201009091 - Laserfiche WebLink

Browse

201009Q91 9. Protecbion of Lander'g Iatesest [n the Property and Rigttts [Tnder this Secvrity Y�nstrumeat. If (a) Boarrower fails to perform the covenants and agree�nts cantained in this Se�uriry Instn�ment, (b) there is a lcgal proceeding that might aignificantly affe�t L.�nder's interest in the �roperty and/or rights under Chis Security Izastivment (such as a pmcecdiu�g in bankruptcy, probate, for condexnnation or forfeiture, for enforcement of a lien which may attain priority over this S�curity Instrument or to enforce laws or regulations), ar (c) Borrower has abandoned the Property, then Lender may da and pay for whatever is reasonabl� or appropriate to protect I.ender's interest in the PropeRy and rights under this Sec.�urity Instrument, including protecting and/or asses,sixa�g the value of the Property, and securing and/or repairing the Properry. Lender's actions can include, but are not limited to: (a) paY�S �Y � se�ured by a lien which has priority over this Security Instnun�nt; (b) aPP�B � cottrt, and (c) paying reasonable attorneys' fees to prote�t its interest in ttxe Property and/or rights under this Security Inst�vment, including its secured position in a bad�tcy proce�ding. S�uring thc PropBriy includes, but is not limited to, entering the Property to t�nake repai.rs, change locks, replace or board up doors and windows, drain water frozn pipes, eliminate buiidi,ng or othcr code violations or dangerous conditiona, and have utilitics tu�ned on or off. Aithough L�endcr may tak�s action under this Section 9� L,ender docs not have to dn so and is not und�r any duty ar obligation to do so. lt is agreed that Lez�cter inc�rs no liability for not taking any or all actions authorized under this Seetion 9. Any amorints disbux�sed by Lender under this Se�tion 9 shall be�o:pr� additional debt of Horrower secured by Chis Security Instrument. The�e amounts shall bear inteiest at the Note rate from the date vf disbursement and shall be payable, with such interest, upon notice from Lsnder to Bonrower requesting payment. _ If thrs Security Instrument is on s leasehold, Borrower shall cornply with ail the pravisions of the lease. Tf Borrower acquires fee title ta tt� Prop�rty, the lcasehold and the fee tit�e shall not znerge unless Lender agrees to the m�erger in writing. 10. Martgage Insurance. If r.ender r�uired Mortgage Insuraace as a cbndition of malcing the Loan, Borrower shail pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage requir�d by �.ender ceases to be available firorn the mortgage insurer chat previously provided such i�surance anui Bormwer was require� to make separately designat�i payrnents toward the premiums for Mortgage Insurance, Horrower shall pay the pfemiums requirec( to obtain coverage subs;ttantially equivalent tc� the Mortgage Insurance pr�.wiously in cffect. at a cast substantially equivalent ta the cost to Hormwer of the Mortgage Insuranoe previously in effect, from an altemate rnortgage itz�urer �ected by L,ender. If substantaally equirralent Mortgage Insurance cov�rage is not available, Borrower shall continu� to pay to Lender the arr�unt of the separatelq designated payments that were due when the insurance coverage cca�ed to be in effe�t. L.ender will accept, use and retaiu thesc payments as a non-refundable loss rescrve in li�tt of Mortgage 7nsuran�e. Such loss resetve shall be non-refundable, notwithstanding the fact that th� Loan is ulrimatcly paid in fiill, az►d Lender shall z�ot be requiured to pay BQrrowcr any intcrest or e�arnings on such loss �eserve. L,cnder can no longer require lass reservc payments if Mortgage Insurance coverage (iui thc amaunt and for the period that Lcnder requires) provided by an insu�re�r aelected by Lendet again becomes available, is obtained, and Lender requires acparately designated payments Wward the pt�emiums for MoRgage Insurancx. If I.ender required Mortgage Insuran�e as a condition af maki�g the L.oan a�ad Bo;rnower vvas required to rnake s�parately designated payments toward the premiwna for Mortgage Insurance, Barrowex' shall pay the premiwns rec�uired to maintain Mortgage Insurance in efFect, or to provide a rwn-refundable loss reserve, until I,ender°s requirement for Mortgage Insurattce ends int accordance with any written agre�ent between Borrow�r an,d Lender pmviding for such terminatipn or untii�l termination is required by Applicable Law. Nothing in this Saction 10 affects Borrower's obligation to pay in�t at the rate provided in the Note. Mortgage Insuraixec reimbwrssees Lender (or any entity tt�aC purchases the Note) for certain lnsses it may incur if Hornower does not c+�paq tbe Loan as agceed. Horrow� is not a patty to ttte Mortgage Insurance. Mortgage insurers evaluiate their total risk on a11 such insurance in force from tirne ta time, a� may enter inta agr�ents v►+�th at�her parties that share or modify their risk, or reduce losses. '[fiese ag�ments are on tern�s and condit�ons that are satisfactory to the �wRgage insurer and the other partY (or parties) to these agneements. These agrcen�ents may rvquire the mortgage insurer to malse paYm�ts usinS anY saurce of fiubds that the mortgage insurer nqay have availabla (which may iticlude fu.�d,s obtait�ed from Mortgage Insurat�ce premiums). NEBRASKA - Single Femily - Fannte Mar/Fn�id� Mac UNIFORM INS7'RUMENT ��INE) ros t t 1 r�e e m � s i�rn.is: Form 3028 1/01