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201008570
<br />Section 5 that repair or restoration is not economically feasible, Borrower shall procnptly repair the Property if
<br />damaged to avoid further deterioration or darnage. If insurance or condemnation proceeds are paid in
<br />connection with damage to, or the taking oF, the Property, Borrower shall be responsible for repairing or
<br />restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds
<br />for the repairs and restoration in a single payment or in a series of progress payments as the work is
<br />conr►pleted. if the insurance or condemnation proceeds are not sufficient to repair or restoce the Property,
<br />Borrower is not relieved of Borrawer's obligation for the completion of such repair or restoration.
<br />Lender or its agent rr►ay make reasonable entries upon and inspections of the Property. If it has reasonable
<br />cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower
<br />notice at the time of or prior to such an interior inspection specifying such reasonable cause.
<br />8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process,
<br />Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or
<br />consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to
<br />provide Lender with material information) in connectian with the Loan. Material representations include, but
<br />are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal
<br />residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a)
<br />Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a
<br />legal proceeding that might signi�cantly affect Lender's interest in the Property and/or rights under this
<br />Security Instrument (such as a proceeding in bankruptcy, probate, for candemnation or forfeiture, for
<br />enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or
<br />regulations), or (c) Sarrower has abandoned the Property, then Lender may da and pay for whatever is
<br />reasonable or appropriate to pratect Lender's interest in the Property and rights under this Security Instrument,
<br />including protecting and/or assessing the value of the Property, and securing and/or repairing the Property.
<br />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) appeating in court; and (c) paying reasonable attorneys' fees to protect its
<br />interest in the Property and/or rights under this Security Instrument, including its secured position in a
<br />bankruptcy pcoceeding. Securing the Property includes, but is not limited to, entering the Property to make
<br />repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or
<br />other cade violatians or darigerous conditions, and have utilities turned on or off. Although Lender may take
<br />action under this Section 9, Lender does npt have ta do so and is not under any duty or obligation to do so. It
<br />is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9.
<br />Any amounts disbursed by Lender und�r this Sectian 9 shall become additional debt of Borrower secured
<br />by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement
<br />and shall be payable, with such interest, upon notice from Lender to Borrower requesting paynnent.
<br />If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the (ease. lf
<br />Borrower acquires fee title to the Aroperty, the leasehold and the fee title shall not merge unless Lender agrees
<br />to the merger in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan,
<br />Borrawer shall pay the premiurns required to maintain the Mortgage Insurance in effect. If, for any reason, the
<br />Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that
<br />previously provided such insurance and Borrower was required to make separately designated payments
<br />toward the premiums for Mortgage Insurance, Borrower shail pay the premiums required to obtain coverage
<br />substantially equivalent to the Mortgage Iasurance previously in effect, at a cost substantially equivalent to the
<br />cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected
<br />by Lender. lf substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue
<br />to pay to Lender the amount of the separately designated payments that were due when the insurance coverage
<br />ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in
<br />lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan
<br />is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or �arnings on such
<br />loss reserve. Lender can no longer require loss reserve payments if Mortgage Tnsurance coverage (in the
<br />amount and for the period that L,ender requires) provided by an insurer selected by Lender again becomes
<br />available, is obtained, and Lender requires separately designated payments toward the prerniums for Mortgage
<br />Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was
<br />required to make separately designated payznents toward the premiums for Mortgage Insurance, Borrower shall
<br />NEBRASKA- Single Family - FannieMaelFreddieMac UNIFORM INS7RUMBNT
<br />Form 30281/01
<br />Laser Forms Inc. (800) 446-3555
<br />LFI#FNMA3028 4/p2 Page7 of 13 �fliti8lS: �
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