201100324 - Laserfiche WebLink

Browse

�oiioo3�4 9. Protection af Lender's Ynterest in the Property and Rights Under this Security Instrument. Tf (a) Borrower fails to perform the covenants axxd agreemenCs contained in this Security Instrument, (b) there is a legal proceeding that might signi�cantly affect I,�nder's interest in the Property and/or rights under this Security Instrurnent (such as a proceeding in banlmiptcy, probate, for condennnation ar forfeiture, for enforcement of a lien which rnay attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then I.ender may do and pay for whatever is reasonable or appropriate to pratecc L.ender's interesC 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 actions can include, but are not lirnited to: (a) paying any sums secured by a lien which has priority over this Security instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to pxotecC its interest in Che Property and/or rights under this Security Tnstrument, including its secured position in a banlcruptcy pxoceeding. Securing the Property includes, but is not limited to, entering the Property to rnake repairs, change locks, replace or board up doors and windows, drain water from pipes, elimurate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take actian under this Section 9, I.ender does not have to da 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 actions autho�zed under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instnunent. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice frorn Lender to Barrower requesting payment. If this Security Instrument is on a leasehold, $orrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not rnerge unless Lender agxees ta the merger in writing. 10. Mortgage I�urance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shiall pay the premiums required co maintain the Mortgage [nsurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available frozn the mortgage insurer that previously pmvid� sueh insurance and Borrower was required to make separately designated payments toward the premiwns for 1Wlortgage Iz►surance, Borrower shaJl 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 of the Mortgage Insurance previously in effect, frozn an alternate mortgage insurer selected by Lender. If suUstantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to I.,ender che annount 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 shall be non-refundable, notwithstanding the fact that the Loan is ultirnately paid in ful1, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and T.ender requires separately designated payrnents toward the prerniurns for Mortgage Insurance. If Lender required Mortgage Insurance as a condition af making the I.oan and Borrower was required to make separately designated payznents 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 requireri�ent for Mortgage Insuraz�ce ends in accordance with any written agreement between Borrower and Lender providing for such terimination 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 reimburses Lender (or any entity that purchases the Nate) for certain losses it may incur if Borrower does not repay the L.aan as agreed. Barrower is not a party to the Mortgage Insurance. MoRgage insurers evaluate their tota� risk on all such insurance in force from time ta time, and may enter into agreernents with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreernents. These agreernents may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiutns). NEBRA$KA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT �-s(��) (0811) Page 8 of 15 �nitia�s: J Form 3028 �/�� � ��. � \ V