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200303497
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Last modified
10/15/2011 7:00:59 PM
Creation date
10/21/2005 4:34:15 PM
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DEEDS
Inst Number
200303497
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200303497 <br />then Lender may do, and pay for, anything necessary to protect de Property's value and Lender's rights <br />in the Property. Lender may pay any sums secured by a lien that has priority over this Security <br />Instrument or any advance under the Now or this Security Instrument. Tender may appear in court and <br />pay reasonable attorneys' fees. Lender may pay any sums Borrower is required to pay under this Security <br />Instrument. Lender may enter on the Property to make repairs or to secure the Property. Securing the <br />Property includes, but is not limited to, entering the Properly to make repairs, change locks, replace or <br />board up doors and windows, drain water from pipes, eliminate building or other code violations or <br />dangerous conditions, and have utilities turned on or off. Although Lender may take action under this <br />Section 7, Lender does not have to do so and is not under any duty or obligation to do so. Borrower <br />agrees drat Lender incurs no liability for not taking any or all actions authorized under this Section 7. <br />Any amounts disbursed by Lender under this Section 7 shall become additional debt of Borrower <br />secured by this Security Instrument. These amounts shall bear interest at de Note rate from the date of <br />disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting <br />payment <br />If Lender required Mortgage Insurance as a condition of making the loan secured by this Security <br />Instrument, But shall pay the premiums for such insurance until such time as the requirement for the <br />insurance terminates. <br />S. Inspection. Lender or its agent may make reasonable entries upon and inspections of the <br />Property. If Lender has reasonable cause, Lender may inspect the interior of the improvements on the <br />Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection <br />specifying such reasonable cause. <br />9. Assignments of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby <br />assigned to and shall be paid to Lender. <br />If the Property is damaged, and subject to the rights of any Person with a superior Lien on the <br />Property, the Lender shall apply the Miscellaneous Proceeds to restore or repair the Property, if the <br />restoration or repair is economically feasible and Lender's security is not lessened. During such repair and <br />restoration period, Lender shall have the right to hold the Miscellaneous Proceeds until Lender has had an <br />opportunity to inspect tls Property to ensure the work has been completed to Lender's satisfaction. <br />Lender shall promptly undertake any such inspection. Lender may pay for the repairs and restoration in a <br />single disbursement or in a series of progress payments as the work is completed. Unless an agreement is <br />made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender <br />shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. Subject to <br />the rights of any Person with a superior Lien on the Property, if the restoration or repair is not <br />economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall he applied <br />to Ibe sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to <br />Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. <br />lu the event of a partial or total taking, destruction, or loss in value of the Property, the <br />Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not <br />then due, with the excess, if any, paid to Borrower. <br />If Borrower abandons the Properly, or if, after notice by Lender to Borrower that the Opposing Party <br />(as defined in the next sentence) others to make an award to settle a claim for damages, Borrower fails to <br />respond to Lender within 30 days after the date tire notice is given, Lender is authorized to collect and <br />apply the Miscellaneous Proceeds either to restore or repair the Properly or to pay the sums secured by <br />this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes <br />Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to <br />Miscellaneous Proceeds. <br />eo„owe, mwai: <br />�.� <br />GMD Nebraska Junior Lie. DOT - HC Porm 33703:1 05/17/02 (page 7 of 13 pages) <br />
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