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., , \ OJ ~ l 2'~,~ _, "' 200901390 7. Preservation Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, all~w the Property to dcteriorate or commit waste on the Property. Whether. or ~ot Borrower i~ residing in the Property, Borrower shall maintain the Property in order to prevent the Prol?erty from d~ten~ratmg or decr~asillg ill v.alue due to its condition. Unless it is determined pursuant to SectiOn 5 that repair or restoratIOn IS not economically feasible, Borrower shall promptly repair the Property if damaged to avoid furt~er deterioration or damage. If insura?ce ,or condenmation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower sha.ll be responsible ~or repairing or restoring the Property only if Lender has released proceeds for such purposes. L~nder may disburse I?roceeds 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 thc completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of .the Property. If. it has rea.sonabl.e cau~c, Lendcr may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or pnor to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, 8(;lffOWer or any persons or entities acting at the direction of Borrower or with B~rrower's kn?wledge or e(~nsent ga,:,e ~atenall~ fals~, misleading, or inaccurate information or statements to Lender (or failed to proVide Lender With matenal mformatlon) 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 I.lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeinlre, for enforcement of a lien which may attain priority over this Security Instrument or to 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, drain water from pipcs, eliminate building or other codc 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 disburscd 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 ratc from the date of disbursement and shall be payable, with such interest, upon noticc from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall 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 insurcr selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the scparately 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 fact that -the Loan is ultimately paid in full, and Lender shall not be rcquired to pay Borrower any interest or earnings on such loss rcserve. Ltmder can no longer require loss reserve 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 maintain 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 SHch 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 terms 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 funds 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 any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized 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 provides that an affiliate of Lender takes a share of insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has-.if any.-with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous llroceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property if the restoration or repair is ~conomically feasibl.e and Lender's security i~ not lessened. During such repair and restoration period, Lender shall have the nght to hold such Miscellaneous 'p~oc~eds unlll.Lender has ha~ an op.portunity to inspect such Property to ensure the work has been completed to Lender's satlsfactlOn, proVided that such mspectlOn shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is ?lade in writing or Applica.ble Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be reqUIred to pay Borrower any Intcrest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lcnder's security would be lessened, the Miscellaneous Proceeds shall be ~pplied .to the sums secured by this Secu~ity. Instrument, wh~ther.or .not th~n due, with the excess, if any, paid to Borrower. Such Mlscellaneolls Proceeds shall be apphed ill the order proVided for In SectiOn 2. In the event of a ~otal ta~ing, destruction, or loss in value of the l~roperty, the Miscellaneous Proceeds shall be applied to the sums secured by thiS Secunty Instrument, whether or not then due, with the excess, if any, paid to Borrower. NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT , Form 3~~/<71 Sankers System.. Inc., St. Cloud. MN Form MO-l-NE SI17/2000 (page 4 of 7 pages) G (J ( ( ~......-/ ""