201009795 - Laserfiche WebLink

Browse

201009795 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Barrower fails to perform the covenants and agreements contained in this Security Insts (b) tl�ere is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceedin� in bankruptcy, probate, for condemnation ar forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender' s interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value af the Property, and securing and/or repairing the Property. Lender' s actions cara include, buc are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearin� in caurt; and (c) paying r�asonable attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceedin�. Securing the Property includes, but is not limited to, entering tt�e Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations ar dangerous conditians, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or pbligation to do so. lt is agreed that Lender incurc no liability for not taking any or all actions authorized under this 5ection 9. Any arnounts disbursed by L�nder under this Section 9 sha11 become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate frorn the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requestin� payment. If this Security Instrument is on a leasehold, �3orrower sha11 comply with all the provisions of the lease. If Borrower acquzres fee title to the Froperty, the leasehald and the fee title shall not merge unless Lender a�rees to th� merger in writin�. 10. Martgage Insurance. If Lender required Mortga�e Insurance as a condition of rnaking the Loan, Sorrower shall pay the prerniums required to maintain the Mortgage Tnsurance in effect. If, for any reason, the Mortgage Insurance covera�e required by Lender ceases to be available from the mortgage insurer that previously pravided such insurance and Borrower was required to make separately designated paytnents toward the premiums for Mortga�e Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost tq Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Barrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in efrect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss r�serve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower ax�y interest or earnings on such lass reserve. Lender can no longer require loss reserve payxnents if Mortgage Insuraxa,ce coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and I.ender requires separately designated payments toward the prezniums fpr Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender' s requirement for Mortgage Znsurance ends in accordance with any written agreement between Borrower and Lender providing for such termizaation or until termination is required by Applicable Law. Npthing in this Section 10 affects Borrower' s obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (ar any entity that purchases 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 all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactary to the mortgage insurer and the other party (or parties) to these agreexr�ents. 'I'hese agreements may require the mortgage insurer to make payments using an,y source of funds that the mortgage insurer may have available (which rnay include funds obtained from Mortgage Insurance premiums). 231020 NEBRASKA - Single Family - Fannie MaelFreddie Mac UNIFORM IN5TRUMENT �-6�NE) �oa��) PageB of 15 i�n��is: Form 3028 1/01 ° � ��-