Laserfiche WebLink
2oioo�7sg <br />are applicable to the coverage of the Property. Lender rnay use the insurance proceeds either to repair or restore the <br />Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. <br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence <br />within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's <br />principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which <br />consent shall not be unreasonably withheld, or unless extenuating circurnstances exist which are beyond Borrower's <br />control. <br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower sha11 not destroy, <br />darnage or impair the Property, allow the Property to deteriorate or comznit waste on the Property. Whether or not <br />Borrower is residing in the Property, Borrower shall maintain the Prpperty in order to prevent the Property frorn <br />deteriorating or decreasing in value due to its condition. Unless it is detern'uned pursuant to Section 5 that repair or <br />restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further <br />deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking <br />of, the Property, Borrower shall be responsible for repairing pr restoring the Property only if Lender has released <br />proceeds for such purposes. Lender may disbursc proceeds for the repairs and restoration in a single payment or in <br />a series of progress payxnents as the wark is completed. If thc insurance or condemnation proceeds are not sufficient <br />to repair or restore the Property, Barrower is not relieved of Bonower's obligation for the completion of such repair <br />or restoratian. <br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, <br />Lender may inspect the interior of the iamprovements on the Property. L,�nder shall give Borrower notice at the time <br />of or prior to such an interior inspecCion specifying such reasanable 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 Bprrower or with Borrower's knowledge or consent gave <br />materially false, misleading, or inaccurate information or statements to L,ender (or failed to provide Lender with <br />material information) in connection with the �.oan. Material representations include, but are not limited to, <br />representations concerning Borrower's occupancy of the Property as Borrower's principal residence. <br />9. Protection of Lender's Interest in the Praperty 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 legal <br />proceeding that rnight significantly affect Lender's interest in the Property and/or rights under this Security Instrument <br />(such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcernent of a lien which znay <br />attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the <br />Property, then L,ender may da and pay for whatever is reasonable or appropriate to protect Lender's interest in the <br />Property and rights under this Security Instrurnent, including protecting and/or assessing the value of the Property, <br />and securing and/or repairing the Property. I.ender's actions can include, but are not limited to: (a) paying any sums <br />secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable <br />attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured <br />positipn in a bankruptcy proceeding. Securing the Property includes, bnt is not limited to, entering the Property to <br />make repairs, change locks, replace or board up doors and windows, drain water from pipes, elirninate building or <br />other c�de violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action <br />under this Se�tion 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that <br />Lender incurs no liability for not taking any or all actions authorized under this Sectian 9. <br />Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this <br />3ecurity Tnstrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be <br />payable, with such interest, upon notice fram Lender to Borrower requesting payment. <br />If this Security Instrument is on a leasehold, Borrower shall complq with all the provisions of the lease. <br />Borrower shall not surrender the leasehold cstate and interests herein conveyed or ternunate ar cancel the ground lease. <br />Barrower shall not, without the express written consent of I,ender, alter or amend the ground lease. If Borrower <br />acquires fce title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger <br />in writing. <br />10. Mortgage Insurance. If I.ender required Mortgage Insurance as a candition of making the Loan, Borrower <br />shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage <br />Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such <br />insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage <br />Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent ta the Mortgage <br />Insurance previously in effe�t, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance <br />previously in effect, frorn an alternate mortgage insurer selected by I.ender. If substantially equivalent Mortgage <br />Insurance coverage is not available, Borrower shall continue to pay to Lender the axnount of the separately designated <br />payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these <br />payments as a nan-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, <br />notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any <br />interest or earnings an such loss r�serve. Lender can no longer require loss reserve payments if Mortgage Insurance <br />coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again <br />becomes available, is obtained, and Lezider requires separately designated payments toward the premiums for <br />Mortgage Insurance. If Lender required Mnrtgage Insurance as a condition of making the Loan and Borrower was <br />required to make separately designated payrnents toward the premiums for Mortgage Insurance, Borrower shall pay <br />the prexniums required to maintain Mortgage Insurance in effect, or to providc a non-refundable loss reserve, until <br />L.�nder's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and <br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM IN57RUMEN7 <br />Form 3028 1/01 Page 5 af 11 <br />DocMagic � eoas4s->ss2 <br />www.dacmagic.com <br />Nc3028.dot.xml <br />