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<br />200602950
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<br />If Borrower abandons the Property, Lender may file, ncgotiate and settle any available insurance claim and related
<br />matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a
<br />claim, then Lcndcr may negotiate and scttlc thc claim. TIle 30-day period will begin when the notice is givcn. In either event,
<br />or if Lender acquircs thc Property under Section 21 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to
<br />any insurance procecds in an amount lIot to exceed thc amounts unpaid under the Note or tins Security Instrument, and
<br />(b) any other of Borrowcr's rights (other than the right to any refund of unearned prennums paid by Borrower) under all
<br />insurance policies covering the Property, insofar as sllch lighL~ arc applicable to the coverage of the Property. Lender may use
<br />the insurancc procccds either to rcpair or rcstorc the Property or to pay amounts unpaid under the Note or this Security
<br />Instrument, whether or not then due.
<br />6. 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 wastc on the Property. Whether or not Borrower is residing in
<br />the Property, Borrower shall maintain the Property in ordcr to prevent the Property from deteriorating or decreasing in value
<br />due to its condition. Unless it is detennined pursuant to Scction 5 that repair or restoration is not economically feasible,
<br />Borrower shall promptly repair the Property if damaged to avoid further deterioration or damagc. If insurance or condcmnation
<br />proceeds are paid in connection with damage to, or tile taking of, the Property, Borrower shall bc responsible for rcpairing or
<br />restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse procccds for the repairs
<br />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, Lender
<br />may inspect the interior of the improvements on the Property. Lcndcr shall givc Borrower noticc at the time of or prior to such
<br />an interior inspection specifying such reasonable cause.
<br />7. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or
<br />any pcrsons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false,
<br />nnsleading, or inaccurate information or statements to Lender (or failed to provide Lender with matcrial information) in
<br />conncction with the Loan. Material representations include, but are not limited to, representations concerning Borrower's
<br />occupancy of the Property as Borrower's principal residence.
<br />8. Protection of Lender's Interest in the Property and Rights Under this Security Instrument.lf (a) Borrower fails
<br />to perform the covenants and agreements contained in this Security Instrument, (b) thcre is a lcgal proceeding that might
<br />significantly affect Lender's interest in the Property and/or rights under this Security Instnnnent (such as a proceeding in
<br />bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which has or may attain priority over this Security
<br />Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, thcn Lendcr may do and pay for
<br />whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Tnstnllnent,
<br />including protecting antVor assessing the value of the Property, and sccuring and/or repairing the Property. Lender's actions can
<br />include, but are not limited to: (a) paying any sums secured by a lien which has or may attain priority over this Security
<br />Instrument; (b) appearing in court; and (c) paying rea~onable attorneys' fees to protect its interest in the Property and/or rights
<br />under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is
<br />not limited to, entering thc Property to make repairs, changc locks, replace or board up doors and windows, drain water from
<br />pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender
<br />may take action under this Section 8, Lender does not have to do so and is not under any duty or obligation to do so. It is agrced
<br />that Lender incllrs no liability for not taking any or all actions authorized under this Section 8.
<br />Any amounts disbursed by Lender under this Section 8 shall become additional debt of Borrower secured by this Sccurity
<br />Instrument if al10wed under Applicable Law. These amounts shall bcar interest at the Note rate from the date of disbursement
<br />and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment.
<br />If this Security Instrument is on a leasehold, Borrower 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 />9. Mortgage Insurance. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain
<br />losses it may incur if Borrowcr does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />If Lender requircd Mortgage Insurancc a~ a condition of making the Loan, Borrower shall pay the premiums required to
<br />maintain the Mortgage Insurance in effect.
<br />10. Assignment of Miscellaneous Proceeds; Forfeiture. The Miscellaneous Proceeds of any award or claim for
<br />damages, direct or consequential. in connection with any condemnation or other taking of the Property, or part thereof, or for
<br />conveyancc in lieu of condemnation, are hereby assigned and shall be paid to Lcnder, subject to the terms of any mortgage,
<br />deed of trust or othcr sccurity agrccment with a lien which has priority over this Security Instrument.
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<br />NEBRASKA DEED OI? TRUST-Single f'amily-Seeondary Lien
<br />THE COMPLIANCE SOURCE, INC. <C D I l j
<br />ITEM 8627L6 (0304}--MERS MFNE3118 (Page 6 rl J I pages) ~
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<br />400071f\?3Q . GREATLAND.
<br />To rrnJ., Ciff'"1.Sbo.530.9393 0 Fax: 616.791-1131
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