201109333 - Laserfiche WebLink

Browse

201109333 90 Protecl3on of Lender's Inter�t in the Properiy and Rights Under this Secnrity Instrument If (a) Borrower fails to perform the covenants and agreements contained in this Sec�mty Inshvment, (b) there is a legal proceeding that might significantly affe�t Lender's interest in the Propem+ and/or rights under this SeCUilty Tn. ,�nen (such as a proceading in banl�uptcy, Probate, for conde�mation or forfeiture, for enforcement of a lien which may attain priarity over this Security Instrument or to enforce laws or regulations), ar(c) Borrower has abandoned the Property, then Lender may do and pay for wl�►er is reasonable or appropriate to protect Lender's interest in the Property and rights under this Sacurity Instramen�, including protecting and/or asses,sing the value of the Property, and se�uing and/or rePairing the Property. Lender' s ackions c� include, but aze not limited to: (a) paying any sunns s�ur� by a lien which has priority over this SecuritY �nsrivment� �b) aPPeaz'ing in court; and (c) PaYing reasonable attorneys' fe,es to prot�t its interest in the Properiy and/or rights under this S�arity Instcvment, including its secured position in a bankruptcy proc�eding. Seeuring the Property includes, but is not limited to, entering the Properly to make repairs, change locks, replace or board up daors and windows, drain watea from pipes, eliminate building or other cade violations or dangerous conditions, �d have utilities turned on or off. Although I.ender may take action under this Section 9, Lender does not have to do so and is not uader any duty or obligration to do so. It is agreed t1�at I.ender inca�rs no liability for not taking anq or all actions authorized under this Se�tion 9. Any amounts disbursed by Lendet under this Section 9 shall become additional debt of Boirower s�ured by this Security Inst�ent. Th�e amoimts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such i�est, upon notice from Lender to Bonower r�ng a p If tlus Security Instrument is on a leasehold, Boaower shall comply with all the provisions of the lease. If Borrower acquires fee titla to the Properiy, tha leasehold �d the f� title sha11 not merge uniess Lender agrees to the merger in writing. l0o Mortgage Insurance. If Lender re�uired Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums requirrerl to maintain the Mortgage Insurance in effect. I� for any reason, the 1Vlortgage Insurance coverage required by Lender ceases to be available &om the mortgage insurer that previously provided such insurance and Bonower was require� to make separately designated payments toward tha premiums for Mortgage Insurance, Bonower shall pay the premiwons required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivaleut to tha cost to Borrower of the Mortgage Insurance previously in effe�t, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Boirower shall continue to pay to Lender the amount of the separately desigaated paymevts that were due when the insarance coverage ce�sefl to be in effect. Lender will accept, use and retain these payments as a non refimdable loss reserve in lieu of Mortgage Insurance. Such loss reserva sUall be non refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall nat be required to pay Bonower any interest or earnings on such loss reserve. Lender c�n no longer require lo� reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer sele�ted by Lender again be�omes available, is otstained, and Lender requires separately designated payments towazd the premiums for Mortgage Insuranca. If Le�de� required Mortgage Insurance as a condition of mal�ing the Loan and Borrower was required to make separately de4iignated payments towatd the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insur�ce in effect, or to provide a non refimdable loss reserve, until Leader's requirement for Mortgage Insurance ends in accordance with any written agreement betw�n Borrower and Lender providing for such termination or until termination is requirefl 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 Lender (or any entity that purchases the Note) for certain lo� it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agr�ts with other pazties that share or modify their risk, or re�luce losses. These agree�ne,nts aze on terms and conditions that aze satisfactory to the mortgage insurer and the other pariy (or parties) to these agreements. These agreements may require the mortgage insurer to make paYments using anY source of fiwds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). 2200194778 D V6ANI� NEBRASKA - Single Family - Fannie Mae/Freddle Mac UNIFORAA INSTRUMFJNT WITH �-6A(NE) loetol Pa8e8 of 76 truttai • Form 3028 1/01 0