201005570 - Laserfiche WebLink

Browse

201005570 ~. Protection of Lcudctr's Iutere~i irr the Property and Rights Under this 5ccurity Instrument. If (a) Bvrrvwer fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal procecdirrg that might significantly affect bundcr's intcrest in the I'rupcrty and/ur rights under this Security Instrument (such as a proceeding in bankruptcy, prvhale, for condemnation or forfeiture, fur enforcerrrenl of a lien which may attain priority over ibis Security Inslrurnenl or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender rrray do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security instrument, including prvlecting and/vr assessing the value of the Properly, and securing and/or repairing the Property. bender's actions can include, but are not tootled to: (a) paying arry surrrs secured by a lien which has priority over this Security lnslrumenl; (b) appearing in court; and (c) paying reasonable attorneys' fees to protceC its intcrest in the Property and/or rights under lttis Security lnstrurrrent, ineauding its secured position in a bankruptcy proceeding. Securing the I'ropcrty includes, but is not lirnitcd tu, entering the Prvpcrty to tnakc repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although 1_ender may lake action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. Il 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 bccornc additional debt of Borrower secured by this Security Instrurncnt. These amounts shall bear interest ttt the Note rate from the date of dishurscrncnt and shall be payable, witty sucll intcrest, upon notice from Lcndcr lu Borrower nyucsling payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the previsions of the lease. If Borrower acquires fee Lille lv the Properly, the leasehold and the fee Lille shall nut merge unless Lender agrees to Che merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of mukin}; l.lle i.nan, Borrower shall pay the premiums reyuired to rrrrrinl.ain the Mortgage ln9e]ranCe in effect. II~, fc.rr arry rcasvn, the Mortgage Insurance coverage reyuired by Lender ceases Lu be available from t.llc mortgage insurer Lllai previously provided such insurance and Borrower was reyuired to crake separately designated payments toward lire premiums for Mortgage insurance, Borrower shall pay the premiums reyuired to obtain cvveragc substantially equivalent to the Mortgage Insurance previously irl effect, at a cost substantially cyuivalcnt 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, Borrvwer shall continue to pay to Lcndcr the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lcndcr will accept, use and retain these payments as anon-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall he nun-refundable, notwithstanding the fact that ttrc Loan is ultimately paid in full, and Lcndcr shall nvl be reyuired to pay Borrower any interest yr earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance crrocragU (in the amount and for the period that Lcndcr requires) provided by an insurer sclee:tcd by bender again becomes available, is obtained, arre! Lcndcr requires separately dcsiguatcd payments Coward tlrc prcrrriurrts for Mortgage Insurance. If Lcndcr rcyuircd Murtga}.;c insurance as a condition of making the boan and Borrower was required to make separately desig,ntrtcd payments toward the: premiums for Mortgage Insurance, Burrower shall pay the premiums rcyuircd to maintain Mortgage Insurance in effect, or to provide anon-refundable loss reserve, until l.cuder's requirement for Mortgage Insurance ends in accordance with any written agreement. between I,3orrower and bender providing fvr such termination or until tcr-nirratiorr is rcyuircd by Applicable Law. Nothing in this Section 10 affects Bvrrvwcr's obligation to pay interest at the rate provided in the Notc. Mortgage Insurance reimburses Lcndcr (or any entity that purchases the Nole) for certain losses it rosy incur if Borrower does not repay the boan as agreed. Borrower is not a party Cv the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from lime to time, and may enter into agreements with ollrer parties that share or modify their risk, or reduce losses, These asrecrncnts arc on terms and conditions that arc satisfactory to the mortgage insurer and the ether party (or parties) to these agreements. 'These agreements rosy require the mortgage insurer to make payments using any source of funds that the mortgage insurer rosy have available: (which may include funds obtained from Mortgage insurance premiums). NEBRASKA -Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT JM'• C -B{NE) lost t I r=ape tr or t 5 ~ruma~s': r~ 1 ~~~. Form 3028 1 I01