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<br /> 20tOO7225
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<br /> Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if
<br /> damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in
<br /> connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or
<br /> restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds
<br /> for the repairs and restoration in a single payment or in a series of progress payments as the work is
<br /> completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property,
<br /> Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration.
<br /> Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable
<br /> cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower
<br /> notice at the time 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 acting at the direction of Borrower or with Borrower's knowledge or
<br /> consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to
<br /> provide Lender with material information) in connection with the Loan. Material representations include, but
<br /> are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal
<br /> residence.
<br /> 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a)
<br /> Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a
<br /> legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this
<br /> Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for
<br /> enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or
<br /> regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is
<br /> 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.
<br /> Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority
<br /> over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its
<br /> interest in the Property and/or rights under this Security Instrument, including its secured position in a
<br /> bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make
<br /> 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 utilities turned on or off. Although Lender may take
<br /> action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It
<br /> is 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
<br /> by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement
<br /> and shall be payable, with 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
<br /> Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees
<br /> to the merger in writing.
<br /> 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan,
<br /> Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the
<br /> Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that
<br /> previously provided such insurance and Borrower was required to make separately designated payments
<br /> toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage
<br /> substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the
<br /> cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected
<br /> by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue
<br /> to pay to Lender the amount of the separately designated payments that were due when the insurance coverage
<br /> ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in
<br /> lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan
<br /> is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such
<br /> loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the
<br /> amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes
<br /> 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 Loan and Borrower was
<br /> required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall
<br /> NEBRASKA- Single Family - Fannie Mae/FreddieMac UNIFORM INSTRUMENT
<br /> Form 30281/09
<br /> Laser Forms Inc. (800) 448-3555 - J
<br /> LFI#FNMA3028 4/02 Page7 of 13 Initials: r
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