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201106590
<br />Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if
<br />damaged to avoid further deterioration or damage. If insurance or cantdemnation proce�ds are paid in
<br />conne�tion with damage to, or the taking o� the Property, Borrower sha11 be re�ponsible for repairing or
<br />restoring the Praperiy only if Lender has released proaeeds fox such purposes. Lender may disburse proceeds
<br />for the repaixs and restoraxion in a single payment or in a series of progess payments as the work is
<br />completed. If the insurance or condemnataon proceeds are not sufficient to repair or restore the Progeriy,
<br />Borrower is not relieved of Borxower's obligation.for the completion of such zepair or restoration.
<br />Lender or its agent may make reasonable entries upon�and inspections of the Property. If it has reasonable
<br />cause, Lender may inspect the interiar of the improvements on the Praperty. Lender shall give Borrower.
<br />natice at the time of or prior to such an interior inspection specifying such reasvnable ca.use. •
<br />8. Borrower's Loan Applicatiori. Bonower sha11 be in default if, during the Loan application process,
<br />Borrower or any persons or entities actiug at the direction of Borrower or with Borrower's knowledge or
<br />consent gave materially false, misleading, or inaccurate information oz stateme�ts to Lender (or failed to
<br />provide Lender with material informafiion} in connection with t6e Loan. Material representations include, but
<br />are not limited to, representations conceming Borrower's occupancy of the Properiy as Borrower's principal
<br />residence.
<br />9. Protection of Lender's Interest in the Property.aad Rights Under this Security Instrument If (a)
<br />Borrower fails to perfarm the covenants and agreements contained in this Se,curity Insteument, (!�) there is a
<br />legal procee@ing that might significantly affect Lendei's inter�t in the Property andlor rzghts under this
<br />Security Instrument (such as a proceeding in banla�uptcy, probate, for condemnafion. or forfeiture, for
<br />enfarcement of a lien which may attain priority over this Security instrument or to en£orce Iaws or
<br />regulations), or (c} Bonower has abaadoned tbe Property, tken Lender may do and pay for whatever is
<br />reasonable or appropriate to protect Lender's interest in the Property and righi� under this Security Instrumen#,
<br />including profiecting and/or assessing the valua of the Propeity, and secoring and/or repairing the Property.
<br />Lender's actions can include, but are not limited to: (a) paying any sums secured by a Iien which has priority
<br />over this Security Tnsirument; (b) appearing in eourt; and (c) paying reasonable attorneys' fees to pxotect its
<br />interest in the Property and/or rights un.der this Security Instrument, including its secured position in a
<br />bankruptcy proceeding. Securing the Property includes, but is not Iimited to, entering the Property to.malce
<br />r.epairs, change locks, replace or board up doors and windows, drain water .from pipes, elim�inYate buildittg or
<br />other code violatzans or dangeraus cottditzons, and }zave util�i.ties turned on or off. Although Lender may take
<br />aetion under this Secfion 9, Lender does not have to clo so and is not under any duty or obligation to do so. It
<br />is agreed that Lender incuts na liahility for not taking any or ald actions authorized under this Section 9.
<br />A.ny amounts disbursed by Lender under this Section 9 sha11 become additional debt of Borrower secured
<br />by this Security InsLrument. These amounts shall bear i�erest at the Note rate from the date of disbursennenf
<br />and sha11 be payable, with such interest,' upon notice'from Lender to Borrower requesting payment.
<br />If this Security Instrument is on a leasehold, Bortower sha11 comply with all the provisions of the lease. Tf
<br />Bozrower acquires fee title to the Froperty, the Ieasehold and �e fee ritle shall not merge unless Lender agrees
<br />to the merger in writing.
<br />10. Mortgage Insurance. If Lender r.equired Mortgage Insurance as a conditioa of making the Loan,
<br />Bozrower shall pay the premiums required to mainY.ain the Mortgage Tnsurance in effect. I� for any reason, the
<br />Mortgage Insurance coverage required by Lender ceases to be available from the mortgaga insurer that
<br />prerriously provided such insurance and Borrower was required to make separately d�signated payments
<br />toward the premiums for Mortp,age Insurance, Borrower shall pay the premiums required to obta3n coverage
<br />substantially equivalent to the Mortgage Innsvrance previously itt affect, at a cost substantially, equiva[ent to the
<br />cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected
<br />by Lendex, If substantiaJ.Iy equzvalent Mortgage Insurance coverage is not available, Borrower sha11 continue
<br />to pay to Lender the amount of the separately designated paymeats that were due when the insurance coverage
<br />ceased to be in effect. Lender will accept, use and retain these as.a non-zefundable loss reserve in
<br />lkeu of Mortgage Insurance. Such Ioss reserve shall be non-refundable, notwitfhstanding the fact t1�at the Loan
<br />is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such
<br />loss reserve. Lec►der can no longer require loss reserve payments if Mortgage Insurance coverage (in. the
<br />amount and for the period that Lender requires) . provided � by an insurer selected by Lender again becomes
<br />available, is obtained, �d Lender reqwires separately c3esignated payments toward the premiums for Mortgage
<br />Insurance. If Lender required Mortgage Insurance as a condition of maicing the Loan and Borrower was
<br />required to make sepmxtely designated payments toward the premiums for Mortgage Insurance, Borrower sha11
<br />NEBRASKA- Single Family = FannteN{aeiFreddteMac UNiFORM INSTRUMENT
<br />Form 3028 4101 �
<br />I.�er Forms U�c. (SQ6} 448-3555 t/J/� rC
<br />���� � Page7 of 13 Init[als: � e
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