|
20�oo7sai
<br />9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If
<br />(a) Borrower fails to perform the covenants and agreements contained in this Secuz�ity Instrument, (b) there
<br />is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under
<br />this Security Instrurnent (such as a procceding in bankruptcy, probate, for condemnation or forfeiture, for
<br />enforcement of a lien which may attain priority over this Security �iastrument or to enforce laws or
<br />regulations), or (c) Borrower has abandaned the Property, then I.�nder may do and pay for whatever is
<br />reasonable or appropriate to protect I.ender's interest in the Property and rights under this Security
<br />Instrurnent, including protecting and/or assessing the value of the Property, and securing and/or repairiu�g
<br />the Property. Lender's actions can. include, but aze not limited ta: (a) paying any swns se�ured by a lien
<br />which has priority over this S�curity 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
<br />its secured position in a bankruptcy proceeding. Securing the Property includes, but ia not limited to,
<br />entering the Property ta make repairs, change locks, replace or board up doors and windows, drain water
<br />frorn pipes, eliminate buildin$ or other code violations or dangerous conditions, and have utilities turned
<br />on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not
<br />under any duty or obligation to do so. It is agrced that Lender incurs no liability for not taking any or all
<br />actions authorizal under this Section 9.
<br />Any arnounts disbursed by Lender under this Section 9 shall become additional debt of Borrower
<br />secured by this Security Instnunent. These amounts shall bear interest at the Note rate frorn the date of
<br />disbursexnent and shall be payable, with such interest, upon notice from L,ender to Borrower requesting
<br />payment.
<br />If this S�urity Instrument is on a leasehold, Borrower shall comply with all the provisions qf the
<br />lease. If Banower acquires fee title to the Property, the leasehold and the fee title shall not rnerge unless
<br />Lender agr�s to the merger in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insuurance as a condition of malcing the Loan,
<br />Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason,
<br />the Mortgage Insurance coverage required by Lender ceases to be available from ttAe mortgage insurer that
<br />previausly provided suck� insurance and Borrower was required to make separately designated payrnents
<br />toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain
<br />coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially
<br />equivalent to the cost to Borrawer of the Mortgage Insurance previously in effect, from an alternate
<br />rnortgage insurer selected by I.,,ender. If substantially equivalent Mortgage Insurance coverage is not
<br />available, Borrower shall continue to pay to Lender the arnount of the separately designated payments that
<br />were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these
<br />payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve sha11 be
<br />non-refundable, notwithstanding the fact that the I,oan is ultinr�ately paid in full, and L,�nder shall not be
<br />required ta pay Borrawer any interest oar earnSzigs on such loss reserve. Lender can no longer require loss
<br />reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires)
<br />provided by an insurer selected by Lender again becomes available, is obtained, and L,ender requires
<br />separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage
<br />Insurance as a cqndition af making the Loan and Borrower was required to rnake separately designated
<br />payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to
<br />maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's
<br />requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and
<br />Lender providing for such ternunation or until tennination is required by Applicable L,aw. Nothing in this
<br />Section 10 affects Borrower's obligation ta pay interesc at che rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it
<br />may incur if Borrower does not repay the I.oan as agrced. Borrower is not a party to the Mortgage
<br />Insurance.
<br />Mortgage insurers evaluate their total risk on all such insurance in fprr,e from time to time, and may
<br />enter into agreements with other parties that shaze or modify their risk, or reduce losses. These agreernents
<br />are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to
<br />these agreements. These agreeznents may require the mortgage insurer to make paym�nts using any source
<br />of funds that the rnortgage insurer may have available (which may include funds obtained from Mortgage
<br />Insurance premiums).
<br />NEBRASKA - Single Family - Fannle MaelFreddie Mac UNIFpRM INSTRUMENI" I���-
<br />�-6�NE) 108111 Page S of 15 Initials: ;,� -r Form 3028 1/01
<br />,
<br />r.1�1�� �JV �`,(��9 �
<br />
|