay amounts unpaid under the Note or this Security
<br /> Instrument,whether or not then due.
<br /> 6. Occupancy. Borrower shall occupy,establish,and use the Property as Borrower's principal residence
<br /> within 60 days after the execution of this Security Inswment and shall continue to occupy the Property as
<br /> Borrower's principal residence far at least one year after the date of occupancy,unless Lender otherwise agrees
<br /> in writing,which consent shall not be unreasonably withheld,or unless extenuating circumstances exist which
<br /> are beyond Borrower's control.
<br /> 7. Preservation,Maintenance and Protection of the Property;Inspections. Borrower shall not destroy,
<br /> damage or impair the Property,allow the Property to deteriorate or commit waste on the Property. Whether or
<br /> not Borrower is residing in the Property,Borrower shall maintain the Property in order to prevent the Property
<br /> from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 thaf
<br /> repair or restoration is not economically feasible,Borrower shall promptly repair the Property if damaged to
<br /> avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with
<br /> damage to,or the taking of,the Property,Borrower shall be responsible far repairing or restoring t�e Property
<br /> only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and
<br /> restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or
<br /> condemnation proceeds ue not sufficient to repair or restore the Property,Borrower is not relieved of
<br /> Borrower's obligation for the completion of such repair or restoration.
<br /> Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable
<br /> cause,Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice
<br /> atthe time of or prior to such an interior inspection specifying such reasonable cause.
<br /> 8. Borrower's Loan Application. Borrower shall be in default if,during the Loan application process,
<br /> Borrower or any persons or entities acting at the direction of Borrower or with Bottower's knowledge or consent
<br /> gave materially false,misleading,or inaccurate information ar statements to Lender(or failed to provide Lender
<br /> with materia]information)in connection with the l.oan. Material representaCions include,but are not]imited to,
<br /> representations concerning Borrower's occupancy of the Property as Borrower's principal residence.
<br /> 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If(a)
<br /> Borrower fails to perf'orm the covenants and agreements contained in this Security Instrument,(b)there is a legal
<br /> proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security
<br /> Instrument(such as a proceeding in bankruptcy,probate,for condemnation or forfeiture,for enforcement of a
<br /> lien which may attain priority over this Security Instrument or to enforce laws or regulations),or(c)Borrower
<br /> has abandoned the Property,then Lender may do and pay for whatever is reasonable or appropriate to protect
<br /> Lender's interest in the Property and rights under this Security Instrument,including protecting and/or assessing
<br /> the value of the Property,and securing and/ar repairing the Property. Lender's actions can include,but are not
<br /> limited to: (a)paying any sums secured by a lien which has priority over this Security Instrument;(b)appearing
<br /> in court;and(c)paying reasonable attorneys'fees to protect its interest in the Property andlor rights under this
<br /> Security Instrument,including its secured position in a bankruptcy proceeding. Securing the Property includes,
<br /> but is not limited to,entering the Property to make repairs,change locks,replace or board up doors and
<br /> windows,drain water from pipes,eliminate building or other code violations or dangerous conditions,and have
<br /> utilities turned on or off. Although Lender may take action under this Section 9,Lender does not have to do so
<br /> and is not under any dury or obligadon to do so. It is agreed that Lender incurs no liabilify for not taking any or
<br /> all actions authorized under this Section 9.
<br /> Any amounts dishursed by Lender under this Section 9 shall become additional debt of Borrower secured by
<br /> this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and
<br /> shall be payable,with such interest,upon notice from Lender to Borrower requesting payment.
<br /> If this Security Instrument is on a leasehold,Borrower shall comply with all the provisions of the lease. if
<br /> Borrower acquires fee title to the Property,the leasehold and ttie fee title shall not merge unless Lender agrees
<br /> to the merger in writing.
<br /> 10. Mortgage Insurance. If I,ender required Mortgage Insurance as a condition of making the Loan,
<br /> Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If,for any reason,the
<br /> Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that
<br /> previously provided such insurance and Borrower was required to make separately designated payments towar'd
<br /> the premiums for Mortgage Insurance,Borrower shall pay the premiums required to obtain coverage
<br /> substantially equivalent to the Mortgage Insurance previously in effect,at a cost substantially equivalent to the
<br /> cost to Borrower of the Mortgage Insurance previously in effect,from an alternate mortgage insurer selected by
<br /> Lender. If substantially equivalent Mortgage Insurance coverage is not available,Borrower shall continue w
<br /> pay to Lender the amount of the separately designated payments that were due when the insurance coverage
<br /> ceased to be in effect. Lender will accept,use and retain these payments as a non-refundable loss reserve in lieu
<br /> of Mortgage Insurance. Such loss reserve shall be non-refundable,notwithstanding the fact that the Loan is
<br /> ultimately paid in full,and Lender shall not be required to pay Borrower any interest or earnings on such]oss
<br /> reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage(in the amount and
<br /> for the period that Lender requires)provided by an insurer selected by Lender again becomes available,is
<br /> obtained,and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If
<br /> Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make
<br /> separately designated payments toward the premiums for Mortgage Insurance,Borrower shall pay the premiums
<br /> required to maintain Mortgage Insurance in effect,or to provide a non-refundable loss reserve,until Lender's
<br /> requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and
<br /> Lender providing far such termination or until termination is required by Applicable Law. Nothing in tliis
<br /> Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note.
<br /> Mortgage Insurance reimburses Lender(or any entiry that purchases the Note)for certain losses it may incur
<br /> if Borrower does not repay We Loan as agreed. Borrower is not a party to the Mortgage Insurance.
<br /> Initials:��^'� r_/�'�
<br /> NEHRASKA--Single Family--Fannie MaelFreddie Mac UNiFORM INSTROMF.NT Form 302R 1/Ol (page 5 of 10pagrs)
<br /> NECMMS-O1fId2012 www.ProClose.com
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