201008414 - Laserfiche WebLink

Browse

201008414 9. Protection of Lender's Jnterest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Securiry Instrument, (b) there is a legal proceeding that might signi�cantly affect Lender's interest in the Prop�rty and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or farFeiture, for enforcement of a lien which may attain priority over this 5ecuriCy Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may da and pay t'or whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this 5ecurity Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Froperty. Lender' s actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attarneys' fees ta protect its interest in the Property and/or rights under this Security Instrurnent, including its secured position in a bankruptcy proceeding. Securing the Properiy includes, but is not limited to, entering the Property to make repairs, change locks, replaoe or board 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 rnay take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not takin� any or all actions authorized under this Section 9. Any arnounts disbursed by Lender under this Section 9 shall become additional debt of Sorrowar secured by this 5ecurity Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice frorn Lender to Borrower requesting payment. If th�s Security Instrurnent is on a leas�hold, Borrower shall comply with all the provisions of the lease. If Borxower acquires fee title tp the Property, the leasehold and the fee title shall not mecge unless Lender agreas to the merger in writing. 10. Mortgage Insarance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the 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, Borrawer shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of che Mortgage Insurance previously in effect, from an alternate mortgage 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 cov�rage ceased to be in effect. Lender will accept, use and retain these payments as a nan-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 loss reserve. Lender can no longer r�quire loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lend�r required Mortgage Insurance as a conditian af rnaking the Loan and Borrower was required to make separately designated payments toward the prexniunas for Mortgage Insurance, Bprro�ver shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable lass reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any w�itten agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage insurance reimburses I,ender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk pn all such insurance in force from time to time, and may enter into agreeznents with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the rnortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). 230959 NEBRASKA - Single Family - Fannie MaelFreddie Mac UNIFORM INSTRUMENT s / �-6�NE) �oe��> Pagee of 15 i��c�ais: �" c�°�` Form 3028 1101