201108171 - Laserfiche WebLink

Browse

20110817� not destroy, damage ar impair the Property, allow the Propert�+ to detertorate or commit waste on the Property. Whether ar not 6arrower is residinc} in the Property, Borrower shall maintain the Qroperty in order to prevent the Property from deteriorating or decreasing in vatue due to its condition. Unless it is deterrr�ined pu�ua�tt to Sec�on 5 tha# repair or restoca�cu� is �o# econamically feasible, Bor;ower shall promp�y repair the Property if damaged to avoid further deterioration or damage. If insurance or eont�em�a#ican proceeds are paid i� cxinnec#ion avith damage �, of #he talcing af, the Proper�y, Barrovuer shatl be responsible for repairing or restoring the Property a►tly if Lender has released proc�eds for sach P+�rP�S. Lender may disbarse �roceeds #or the repairs and restoration in a single �ent rn in a series of progress payments as the work is completed. Ifi the insuranc� or condemnation proceeds are r�o# su#�ieierrt #o repai� or restore the Pro�erty, Bc�frow�r is not reiieved ofi Borrawer's obl�gation #or #he comptetion of such repair or restoration. Lender or its agent may make reasonable eritries upon and inspections of tMe Property. if it has reasonable cause, Lender may mspect the irtterior of �the improvements on the Property. Lender shall give �orrower rtotice at ti�e time of nr pFic�r #o suc� a� int�t� �spee�on speeifyir�g sucFi reascmable eacise. 8. Borrower`s Loan Application. Borrower shaN be in defaalt if, during the Loan applir,ation proc$ss, 9arrower ur any perrsons ar en#ities a�ting at tFje direc#on of Borrower or w� Borrawe+'s knowledge ar consen� gave materially false, misleading, or inaccurate information or stateme�tts fo Le�de€ {or �aile�i to provide Lendsr w'tth mate�al w�€orrt�ra#ian} in �nrtection wi��i the Loa:t. Materia4 representations indude, but are not limited ta, represer�tations canceming Bor�ower's occupancy of the Property as Borrawrer's pr+�cipal resider�ce. 9. Protection of Lende�'s Interest in the Property and Rights Under this Sscwriiy t��stcument tt (aj Bor�ouuer i�ils ta pert'orm the covenants and agreements contairied in this Security Instrume�t, (b) there is a legal praceeding that might significantly affeet Lende�'s interest in the Property and/or righ#s uruler this Security Ms##r�ment {such as a proceedirtg in ban�niptcy, pr'uba#e, �or condemnation or forFeiture, for erffarcement of a lien wti cFCh may attain prioriiy aver �his Seeurity I�strument o� #o enfiarce law+s oi reguiati�tsj, or {c} Borra�rer k�as aband�d t�e PropeEty, #hen L�nder may do and pay for v�hatever is reasortable or appropriate to protect l.ender's interest in the Properly and rights ut�r �is Security #nstrument, �rrc�ud'tn9 f��T�9 ��f asses�sing the vafue c�f the Rrop�rty, and securing artd/or repairing �e Pro�rty. Lender's actions c�n include, but are not tirrtited to: (a) paying any sums seeured by a tien �icf� I�as pric�ritjr over th�s Securi�y tristrurnet►�; (b) appearing in cx�trrt; arid (c) paying reasonabfe attomeys' fees to protect its interest in the Property and/or rights under this Securifiy Mstrument, induding its secured position in a bani�cruptcy proceed'mg. Sec,vring the Property includes, bert is not fimited to, erttering the Property to make repairs, change locics, reptace or board up doors and wir�dows, drain water frc�r� pi�es� �lirr�ina#e building ar� oi�e� eode vrolations c� d�r�gefae�s cvrtdi�ons, ar�d have ut`tlities tumed on or off. Afthough Lender may fake action under this Sectiot� 9, Lender does net have #o do sv anrJ is no# unrJer any dt�ty or abMga#iart to c� sa. I# is agre�i that Lender i�ct�rs nfl liability �or nat taking any or all actions aufhorEZed under 4�is Section 9. Any amounts disb�rs� by Lender under this �tiot� 9 shal� .becutne addit�nal d�bt o# Borrovuer secured by this Secu�iijr tnstrument. These amounts shatt bear interest at the Note rate #ror� the date of dis�rsemen# ane! shall bs payable, with such interest, upan r�tic� from Lender to Bo�rov�rFx reque�#in9 PaYmerrt. lf #tus Security Jnstrument is an a leasehald, florrauYEr shatl cQmRly �nrith all t�e prnvisions af the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Letzd� agrees ta th� merger ira ratitting. 10. Rllortgage lnsurance. If Lender required Mortgage Insurance as a cxindition of making t#ie loan, Bc�rrcwver sl�aW pay the pr�rn4ums required to mai�tain the Mrn#gage lnsurance in ef#eet. �#, #or any reason, the AAA�ortgage Inst�rance coverage required by Lender ceases to be available from the rr�ortgage insurer that previcn�sly prvvided such insctrartce and 8cxrower was required � make separately designatecf pa�m►ents tovuard the prerniums for �llortgage tns�tranc�e, Borrowrer shatl pay the�r'�s .�./ � 3 O O O 1 6 9'F 7'1 �* � M C M D O T�* NEBRASKd—Single Famfly-Fannle MaetFreddle Mac UNIFORAA INSTRUWIENT Form 3028 1/01 (page 7 of 14 pages) Flnale Qocument Servlces m 3027 0?J06