201007709 - Laserfiche WebLink

Browse

�O10U�70� 9. Protection of Lender's �nterest in the Property and Rights Under this Security Instrument. if (a) Borrower fails to perform the covenants and a�reements contained in this Security Instrument, (b) there is a legal 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 or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Bocrower has abandaned the Property, then Lender may da and pay for whatever is reasonable or appropriate to protect Lender' s interest in the Property and rights under this Security Instrument, including protecting and/or assessing the 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 lien which has priority over this Security Instrument; (b) appearing in court; and (c) payin� reasonable attvrneys' fees to protect. its interest in the Property and/or rights under this Security Instrument, including its secured pasition in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property ta make repairs, change locks, replace or board up doors and windows, drain water frorn pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on ar of£ Aithaugh Lender may take action undex this Section 9, Lender does not have to do so and is not under any duty or 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 amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrum�nt. These amounts shall bear intereat at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower,requesting payment. If this Security Instrument 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. ]0. Mortgage Insurance. If Lender required Mortgage �nsurance as a condition of making the Loan, Borrower shall 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 nnortgage insurer that previously provided such insurance and Borrower was required to malce separately designated payments toward the premiums for Iviortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mort�age Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage insurance previously in effect, frozn an alternate mortgage insurer �elected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower 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. L�nder will accept, use and retain th�se payments as a non-refundable lpss reserve in lieu of Mortgage lnsurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender sha11 not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer requir� 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 Lender requires saparately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Tnsurance as a condition of malcing the Loan and Sorrower was required to make separately designated payments toward the premiums for Mprtgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender' s requirernent far Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower' s obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (oz any entity that purchases the Note) for certain losses it may incur if Sarrower does not repay the loan as agreed. Barrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to tixne, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory ta the mprt�age insurer and the other party (or parties) to these agreements. These agreernents may require the mortgage insurer to make payments using any saurce of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). 230925 NEBRASKA - Single Family - Fannie MaelFreddie Mac UNIFORM INSTRUMENT �-6(NE) (oet�) PageB of 15 �niti � FOrm 3028 1/01 �