201008731 - Laserfiche WebLink

Browse

2oioos�3� 9. Protection of Lender's �nterest in the Froperty and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) thcre is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrum�nG (suah as a praceeding in bankruptcy, probat�, for condemnation or forfeiture, for enforcement of a lien which may attain priority av�r this Security Instrument or to enforce laws or regulatipns), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate ta prot�et Lender's interest in the Praperty and rights under this Security lnstrument, inclnding protecting and/or assessing the value of the Property, and securing and/or repairing the Property. L,ender'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 attomeys' fees to protect its interest in thc: Property and/or rights undcr this Security Instrument, including its secured position in a bankzuptcy procceding. Securing the Property includcs, but ia not limited lo, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water frorn pipes, eliminate building or ather code violations or dangerous conditions, and have utilities turned an c�r nff. Although L.ender may take action under this Section 9, L.ender does not have to do so and is not under any duty or obligatiqn to do sa. It 'rs agreed that L�nd�r incurs na liability for not taking any or all actions authorized under this Sectian 9. Any amounts disbursed by T.ender under this Section 9 shall become additianal debt �f Borrower secured by this Security Instrument. 17iese ainounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. Tf this Security Inslzumc:nl is an a l�as�hald, BUrrow�r shall cc�mply with all the provisiUns c�f the lease. Tf Borrower acquir�s fce ti[1C t� the Prop�rty, thc lcasehold and lhe fce title shall not merge unless Lend�r agrees tci th� rnerger in writing. 10. Mortgage Insurance, If L.ender required Mortgage Insurance as a candition af �naking the I.oan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. Tf, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided su�h insurance and Borrower was required to mak� separately designated paymcnks toward the premiums f'or IVTortgage Tnsurance, �orrower shall pay the preiniums required ta abtain caverage substantially equivalent to the Murtgag� Insurance previausly in cffcct, at a cast substantially equival�nt to lhe cost to Borrawer af the Mortgage Insuranc� previously in c:fl'�ct, from an alternate mortgagc insurer selected by L�nd�r. If substantially �quival�nt Mc�rtgag� Insurancc coveragc is not available, Borrower shall continue to pay to I.ender khe amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. I.ender will accept, use and retain these paymc:nts as a non-refundable lass reserve in lieu of Martgage Insurance. Such 1C�ss r�s�rve shall be nan-rcfundable, natwithstanding the fact that the Loan is ultimately paid in full, and I,snder shall not be required to pay Borrower any interest or earnings on such loss reserve. L.ender can no longer require loss reserve payments if Mortgage Tnsurance coverage (in the amount and for the period that Lender requires) provide:d by an insurer selected by Lender again beaames available, is obtainsd, and I�end�r r�yuires separat�ly designated payments toward the premiums for Mortgage Insurance. If L,ender required Mc�rl�age Insurance as a condition of making the Loan and Borrawer was required to mak� separatcly d�signated payments toward the pr�miums fc�r Mortgage Tnsurance, Borrower shall pay the premiums required to maintain Morigage Insurancr: in cff�:c[, or to provide a non-refundable loss reserve, until L.ender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrow�r and I,ender providing for such termination or until terminatian is rsquired by Applicable I.aw. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Tnsurance reimburses Lender (or any entity that purchases the Note) for certain lasses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the M�ri�age InsuranCe. Morigage insurers evaluate their total risk on all such insurance in force from tirne to tirne, and may enter into agreements with other parties that share or modify their risk, ar rc:duc� lasses. These agreements are on terms and conditions that are satisfactory to the mortgage irrsur�r and [he ath�r party (or parties) to these agreements. These agreements xnay rec�uire the mortgage insurer to make payments using any source of funds that th� mprtgage iusurer rnay hav� availablc (which may include funds obtained frocn Mortgage Insurance premiums). NEBRASKA - 5ingle Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT �-6�NE) ioai�� Paqa 8 of 16 i��c�eis: Form 3028 7/01