201007663 - Laserfiche WebLink

Browse

2olou�s�3 9. Proteetion of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perforxn the covenants and agreements contained in this Security Instrument, (b) there is a lega] proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation pr forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or re�ulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriatc; to pratect Lender' s interest in the Property and rights under this Security Instrument, including protectinb and/or assessing thc value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to; (a) paying any sums secured by a]ien. which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable att.orneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up daors and windows, drain water from pipes, eliminate huilding or other code violations or dangerous conditions, and have utilities turned on or off. Although I,ender may take action und�r this Section 9, Lender does not have to do so and is not under any duty ar obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounCs disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Barrower requestin� payment. If this Securiry lnstrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower sl�all pay the premiums required to rnaintain the Mortgage lnsurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required ta make separaCely designated payments toward the premiurns for Mortgage Insurance, Borrower shal] pay the premiums required t.o obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to 13orrower of the Mortgage Insurance previously in effect, fram an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not. available, Borrpwer shall continue to pay to Lender the amount of the separately designated payments that. were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. 5uch loss reserve shal] be non-ref'undable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can nn longer ret�uire loss reserve payments if Mortgage lnsurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender agazn becomes available, is obtained, and Lender requires separately designated payrnents toward the premiums for Mortgage lnsurance. If Lender required Mortgage Insurance as a condition of xnaking tlae Loan and Sarrower was required to make separately desi�nated payrnents toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrowex and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 a£fects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it. rnay incur if Borrawer does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mprtgage insurers evaluate their total risk on all such insurance in force fram tirne to time, and may enter into agreements with other parties that share ar rnodify their risk, or reduce losses. These agr�ements are 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 any source of funds that the znartgage insurer may have available (which may include funds obtained from Mortgage lnsurance premiums). 10-09-000018 NEBRASKA - Single Family - Fannie MaelFreddie Mac UNIFORM INSTRUMENT �L �-6(NE) �aeii� PageB of 15 Init�ais: IJ Form 3028 1101 �