201100488 - Laserfiche WebLink

Browse

2�1iQD48� 9. Protection of Lender's Interest in the Pro�erty and Rights Under this Security Instrument. If (a) Borrower fails to perfarm the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/ar rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnatian or forfeiture, for enforcement af a lien which may attain priority over this Security Instrument or to anforce 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 Propecty, and securing and/or repairing the Property. L.ender's actions can include, but are not limited 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 protect its interest in the Property and/or rights under this Security Instrurnent, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up daors and windows, drain water from pipes, elizninate 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 is noC under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any arnounts disbursed by Lender undec this Section 9 sha11 become additional debt of Borrower secured by this Security Instrument. These arnounts sltall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower 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 nat merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If L.ender 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 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 prerniums for Mortgage Insurance, Borrawer shall pay the premiurns 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 previausly in effect, fram an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue Co pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. L.ender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. 5uch loss reserve shall be non-refundable, notwithstanding the fact that the L,oan is ultimately paid in full, a�nd L.ender shall not be required ta pay Borrower any interest or earnzngs 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 becames available, is obtained, and Lender requires separately designated payments toward the premiurns for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the i,oan and Borrower was required to make separately designated payrnents 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 requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination 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 L.ender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to tirne, and rnay enter into agreements 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 agreements. These agreements rnay require the mortgage insurer ta make payments using any source of funds that the mortgage insurer may have available (which rnay include funds obtained from Mortgage Insurance premiums). NEBRASKA - Single Family - Fannie MaelFreddie Mac UNIFORM INSTRUMENT`"'� �-6�NE) �oat t� Paae a ot i5 Initials _ • Form 3028 1/01 �