201009089 - Laserfiche WebLink

Browse

zo�oo9os9 9. Protection of I.ender's Interest in the Property and R�ights Under this Security Instrument. If (a) Borrower fails to perform t,he covenants an,d agr�ents containe� in this Security Instrument. (b) there is a legal proceeding that might signi�cantly a�fect Lender's interest in the Property and/or rights wader this Security Instrument (such as a procee�ing in bankn�ptcy, probate� for condenuiation or forfeiture, for enforcement of a lien whirh may attain priority over this 5ecurity Inswment or to enforce laws or regulations), or (c) Borrower has abandar�ed the Property, then Lender may do and pay far whatever is xeasonable or appropriate to protecr Lender's interest in the Property and rights under this 5ecurity instrument, including protecting and/or assessing the va�ue of the Property, and securing and/or repairing the Property. I.,ender's actions can include, but are not limited to: (a) paying any sums secur� by a lien which has priority over this Security Instrument: (b) appearing in court; and (c) paying reasonable attorneys' fees ta protect its interest in the Property and/or rights under this Securiry Instrument, including its secured position in a banl�uptcy proceeding. Securing the Pmpetty includes, but is not limited to, entering the Property to malce repairs, change locks, replace or board up daars and wiGndaws, drain water from pipes, eliminate building or ather code violations or dangcraus canditio�ns, and have utilities turned on or off. Although Lender may take action under this Se�tion 9, I..ender does not have to do so and is nvt under any duty or obligazion W do so, It is agreed Chat Lender incurs no liability for not taking any or all actions authorize� under ihis Section 9. Any amounts disburse� by Lender under this Section 9 shall �c:ome additional debt of Borrower secured by this Security Instrumeni. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, wittx such interest, upon noticc from Lender to Borrower requesting � tlu's Security Instrument is on a leasehold, Borrower shall comply with all the pravisions of the Iease- If Borrower acyuires fee title to t6e Property, the leasehold and the fee title shall not merge unless I.ender agrees to the merger in writing. 10. Mot�tgage Insurance. If Lender re�]ulred Mortgage IncurancE ag a Co1ldiCioxl of m�kking the Loan, Borrower shall pay the premiu�rns requir�d ta maintain the Martgage Insurance irn effect. If, for ar►y reason,• the Mortgage Insurance coverage required by Lender ceases to bc available from the �rtgage insur�r that previously provided such insurance and Borrower was rcquired to make separately desi�gnated payments toward the pre7niums for Mortgage Insurance, Borrower shall pay thc premiums required to obtaiz� coverage substantially equivalent ta the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Horrower of the Mortgage Insurance previously in effect, from an alteannate mortgage insurer selected hy I.ender, If substantially equivalcnt Mortgage Insurance coverage ia not available, Borrower shall continue ta pay ta Lender the arnount of the separately designated payments that were due when the insurat�ce coverage ceased to be in effect. L.ender will accept, use and retai� these payrinents as a non-refundable lnss reserve in lieu of Mortgage Insurance. Such loss reserve shall be nan-refut�dable, notwithstand'vng the fact that the Loan is ultimately paid ir� full, and l.ender shall not be require� to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Iz�aurance coverage (in the amqunt and for the period that Lender requires) provided by aa insurer aelectBd by T.ender again becotnes available, is obtained, and Lender reyuires separately designate� p$yments toward the premiums for Mortgage lnsurance. If Lender required Martgage Insurance as a condition of making the Loan and Bozrower was required tq makc separately designated payments toward the premiwms for Mortgage Tnsurance, Borcower shall pay the premiums requir�i ta maintain Mortgage Insuran�e in effcct, ar to provide a non-refundable loss reservc, until Lender's requirement for Moctgage Insuranoc ends in accordancc with any written agree�nent bctwcen Borrower aud Lender providing for such tetminatian or until termizaation is required by Applicable Law. Nothing in ihis Section 10 a�fects Borrower's obligatian W pay interest at the rate provided in the Notc, Mortgage Insuramce reimburses Lender (or any entity that purchases thc Note) for certain losses it xnay incur if Borrower does not rcpay the Loan as ag�d. Horrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their Wtal risk on all such insurance in force from time to time, and may enter inw agreements with other parties that share or modify their risk, or reduce lasses. These agreements ar� on terms and ounditians that are satisfactory to the mortgage inswrer and the other party (or parties) to these agreements. 'Ihesc agreements may require the mortgage insurer w make payments using any source of funds that the mortgage insurer may have available (which may in�dude funds obtained from Mortgage Insurance pz+emiurns). NEBRASKA - Sinple Family - Fennl� Mss/Fr�ddi� Mac UNIF�RM IN$TRUMFM �-BINE) ros�� PepeB of 15 in�tiaia: Ga � Furm 5028 1/01 `J