201008567 - Laserfiche WebLink

Browse

2�14�8�� 9. Protection of L�nder's Interest in the Ptrapetrty and Rights Under this Security Instrament. If (a) 13orrower fails to perform the cavenants and agreements contained in this S�curity Instrument, (b) thc�r� is a legal proc�eding that might significantly affect Lender's interest in the Prap�rty and/or rights under this 3ecurity Tnstrument (such as a proceeding in bankruptcy, prabate, for condemnalion or forfeiture, for enforcement of a lien which may attain priority over this Se.curity Instrument or ta enforce laws or regulations), ar (c) Borrower has abandoned the T'roperty, then Lender may dc� and pay for whatever is r�asonable or appropriate to protect Lend�r's interest in the Property and rights under khis Security Instrument, including protecting and/or asscssing the value of the Property, and securing and/ar repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which lxas priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Praperty and/or rights under this Security Instrument, including its secured position in a bankruptcy procceding. Securing the Property includes, but is not limitcd to, entering the Property to make repairs, change locks, replace or baard up doors and windows, drain water from pipes, eliminate buildin� or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, L.ender does not hav� to do so and is not under any duty or obligation to da so. It is agreed that Lender incurs no liability for not taking any cir all actions authorized under this S�ction 9. Any amounts disbursed by I,endcr under this Section 9 shall b�c�me additional debt af Borrower sccured by this Security Instrument. These amounts shall bear interest at lhe Nate rate from the date of disbursement and shall be payable, with such intGrest, upan notice from I,cnd�r ta Borrower requesting payment. Tf this S�curity Instrument is on a leasehold, Borrower shall camply with all the provisions Uf the lease. Tf Borrow�r acquires fee titic to the Property, the leasehold and the fee title shall not merge unless Lend�r agrees to the mergsr in writing. 10. Mortgage Insuranc�. If L.ender reyuired Mortgage Intiurance as a condition of making the Loan, Borrower shall pay lhe premiums required ta rnaintain the Mortgage Insuranc� in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be availabl� from the mortgage insurer that previously provided such insurance and Borrow�r was required to make separat�ly designated payrr►ents toward the premiums for Mortgage Insurance, Barrawer shall pay the premiums required to obtain caverage substantially equivalent to the Mortgage TnsurancG previously in effect, at a c;�st substantially �quivalent to the cost ta Borrower of the Mor[gag� Insurance previously in �ffect, from an alternate mcartgage insurer selccted by Lender. If substantially �quivalent Mortgage Insurance coverage is not available, Barrawer shall continue to pay ta L.ender the amount of lhe separately designated payments that were due when tlxe insurance coverage ceased to be in effect. I,ender will accept, use and retain these payments as a non-refundable lass reserve in lieu of Mortgage Insurance. Such loss r�serv� shall be non-rcfundable, notwithstanding the fact that the Loan is ultimately paid in full, and T.ender shall not bc; required to pay Borrawer any interest or earnin�s on such lass reserve. Lender can na langer require loss reserve payments if Martgage Insurance coverage (in ChG amaunt and for the period that I..�nder requires) provided by an insurer select�d by Lender again becomes available, is abtained, and I.ender requires separately designated payments taward the premiums for Mortgage Insuran�e. If L.ender required Mortgage Insurance as a conditian af making the Loan and Borrower was required to make separately designat�d payments toward the premiums far Martgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Tnsurance in effect, or to provide a non-refundabl� lass reserve, until l,ender's requirement for Martgage Insurance ends in accardance w'rth any written agreemenl bclw��n Borrawer and Lender providing f�r such termination or until terminatian is required by Applicable Law. Nothing in this Section 10 affects Borrawer's abligation to pay interest at the rate provided in the Note. Mortgage Tnsurancc: r�itnburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower daes not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgag� insurers evaluate their total risk on all such insurance in force from time tc7 tim�, and may enter into agreements with ather parties that share or modify their risk, ar reduce losses. '1'hese agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to thes� agreements. T7iese agrecments may r�quire the rnartgage insurer to make paymcnts using any saurce of funds that the rnartgage insurer may have availabl� (which rnay include funds obtained from Mortgage: Insurance premiums). NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT �-B�NE) �osi il Paqe B af 16 Initials:� Form 3028 1Iq1