|
<br />200605456
<br />
<br />. Lend~r or !ts agent r:nay make reasonable entries upon and inspect!ons of the Prop~rty. If it ha.s reasonable cause, Lender may
<br />!nspect.the Inte~lor of the Improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior
<br />Inspection specifYing such reasonable cause.
<br />
<br />8. Bor~~wer'~ Loan A~pli~ation. Borrower s~all be in default if, during the Loan application process, Borrower or any
<br />persons or .entltles ~ctlng at the direction of Borrower ~r with Borrower's knowledge or consent gave materially false, misleading or
<br />Inacc~rate Informatl~n or ~tatements to Lender ~o~ failed to provide L~nder with material information) in connection with the Loan.
<br />Matenal ;epr~s~ntatlon.s Include, but are not limited to, representations concerning Borrower's occupancy of the Property as
<br />Borrower s pnnclpal reSidence.
<br />
<br />. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower
<br />f<;llls. ~o perform the cove~~nts and. agreements containe~ in this Security Inst~ument, (b) there is a legal proceeding that might
<br />significantly affect Lend~rs Interes~ In the Property and/or nghts under this Secunty Instrument (such as a proceeding in bankruptcy
<br />probate, for co,:demnatlon or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforc~
<br />laws or. regulations), or (c) Borr~wer ha~ abandoned the Property, then Lender may do and pay for whatever is reasonable or
<br />appropriate to protect Lender's Interest In th.e Property an~, rights under this Security Instrument, including protecting and/or
<br />assessl~g the value of the Property, a~d sec~nng and/~r r.epalnng th~ Prope~y. Lender's actions can include, but are not limited to:
<br />(a) paYing any sums secured by a lien which has pnonty over this Secunty Instrument; (b) appearing in court; and (c) paying
<br />rea~C?na~le attorneys' fees to pr~tect its int~rest in the Prop~rty and/or rights under this Security Instrument, including its secured
<br />position In a bankruptcy proceeding. Secunng the Property Includes, but is not limited to, entering the Property to make repairs,
<br />change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or
<br />dangerous conditiot:ls, and have utilities turned .on or off. Although Lender may take action under this Section 9, Lender does not
<br />have to do so and IS not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all
<br />actions authorized under this Section 9.
<br />
<br />Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security
<br />Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest
<br />upon notice from Lender to Borrower requesting payment. '
<br />
<br />. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee
<br />title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
<br />
<br />10. Mortgage Insllrance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay
<br />the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by
<br />Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make
<br />separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain
<br />coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to
<br />Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially
<br />equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately
<br />designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these
<br />payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable,
<br />notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or
<br />earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount
<br />and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender
<br />requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a
<br />condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for
<br />Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a
<br />non-refundable loss reserve, until the Lender's requirement for Mortgage Insurance ends in accordance with any written agreement
<br />between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this
<br />Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note.
<br />
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does
<br />not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />
<br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with
<br />other parties that share or modify their risk, or re~uce losses. These agreements are on terms and condit!ons that are satis,factory to
<br />the mortgage insurer and the other party (or parties) to these agreements. These a!;1reements may reqUire the mortgage Insurer to
<br />make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from
<br />Mortgage Insurance premiums).
<br />
<br />As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any
<br />affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as ) a portion
<br />of Borrower's payments for Mortgage Insurance, In exchange tor sharing or modifying the mortgage insurer's risk, or reducing
<br />losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the
<br />premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further:
<br />
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
<br />Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for
<br />Mortgage Insurance, and they will not entitle Borrower to any refund.
<br />
<br />(b) Any such agreements will not affect the rights Borrower has. if any. with respect to the Mortgage
<br />Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to
<br />receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage
<br />Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were
<br />unearned at the time of such cancellation or termination.
<br />
<br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and
<br />shall be paid to Lender.
<br />
<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 Lender's security is not lessened. During such repair and restoration period, Lender
<br />shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the
<br />work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for
<br />the repairs and restoration in a single disbursement or in a series of progress payments as the work IS completed. Unless an
<br />agreement is made in writing ?r Applicable L<;Iw requires inte.rest to be paid on such Miscellaneou~ Proceeds: ~ender shall n~t be
<br />required to pay Borrower any Interest or earnings on s~ch Miscellaneous Proceeds. If the, restoration or repair IS not ec~>nomlca!ly
<br />feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Secunty
<br />Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the
<br />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 to the
<br />sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
<br />
<br />NEBRASKA-Slngl.. F..mlly-F..nni.. M..elFreddi.. M..c UNIFORM INSTRUMENT
<br />3028 NE DOT 01/01 PG4
<br />
<br />Form 3028 1/01 (p..ge 4 017 p..g....)
<br />
<br />(J?-f"
<br />
<br />~
<br />
|