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<br />200901393 <br /> <br />, . 7. Preservation, Maintenance and Pr~tection of the ,Propel1y; Inspections. Borrower shall not destroy, damage or <br />llllpau the Property, allow the Pr.ope,rty to deteflorat~ or C0I11l11lt waste on the Property. Whether or not Borrower is residing in <br />the Pro~erty, B~J~rower shall l.na~ntalll the. Property III order to prevent the Property from deteriorating or decreasing in value <br />due to Its conditIOn. Unless It IS deternllned pursuant 1.0 Section 5 that repair or restoration is not economically feasible, <br />Horrower . shall promptly repai.r the Pn!perty, if damaged to avoid, further deterioration or damage_ If insurance or <br />condemnatLOn proceeds are paid III connection with damage to, or the taklllg of, the Property, Horrower shall be responsible for <br />repairin,!? or restoring t:he r:rope~ty only if Lender. has rc~ease~ proceeds for such purposes. Lender may disburse proceeds for <br />the repam,and restoratIOn 111 a slll~I_~ paymentor.lll a senes of progress payments as the work is completed. If the insurance or <br />condemnation proceeds are not suffiCient to repaIr or restore the Property, Borrower is not relieved of Borrower's obligation <br />for the completion of such repair or restoration. <br />Lender or its agent may make reasonable entries upon and inspections of the Properly. If it has reasonable cause, <br />Lender may in~pee,t the i~lCrior (~f t~e improvements on the Property. Lender shall give Borrower notice at the time of or prior <br />to such an lllteflor lllspectLOn speclfymg such reasonable cause. <br />S. Bon"owe~~s Loa~ Applicati(:m.~orro:ver shall be in ~efault if, during the Loan application process, Borrower or <br />any per.sons or ~ntltles act~n~ at t~e dIrectIOn of Borrower or WIth ~~rrower's kn~wledge or consent gave materially false, <br />llllsleadlllg, or lIlaeeurate IllformatlOn or staternents to Lender (or failed to proVIde Lender with material infoonation) in <br />connection :vith the Loan. Material repr~sel~tations. include, but arc not Iilllited to, representations concerning Borrower's <br />occupancy of the Property as Borrower's pnnclpal reSIdence. <br />9. PI"otection of Lender's Interest in the Property and Rights Under this Security Instmment. If (a) Borrower fails <br />((,J p'e~form the covenants ~n~ agree~ents contained in this S~curity InstrUl~ent, (b ~ there is a legal proceeding that might <br />_ siglllfl~antly aHeet. I.ender s .lIlterest III the Property and/or nghts under thIS Secunty Instrument (such at( a proceeding in <br />-, . -- -bankruptcy, probate, for condemnation ~)r forfeiture, for enforcement of a lien which may attain priority over this Security <br />InstrUlllent or to enforce laws or regulatLOns), or (c) Borrower has abandoned the Property, then Lender may do and pay for <br />whatever is rcasonable or appropriate to protect Lender's interest in the Property and rights under this Security InstrUlllent, <br />including protecting and/or assessing the value of the Property, and securing and/or repairing the Property_ Lender's actions <br />can include, but arc not limited to: (a) paying any SUlns secured by a lien which has priority over this Security Instrument; (b) <br />appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this <br />Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not <br />limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from <br />pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Allhough Lender <br />lllay take action under this Section 9, Lender docs not have to do so and is not under any duty or obligation to do so. It is <br />agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. <br />Any alllllunts disbursed by Lender under Ihis Section I} shall beeOllle additional debt of Borrower secured by Ihis <br />Security InstrUlnent. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with <br />such interest, upon notice from Lender to Borrower requcsting payment. <br />If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower <br />acquires fce title to the Property, the leasehold and the fee tiUe shall not merge unless Lender agrees to the merger in writing. <br />10. M0l1gage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall <br />pay the premiUllls required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage <br />required by I.ender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was <br />required 10 make separately designated payments toward the premiUllls for Mortgage Insurance, Borrower shall pay the <br />premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost <br />substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage <br />insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to <br />pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in <br />effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such <br />loss reserve shall be nUll-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be <br />required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reservc paynlents if <br />Mortgage lnsurance covcrage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender <br />again becomes available, is obtained, and I.ender requires separately designated payments toward the premiUllls for Mortgage <br />Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make <br />separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiUlns required to <br />maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage <br />Insurance ends in accordance with any written agreement between Borrower and Lender providing for such tellnination or until <br />tennination is requircd by Applicable Law. Nothing in this S.eetion 10 affects Borrower's obligation tllpayinterest at the rate <br />provided in the Note. <br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it rnay incur 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 enter into <br />agreements with other parries that share or modify their risk, or reduce losses. These agreements are on terms and conditions <br />that arc satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require <br />the mortgage insurer to make payments using any source of funds that the Inongage insurer may have available (which may <br />include funds oblained from Mortgage Insurance premiums). <br />As a result of these agreemcnts, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or <br />any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized <br />as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's <br />risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of insurer's risk in exchange for a <br />share of the premiums paid to the insurer, the arrangement is often teffilcd "captive reinsurance." Further: <br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mm1gage Insurance, or <br />any other terms of the Loan, Such agreements will not increase the amount Borrower will owe 1'01" Mortgage Insurance, <br />and they will not entitle BOl"l"ower to any refund. <br />(b) Any such agreements will not affect the rights Borrower has--if any..with l'espect to the Mortgage Insurance <br />under the Homeowners Protection Act of 1998 or any other law, These rights may include the light to receive certain <br />discIosures~ to i"eqlJesrand -obtain cam~eUation 01' the Mortgage Insul"ance, to have the Mm1gage Insul"ance terminated <br />automatically, anel/m" to receive a refund of any Mm1gage Insurance plemiums that were unearned at the time of such <br />cancellation or termination, <br />11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall <br />be paid to Lender. .., . _ , _ <br />If the Property is damaged, such Miscellaneous Proceeds shall be apphed to restoratIon or rep~lr oj the Prop.erty, If, the <br />restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration penod, <br />L.ender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property <br />to ensure Ihe work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. <br />Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is <br />complercd. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous <br />Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous. Proceeds. If the <br />restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be <br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. <br />Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. <br />In the event of a lotal taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be <br />to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. <br />Form <br /> <br />(pf1!1P 4 of 7 paR"") A IVl <br /> <br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT <br /> <br /> <br />flankers Systems, Inc_. St. Cloud, MN Form MD-l-NE 8117/2000 <br /> <br />" , <br /> <br />.. i ., <br /> <br />, <br />