201100222 - Laserfiche WebLink

Browse

2U1104?22 9. Protection of Lender's Interest in the Property and Rights Under this $ecurity Instrument. If (a) Borrower fails to perform the covenants and agreernents contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priarity 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 of the Property, and securing and/or repairing the Property. Lender's actians can includa, but are not limited to: (a) paying any sutns secured by a lien which has priority over this Security Instrument; (b) appearing in caurt; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a banlcruptcy proceeding. Securing the Froperty includ�s, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditians, and have utilities turned on or off. Although L,Qnder may take action under this Section 9, Lender does not have ta do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actians authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. T'hese amounts shall bear intexest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice fram Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title ta the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Martgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage 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 to Borrower af the Mortgage Insurance pxeviously in effect, from an altemate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall conCinue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. I,ender will accept, use and retain these payments as a non-refundable lass reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. I.ender can na longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer s�lected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Martgage Insurance. If Lender required Mortgage Insurance as a candition of rnaking the Loan and Bot'rower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to rnaintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such terminatian or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reirnburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does nat repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate theix total risk on a11 such insurance in force from time to time, and may enter into agreernents with other parties that share or modify their risk, or reduce losses. These agreements are an terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the rnortgage insurex to make payments using any source of funds that the nnortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiurns). NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT �-BlNE11os>>1 PageB of 15 i�ivais: �� Form 3028 1l09 �