|
�oi�o�s90
<br />hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This
<br />insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender
<br />requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to
<br />disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower
<br />to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification
<br />and tracking services; or (b) a one-time charge for flood zone determination and certification services and
<br />subsequent charges each time remappings or similar changes occur which reasonably might affect such
<br />determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the
<br />Federal Emergency Management Agency in connection with the review of any flood zone determination
<br />resulting from an objection by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage,
<br />at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or
<br />amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower,
<br />Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might
<br />provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the
<br />insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have
<br />obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower
<br />secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of
<br />disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting
<br />payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or
<br />as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender
<br />requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower
<br />obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of,
<br />the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or
<br />as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may
<br />make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing,
<br />any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to
<br />restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is
<br />not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance
<br />proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed
<br />to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse
<br />proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is
<br />completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br />insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds.
<br />Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance
<br />proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or
<br />Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this
<br />Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance
<br />proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and
<br />related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier
<br />has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin
<br />when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise,
<br />Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed
<br />the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other
<br />than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the
<br />Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance
<br />proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security
<br />Instrument, whether or not then due.
<br />Form 3028 7/01
<br />NEBRASKA - Single Family - Fannie Mae/Freddle Mec UNIFORM INSTRUMENT Initials /10
<br />NE/4XXTBLAKE00000000000622049N Wolters Kluwer Financial Services VMP� e9
<br />
|