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201700754
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Last modified
7/28/2017 1:47:33 PM
Creation date
2/2/2017 9:09:54 AM
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DEEDS
Inst Number
201700754
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2� 17��754 <br /> Any amou���s disbursed by Lender under t�iis�ectio�9�hall became additional d�bt of Borrotiver secured by <br /> thi�Securi�y Instrun�ent. Th�se amounts sha�l bear interes�at the Nat�rate from the date of disbursernent <br /> and sha�l be payabl�,with�u�ch interest,upon notice from Lender to Borrower requesting paym�nt. <br /> If this Security�nstrur�ent is on a leasehald, �3�rrower shali comp�y w�th alt the grov�s�ons of the iease. If <br /> Borr��aer a��uir��fee�itle to the Proper�y,the leasehatd and the fee ti�le shall not m�rge unless Lender <br /> agrees to the m�r�er in writin�. <br /> . 14, ll�lvrtgage fnsura�ce.�f Lender required Mortgage InsuranGe as a cond�tion of making the Loan, Boz�'ower <br /> sha�l p�y th�pr�miu�ms required�o maintain the Mortgage Insurance in effect. If, for any reason,#he <br /> Mor�gage Insur�nce coverage re�u�red by Lender ceases to b�availabie fram the m�rtgag�insurer that <br /> previously�rovided such insuran�e and Borro���r was required to make s�parately de��gna#ed paymen�s <br /> toward the premiums far Mortgage Insurance,SorrQwer sha1�pay the premiums r�quired to obtain co��rage <br /> �u�sfantially equiva�ent tt�the�ortgage�nsur�nce previous�y in effect,at a�ost substantially�quivaler�t t� <br /> the cost to Borrot�rer of the Mortgage�n�uran�e previously in eff�ct, fram an�.�ternate mortgag��nsurer <br /> select�d by L�nd�r, �f substantiai�y�qui�al�nt M�rtgage Insurance co�erage is not available,$orrawer shall <br /> eor�tint�e to pay to L�:nd�r the amaunt flf�he separately de�ignated payments that tivere due when the <br /> insurance c���ra�e�ea��d to be in eff�ct. Lend�r will ac�e�t,�ase and�etair�these pay�ents as a <br /> non-refundable�vss reserWe in iieu of Mortgage Insura�ce. Such loss reserve sha11 be non.-refundab�e, <br /> not��rithstanding the fact that the Laan is ul�imateiy paid in�'ull,and Lender shali�aot be requ�red tp pay <br /> Barrow�r a��r interest�r earnings an such�oss reserve. �Len�er can�o longer requ�re�ass reserve payments <br /> if Mortgage Insuran�e co�erage(it�the amaun�an�.for th�period that Lender requires}provided by an <br /> insurer selected by Lender again�ecomes available, is abtained,and Lender requires separatel�designated <br /> paym�nts towar�th��remiu�s far Ni�rtgage Ins�ra�nce. If Lender required ll�ortgage�nsurance as a <br /> �onditian of making th�Loan and�3Qrrower was required to make separately designat�d payments taward the <br /> premiums for�ortgage�ns��rance,Borra�ver sha�i pay the premiums required ta main�ain Mar�gage <br /> Ins�aran�e in ef�e�t,or to pro�ide a non-r�fund��ble��ss�'ese�rve,until L�nd�r's requir�ment for lUiortgage <br /> �nsurance e�1ds in accorda��ce with an��vritt�n agreement bet�veen Borro�er and Lender providit�g for such <br /> termination or until��rininatian i�requ�red by Applic�ble Law.No�hing in this Sectio� I�affects <br /> Bo�-rov�er's obligat�a��to pay interest at�he rate provided in the I�ote. <br /> Mor�tg�ge Ins�rance reimb�r�es Lender t�r any entity that purchases the l�ote)far certain�asses it may incur <br /> if�orrc��ver dUeS n�t repay the Lc�an as a�r�ed. Borro�ver is not a party to the M�rtgage�nsurance, <br /> Martgage i��surers evaluate their tota�risk on a�1 such i�xsurance �n force fram tim�to time,and may�nter <br /> �nta agree�nen�s with o��er partieS that share or madify their risk,ar redu�e�osses. Tbese agreements are on <br /> terms and conditiotls that are sat�sfactory to�he mortgage insur�X and the other�arty(or par�i�s}t�these <br /> agr�ements. These agree�nents may require the mor�gage in�urer to mak�payments using any source of funds <br /> that the mor�gage il�surer may have available(which may includ�funds obtained from Martgage Insurance <br /> premiums�. <br /> A�a result�f the�e a�reements,Lender,any purchaser of the Na�e,another insurer,any rein�urer,any <br /> oth�r entzty,or any a�"f l�at�af any of the faregaing,may r�c�iv��directly�r indirectly�an�ot�nts that <br /> c�eri��e frc�m�or mi�ht be characterizes�as}a portion of Borro�ver'�payments for Mort�age Insurance, in <br /> ex�hange for sharing a�r rnodi�ying��ze mo�-tgage insurer'�risk,or redueing losses. If such agre�ment <br /> pro�i�es tha�an aff liat�of L��nder ta�.es a share�f th�insur�r's risk in ex�hange far a share of t�.� <br /> premiums p�id to th� insurer,the arrangement i5 often termed "captive reinsurance."Further: <br /> q033669��157 ��33 51$ 4917 <br /> NEBRASE(A-Single Family-Fannie MaelFreddie AAac UNIF�RM fNSTRUMENT WITH MERS Fdrm 3a�8 11a1 <br /> VMP� VMP6A�NE}�1302�.�� <br /> Wolters Kluwer Fir�an�ial Services Pa�e 9 of 1� <br />
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