201008049 - Laserfiche WebLink

Browse

2oiooso49 9. Protectiun of Lender's Interest in the Property and Rights IInder this Security Instrument. If (a) I3an'ower fails to perforru the covenants and agreements contained in this Secuarity Tnstrument, (b) there is a legal proceeding that might significantly a£Fect Lender's interest in the Property and/or rightti under this Security Instnunent (such as a proceeding in bankruptcy, probate, for condemnation or £orfeiture, far enforcement of a lien which may attain priority over this Secutity Instrument or ta cnforce laws or regulations), ar (c) Borrower has abandoncd the Property, then Lendex- may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instx�ument, including protecting and/or assessing the value oF the Property, and secnriang and/or repairing the Property. Lender's actions can include, but ara not limited to: (a) paying any suins secured by a lien which has priority over this Securily Inslnunent; (b) appearing in court; and (c) paying reasonable attorneys' 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 ]acks, rc�place or board up doors and windows, drain water from pipes, eliminate building or other code viol.ations or dangcraus conditions, and have utilities turned on or off. Although Lender may takc action under this Section 9, I,ender does nat have to da so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability fox not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additianal debt of Borrower secured by this Security Instrument. These ainounts shall bear interest at the Note rate From the date of disbursement and shall be payable, with such interest, upon notice &orn Lender to Borrower requesting payment. If this Security Instrurnent is on a leasehold, Borrower shall comply with all the provisions af the lease. If Borrower acquires fee title to the Property, the leasehold and ihe fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insutance as a condition of making the Loan, Borrower shall pay the premiwns required to maintain the Mortgage Insurance in effect. If, for any rcason, the Mortgage Insurance coverage required by I,ender ceases to be available from the mortgage insurer that pteviously provided such insurance and Bottower was teyuired to inake separately designated payments toward the premiums for Mortgage Insurance, Bortowet shall pay the premiums xequired to obtain coverage substantially equivalent to the Mortgage Insurancc previously in effect, at a cost substantially equiValent to the cost to Botrower of the Mortgage Insuxance previously in efFect, &om an altemate mortgage insurer selected by Lender. If Gubstantially equlvalent Martgage Insurance coveragc is not available, 13orrower shall continue to pay to Lendet the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, us� and retain thesc payments as a non-refundable loss reserve in lieu af Mortgage Insurance. Such loss reserve shall be non notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be tequired to pay I3orrower any intereet ot earnings nn such loss reeerve. Lender can no longer require loss re5erve payinents if Mortgagc Tnsurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is ohtained, and Lender requires separately designated paym�nts towatd the premiums for Mortgage Insurance. If Lender raquired Mott�age In�urance as a conditian of making the Lnan and Borrower was required to make separately designaied payrnents toward the premituns for Mortgage Iusuranee, Borrawer shall pay the premiurns required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss xeservE, until Lender's requitement for Mottgage Insurance ends in accordance with any written agreeinent between Borrower and Lender providing for such tcrmination or until terminatian is required by �lpplicable Law. Nothing in this Section 10 afPects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburties Lender (ot any entity that putchases the Note) for certain lnsses it rnay inciu if BarroweX does not repay the Loan as agteed. Borrower is not a party to the Mortgagc Insurance. Mortgage insurerG evaluate their total risk on all such insurance in force from tirne to time, and may enter into agreements with other parties that share or modify their risk, or reciuce losses. These agreements are on tenns and cnnditions that are sati5factory to the mortgage insurer and the other party (or parties) to these agreernents. These agreements xnay require the mortgage insurer to make payments using any source oF funds that the mortgage insurcr may have available (which may include funds obtained from Mortgage Insurance premiuma). N�BRASKA- Single Family - FannieMaelFreddle Mac UNIFQI2141 INSTRUM�NT �-6(NE) (OS11) Page B of 15 Initials: Form 3028 1/p1 Y '