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2oosos2ss
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, danrage or
<br />impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in
<br />the Properly, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value
<br />due to its condition. unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible,
<br />Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or
<br />condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for
<br />repairing or restoring the iroperty only it' Lender has released proceeds far such purposes. I..ender may disburse proceeds for
<br />the repairs and restoration in a single payment or in a series of progress payments as the work is completed. if the insurance or
<br />condemnation ~raceeds are ant sufficient to repair or restore the Property, Borrowerrs not relieved of Borrower's obligation
<br />for Che completron of such repair or restoration.
<br />Lender or its agent. may make reasonable entries upon and inspections of the Property. If it has reasonable cause,
<br />header may inspect the interior of the improvements on toe Property, Lender shall give Borrower notice at the tune of or prior
<br />to such an interior inspection specifying such reasonable cause.
<br />S. Borrower's Loan Appl#cat#op, Borrower shall be in default if, during the Loan application process, Borrower or
<br />any persons or entities acting a[ the direction of Borrower or with Borrower's knowledge or consent gave materially false,
<br />misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) iu
<br />connection with the L~aan. Material representations include, but are not limited to, representations concerning Borrower's
<br />occupancy of the lroperty as Borrower's principal residence.
<br />9. Protection of Lender's Interest #u the Property and Rights Under this Security Instrument. If (a) Borrower fails
<br />[o perform the covenants and agreements contained in this Security Instrument, (b) there is a Legal proceeding that might
<br />significantly affect L,ender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in
<br />bankruptcy, probate, for condemnation or forferture, for enforcement of a lien which may attain priority over this Security
<br />Instrument or [a enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for
<br />whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument,
<br />including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. i.,ender's actions
<br />eau include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security lnstrurnent; (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. Although Lender
<br />may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation t.o 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 amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this
<br />Security Instrument. 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 requesting payment.
<br />If this Security Instrument. is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower
<br />acquires fee title [o the Property, the leasehold and the tee title shall not merge unless Lender agrees to the merger in writing.
<br />10. Mortgage Insurance. if Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall
<br />pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance covorage
<br />required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was
<br />required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the
<br />premiums required to obtain coverage substantially equivalent to the Mortgage insurance previously in effect, a[ 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 [o
<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 anon-refundable loss reserve in lieu of Mortgage insurance. Such
<br />loss reserve shall be non-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 reserve payrrtents if
<br />Mortgage insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender
<br />again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage
<br />Insurance. If Lender required Mortgage Insurance as a condition of making the Iwoan and Borrower was required to make
<br />separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required [o
<br />maintain Mortgage Insurance in effect, or to provide anon-refundable lass reserve, until Lender's requirement for Mortgage
<br />Insurance ends in accordance with any written agreement. between Borrower and Lender providing for such termination or until
<br />termination is required by Applicable Law. Nothing in this Section lp affects Borrower's obligation to pay interest at the rate
<br />provided in the Note.
<br />Mortgage Tnsurance reimburses Lender (or any entity that purchases the Nate) for certain losses it may incur if
<br />$orrower 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 parties that share or modify their risk, or reduce losses. These agreements are op 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 mortgage insurer may have available (which may
<br />include funds obtained from Mortgage Insurance premiums).
<br />As a result of these agreements, 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 lVlortgage 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 termed "captive reinsurance. " Further:
<br />(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or
<br />any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance,
<br />and they will not entitle Borrower to any refund.
<br />(b) Any such agreements w#11 not affect the rights Borrower has--if any--with respect to the Mortgage Insurance
<br />under the Hauaeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain
<br />disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance ternn#uated
<br />automatically, and/or to receive a refund of any Martgage Insurance premiums 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 />It' the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the
<br />restoration or repair is economically feasible and Lender's security is not lessened, During such repair and restoration period,
<br />Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property
<br />to ensure the 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 ttte work is
<br />completed. Unless an agreement is made in writing or Applicable Law requires interest [o he paid on such Miscellaneous
<br />Proceeds, i,ender shall not he required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. if [he
<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 total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied
<br />to the sums secured by this Security instrument, whether or not then due, with the excess, if any, paid to Borrower.
<br />NEBRASKA-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT ~~- /F~rm 3~8' ylp~
<br />Bankers Systems, Inc„ St. Cloud, MN Form Mb-1-NE 8 /1 712 000 (page 4 of 7pages)` I ~l_' '1L I {mil
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