201100489 - Laserfiche WebLink

Browse

�V�� 9. Frotect"ron of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal praceeding that might significantly affect I.ender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or farfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Bozrower has abandoned the Property, then Lender may do and pay foar whatever is reasanable 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 actions can include, but are not limited ta: (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 positian in a banlmiptcy proceeding. Securing the Praperty includes, 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 conditions, and have utilities turned on or off. Although Lender rnay take action under this Section 9, L.ender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs na liability for not taking any or all actions authorized under this Sectian 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and sha11 be payable, with such interest, upon notice from Lender to Borrower requesting payment. . If this Security Instruznent is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Praperty, the leasehold and the fee title shall not merge unless Lender agrees to the rnerger in writing. 10. Mortgage Insurance. Tf 1.,ender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiurns required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available fram the mortgage insurer that pz'eviously provided such insurance and Borrower was required to rnake separately designated payments toward the premiums for Mortgage Insurance, Borrower sha11 pay the premiurns required to obtain coverage substantially equivalent ta the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Martgage Insurance previously in effect, from an alternate mortgage insurer selected by L,�nder. If substantially equivalent Mortgage Tnsurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payrnents 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 ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can na longer require loss reserve payrnents if Mortgage Insurance coverage (in the amount and for the period that L.ender requires) provided by an insurer selected by L,Qnder again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If L,end�r required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums far Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to pravide a non-refundable loss reserve, until L.ender's requirement far 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 I.ender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the L.oan as agreed. Borrower is not a party to the Mortgage Insurance. Martgage insurers evaluate their total risk on all such insuranc� in force from tirne to time, and may 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 agreennents. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insuxer may ha�e available (which may include funds obtained from Mortgage Insurance premiums). NEBRASKA - Single Family - Fannie MaelFreddie Mac UNIFORM INSTRUMENT �-BINE) �osii� PageB of 15 m�nais: � Form 3028 9/09 �