201200826 - Laserfiche WebLink

Browse

201200826 services and subsequent charges each time remappings or similar changes occur which reasonably might affcct such determination or certification.Borrower shall also be responsiUle for the payment of azry fees imposed by the Federal Emergency Management Agency in comiection with the review of any flood zone determinacion resulting from an objection by Bonower. If Borrower fails to maintain any of the coverages described abovc,Lcnder may obtain insurance coveragc, at Lender's option and Borrower's expense.Lender is under no obligation to purchase any particular type or amount of coverage.Therefore,such coverage shall cover Lender,but might or might not protect Borrower, Borrower's equity in the Property,or the contents of fhe Property,against any risk,hazard or liability and might��rovide greater or lesser coverage than was previously in effecL Borrower acknowledges that[he cosl of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could havz obtained.Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security InstrumenY.These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable,with such interest,upon notice from Lcndcr to Bon�ower requesting payment. All iusurance policics required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies,shall include a standard mortgage clausc,and shall namc Lender as mortga�ee and/or as an additional loss payee.Lender shall have the right to hold the policies and renewal certificates. If Lender requires,Borrower shall promptly give to Leuder all receipts of paid prenuwns and renewal notices. If Borrower obtains any form of insurance coverage,not otherwise required by Lender,for damage to, or destrucuon o£ the Pioperty,such policy shall include a standazd mortgage clause and shail name Lender as mortgagee and/or as an additional(oss payce. In the event of loss,Bon-ower shall give prompt notice to the insurance caixier and Lender.Lender may make proof of Ioss if not made prompdy by Borrower.Unless Lender and Borrower otherwise agree in writine,any insurance proceeds,whether or not the underlying insurancz was required by Lender,shall be applied to restoration or repair of the Property;if the restoration or repair is economically feasiblc and Lender's security is noc lessened.During such repair and restoration period,Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completut to Lender's satisfaction,provided that such inspection shall be undertaken pron�ptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as thz work is completed.Unless an agreemeut is made in writing or Applicable La�v requires interest to be paid on such insurance proceeds,Lender shall not be required co pay Borrower any interest or earnings on such procu ds. Fc:es for public adjusters,or other third parlies,retaincd by Sorrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened,the insurance proceeds shall be apptied to the sums secured by this Securiry Instrument;whether or not then due,with the excess,if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property,Lender may file,negotiate and settle any available insur�ce daim and related matters.If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claiui,flien Lender inay negotiate aud setde the claim. The 30-day period will begin when the notice is given.In either evenC, or if Leuder acquires the Property wider Sectiou 22 or otherwise,Borrower hereby assigns to Lender(a)Borrower's rights to any insurance proceeds in an amount not to exceed the amotmts impaid under the Note or this Sccurity lnstrument,and(b)any other of Borrower's rights(other thu�tl�e right to any refund of unearned premiums paid by Borrower)uuder all insurance policies coveriug the Prope�-ry,insofar as such rights are applicable to the coverage of the Properry.Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Securiry Instrument, whether or noC then due. 8801142747 8807142?47 NEBRASKA-Single Family-Fannie MaelFredcie Mac UNIFORM INSTRUh"ENT WITH MERS Form 3020 170^�. `JMP� VMPfiA(NE)(1105j 4VOHers Kluwer Flnancial Services Page 7 of 17