201007141 - Laserfiche WebLink

Browse

201007141 9. Protection of Leader's Interest is the Property and RigLb Under this Secarity Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal procetding that might significantly affect Lender's interest in the Properly and/or rights user this Security Instrumtnt (such as a proceeding in bariltruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Iiosbnrmtnt ar to enforce laws or regulations), ar (c) Borrower has abandantd the Property, thtn Cruder may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights antler this Security Instrument, including protecting and/or assessiag the value of the Property, and securing and/or repaixing 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 I~trument; (b) appearing in court and (c) paying reasonable attorneys' fees W protect its interest in the Property and/or rights under this Security Instrument, including its sectirtd position in a bankruptry proceeding. Securing the Property includes, but is not limited to, entering the Proptriy to make 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 an or off. Although Lender may take action user this Section 9, Lender does not have to do so and is not under any duty ar obligation W do so. It is agreed that Lender incurs m liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall bccomt additional debt of Borrower secured by this Sechtrity Instru,ancnt. These amounts shall bear interest at the Note raft from the daft of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is an a leasehold, Borrower shall comply with all the provisions of the least. If Borrower acquires fee title to the Property, the leasehold and the ftt title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insnr'anae. If Lender required Mortgage Ins~uaucc as a condition of making the Laau, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, tot Mortgage Insurance coverage required by Lender oases m be avaihrble from t~ mortgage insurer that previously provided such insurance and Borrower was required to make separately dcsignattd payments toward the premiums far Mortgage Insurance, Borrower shall pay the premiums required to obtain caveragt substantially aquivaltnt to the Mortgagt 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 insurer seltcttd by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall wntinue to pay to Lender the amount of the separately designated payments that were due when the insura~e coverage ctastd to be in effect. Letxlcr will accxpt, use a~ retain these paYmtnts as a non-refiau~dable loss reserve in lieu of Mortgage Insurance. Such loss restrvt shall be non-refundable, notwithstarding the fact that the Laan is ultlmadely paid in full, and Lender shall not bt required to pay Borrower any interest or earnings on such loss reserve. Lender 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 Letxler 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 tin: premiwns for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non refundable lass reserve, until Lender's requirement for Mortgage Insurance tads in accordance with any written agreement between Borrower and Cruder providing for such tcntplrration or until termination is required by Applicable Law. Nothing in this Section 10 affects $orrower's obligation to pay interest at the rate provided in the Nate. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) far certain lasers it may incur if Borrower data 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 farce from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements arc 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 arty source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiuws). NEBRASKA -Single Family - Fs~r~nN MastFreddis Meg UNIFORM tNSTFtUMFa1T ~~INE) roes ~ ~ P.c~ a ~r i s i~re.r: Form 3028 1 /07