201108353 - Laserfiche WebLink

Browse

201108353 9. Protectton of Lender's Interest in the Property and Rights Under this Security Instrame.�t If (a) Borrower fails to perform the covenants and agreements containe3 in ttris Security Ins�t, (b) th�re is a legal proceading that might significantly affect Lender's interest in the Property andlor rights imder tlus Security Instcument (such as a proceeding in bankruptcy, Probate, for conde�mation or forfeiture, far enforcement of a lien wlrich may attain priority over this Security Instnunent ar to enforce laws ar regulations), ar(c) Borrower has abax►doned the Property, then Lender may do and pay for whateve,r is reasonable or appropriate to protect Lender' s interest in the Property and riglrts under this Sean'itY Instrument, including protecting and/or assessing the value of the Property, and securing and/or r�sirin8 the Property. Lender's actions can include, but aze not limited to: (a) paying any sums secured 1�y a lien wluch has priority over this Security Instrument, (b) aPP�S in court; mid (c) paying reasanable attorneys' fees to protect its int�est in the Properiy and/ar rights under this Security Inst�nent, includin$ its securefl position in a bankruptcy proceeding. Securing the Property includes, but is nat limited to, entering the Propexly to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations ar dangerous conditians, and have utilities tuua�ned on or off. Although Lend�r may take action under this Section 9, Lender dces nat have to do so � is not under any duty ar obligation to do so. It is agreed that L�der incurs no liability far not taking any or all actions authori�ed under tlris Saction 9. Any amoimts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Securiiy Inshvment. These amounts shall bear interest at the Note rate fiom the date of disbursement and sball be payable, with such interest, upon notice from I.ender to Boa'ower requesting t pa �I�f this Security Instrument is on a leasehold, Borrower shall comply with all the provisians af die lease. If Bonower acquires fee title to the Property, the leasehold �d the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender requirefl Mortgage Insurance as a condition of malcing the Loan, Horrower shall pay the premiums require� to maintain the Mortgage Insurance u�► effect. If, for aY►y reason, the Martgage Insurance coverage required by Lender aeases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated p�yments toward the premiimos for Mortgage Insurance, Bonower shall pay the premiums reQnired to ubtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost sulsst�nti�lly equivatent to the cost to Borrower of the Mortgage Insurance previously in effect, from aY► alteanate mortgage insurer selected by Lender. If substantially equivale,nt Mortgage Insurance coverage is n� available, Horrower shall continue to pay to Lender the amount of the separately designated paymeats that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payme�ts as a non refundable loss reserve in lieu of Mortgage Insurance. S�ch loss reserve shall be non refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall n� be required to pay Borrower any interest or earnings on such loss reserve. L�der can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that L�cie�' requires} pravided by an insurer sele�ted by Lender again becomes available, is obtained, and I.ender requires separately designated payments tovvard the premiums for Mortgage Insurance. If Lender require8 Mortgage Insurance as a condirion of making the Loan and Bonower was required to malce szparately d�i�°ated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non refimdable loss reserve, until L�der's requirement for Mortgage Insurance ends in accordance with any written agreeme,nt between Borrower and Lender providing far such termination or until termination is require� by Applicable Law. Nothing m this Section 10 affects Borrower' s obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain lo�es it may incur if Borrower does not repay the Loan as agreed. Borrower is not a parly to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and maY enter into agreements with other parties that share ar modify their risk, or re�iuce losses. These agreements are on ternos and conditions that aze satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreem�ts may require the mortgage insurer to make payments usuig any source of fimds that the martgage insurer may have available (which may include fimds obtained from Mortgage Insurance premiums): 2200173107 N�RASKA - Single Family - Fannie Mae/Freddle Mac UNIFORM INSTRUMENT WITH �-BA�NE� (0810) Pepe 8 of 15 Iniiida: /�. �' � D �T6AN� Form 3028 1/01