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200412265
<br />7. Preservation, Maintenance and Protection of the Property ; Inspections. Borrower shall not destroy, damage or
<br />impair the Property, allow the Property to deteriorate or commit waste on the Property. whether or not Borrower is resitling in
<br />the Property, Borrower shall maiumiu the Property in order in prevent the Property from deteriorating or decreasing in value
<br />due to its condition. Unless it is determined pursuant to Serum, 5 that repair or restoration is not economically feasible,
<br />Borrower shall Prompdy repair the Property if damaged to avoid further deterioration or damage. If insurance or
<br />condemnation proceeds are paid in correction with damage to, or the taking of, the Property Leader shalt b be responsible eeds for
<br />rcpxiriag or restoring the Property orgy tt Lender has released proceeds for such purposes. Y p
<br />die repairs ad restoration in a single payment ur in a series of progress payments as the work is completed. If the insurance or
<br />condemnation procecds ate rot sufficient [o repair nr resmre the Property, Borrower is no[ relieved of Borrower's obligation
<br />for the rompletmn of such repair or re storation.
<br />Lender a its agent may mike reasonable emrins upon and inspections of the Property. If it Its reaeooable cause,
<br />Lentler may impec[ the interior of the improvements oo the Property. Lender shall give Borrower notice a the time of or prior
<br />[o such an interior inspection specitying such reazooable cause.
<br />8. Barcm, L_S LOm Application. Burrower
<br />shall be in default if, during the Loan application process, Burrower or
<br />any persons or entities acting at the direction of Dmrowe[ or with Borrower's knowledge or consent gave materially false,
<br />misleading, or inaccuram information of stammems m Lender (or failed to provide Leader with material information) in
<br />connection with the Lnm. Ma[e[ial teprescatations include, but are not limited [o, representations concerning Borrower's
<br />occupancy of the Prppetry as Borrower's principal residence.
<br />9. Protection of Leader's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails
<br />[o perform the covenants and agreements comaiaed in [his Security Instrument, (b) there B a legal proceeding that might
<br />significantly affect Leader's interest in the Property and /or rights under this Security Instrument (such as a proceeding in
<br />bankruptcy, probate, for condemnation or forfeiture, for enforcement of a Ben which may attain priority over this Security
<br />Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for
<br />whatever is reasonable or appropriate to protect Leader's interest in the Propery and rights under this Security Instrument,
<br />including protecting and/or assessing the value of the Property , and securing sad /or repairing the Property. Lender's actions
<br />can include, but are not limited m: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b)
<br />appenring in court; and (e) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this
<br />Security Instrument, including its secured position in a bankmpicy proceeding. Securing the Property includes, but is not
<br />limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from
<br />Pipes, climi¢ate budtling u[ other code violations or dangerous conditions, and have utilities turned on or off. Although Lender
<br />may take action under [his Section 9, Lender does rat have to do so and is m[ under any duty or obligation to do so. It is
<br />agreed tMt Lender incurs m liability for not taking any or all actions authorized under this Section 9.
<br />Any amounts disbursed by Lender unite[ this Sectioa 9 shall become additional debt of Borrower secured by this
<br />Security Instrument. 'These amounts shall bear interest ul [he Note rate from the date of disbursemea[ and shall be payable, with
<br />such interest, upon notice from Lender to Rorrower [eques[ing payment.
<br />If this SecmitY Instrument is o¢ a leaseholtl, Borrower shall comply with all the Provisions of the lease. If Borrower
<br />azyuires fee title m the Pmpeny, the leasehold and the fee [hie shall not merge unless Leader agrees m the merger in writing.
<br />70. Mortgage Insurance. If Lender required Mortgage Insurance IS a condition of making the Loan, Borrower shall
<br />pay the prcniiums required to maintain the Mortgage Insurance in effect If, for any reason, the Mortgage Insurance coverage
<br />required by Lender ceases to be available from the mortgage insurer than previously provided such insurance and Borrower was
<br />requited m make separately designated payments lnwxrd the premiums for Mortgage Insurance, Borrower shall pay the
<br />premiwns require d to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost
<br />substantially equivalent [o the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage
<br />insurer selected by Lender. it substantially equivalent Mortgage Insurance coverage is not available, Borrower shell continue to
<br />Pa m Leader the amount of the separately designated payments that were due when the insurance coverage ceased to be in
<br />effect. Lender will accept, use and retain these payments as a M¢- refundable loss reserve in lieu of Mortgage lsurance. Such
<br />Inst reserve shall be inn- refundable, notwithstanding the fact that the Loan is ultimately paid is full, and Lender shall not be
<br />required to pay Burrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if
<br />Mortgage Insurance coverage (in the mount and for the period that Lender requires) provided by an insurer selected by Lender
<br />again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage
<br />Insurance. If Lender required Mortgage Insurance az a condition of making the Loan and Burrower was required to make
<br />separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to
<br />maintain Mortgage Insurance in effect, or to provide a non - refundable loss reserve, amil Lender's requirement for Mortgage
<br />insurance ends in accordance with any written agreement between Burrower and Lender providing for such termination or until
<br />termination is required by Applicable Law. Nothing in this Section to affects Borrower's obligation to pay interest at the rate
<br />provided in the Note.
<br />Mortgage Insurance reimburses Leader (or any curdy that purchases the Note) for certain losses it may incur if
<br />Borrower does net repay the Loan as agreed. Borrower is not a parry to the Mortgage Insurance. enter into
<br />Mortgage insurers evaluate their total risk on all such immature in may in force from time to time, y
<br />agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions
<br />that are satisfactory to the mortgage insurer and the other parry (or parries) to these agreements. These agreements may require
<br />the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may
<br />include funds obtained from Mortgage Insurance premiums). an [eiasu[e[, na other emit or
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, y Y y
<br />My affiliate of any of the foregoing, may receive (directly Or indirectly) amounts that derive from (or might he characterized
<br />as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage Reuter's
<br />risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of Mater's risk in exchange for a
<br />share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further.
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or
<br />any other terms of the Loan. Such agreements will not increase the amount Borrower wild owe for Mortgage Insurance,
<br />and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect the rights Borrower has - -iP any —with respect to the Mortgage Insurance
<br />under the Homeowners Protection AM of 1998 or say other law. These rights may include the ri ght to receive certain
<br />disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated
<br />automatically, and /or to receive a refund of any Mortgage Insurance premiums that were mus rned at the time of such
<br />canceldation or termination.
<br />IT. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall
<br />be paid to Leader.
<br />if the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the
<br />restoration or repair is economically feasible and Leader's security is not lessened. During such repair and restoration period,
<br />Lender shall have the right to hold such Miscellaneous Proceeds until Leader has bad an Opportunity to inspect such Property
<br />to ensure the work has been completed to Leader's satisfaction, provided than such inspection shall be undertaken promptly.
<br />Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is
<br />completed. Unless an agrecmem is made in writing or Applicable Law requires interest to be paid on such Miscellaneous
<br />Proceeds, Lender shall non be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the
<br />restoration or repair is not economically feasible Or Lender's security would be lessened, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Security Intiumem, whether or not then due, with the excess, if any, paid eo Borrower.
<br />Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2.
<br />In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied
<br />to the sums secured by this Security Imtrumem, whether or not then due, with the excess, if any, paid to Borrower.
<br />Form 3028 1IQ1
<br />NEBRASKA— Single Family—' —si M10 s",.. Mac UNIFORM INSTRUMENT /1�L ter/
<br />9ankae5yrt,mr lrr_et. Clwtl. MN Fartn M0.lNE elV0000 r£ni4e2 WKr) �— U�/
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