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<br />V2 waco LOAN i 501154530
<br />residence for at least one year after the date of occupancy, unless Lender otherwise agrees In writing, which ccnsent
<br />shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy,
<br />damage or Impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not
<br />Borrower Is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from
<br />dlilteriorating or decreasing in value due to Its condition. Unless It is determined pursuant to Section 5 that repaIr or
<br />restoration is not economically ftlaslbJe, Borrowlilr shall promptly repair the Property if damaged to avoid further
<br />deterioration or damage. If Insurance or condemnation proceeds are paid in connection with damage to, or the taking
<br />of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released
<br />proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration In a single payment or in
<br />a series of progress payments as the work Is completed. If the insurance or condemnation proceeds are not sufficient
<br />to repair or r9store the Property, Borrower Is not relieved of Borrower's obligation for the completion of such repair or
<br />restoration.
<br />Lender or Its agent may make reasonable entrIes upon and Inspections of the Property. If It has reasonabl9 cause,
<br />Lender may inspect the interior of the Improvements on the Property. Lender shall give Borrower notloe at the time of
<br />or prior to suoh an Interior inspection specifying suoh r9asonable cause.
<br />8. Borrower's Loan Applloatlon. Borrower shall be in default if, during the Loan application process, Borrower
<br />or any persons or entities acting at the dlreotion of Borrower or with Borrower's knowledge or conllent gave materially
<br />faille, misleading, orlnaccurate Infonnation or statements to Lend9r (orfalledto provide Lender with materiallntormation)
<br />in connection with the Loan. Material representations Include, but are not limited to, representations concerning
<br />Borrower's oocupancy of the Property as Borrower's principal residence.
<br />9. Proteotlon of lDnder's Interest In the Property and Rights Under this Security Instrument. If (a) Borrower
<br />falls to perform the covenants and agreements contained In this Security Instrument, (b) there Is a 199al proceeding that
<br />might slgniftcantly affect Lender's interest In the Property and/or rights under this Security Instrument (such as a
<br />proceeding In bankruptcy, probate, tor condemnation or forfeiture, tor enforcement of a lIen whloh may attain priority
<br />overthls Security Instrument orto enforce laws orregulatlons), or (c) Borrower has abandoned the Property, then Lender
<br />may do and pay for whatever is reasonable or appropriate to protect Lender's Interest in the Property and rights under
<br />this Security Instrument, Including protecting and/or assessing the value of the Property, and securing and/or repairing
<br />the Property. Lender's aotlons can include, but are not limited to; (a) paying any sums secured by a lien which has priority
<br />over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect Its Interest In
<br />the Property and/or rights under this Security Instrument, Including its secured position In a bankruptoy proceeding.
<br />Securing the Property includes, but is not limited to, entering th9 Prop9rty to make repairs, change locks, replace or
<br />board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous
<br />conditions, end 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
<br />any or all actions authorized under this Seotlon 9.
<br />Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this
<br />Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be
<br />payable, with such Interest, upon notice from Lenderto Borrower requesting payment.
<br />If this Security Instrumentls on a leasehold, Borrower shall oomply with all the provisions ofthe lease. Borrower shall
<br />not surrender the leasehold estate and interests herein conveyed ortennlnate orcancel the ground lease. Borrowershall
<br />not, without the express written consent of Lender, alt9r or amend the ground lease. If Borrower acquires fee title to the
<br />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 Insuranoe as a oondltlon of making the Loan, Borrower shall
<br />pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insuranoe
<br />coverage required by Lender ceases to b9 avallabiefrom the mortgage insurer that previously provided such Insurance
<br />and Borrower was required to make separately designated payments toward the premiums tor Mortgage Insurance,
<br />Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance
<br />previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in
<br />effect, from an alternate mortgage Insurer selected by Lender. If substantially equlvaient Mortgage Insurance coverage
<br />is not available, Borrower shall continue to pay to Lender the amount ofthe separately designated payments that were
<br />due when the Insurance coverage ceased to be In effect. Lender will accept, use and retain these payments as a non-
<br />refundable loss reserve In lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the
<br />fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any Interest or earnings on
<br />suoh loss reserve. Lender oan no longer require loss reserve payments if Mortgag!ollnsurance coverage On the amount
<br />and forthe period that Lender requires) provided by an insurer selected by Lender again becomes available, Is obtained,
<br />and lender requires separat!olly designated payments toward the premiums for Mortgage Insurance. If lender required
<br />Mortgage insurance as a condition of making the Loan and Borrower was required to make separately designated
<br />payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain
<br />Mortgage Insurance In effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage
<br />Insu rance ends In accordan ce with any written agreement between Borrower and Lender providing for such termination
<br />or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay Interest
<br />at th9 rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may Inour 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 "nter Into
<br />agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and
<br />conditions that are satisfactory to the mortgage insurer and tha other party (or parties) to these agreements. These
<br />agreements may require the mortgage insurer to make payments using any source offunds that the mortgage Insurer
<br />may have available (which may include funds obtained from Mortgage Insurance premiums).
<br />As a result of these agreements, Lender, any purchaser of the note, another Insurer, any reinsurer, any other entity,
<br />or affiliate of any of the foregoing, may rec91ve (directly or indirectly) amounts that derive from (ormlghtbe characterized
<br />as) a portion of Borrower's payments for Mortgage Insurance, In exchange for sharing or modifying the mortgage
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<br />NEBRASKA-Slngl.. Famlly-FlInnle Maa/Fraddl.. Mile UNIFORM INSTRUMENT Form 3028 '/0' InitiilJ.s:
<br />@ j 999-2004 Online Documents, Inc. Page 5 of g NEEDEED 02
<br />08-18-2006 10.21
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<br />200607504
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