201100224 - Laserfiche WebLink

Browse

2011QOw�4 9. Protection of Lender's Interest in the Property and Rights Under this Securiry Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this 5ecurity Instrurnent, (b) there is a legal proceeding that rnight significantly affect I,ender's interest in the Property and/or rights under this Security Instrument (such as a proceedin�, in bankruptcy, probate, for condexnztation or forfeiture, far enforcement of a lien which may attain priority over this Security Tnstrument 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 ri�hts under tk�is Security Instrument, including protecting and/or assessing the value of the Property, and securing and/ar repairing the Property. Lender' s actions can include, but are not limited to: (a) paying any sums secured by a lien which ha5 priority over this Securiry Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to pr�tect its interest in the Property andlor rights under this Security Instrument, including its sECUred position in a banl:ruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change lock,5, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and iti not under any duty nr obligation. to do so. It is agreed that Lender incurs no liability for not taking any or all actions authvrized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These aznounts sha11 bear interest at the Note rate from the date of disbursement and shall be payab1e, with such interest, upon notice from Lender to Borrower requesting payment. If this 5ecurity Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee titl� shall not merge unl�ss Lender agrees to the rnerger in writing. 10. Martgage Insurance. If Lender required Mortgage Insurance as a condition af making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage 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 premiuma for MorCgage lnsurance, Borrower shall pay the premiurns required to obtain caverage substantially equivalent to the Mortgage Tnsurance previously in effect, at a cnst substantially equivalent to the cosi to Sorrower of the Mortgage Insurance previously in effect, from an alternate mort�a�e insurer selected by Lender. lf substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve sha11 be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall anot be required to pay Borrawer any interest or earnings on such ]osa reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for tha period that Lender requires) provided by an insurer selected by Lender again becames available, is obtained, and Lender requires separately designated payments toward the premiuzns far Mortgage Insurance. If Lender required Mortgage Insurance as a conditinn of making the Loan and 13orrower was required ta make separately designated payments toward the prerniums for Mortgage Insurance, Borrower shal] pay the premiunas required to maintain Mortgage Insurance in effect, or to pravide a non-refundable loss reserve, until I,ender' s requirement for Mortgage lnsurance ends in accordance with any written agreement between Eorrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Sorrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it znay incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mort�age Insurance. Mortgage insurcrs evaluate their total risk on all such insurance in force from time to time, and may enter into a�reements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortga�e insurer and the other party (or parties) to these agraement.s. These agreements may require the martgage insurer to make payments using any source of funds that the mortgage insur�r may have available (which may include funds obtained from Mortgage Insurance premiums). 231040 NEBRASKA - Single Family - Fannie M aelFreddie M ac UNIFORM INSTRUM ENT ((( �� ((( /// //J �� , ///'''�� l\ � -s(N�) (0811) PageB of 15 Initial$: x� �� Form 3028 '�/0� � `'� � V