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201009810
<br />7. Preservation, Mai��tenance and Nrotection of the Yroperty; Inspections. Borrower shall not destroy, damage or
<br />impair the Property, allaw the Yroperl.y to deterioraCe or commit wasfe on the Property. Whether or not Borrower is residing in
<br />the Property, Borrower shall maintain the f'roperty in order lo prevent the I'roperty from deteriorating or decreasing in value
<br />due to ils cnndition. Unless it is deLerminec:l pursuant to Section 5 lhat repa�r or restoration is not econor►tically feasibl�,
<br />F3orrower shall promptly repair lhe Property if damaged to avoid ti�rther deterioration or damage. If insurance or
<br />condemnation procee�l� are paid in connection with damage to, ��r the takin� of, the Property, Borrower shall be responsible for
<br />repairing or restoring the Property c>a�ly if Lencler has released procee�ls for such purposes. Lei�er may disburse procc�ds for
<br />the repairs ancl restoration in a tiingle payment nr in a serics of progress payments as the work is completed. If the msurance or
<br />con�lemnation proceeds are noc sufficient t�� repair or restore tlie 1'roperty, Borrower i� not relieved of Borrower's obligaticm
<br />for thc completion of such rcpair or i
<br />Lendcr or its a�ent may m�ike reasonablc entries upon and inspections of the Property. lf it has reasonable cause,
<br />Lender may inspect the inlericir of cl�e improvemet�ts on the Prnperty. I.ender shall give Borrower notice at the time of or prior
<br />to srich an interior inspecfion specifying such reasonable cautie.
<br />8. Borrower's Loan Applicatiou. �3orruwer shall be iri aefault if, during the I.oan applicacion process, �iorrower or
<br />any persons or enCiiies acl.ing at the directic�n ol' Borrower or with Borrower's knowledge ar consent gave materially false,
<br />misleading, or inaccurate informalion or statemenls to I..ender (or failed tc� provide Lcnder with material information) in
<br />connection with tlie Loan. Material representaLic�ns include, brrt are not r�n����:a tn, representations concerning $orrower's
<br />c�ccupancy of the Property as I3orrower's principal residence.
<br />9. Prolection of Lender's Ii�lerest in the Property and Rights [Jnder this Security Instrument. If (a) Borrower fails
<br />to perform the covenants ar�d agrecments contained in this Security ln�lrument, (b) there is a legal proceeduig chat might
<br />significanlly �fl'ect Lender's in�e;rest in the �'roperty and/or riglils �►nder tliis Security Instrument (such as a proceeding in
<br />bankruptcy, proh�ite, for cundemnation r>r forfeiturc, I�c�r enl'orcement of a lien which may altain priority over this Security
<br />Inslrument or to enforcu laws or re�;ulatic�ns), c�a' (c) Bnrrowcr has ahandoned lhc Prnperty, then Lender may do and pay for
<br />whatever is rtxsonable ur apprc�pri�te to protect Lcnder's interest in llic I'rc�perty and rights under this Security Instrument,
<br />inclucling protecting and/or asscssin� the value c�f the Yroperty, anil securing and/or reparring the f'roperty. Lender's actions
<br />can include, buL are not limited lo: (a) paying any sums secured by a lien wh�ch has priority over this Security Instrument; (b)
<br />dPPearing in court; and (c) Paying reasonable attnrneys' fees co protect its interest in the Property and/or nghts under this
<br />Security Instrument, including its secured position in a bankruptcy proceecling. Securrng the Prnperty includes, but is not
<br />limited to, entering the Property to makc repairs, change locks, replace or board up �loors and windows, drain water from
<br />pipes, eliminate building or c>�her cc�de violations or dangerous condition�, and have utilities turned on or off. Although Lender
<br />may take action under this Section 9, I.en�ler does not have to do so and is not under any duty or obligation to dc� so. Tt is
<br />agreed that Lender incurti no liability fur ncrt takin�* any or all actions aulhorizecl trnder this Section 9.
<br />Any amounts disbursed by Lender undcr lhrs Section 9 shall become additionai debt of Borrower secured by this
<br />Securily Instrument. These amounts shall bear interest at. thc Note r�ite I'rc�m the dale of dishursement and shall be payable, with
<br />such uiterest, upon notice 1'rom Lender co 13orrower reyuestirig �ayment.
<br />if this Security Instrument is oa� a leasehold, Borrowea� shall comply with all fhe provisions of the lease. If Borrower
<br />acquires fee litle lc> lhe Property, the leasehold and the fee iitle shall not mcrgc rrnless Lender agrees to the merger in writing.
<br />10. Mortgagc Insura�tce. IF Lender rec�uircd Mortgage Insurance as a cc>ndi[inn of making the Loan, Barrower shall
<br />pay Ihe premiums reyuireci to maintain lhc Mor[�age Insuranee in cffecl. If, for any reason, the 1Vlortgage Insurance coverage
<br />reyuire�l by I.ender ceases to Ue available froxn the mortgagc insurcr that previously provided such insurance and Borrower was
<br />required to makc tieparately �lesignated paymenls laward the premiums for Mort�age Insurance, Borrower shall pay the
<br />prcmiums required tu obtain coverage substantially equiv�lenC lo the Mortgage Insurance previously in effect, at a cost
<br />substantially equivalent to q�e cost tu Borrower c�f thc Mort�age Insurance previously in cffect, frc�rn an alternate mortgage
<br />insurer selected by Lender. If suhstanlially eyuivalent Mortga�;c Ins�u•ance coverage is not available, $orrower shall c�ntinue to
<br />pay lo Lcnder the �mc�unt nf the separately dcsignaled payments that were due wh�n lh� insuranee coverage ceased to be in
<br />effect. Lender will accept, use and retain these payments as a nc�n-refun�l�ble loss reserve in lieu of IVlortgage Insuranee. Sueh
<br />loss renerve shall be non-reFunclable, nocwithstancling the fact that the Loan is ullimately Paid in full, and Lender shall not be
<br />reyuire�l to pay E3orrower any interest or carnin�;ti on such loss reserve. Lender can nc� longer require loss reserve payments if
<br />Mortgage lnsurance coverage (in the amo�mt xncl for the period thal I,encler reyuires) provided by an insurer selected by L�:nder
<br />again becomes available, is obtained, and l,endcr requires separately desigc�ced paymenls toward the premiums for Mnrtgage
<br />Insurance. If Lender require�l Mcirtgage Insurance as a condition ot making the I.,oan and T3orrower was required to make
<br />tieparately designated payments tuward the premium5 for M<�rtgage Intiurance, Borrower shall pay the premiurns required to
<br />maintain Mortgage lnsurance in effccl, or to provi�le a�ion-refimdable loss reserve, until Lender's requirement fox Mortgage
<br />insurance enc15 in accnrcl�nce with any written agreem�nt bctween Borrower and I.en�ler providing for such termination or until
<br />termination is requi��ed by Applicable I.aw. Nc�thin�; in this Section 10 affects Borrower's obligation to pay interest at the rate
<br />provided in the Nate.
<br />Mortgage Insurance rciinbur5cs Len�ler (or any entity that purdiases the Note) for certain losses it may incur if
<br />i3orrower does not repay the I,oan as agreed. Borrower is nol a pa��ty to lhe Mortgage Insurance.
<br />Mor�tgage insurers evaluate clieir total risk nn all such instrr�nce in force from time to time, and may enter into
<br />agreements with cxher p<<rdes ihat share or itrodify their risk, ur reduce 1c�sse5. These agreements are on terrns and conditions
<br />that are satisfactory to the morl.gagc insurcr and thc other party (c�r paities) to these agreements. These agreements may require
<br />the rnortgage instrrer to make payments using any source of funcls that lhe morLgage insurer may hav�: available (which rnay
<br />includc funds oUtainul from Morlgagc lns�u�ance prem'rumsj.
<br />As a result uf these agreemenis, Lender, any purchascr of thc Nolc, anc�fher insarer, any r�insurer, any other �ntity, or
<br />any affilial� of any of thc forcgc.�ing, may receive (cJirectly or indirectly) amotmts t}iat derive from (or might be characterized
<br />as) a portic�n ol' Borrower's payments for Mort�a�e Insurance, in exchange for sharing or modifying the mort�;a�e insurer's
<br />risk, or rcducing losses. If such agrecment Provi�les that an aft�iliate of I,encler takes a share oF insurer's risk in exchange for a
<br />share of the prerniurns paid to the insurer, the arrangement is often tercned "captive reii�surance." f�urther:
<br />(a) Any such agreeme�rts will not aft'ect tlie amounts tl�at Borrower I�as agreed to pay for Mortgage Insurance, or
<br />any oltier terms of the Loan. Sucli agreemenls will nol inc�•ea5c ihe amc�unl �3�►rrower will owe fur Mortgage Insurance,
<br />and they will raot entitle l;orrower to any refund.
<br />(b) Any such agreeiuenCs will riot atfecl tlie ri�l�ls i3ora•ower has--iF any--wiCh respec�l lo lhe Mortgs�ge Insurance
<br />uuder the tlomeowners Prutection Act of 1»S or auy other law. '1'hese rights may include the right to receive certain
<br />disclu5ures, io rcque5l and oblain canccllali�m of lhe Mo�•tgage Insu�•a��ce, to have the Mortgage Insurance terminaled
<br />automatically, and/or to receive a reti�nd of any Morlgage Insuraiice premiums that were unearned at lhe time of such
<br />cancellation or tey
<br />11. Assignment of' Miscellaneous 1'roceeds; Forfcilure. All Miscellaneous T'roceeds are hereby assigned to and shall
<br />be paid to Lender.
<br />If the Property is damaged, such Mi�cellancous 1'roceecls shall be apPlicd lo restoration or repair of the 1'roperty, if the
<br />restoration or repair i� cconomically fcasiblc and Lendcr's securily is not lessened. lluring such repair and restoration period,
<br />I.endcr shall have the right to hold sucli Miscellane��us Proceeds until Lender has ha�l an npportunity tn inspect such Property
<br />to ensure the work hati hee�� cc�rnplc;tecl tc� I.,en�lcr's satislac[ion, proviaed lhal such inspection shall be undertaken promptly.
<br />Len�er mxy pay fc>r the repair5 and restnratiou in a single disbursement or in a series ot progress payments as the work is
<br />�ompletcd. Unless an agreement is niade in writirrg or Applicable i.aw reyuire� inlerest lo tx. paid on such Miscellaneous
<br />1'roceeds, Lencler shall nc>t b� rcyuired �o pay N3orrowcr aiay interest or earnings on such Miscellaneous Proceeds. If Che
<br />restoration or repair is nc>t ccnnc.�mically feasil�le or Lender's security would he lessened, the Miscellaneous Procec:ds shall be
<br />xpplied lc> the sums secured by this Security Instrument, whether or nol thcn due, with the excess, if any, paid to Borrower.
<br />Such Miscellaneous Procee�ls shall he �ppliecl in thc ordcr provided for in Section 2.
<br />In the evcnt of a total taking, �lestruction, or loss in value ul' the F'r��perty, the Miscellaneous T'roceeds shall be applied
<br />to the sutns secured by tliis 5ecurity lnstrument, whether or not tlien clue, wifh the excess, if any, paid to Borrower.
<br />N�BRASKA—Single Family--Fannie MaelFreddie Mac UNI�ORM INS7RUMENT �� Form 3028 1/09
<br />i]�n.•i/,l �
<br />8ankers Systems, Ina., 51. (:Ioud, MN Form MG-1-NE 8117/2U00 , ((�a�e ¢ nf 7 p[lbes) (/!�___.
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