201103673 - Laserfiche WebLink

Browse

201103573 9. ProE�tion of Lender's Intereat in the Property and Rights Under this Security Instrumen� If {a) Bortower fails to perform the covenants and agreemenYs contained in this Security Instrument, (b) there is a legal proceeding that might signif'icantly affect Lender's interest in tb.e Property and/or rights under this Security Instrument (such as a proceeding in banla�uptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Securiry Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Prog�rty, 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 andJor assessing the value of the Property, and securing and/or repairing the Properly. Lender's actions can include, but are not limited to: (a) paying airy sums secured by a lien which bas prioriry over this Security Instrument; (b} apgearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Properly andJor rights under this Security Instrument, including its secured position in a banl�uptcy proceeding. Securing the Properiy includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, dra.in water from pipes, eliminate building or oth�r code viota,tions or dangerous canditions, and ha.ve utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so, It is agreed tha.t Lender incurs no liability for not taking any or all actions authorized under this 5ection 9. A� amounts d.isbursed by Leuder 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 shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lea.se. If Borrower accZuires fee tifle to the Property, the leasehold and the fee tifle shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insutance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Tnsurance 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 �n�*ans= and Bonower was required to make separately designated payments towazd the premiums for Mortgage Insurance, Bonower shall pay the premiums required to obta.in coverage substantially equivalent to fhe Mortgage Insurance previously in effec#, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the segarately designa.ted payments fhat were due when the insurance coverage ceased to be in effect. Lender will accept, use an.d 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 fixll, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require Ioss 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 Lender requires separately designated payments toward the premiums for Mortgage Tnc�ransp. If Lender required Mortgage Insurance as a condition of making the Loan and Bonower was required to make separately designated payments towazd the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage 1'*►�?*ansp in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accorda.nce 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 Boaower's obligation to pay interest at the rate provided in the Note. Martgage Insurance reimburses Lender (or any entity that purchases the Note) foz certa.in losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers cvaluate their total risk on all such 1nc�rans= in force from time 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 aze satisfactory to the mortgage insurer and the other party (or pa.rties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds tha,t the mortgage insurer may have available (wluch may include funds obta.iued from Mortgage Insurance premiums). NEBRASKA - Single Family - Fannie Mae/Freddi� Mac t1NIFORM tNSTRUMENT `� � �-6(NE) tos� v Page 8 of 16 �nwa�s: " Fortn 3028 1t01 ��