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201607305
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Last modified
7/28/2017 8:51:48 AM
Creation date
11/2/2016 12:18:59 PM
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DEEDS
Inst Number
201607305
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2� 1 ��73�5 <br /> An.y amounts disbursed b}�Lender under this SeGtion 9 shall become addit�anat deb�of Borrawer secured by <br /> this Security Instrument.'These amounts sha11 bear interest at the Note rate fram the date of disbursement <br /> and sha��be payab�e,with such interest,upon notice from Lender to Borrovver reques�ing payment. <br /> If this S�curity Instrument is on a leasehold,B�rrower shalt comp���vi�h a1�the pro��sions of t�e Iease. If <br /> Borrower acquires fee title to the Property,the leasehold and the fee ti�te shall not merge un�e�s Lender <br /> agre e s to the merger�n writing. <br /> 1�. Mortgage tnsurance.If L,ender required Mortgage Insurance a�a�ondition of making the Loan, Barrovver <br /> sha�l pay the premiums required to mainta�n the Mortgage Insurance in effect. If, for any reaso�.,the <br /> Mortgage Insurance co�rerage required by Lender ceases to be availabl�from the mortgage in�urer that <br /> previousiy provided such�nsurance and B�rrawer was re�uired to make�eparately d�signated payments <br /> taward the premiums for Martgage In.s�.rance,Barrovv�r sha11 pay the premiums required to abtain caverage <br /> sub�tantia�ly equi�alent�o the Mvrtgag�Insurance previousl�r in eff�ct,at a cost substa.ntially equivalent to <br /> the cost ta B�rrower of the Mortgage Insuranc��previously in effect,frvm an a.lterna�e mortgage in�urer <br /> selected by Lend�r. If�ubstantially equivalent Martgage Insurance co�erage is not a�aila�ale,Borrower sha11 <br /> cantinue t�pay to Lender the amount of the separately designated pa�ments that were due�hen the <br /> insurance coverage ceased t�be in effect. Lend�r wi11 accept,use a�d retain these payrnen.ts as a <br /> non-refundab�e�oss reser�e in li�u of Mortgage Insurance. Such lass res�rve�ha11 be non-refundable, � <br /> no�vvithstanding�he fact that the L�an is ultimately paid in fu11,and L�nder s�ia11 not be requued t�pay <br /> Borro�rer any interest or ea.r�ings on such�os�reser�e. Lender can no langer require loss reser�e payments <br /> if Mortgage Insurance coverage(in the amaunt and for the period that Lender requires�provided by aa <br /> �nsu.rer�el�cted by Lender again bec�mes a�ailable,is obtained,a.r�d Len�ier req�.ires separatel�designated <br /> payments toward the prem�ums for Mortgag�Insurance. �f Lender required Mortgage Insura�ce as a <br /> conditian of making the I.�an and�orra�er was requ�.red�o make separately designated payments towa.rd the <br /> premiums for Mortgage�nsurance,Borr�wer shall pay��e premiums required to maintain Mortgage <br /> Insurance in effect,or to pro�id�a noa-refundab�e�oss reserv�,until Lender'�requ�'ement for Mortgage <br /> Insurance ends in accordance with any writtea agreement between Borrawer and Lender providing for such <br /> terminatian�r unti�termrnation is r�quired by App�icable Lativ.�ath�ng in t�xs Section �4 affects <br /> B�rrower's obligati�n to pay interest at the rate pr�vided in the No�e. <br /> Mortgag�Insurance reimburses Lender(ar any entity th�.t purchases the Note}for certain tosses��may incur <br /> if Borrower does not repay the Loan as agreed. Borrower is not a party t�the Mortgage Ins�rance. <br /> Mortgage�nsurers evaluate their total risk on a11 such insurance in for�e from time to time,and may en�er <br /> into agreemen�s�vith other parti�s that share or m�dify their risk,or reduce losses. These agreements are on <br /> terms and canditions that ase satisfactary to�he mortgage insurer and the other paxty(ar parties}to these <br /> agreements.These agreements�rnay require the mortgage insurer to mak�payments using any�ource of funds <br /> tha#the mortgage in.surer may have avai�abl�(wh�ch may include funds obtained from Mortgage Insurance <br /> premiums�. <br /> As a result of these agreements,Lender,any purchaser of th�Note,ano�her insurer,any reinsu.rer,any <br /> other entity,ar an}�affi�iate af any of the foregoing,may recei�e�duect�y or indirect�y)amounts that <br /> deri�e from(or might be characteri.zed as}a portion of Borrower's payments f�r Mortgage In.�urance, in <br /> exchange for sharing�r modifying the mortgage�nsurer's r�sk,�r reduc�ng lasses. If such agreement <br /> provides that an affiliate of Lender takes a�hare nf the insurer's r�sk in exchange for a share of the <br /> premiums paid to the insurer,the arrangement is often termed"captive reinsurance."Further: <br /> q�33fi353�444 ��33 �95 �917 <br /> NEBRASKA-Singfe Famiiy-Fan�ie Mae{Freddie Mac UNIF4RM INSTRUMENT WETH MERS Form 3428 1141 <br /> Wofte�Kfuw�r Fina�c�a!Services VM���Page 9 of� <br />
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