|
~0o~o4~s~
<br />are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the
<br />Property or to pay amounts unpaid under the Nale ar this Security Instrument, whether or not then due.
<br />6. Occupancy. $orrower shall occupy, establish, and use the Property as Borrower's principal residence
<br />within 60 days after the execution of this Security Cnstrument and shall continue to occupy the Property as Borrower's
<br />principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which
<br />consent shall not be unreasonably withheld, nr unless extenuating circumstances exist which are beyond Borcower's
<br />control.
<br />7. Preservation, Maintenance and Protection of the Properly: Inspections. $orrower shall not destroy,
<br />damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not
<br />$orrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from
<br />deteriorating or decreasing In value due to tts condition. Unless it is determined pursuant to Section 5 that repair or
<br />restoration is not economically feasible, Borrower 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 far 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 restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repay
<br />or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause,
<br />Lender may inspect the interior of the Improvements on the Property. Lender shall give Borrower notice at the time
<br />of or prior to such an interior inspection specifying such reasonable cause.
<br />8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process,
<br />Borrower or any persons or entities acing at the direction of $orrower or with Borrower's knowledge or consent gave
<br />materially false, misleading, nr inaccurate information ar statements to Lender (or failed to provide Lender with
<br />material information) in connection with the Loan. Material representations include, but are not limited to,
<br />representations concerning Borrower's occupancy of the Property as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights [Trader this Security instrument. If (a)
<br />Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal
<br />proceeding that might significantly affect Lender's Interest in the Property and/or rights under this Security Instrument
<br />(such as a proceeding in bankruplry, probate, for condemnation or forfeiture, far enforcement of a lien which may
<br />attain priority over this Security Instrument nr to enforce laws or regulations), ar (c) $orrower has abandoned the
<br />Property, then Lender may do and pay For whatever is reasonable or appropriate to protect Lender's interest in the
<br />Properly and rights under this Security Ir-stroment, including protecting and/or assessing the value of the Property,
<br />and securing and/or repairing the Property. Lender's anions can include, but are not limited to: (a) paying any sums
<br />secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable
<br />attorneys' Fees to prmect its Interest in the Property and/or rights under this Security Instrument, including its secured
<br />position In a bankruptcy proceeding. Securing the Property includes, but Is not limited tq, entering the Properly to
<br />make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or
<br />other code violations or dangerous conditions, and have udlides turned on or off. Although Lender may take action
<br />under this Section 9, Lender does not Gave to do so and is not under any duty or obligation to do so. It is agreed that
<br />Lender incurs no liability for not taking any or all actions authorized under this Section 9.
<br />Any amounts disbursed by Lender under this Section 9 sha116ecome additional debt of $orrower secured by this
<br />Sectirity Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall 6e
<br />payable, with such interest, upon notice from Lender to $orrower requesting payment.
<br />If this Security instrument is on a leasehold, Borrower shall comply with all the provisions of the lease.
<br />Borrower shall not surrenderthe leasehold estate and interests herein conveyed or terminate or cancel the ground lease.
<br />Borrower shall not, without the express written consent of Lender, alter or amend the ground lease. if $orrower
<br />acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger
<br />in writing.
<br />10. Mortgage insurance. If Lender required Mortgage Insurance as a condltlon of making the Loan, $orrower
<br />shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage
<br />Insurance coverage required by Lender ceases to 6e available from the mortgage insurer that previously provided such
<br />Insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage
<br />Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage
<br />Insurance previously in effect, at a cost substantially equivalent to the cost to $orrower of the Mortgage Insurance
<br />previously in effect, from an alternate mortgage insurer selected by Lender. if substantially equivalent Mortgage
<br />Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated
<br />payments that were due when the insurance coverage ceased to be In effect, Lender will accept, use and retain these
<br />payments as anon-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall benon-refundable,
<br />notwlthstanding the fact that the Loan is ultimately paid In full, and Lender shall not be required to pay Borrower any
<br />interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance
<br />coverage (in the amount and far the period that Lender requires) provided by an insurer selected 6y Lender again
<br />becomes available, Is obtained, and Lender requires separately designated payments [award the premiums far
<br />Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and $orrower was
<br />required to make separately designated payments toward the premiums far Mortgage Insurance, Borrower shall pay
<br />the premiums required to maintain Mortgage Insurance In effect, or to provide anon-refundable loss reserve, until
<br />Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between $orrower and
<br />NEBRASKA--Single Family--Fannin MaelFreddie Mac UNIFORM INSTRUMENT DrxMaylrQR?.~rr:1s son-s~saasz `' ~~
<br />Form 3028 1/D1 Page 5 of 11 wwW.doCmag/c.cam ~(
<br />Ne3D26.do~.zm1
<br />
|