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Loan No: 790285 Data ID: 388
<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
<br />in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless
<br />it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower
<br />shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance
<br />or condemnation proceeds are paid in connection with damage to, or the taking of, the Property,
<br />Borrower shall be responsible for repairing or restoring the Property only if Lender has released
<br />proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single
<br />payment or in a series of progress payments as the work is completed. If the insurance or
<br />condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved
<br />of 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
<br />reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall
<br />give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable
<br />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,
<br />(b) there is a legal proceeding that might significantly affect Lender's interest in the Property and /or
<br />rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation
<br />or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to
<br />enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay
<br />for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under
<br />this Security Instrument, including protecting and /or assessing the value of the Property, and securing
<br />and /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
<br />(c) paying reasonable attorneys' fees to protect its interest in the Property and /or rights under this
<br />Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property
<br />includes, but is not limited to, entering the Property to make repairs, change locks, replace or board
<br />up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous
<br />conditions, and have utilities turned on or off. Although Lender may take action under this Section 9,
<br />Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that
<br />Lender incurs no 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. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge
<br />unless Lender agrees to the merger in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the
<br />Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for
<br />any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the
<br />mortgage insurer that previously provided such insurance and Borrower was required to make separately
<br />designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums
<br />required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at
<br />a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect,
<br />from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance
<br />coverage is not available, Borrower shall continue to pay to Lender the amount of the separately
<br />designated payments that were due when the insurance coverage ceased to be in effect. Lender will
<br />accept, use and retain these payments as a non - refundable loss reserve in lieu of Mortgage Insurance.
<br />Such loss reserve shall be non - refundable, notwithstanding the fact that the Loan is ultimately paid in
<br />full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve.
<br />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,
<br />is obtained, and Lender requires separately designated payments toward the premiums for Mortgage
<br />Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower
<br />was required to make separately designated payments toward the premiums for Mortgage Insurance,
<br />Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a
<br />non - refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with
<br />any written agreement between Borrower and Lender providing for such termination or until
<br />termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation
<br />to pay interest at the rate provided in the Note.
<br />NEBRASKA VA DEED OF TRUST
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<br />Form 3028 1/01 (Page 6 of 11 Pages)
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<br />201400534
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