201008791 - Laserfiche WebLink

Browse

2oioos791 9, Protection of Lender's Interest in the Property and Rights Udder this Security instrument. If (a) Borrower fails to perform the cavenants and agreements contained in this Security Instrument, (b) there is a legal procee�rng that rnight significantly affect Lender's interest in the Property and/or rights under this Securrty Instrument (such as a proceeding in banknxptcy, probate, for condemnation or forfeiture, for enforcement of a lren which may attain priority over this Security Instrumer►t oar to enforce laws or regulations), or (c) Borrower has abandaned the Properiy, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interast in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or xepairing the Property. Lender's actions car� include, but aze not limited to: (a) paying arty sutns secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (a) paying reasanable attorneys' fees to protect its interest rn the Properiy and/or rights under this Security Instriur►ent, includrng its secured positron rn a banktuptcy proceeding. Securing the Property includes, but is nat limited to, entering tha Praperty to make repairs, change locks, replace or board up doors and windaws, drain water from pipes, eliminate building or other code vrolations or dangeraus conditions, and have utilities turned on or off Although Lender may take action under this 5ection 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 taking any or all actions authorized under this S�tion 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bcar 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- . If this 5ecurity Instrument is on a leasehold, Borrower� 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 rnerge unless Lender agrees to the itaerger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurauce as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance rn effect. If, for any reason, the Mortgage insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such rnsurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Sorrawer shall pay the premiurns required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Tnsurance previously in effect, from an alternate mortgage insurer select�i by Lender. If substantially equivalent Mortgage Insurance coverage is nnt available, Borrower shall cantinue 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 Ireu of Mortgage Insurance. Such loss reserve shall be non-refi�ndable, 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 require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Ler�der requires) pravrded by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiurns for Mortgage insurance. If Lender required Mortgage lnsurance as a condition of makrng the Loan and Borrower was required to malce separately designated payments toward the premiums f�r Mortgage Insurance, Borrower shall pay the premiums required to rnarntain Mortgage Tnsurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage lnsurance ends in accordance with any written agreement between Borrower and Lender provrdittg for such termination or until termination is required by Applicable Law. Nothing in this Sectron 10 affects Sorrower's obligation to pay interest at the rate provided in the Note. Mortgage insurance reimburses Lender (or any entity that purchas�s 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 on al) such insurance in force from time to time, and may enter into agreements with other parties that share ot modify their risk, or reduce losses. 'Chese agreements are on textns and conditions that are satisfactory to tha mortgage insurer' and khe ather party (or paa 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 prernrurns). 2200U72053 D V6ANE NEBRASKA - 5ingle Family - Fannle Mae/�reddie Mac UNIFURM INSTRUMENT WITH Md�� �-6A(Nq �oe�a� Pape 8 of 15 Inipels' J� �J Form 3028 1101 8