201602769 - Laserfiche WebLink

Browse

2� 1 ��27�9 fi. �CCupancy.Borrow�r shall occupy, establish, and use the Property as Barrower's principa�r�sidence within 6�days after the executinn of this Se�urity Instrument and sha�I co�►tinue to occupy th�Proper�y as Barrawer's pr�ncipa�re�idenc�for at least on��ear aft�r the dat�of oc�upancy,unless Lender��her�rise agrees in writii.ng,�vh.�ch consent sha��nat be unr�ason.ably withheld,�r un�ess extenuating circumstances exist vvhich are beyond Barrower's caatrol. ; ?. Preservativn,Maintenan�and Prot�ct�onvf th�Prvperty;Inspections.Bvrr��ver shall not destray, � damag�ar impair th�Property,allow the Property to det�riorate�r c�mmit waste on the Property. Wh�ther or not F3arro�v'er�s res�ding in the Property,Borrower shall ma�ntain th�Property in order ta pre�ent the � Praperty from de�eriarat�ng or decreasing in va�ue due to its cond�tion.Un�ess it is determined pursuant to Section 5 that r�pau or r�storation is not economically feasibl�,B�rrower sha11 promptly repair the Property if damaged to avoid further deteriorat�on or damage.If insurance or condemnation praceeds are pa�d in r connection�ith damage ta,or the taking of,the Froperty,Borrower sha1�be responsxble for repair�ng or restor�ng the Property only if Leader has re�eased pr�ceeds for such purposes. Lender may disburse proceeds �� for the repairs and restoratian in a�xngle payment or in a series of progress payments as the worl�is , completed. �f�he�nsurance or condemnation proceeds are n�t suff�cient to repau or restore the Property, � Borrawer is not reiieved af Borrower's ob��gati�n for the camptetion of such repau or restoration. � Lender ar its agen�may make reasona�le entries upvn and in�pections of the Pr�perty. If it has reasonable caus�,Lender rna�in�p�ct the interiar of the impravements an the Praperty. Lender sha11 give Borrow�r noti�e at the tim�af�r prior�o such an interior inspection specif�ing such reasanabl�cause. 8. Barra�rer's Loan Applicati�n.Barrower sha11 be in default if, during the Loan applicat�€�n process, �orrawer or any pers�n�or entiti�s acting at the direction of Borrower or�ith Borrower's kno�vledge or consent ga�re materially false,misleading,or inacGurate information ar statements to Lender�or failed to provide Lender with material infarmati�n)in cannection with the Lo�n. Materia�representa��ons inc�ude,but are not limited t4,representations conc�ming BQrrower's o��upancy Qf th�Froper�y as Borrower's principal residence. 9. P�otectionaf Lender's�nterest in the Prop�rtyand Rights Under this Security Instrument.If�a) Barrower fails to perform the covenants and agreernents contained in�his Security In.s�rument, (�}there is a legal proceeding that might significantly affect Lender's interest in th�Property andlor rights under this S�cur�ty Instarument(such as a proceedi�g in bankruptcy,probate, far candemnation or forfeiture, far �nforcem�nt of a li�n which may attain priority a�er this Security Instrument or to enforce laws or regula�ions),or(c}Borrower has abandoaed the Property,then Lender may do and pay f�r whate�er is reas�nab�e vr appropriate to pro�ect L�nder's interest in the Property and rights under this Securi�y Instrument,including protecting andlor assessing the value of the Property,and securing and�or repair�n� � the Property.Leader's actions can include,but are not�xmited t�: (a}paying any sums secured by a��en which has priori#y over this Security Instrument; (b}appearing ia cour�;and�c)pay�n�reasonable at��rneys' fees to protect its interest in.the Property andlor rights under this Security Instrumen�,iacluding its secured posit�on in a bankruptcy praceeding. Securing th�Froperty in�ludes,but�s not limited to, entering the Property to make repau�s,change locks,replace or bQard up doors and windows,drain water from pipes, eliminate building or other code violation�or dangerous canditions,and have utilities turned on or off. Although Lender may take action under this Sectian�,L�nder does not hav�to do so and is not under any duty or obligation t�do so.It is agr�ed that Lender incurs no liability for not taking any�r all a�tions auth�r�2ed under this Sectian 9. q43355985�11 �233 2S2 4817 NEBRASKA�ing�e Family-Fannie MaelF�+eddEe Mac LiN1FQRM INSTRUAIIENT VIIITH MERS Form 3428 1101 VMR� VMPSA{NE}(13U2}.40 Wa�ters Kluwer Fi�ancial 5ervicea Page 8 of 1�