|
201300494
<br /> V2 WBCD LOAN # 503599191
<br /> Section 22 or otherwise, Borrower hereby assigns to Lender(a) Borrower's rights to any insurance
<br /> proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument,
<br /> and (b)any other of Borrower's rights(other than the right to any refund of unearned premiums paid
<br /> by Borrower) under all insurance policies covering the Property,insofar as such rights are applicable
<br /> to the coverage of the Property.Lender may use the insurance proceeds either to repair or restore the
<br /> Property or to pay amounts unpaid under the Note or this Security Instrument,whether or not then due.
<br /> 6. Occupancy. Borrower shall occupy, establish,and use the Property as Borrower's principal
<br /> residence within 60 days after the execution of this Security Instrument and shall continue to occupy
<br /> the Property as Borrower's principal residence for at least one year after the date of occupancy,unless
<br /> Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br /> extenuating circumstances exist which are beyond Borrower's control.
<br /> 7. Preservation,Maintenance and Protection of the Property;Inspections.Borrower shall not
<br /> destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the
<br /> Property.Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in
<br /> order to prevent the Property from deteriorating or decreasing in value due to its condition.Unless it is
<br /> determined pursuant to Section 5 that repair or restoration is not economically feasible,Borrower shall
<br /> promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or
<br /> condemnation proceeds are paid in connection with damage to,or the taking of,the Property,Borrower
<br /> shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such
<br /> purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a
<br /> series of progress payments as the work is completed.If the insurance or condemnation proceeds are
<br /> not sufficient to repair or restore the Property,Borrower is not relieved of Borrower's obligation for the
<br /> completion of such repair or restoration.
<br /> Lender or its agent may make reasonable entries upon and inspections of the Property. If it has
<br /> reasonable cause,Lender may inspect the interior of the improvements on the Property.Lender shall give
<br /> Borrower notice at the 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
<br /> process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's
<br /> knowledge or consent gave materially false, misleading, or inaccurate information or statements to
<br /> Lender (or failed to provide Lender with material information) in connection with the Loan. Material
<br /> representations include,but are not limited to,representations concerning Borrower's occupancy of the
<br /> Property as Borrower's principal residence.
<br /> 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument.
<br /> If(a)Borrower fails to perform the covenants and agreements contained in this Security Instrument.(b)
<br /> there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights
<br /> under this Security Instrument (such as a proceeding in bankruptcy, probate.for condemnation or
<br /> forfeiture,for enforcement of a lien which may attain priority over this Security Instrument or to enforce
<br /> laws or regulations), or(c) Borrower has abandoned the Property,then Lender may do and pay for
<br /> whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this
<br /> Security Instrument,including protecting and/or assessing the value of the Property,and securing and/
<br /> or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums
<br /> secured by a lien which has priority over this Security Instrument;(b)appearing in court;and(c)paying
<br /> reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security
<br /> 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,
<br /> and have utilities turned on or off.Although Lender may take action under this Section 9,Lender does
<br /> not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no
<br /> liability for not taking any or all actions authorized under this Section 9.
<br /> Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower
<br /> secured by this Security Instrument.These amounts shall bear interest at the Note rate from the date
<br /> of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower
<br /> requesting payment.
<br /> If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the
<br /> lease.Borrower shall not surrender the leasehold estate and interests herein conveyed or terminate or
<br /> cancel the ground lease. Borrower shall not,without the express written consent of Lender, alter or
<br /> amend the ground lease. If Borrower acquires fee title to the Property,the leasehold and the fee title
<br /> shall not merge unless Lender agrees to the merger in writing.
<br /> 10. Mortgage Insurance.If Lender 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,
<br /> the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurerthat
<br /> previously provided such insurance and Borrower was required to make separately designated payments
<br /> toward 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
<br /> the cost to Borrower of the Mortgage Insurance previously in effect,from an alternate mortgage insurer
<br /> Initials: at C.PI,Ji!
<br /> NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 30281/01
<br /> Online Documents,Inc Page 6 of 11 NEEDEED 1212
<br /> 01-11-2013 16:38
<br />
|