201600514 - Laserfiche WebLink

Browse

2� 1 ��514 S. �ccupancy.Borrower shai�occupy, establish, and use the Property as Borrower's principal residence within 6�days after the ex�cution of this Seeurity Instrument and sha11 continue to occupy the Property as Borrower's principat residence for at least one y�ar after the date of occupancy,unless Lender otherwise agrees in writing,which consent sha11 not be unreasonably withheld,or unless extenuating circumsta.nces exi�t�hich are beyond Banower's contro�. 7. Preservat�on,Maintenance and Protection of the Property;Inspections.Borra�er sha1�not destroy, damage or impair the Property,at�ow the Property to de�eriorate or commit waste on the Property. Whether or no�Borro�ver is residing in the Property,Borrower sha11 mainta.in the Property in order to pre�ent the Property from deterioratit�g or decr�asing in�alue due to �ts cand�ti�n.Unless it is det�rmined pursuant to S�ction 5 that repair or restoration is not economically feasible, Borrower sha�1 promptty repair the Property if damaged to a�oid further deterioration or damage. �f insurance or cond�mnation proceeds are paid in connect�on w��h damage to,or the ta.king of,the Pr�perty,Borro�ver shall be r�sponsibte for repairing or restoring the Property on�y if Lender has re�eased praceeds for such purpases. Lend�r may disburse pro�eeds for the repairs and restoration in a single payment or in a series af progress�aayments as the work is completed. If the insurance or condemn.ation procee�.s are not sufficient to repair or restore the Praperty, Bortower is not reliev�d vf F3orrawer's obligation for the com�le�ian of su.c�repair�r�estoration. Lender or its agent may make reasonable entr�es upan and�nspeG��ons of the Praperty. If it has reasonable cause, Lender may inspect the interior of the impro�ement�on the Property. Lend�r sha��give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application.$�rrower sha�1 be in default if, during the Loan application process, Borrower vr any per�ons ar entities acting at the direction af�orrower ar w�th Borro�er's knowledge�r co�sent gave materia��y false, misieading,or inaccurate information ox statements to Lender(ar fa�led to provide Lender�vith material i�formation)in cvnxiection with t�.e Loan. Material representations include,but are not limited to,representatians�onceming Borrower's a�cupancy of the Property as Borro�uer`s principal residence. 9. Protectianof Lender's Interest i�the Prv�aerty ant�f��ghts Under this Security Ins�rument.If(a} Borrower fails to perform the covenan�s and agreements contained in tihis Security�nstrument, (b}there �s a legal proceeding that might signifi�antly affect Lender's interest in t�he Property andfor rights under this 5ecuri�Instrument(such as a proceeding in bankruptey,probate, for condemnation or f�rfeiture, for enforcement af a 1i�n w�ich may attain priority o�er�his Security Instrument or to enforce�aws or regu�at�vns},or(c}Borrower has abandoned the Property,then Lender may do and pay for whatever is reasonable or appropria�e to protect Lender`s in�erest in.the Property and rights under this Se�urity Instrument, including pro�ecting andlor assessing the value of th�Property, and securing andlor repai.r�ng the Property. I�ender's actions can include,but are no��im�ted ta: (a}paying any sums secured by a lien �vhich has prior�ty o�er th�s Security Instrument; �b�appearing�n cour�; and(c}paying reasonable attarneys' fees to protect its in�erest in the Property ant�lor rights under this Secu�ity Instrument, inc�uding�ts secured position in a bankruptcy proceeding. Securing the Praperty in�ludes,but�s not��m�ted to, entering the Property to make repa�rs,change �ocks,reptace or board up daors and�vindovvs,drain�ater from pipes, elirnzna�e bui�ding or other code violations or dangerous cond��ions,and have u�i��ties tumed on or off, Although Lender may take action under this Section 9, Lender does not have to do so a�d is nat under any duty or vbligat�an to do so. It is agreed that Lender incurs no �iability for n�t tak�ng any or aI�a�tions autharized under this Section 9. q�33516Q20�� 233 238 �817 N��BRASKA-Sing4e Fami�y-�annie M�efFreddi�Mac U1�IFaRM INSTRUMEhIT V►14TH MERS Form 34Z8 1l�1 VMP� VMPfiA(NE}(1342}.44 Wolters Kluwer Financial Seniices Page 6 of 17