|
201200039
<br />Lender shall notify Borrawer as required by RESPA, and Borrower shall pay to Lender the amount necessary to make
<br />up the shartage in accordance with RESPA, but in no more than l2 manthly payments. If there is a deliciency of
<br />Funds held in escrow, as defined under RESPA, Lender shall notify Borrvwer as reyuired by RESPA, and Borrower
<br />shall pay to Lender the amount necessary to make up the deficiency in accordance with RLSPA, but in no more than
<br />12 monthly payments.
<br />Upon payinent in full of all sums secured by this Security [nstrumcnt, Lender shall promptly refund to Boreower
<br />any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all ta�ces, assessments, chargc;s, tines, and impositions attributable to
<br />the Properey which can attain priority over this Security Instrument, leasehold payments or ground rents on the
<br />Peoperty, if any, and Community Association Dues, Fees, and Assessments, it any. To the extent that these items
<br />are Escrow ltems, Borrower shall pay them in the manner provided in Section 3.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:
<br />(a) agrees in wriking to the payment o1'the obligation secured by the licn in a manner acceptable to Lender, but only
<br />so long as Sorrower is performing such agreement; (b) contests the lien in good faith by, or defends against
<br />enforcement of the lien in, legal proceedings whic.h in Lender's opinion vperatc to prevent the eniorcement of the lien
<br />while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder
<br />of the lien an agreement satisfactory to Lender subordinating thc lien to this Security Instrument. lf Lender
<br />determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument,
<br />Lender may givc Borrower a notice identifying the lien. Within 10 days of thc date on which that notice is givcn,
<br />Borrower shall satisfy the lien or take one or more oF the actions set Corth above in this Section 4.
<br />Lender may require Borrower to �ay a one-time charge foe a real estate tax verification and/or reporting seevice
<br />used by Lender in connectian with this Loan.
<br />5. Property Insurance. Borrower shall keep the improvements now cxisting or hereafter erected on the
<br />Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards
<br />including, but not limited to, earthyuakes and floods, for which Lender requires insurance. This insurance shall be
<br />maintained in the amounts (including deductible levels) and for the periods that Leoder requires. What Lender
<br />requires pursuant to the preceding sentences can change during the term of thc Loan. The insurance carrier providing
<br />the insurance shall be chosen by E3orrower subject to Lender's right to disapprove I3�rrower's choice, which right shall
<br />not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-
<br />time charge for flood zone determination, certification and tcacking services; or (b) a one-tin�e charge I'or flood zone
<br />determination and certification services and subsequent charges each time remappings or similar changes occur which
<br />reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of
<br />any fees imposed by the Federal Emergency Management Agency in connection with the review of any fload zone
<br />determination resu(ting from an objection by F3orrower.
<br />If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at
<br />Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount
<br />of coverage. Therefore, such coverage shail cover Lender, but might or might not protect Borrower, Borrower's
<br />equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater
<br />or lesser coverage than was previously in etTect. Bonow�r acknowledges that the cost of the insurance coverage so
<br />obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed
<br />by Lender under this Section 5 shail become additional debt of Borrower secured by this Security [nstrument. These
<br />amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest,
<br />upon notice from Lender to Borrower reyuesting payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject tv Lender's right to
<br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an
<br />additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires,
<br />Borrower shall promptly give to Lender all receipts of paid premiums and rene�val notices. I f f3orro�aer obtains any
<br />form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such
<br />policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss
<br />payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make
<br />proof of loss if not made promptly by Bvrrower. Unless Lender and Borrower otherwise agree in writing, any
<br />insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration
<br />or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened.
<br />During such repair and restoration pc;riod, Lender shall have the right to hold such insurance proceeds until Lender
<br />has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,
<br />provided that such inspection shail be undertaken promptly. Lender may disburse procecds for the repairs and
<br />restoration in a single payment �r in a series of progress payments as the work is completed. Unless an agreement
<br />is made in writing or Applicable Law reyuires interzst to be paid on such insurance pr�ceeds, Lender shall not be
<br />required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties,
<br />retained by Borrower shall not be paid out of the insurance proceeds and shall be the solc obligation of Borrower.
<br />If the restaration or repair is not economically feasible or Lender` s security would be lessened, the insurance proceeds
<br />shail be applied to the sums secured by this Security lnstrument, whether or not then due, with the excess, if any, paid
<br />to Borrawer. Such insurance 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 has
<br />offered to settle a claim, then Lender may negotiate and settie the claim. The 30-day period will begin when the
<br />notice is given. [n either event, or iP Lender acquires the Property under Section ?2 ar otherwise, Borrower hereby
<br />NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Doc16leglc ��
<br />Form 3028 1/01 Page 4 of 11 www.docmagic.com
<br />
|