201100204 - Laserfiche WebLink

Browse

�o�ioo�o4 9, Protection of L�nder's Interest in the Property and Ri�h�S Under this Security Instrument. If (a) �3orruwer fails to perfomi the cov�nanls and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in lhe Property and/or rights undcr this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnalion or forfeiture, for enforcement af a lien which may attain priority over this Security Tnstrument ar to enforce laws or regulatians), or (c) Borrower has abandaned the Property, then l.ender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in tlxc Property and rights und�:r this Security Instrument, including pratecting and/or assessing the value of the Property, and securing and/or repairing the Yroperty. Lender's actions can include, but are nat limited to: (a) paying any sums s�cured by a lien which has priority aver this Security Tnstrument; (b) appearing in court; and (c) paying rcasonable attorneys' fees tp protect its interest in Ihe Property and/or rights under this Sccurity Instrument, including its sccured position in a bankzuptcy proceeding. Securing the Pmperty includes, but is not limited to, entering thc Prop�rty to niake repairs, change: locks, replace or board up doors and windows, drain water from pipes, eliminate building c�r �ather code violations or dangerous condi[ians, and have utilities turned c�n or �ff. Although I.ender znay txke action under this Section 9, T.ender does not have to do so and is not under any duty ar obligation to do so. It is agreed that Lender incurs no liability fc�r nnt taking any or all actions auChorized under this Section 9. Any amounts disbursed by L.ender under this Section 9 shall become additional debt of Borrower secured by this Ser.urity Instrument. These amc�unks shall bear interest at the Note rate fram thr: date of disbursemcnt and shall be payable, with such int�rest, up�n notice from L.ender to Borrow�r r�questing paymcnt. If this Security Tnstrument is an a leasehold, Borrower shall comply with all the provisions of the lcase. If Borrower acquires fee title to lhe Property, the leasehold and the fee titic shall not merge unless Lender agrees lo th� rnerger in writing. 10. Mortgag� Insurance. If Lender required Mortgage Insuranc� as a condition of making the T.oan, Barrower shall pay the premiums required ta maintain the Mortgage Tnsurance in sffect. If, far any reason, the Mortgage Insurance c�veragc rcquired by Lender ceases to be available fmm lhc: zniartgage insurer that previausly provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurancc, Bc�rrc�wer shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Tnsurance previously in effect, at a cost substantially equivalent to the cost tca Bnrrvwer of the Mortgage Insurance previously in effcct, from an alternate mortgage insurer selected by I,ender. If substantially equivalent Mortgage Insurance coverage is not available, Borrowcr shall continue to pay to Lender the amount c�f [hr: separately designated payments that were due when [h� insurance coverage ceased to be in effect. I.,ender will accept, use and retain these paymcnts as a non-refundable loss reservc in lieu of Mortgage Insurance. Such loss IC5(:IVI: shall b� non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required lo pay Borrower any interest or earnings c�n such lUSS reserve. L.ender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period thaf I,ender requires) provided by an insurer selected by Lender again becomes available, is obtained, and L.ender requires separately dcsignated payments toward the premiums for Morkgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Barrower was required to make separately designated payments toward the premiums for Mortgage Inaurance, Borrower shall pay khe premiums rcquired to maintain Mortgage Insurance in effect, or t� prcrvidc a non-refundable loss reserve, until T.ender's requirement for Mortgage Insurance ends in accordance with any written agrcemc:nt between Borrower and L.ender providing for such tcrmination or until termination is required by Applicable I�w. Nc�lhing in this Section 10 affects Borrower's obligation tcy pay interest at the rate provided in the Note. Mortgage Insurance reimburses I...ender (ar any ontity that purchases the Note) for certain losses it inay incur if 13orrowcr dacs not repay the Loan as agreed. Borrower is not a party to thc Morigagc Insurance. Mortgage insurers evaluate their total risk on all such insurance in farce from time to tune, and may enter into agreements wilh c�lhcr parties that share or modify their risk, or reduce losses. These agreements are on terms and conditians that are satisfactory to the mortgage insurer and the other party (or parties) to these agreerr��nCs. These agreements may require the mortgage insurer to make paymenis using any source of funds that the rnortgage insurer may have available (which may include funds abtained from Mortgage Insurance preiniums). NEBRASKA - Single F�mily - Fannie Mae/Freddie Mac UNIFORM INSTRUM�N7' n �-61NE) loat t � Pxge 8 nf 16 inieiais:4� Form 3028 1I01