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" 200214029
<br />7. Preservation, Maintenance and Protection of the Property; Inspecfions. Borrower shall not destroy, damage or
<br />unfair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in
<br />the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing is value
<br />due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible,
<br />Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or
<br />condemnation proceeds are paid in connection with damage lo, or the taking of, the Property, Borrower shall be responsible for
<br />repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for
<br />The repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the Insurance or
<br />condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation
<br />for the completion of such repair or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause,
<br />Lender may !aspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior
<br />to such an interior inspection specifying such reasonable cause,
<br />S. Borrower's Loan Application. Burrower shall be in default if, during the Loan application. process, Borrower or
<br />any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false,
<br />misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in
<br />connection with the Loan. Material representations include, but are not limited m, representations concerning Borrower's
<br />occupancy of the Property as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails
<br />to perform the usvonamtS and agreemtents contained in this Security Instrument, (b) there is a l2gal proceeding that might
<br />significantly affect Leader's interest in the Property and /or rights under this Security Inafmment (such as a proceeding in
<br />bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien 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 />whalevcr is reasonable or appropriate to protect Lender's interest !n the Property and rights under this Security Instrument,
<br />including protecting and /or assessing the value of the Property, and securing and /or repairing the Property. Lender's actions
<br />can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b)
<br />appearing in court; and (c) 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 bankruptcy proceeding. Securing the Property includes, but is not
<br />limited to, entering the Property to snake repairs, change locks, replace or board up doors and windows, drain water from
<br />pipes, eliminate building or otter code violations or dangerous conditions, and have utilities turned on or off. Although Lender
<br />may lake action under (his Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is
<br />agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9.
<br />Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this
<br />Security Instrument. These anoums shall bear interest at the Note rate from the date of disbursement and shall be payable, with
<br />such interest, are notice from Leader to Borrower requesting payment.
<br />If this are Instrument is on a leasehold, Dorower shall comply with all the provisions of the lease. If Borrower
<br />acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall
<br />pay the premiums 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 that previously provided such insurance and Borrower was
<br />required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the
<br />premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost
<br />substantially equivalent to tiie cost to Borrower of the Mortgage Insurance previously in effect, front an alternate mortgage
<br />insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue m
<br />pay In Lender 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 non - refundable its reserve in lieu of Mortgage Insurance. Such
<br />!cos ¢sen'e cha!: loo nor. - refundable, tis(wahstaudirg the fact that the Loan is u:dmateiy paid in full, and Leader shall not be
<br />required to pay Borrower any interest or earnings on such loss reserve. lender can no longer require loss reserve payments if
<br />Mortgage In9umilee coverage (in the amount and for like 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 as a condition of snaking the Loan and Borrower 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 offer(, or hi provide a non- refundable loss naive, until Lender's requirement for Mortgage
<br />Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until
<br />termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate
<br />provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases Elie Note) for certain losses it may incur if
<br />Borrower does not repay the Loan as agreed, Borrower is not a party to the Mortgage Insurance.
<br />Mortgage Insurers evaluate their total risk on all such insurance in force from time to time, and may enter into
<br />agreements with other panics that share or modify their risk, or reduce losses. ']'hose agreements are on terms and conditions
<br />that are satisfactory to the mortgage insurer and the other parry (or parties) 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 foods obtained from Mortgage Imil,ance premiums).
<br />As a result of these agreements, Lender, any purchaser of the Note, ;mutter insurer, any reinsure[, any other entity, or
<br />any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized
<br />as) a portion of Borrower's payments for Mortgage Insurance, !u exchange for sharing or modifying the mortgage insurer's
<br />risk, or reducing losses- If such agrcamem provides that an affiliate of Lender takes a share of insurer'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. Stich agreements will not increase the =our t Borrower will owe for Mortgage Insurance,
<br />and they will not entitle Borrower to any refund.
<br />(b) Any such agreements will not affect tine rights Borrower has - -if any - -with respect to the Mortgage Insurance
<br />under the Homeowners Protection Act of 1998 or any other law. These lights may include the ri-bt to receive certain
<br />disclosures, to request and obtain (acceptation of the Mortgage Insurance, to have the Mortgage Tusurance terminated
<br />automatically, and /or to receive a refund of any Mortgage insurance premiums that were unearned at the time of such
<br />cancellation or termination.
<br />11. Assignment of Miscellaneous Proreeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall
<br />be paid ni Leadet.
<br />If tiie Property is damaged, such Miscellaneous Proceeds shall be applied to restoration, or repair of the Property, if the
<br />restoration or repair is ccouomicidly feasible and Lender'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 had an opportunity to inspect such Property
<br />to ciume the work has been completed to lender's satisfaction, provided that 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. I!nless an agreement Is made in writing or Applicable law requires interest In he paid on such Miscellaneous
<br />Procrrds, Lender shall not 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 tasselled, the Miscellaneous Proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then line, with the excess, if any, paid to Borrower
<br />Such Miscellaneous Proceeds shall be applied in [lie order provided for in Section 2.
<br />In die event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall he applied
<br />to the sums secured by this Security lostruniem, whether or not (lien due, with the excess, if any, paid to Borrower. l" 1
<br />NEBRASKA—Single Fanfily— Fannie MaelFreddie Mae UNIFORM INSTRUMENT tl//�o
<br />Form 3025
<br />pamm� 5ynem :,I- 9,. Clou, so from MD -1 sl B11A3000 tl'1"IEa'y Of i NS,)
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