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200008622
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Last modified
10/13/2011 8:41:30 PM
Creation date
10/20/2005 9:52:22 PM
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DEEDS
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200008622
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200008622 <br />that no portion of the Mortgaged Property has been or will be purchased with the proceeds <br />of any illegal activity. <br />11. USE OF PROPERTY. Unless required by applicable law, Borrower shall not <br />(a) except for any change in use approved by Lender, allow changes in the use for which <br />all or any part of the Mortgaged Property is being used at the time this Instrument was <br />executed, (b) convert any individual dwelling units or common areas to commercial use, <br />(c) initiate or acquiesce in a change in the zoning classification of the Mortgaged Property, <br />or (d) establish any condominium or cooperative regime with respect to the Mortgaged <br />Property. <br />12. PROTECTION OF LENDER'S SECURITY. <br />(a) If Borrower fails to perform any of its obligations under this Instrument or <br />any other Loan Document, or if any action or proceeding is commenced which purports <br />to affect the Mortgaged Property, Lender's security or Lender's rights under this <br />Instrument, including eminent domain, insolvency, code enforcement, civil or criminal <br />forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or <br />reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's <br />option may make such appearances, disburse such sums and take such actions as Lender <br />reasonably deems necessary to perform such obligations of Borrower and to protect <br />Lender's interest, including (1) payment of fees and out -of- pocket expenses of attorneys, <br />accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make <br />repairs or secure the Mortgaged Property, (3) procurement of the insurance required by <br />Section 19, and (4) payment of amounts which Borrower has failed to pay under <br />Sections 15 and 17. <br />(b) Any amounts disbursed by Lender under this Section 12, or under any other <br />provision of this Instrument that treats such disbursement as being made under this <br />Section 12, shall be added to, and become part of, the principal component of the <br />Indebtedness, shall be immediately due and payable and shall bear interest from the date <br />of disbursement until paid at the "Default Rate ", as defined in the Note. <br />(c) Nothing in this Section 12 shall require Lender to incur any expense or take <br />any action. <br />13. INSPECTION. Lender, its agents, representatives, and designees may make <br />or cause to be made entries upon and inspections of the Mortgaged Property (including <br />environmental inspections and tests) during normal business hours, or at any other <br />reasonable time. <br />FANNIE MAE MULTIFAMILY SECURITY INSTRUMENT - Form 4028 4/98 Page 15 <br />NEBRASKA <br />
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