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200805387 V3 tlDCD LOU I 502142852 residence for at least one year after the date of occupancy, unless lender otherwise agrees In writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. PrllUl'V8t1on, Malntllnance and Protection of the Property; Inspections. Borrower shall not destroy, damage or Impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing In the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing In value due to Its condition. Unless it is determined pursuant to Section 5 that repair or restoration Is not economically feasible, Borrower shaH promptly repair the Property if damaged to avoid further deterioration or damage. If Insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only If Lender has released proceeds for such purposes. lender may disburse proceeds for the repairs and restoration In a single payment or In a series of progress payments as the work Is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and Inspections of the Property. If It has reasonable cause, lender may Inspect the Interior of the Improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior Inspection specifying such reasonable cause. 8. Borrower'a Loan Application. Borrower shall be In default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrowlilr's knowledge or consent gave materially false, misleading, or Inaccurate information or statements to Lender (or tailed to provide Lenderwith material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence, 9. Protection of Lender'elntereat In the Property and Rights Under this Security Inetrumenllf (a) Borrower fails to perform the covenants and agreements contained In this Security Instrument, (b) there Is a legal proceeding that might slgnmcantly affect Lender's Interest In the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument orto enforce laws or regulations) , or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever Is reasonable or appropriate to protect Lender's Interest In the Property and rights under this Security Instrument, Including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien 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 board up doors and windows, draln 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 does not 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 actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such Interest, upon notice from Lender to Borrower requesting payment. IIthis Security Instrument Is on a leasehold, Borrower 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 title to the Property, the leallehold and the fee title shall not merge unleSll Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrowershall pay the premiums required to maintain the Mortgage Insurance In effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage Insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equIvalent to the cost to Borrower of the Mortgage Insurance previously In effect, from an alternate mortgage Insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non- refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the tact that the Loan Is ultimately paid in full, and Lender shall not be requlrGd to pay BorrOWer any interest or earnings on such loss reserve. Lender can no longer require loss raserve payments If Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, Is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to malntain Mortgage Insurance In effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends In accordance with any written agreement between Borrower and Lender providing for such termination or until termination Is required by Applicable Law. Nothing In this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses It may Incur If Borrower does not repay the Loan as agreed, Borrower Is not a party to the Mortgage Insurance. Mortgage Insurers evaluate their total risk on all such insurance In force from time to time, and may enter Into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on term II 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 offunds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the note, another Insurer, any reinsurer, any other entity, or affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characteriNd as) a portion of Borrower's payments for Mortgage Insurance, In exchange for sharing or modifying the mortgage Insurer's risk, or reducing losses. If such agreement providGd that an affiliate of Lender takes a share of the inllU r's NEBRASKA-Single fwly-Fennla Mell/Fraddla M"" UNIFORM INSTRUMENT Form 30281/01 @ 1999-2007 Online Doc:umenta, Inc. Page 5 of !it Initialllll i i I ~-I7-{l8" I I I