201008338 - Laserfiche WebLink

Browse

2o�oos3�s 9. Protectaon of Lender's Interest in the Property and Rights Under this Secaarity Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that xnight signi�'icantly affect Lender's interest in the Froperty and/ox xights under this Security Instrument (such as a proceeding in bankruptcy, probate, far condernnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Bonower has abandoned the Property, then Lender znay do and pay far whatever is reasonable or appropriace to protect I.ender'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 S�curity Instrurnent; (b) appearing in court; and (c) paying reasanable attorneys' fees to protect its interest in the Proparty 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 locks, replace ar baard up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation tv do so. It is agreed that Lender incurs no liability for nat taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 sha11 become additional debt of Borrower secured by this Security Instrument, These amounts shall bear interest at the Note rate from the date af disbursemenc and sl�all be payable, with such interest, upon notice from Lender to Sorrower requesting payment. If this Security Instrument is on a leasehold, Borrawer 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. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiurns required to maintain Che Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Sorrower shall pay the premiums required to obtain caverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Barrower of the Mortgage Insurance previously in effect, from an altemate rnortgage insurer selected 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. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such lass reserve. Lender can no longer require loss reserve payrnents if Mortgage Insurance coverage (in the amount and for the period that Lender requires) parovided by an insurer selected by Lender again becomes available, is obtained, and Lender requires sepazately designated payxuents toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required ta make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to rnaintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until L.ender's requirement for 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 Sectian 10 affects Borrower's obligation to pay interest at the arate provided in the Note. Mortgage Insurance reimburses Lender (or any entity thaC purchases tbe Note) for certain losses it may incur if Borrower does nat repay ths Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate cheir total risk on all such insurance in force from tinne to time, and may enter into agreements with other parties that share or modify theiar risk, or reduce losses. These agreements are on terms and conditions that are satisfactary to the martgage insurer and the other party (or parties) to these agreernents. These agreements may require the mortgage insurer to rnake payrnents using any source of funds that the mortgage insurer rnay have available (which may include funds obtained from Mortgage Insurance premiums). NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMEN7 � �-B�NE) lost t1 Page 8 of 15 in�t�ais: �`" Form 3028 1/01 ;�� , � .r "� 4 � �w �. ,�