200707305 - Laserfiche WebLink

Browse

200707305 4500029552 8. Borrower's Loan Application. Burruwer shall be in defaull if, during the Loan application process, Borrower or any persons or entities acting at the direction of Burrower ur with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to providv Lender with material information) in connection with the Loan. Material representations include, but arl~ not limited to, represenLltions concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest ill the Property and Rights Under Ihis Security Instrument. If (a) Borrower fails to perform the covenants and agreements cunt<lined in this Security Instrurnent, (b) there is a legal proceeding that might significantly affect Lender's interest in the Pruperty and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or furlCiture, for enforcement of a lien which Illay attain priority over this Security Instrument or to enforce laws or regulations). or (c) Borrower has ah;lI1dom:d the Property, then Lender may do and pay for whatever is reasonable or appropriate to prutect Lender's interest ill the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and sC'curing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying ,Iny SUlns seeured by a licn which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or boanl up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off Although Lender may take action under this Section 9, Lender docs not have to do so and is not under anv duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender undcr this Section 9 shall bl'colne additional debt of Borrower secured by this Security Instrument. Thcse amounts shall bcar interest at the Note rate fronl the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, 130rrower shall comply with all the provisions of the lease. Borrower shall not surrender the leasehold estate and interests herein conveyed or terminate or cancel the ground lease. Borrower shall not, without the express written consent of Lender, alter or amend the ground lease. If Borrower acquires fee titlc to the Property, the leasehold and the fee title shall not mcrge unless Lender agrees to the rncrger in writing. 10. Mortgage Insurance. If Lender rcquired Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the MOlig:lI:e Insurance in effect. If. for ,lilY rcason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortg:lge insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortga,:e Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance l1l"cvlously in ellect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in elleet, fi'om an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower sl1<l1l continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to he in eHeet. Lender will accept, use and retain these payments as a non-refundable loss reservc in lieu of Mortgage I nsuranee. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultim:ltdy paid in full, and Lellder shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no IOllger require loss reserve- payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selel'lcd hy Lender again becomes available, is obtained, and Lender requires separately designated paymcnts toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan ,Ind Borrower was reqll ired 10 make separatcly designated payments toward the premiums for Mortgage Insurance, Horrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lellder's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termin,llion or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest <lt the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) fi)r certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortg<lge InSllrance. Mortgage insurers evaluate their total risk on all sllch insurancc in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. Thcse agreements arc on teons and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of fimds that the mortgage insurer may have available (which may include funds obtained from MOltgage Insurance premiums). As a result of these agreements, Lendcr, <lny purchaser of the !\:ote, another insurer, any reinsurer, any other entity, or any NEBRASKA-- Single Family --Fannie Mile/Freddie Mac UNIFORM INSTRUME;\IT <&:j) 33R.25 /'{/.!~" (, I!i' / J Form 3028 1/01 &J ~ G.