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<br />v2 WBCD LOAN � 5p303b327
<br />residence for at least ane year after the date of occupancy, unless Lender otherwise agrees in writing, which consent
<br />shall not be unreasonably withheld, ar unless extenuating circumstances exist which are beyond Borrower's cantral.
<br />7. Preservation, Maintenance and Protectlon of the Property; Inspections. Borrower shall not des#roy,
<br />damage or impair the Property, allow the Property to deteriorate or commit waste an the Praperty. Whether or not
<br />Barrawer is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from
<br />deteriorating ar decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or
<br />restoratian is not ec�nomically feasible, Borrawer shall promptly repair the Property if damaged to avoid further
<br />deterioration or damage. If insurance or candemnation praceeds are paid in connection with damage to, ar the taking
<br />of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released
<br />praceeds for such purposes. Lender may disburse proceeds fior the repairs and restoration in a single payment or in
<br />a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufFicient
<br />to repair vr restore the Property, Borrdwer is not relieved of Borrawer's obligation for the completion of such repair or
<br />restoration.
<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 improvements on the Property. Lender shall give Borrower notice at the time of
<br />or prior to such an interior inspection specifying such reasonable cause.
<br />8. Borrower's Loan Appllcatlan. Barrower shall be in default if, during the Loan application process, Borrower
<br />or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially
<br />false, misleading, or inaccurate information ar statements to Lender (arfailed to provide Lenderwith material information)
<br />in connectian with the Loan. Material representations include, but are not limited to, representations concerning
<br />Borrower's occupancy of the Praperty as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under thls Securlty Instrument. If (a) Borrower
<br />fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that
<br />might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a
<br />proceeding in bankruptcy, probate, for candemnation or forfeiture, for enforcement of a lien which may attain priority
<br />overthis 5ecurity Ins#rument orto enforce laws or regulations), or (c) Borrawer has abandoned the Praperty, then Lender
<br />may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under
<br />this Security Instrument, including protecting and/or assessing the va�ue af the Property, and securing and/or repairing
<br />the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority
<br />over this Security Instrument; (b) appearing in court; and (c) paying reasonabl� attorneys' fees ta protect its interest in
<br />the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding.
<br />Securing the Pr�perty includes, but is not limited to, entering the Property to make repairs, change locks, replace or
<br />board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous
<br />conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender daes not
<br />have to do so and is nat under any duty ar obligation to do so. It is agreed that Lender incurs no liability fnr nat taking
<br />any or all actions authorized under this Section 9.
<br />Any amounts disbursed by Lender under this Section 9 shall become additional debt of Barrower secured by this
<br />Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be
<br />payable, wi#h such interest, upon notice from Lender to Borrower requesting payment.
<br />If this Security Instrument is on a leasehald, Borrower shall camplywith all the provisions ofthe lease. Borrower shall
<br />notsurrenderthe leasehold estate and interests herein conveyed orterminate or cancel the ground lease. Borrawershall
<br />not, without the express written consent of Lender, alter or amend the ground lease. If Borrower acquires fee title to the
<br />Property, the leasehald and the fee title shall nat merge unless Lender agrees to the merger in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a conditian of making the Loan, Borrower shall
<br />pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance
<br />coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance
<br />and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance,
<br />Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance
<br />previously in effect, at a cost substantially equivalent to the cost ta Barrower of the Mortgage Insurance previously in
<br />effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage
<br />is nat available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were
<br />due when the insurance caverage ceased to be in effect. Lender will accept, use and retain these payments as a nan-
<br />refundable loss reserve in lieu of Mortgage Insurance. 5uch lass reserve shall be non-refundable, notwithstanding the
<br />fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on
<br />such lass reserve, Lender can no longer require lass reserve payments if Mortgage Insurance caverage (in the amount
<br />and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is �btained,
<br />and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required
<br />Martgage Insurance as a condition of making the L�an and Borrower was required to make separately designated
<br />payments taward the premiums for Mortgage Insurance, Barrawer shall pay the premiums required to maintain
<br />Mortgage Insurance in effect, or to provide a nan-refundable loss reserve, until Lender's requirement for Mortgage
<br />Insurance ends in accordancewith anywritten agreement between Borrower and Lender providing for such termination
<br />or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligatian ta pay interest
<br />at the rate pravided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if
<br />Barrower does not repay the L.oan as agreed. Borrower is nat a party to the Mortgage Insurance.
<br />Mortgage Insurers evaluate their total risk on all such insurance in f�rce from time to time, and may enter into
<br />agreements with other parties that share or modify their risk, or reduce losses. These agreements are an terms and
<br />conditi�ns that are satisfactory to the martgage insurer and the other party (ar parties) to these agreements. These
<br />agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer
<br />may have available (which may include funds obtained from Martgage Insurance premiums).
<br />As a result of these agreements, Lender, any purchaser of the note, another insurer, any reinsurer, any other entity,
<br />or affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized
<br />as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or madifying the mortgage
<br />insurer's risk, or reducing losses. If such agreement provided that an affiliate of Lender takes a share of the insurer'�
<br />NEBRASKA--Single Family--Fannfe Mae/Fraddio Mac UNIFORM INSTRUMENT Form 5�281/01 Initials:
<br />� 1999-2007 Onllne Dacuments, Inc. Pa9@ 5 Of 9 NEEDEE
<br />10-27-201Q 11s5
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