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<br />Loan No: 60188302 Data ID: 523
<br />5. Property Insw�enee. Bonower shall keep the improvements now ee�ssting or hereafter erected
<br />on the Property insured against loss by fire, ha�ards included within the term "extended coverage; and
<br />any other hazards including, but not limited to, earthquakes and floods, for which L.ender requires
<br />insurance. This insurance shall be maintained in the amounts (including deducu'ble levels) and for the
<br />periods that I.ender requires. What L.ender requires pursuant to the preceding sentences can change
<br />during the term of the I.oan. The insutance carrier providing the insurance shali be cfiosen by
<br />Bonower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised
<br />unreasonably. I.ender may require Borrower to pay, in connection wlth this Loan, either: (a) a
<br />one-tIme charge for flood zone determination, certifrcation and tracking services; or (b) a one-time
<br />charge for flood wne determination and certification sen+ices and subsequent charges each time
<br />remappings or similar changes occur which reasonablq might affect such datermination or certiffcation.
<br />Bonower shall also be responsible for the payment of any fees imposed by the Federal Emergency
<br />Management Agenry in connection with the review of any flood zone determination resulting from an
<br />objection by Borrower.
<br />If Bonower fails to maintain any of the coverages described above, Lender may obtain insurance
<br />coverage, at L.endeYs optiott and Borrower's expense. Lender is under no obGgauon to purchase any
<br />particular type or amount of coverage. Therefore, such coverage shall cover I.ender, but might or might
<br />not protect Boaower, Borrower's equity in the Property, or the contents of the Property, against any
<br />risk, hazard or liability and might provide greater or lesser coverage than was previously in effect
<br />Borrower aclmowledg� that the cost of the insurance coverage so obtained mught significandy exceed
<br />the wst of insurance that Bonower could have obtained. Any amounts disbursed by I.ender under this
<br />Section 5 shal! become additional debt of Borrower secured by this Security Instrument, These
<br />amounts shall bear interest at the Note rate from the date of disbuisement and shall be payable, with
<br />such interest, upon notice from L.ender to Borrower requesting payment.
<br />All insurance policies required by I.ender and renewals of such policies shall be subject to
<br />Lettder's rlght to disapprove such policies, shall include a standard mortgage clause, and shall name
<br />I.endet as mortgagee and/or as an addidonal loss payee. Lender shall have the right to hold the
<br />policies and renewal certificates. If Lender requires, Borrower shall prompfly giva to Lender all
<br />receipts of paid premiums and renewal notices. Tf Borrower obtains any form of insurance coverage,
<br />not oWerwise required by I.ender, for damage to, or destruction of, the Property, such policy shall
<br />include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss
<br />PaY�.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender.
<br />Lender may make proof of loss if not made pmmpfly by Bonower. Unless Lender and Borrower
<br />othetwLse agree in writing, a� insurance proceeds, whether or not the underlying insurance was
<br />required by Lender, shall be applied to restoration or repair of the Property, if the restontion or repair
<br />is economirally feasible and Lender's security is not lessened. During such repair and restoration
<br />period, I.ender shall have the right to hold such insurance proceeds unU7 I.ender has had an
<br />opportunity to inspect such Property to ensure the work has beea oompleted to Lender's satisfaciion,
<br />provided that such inspection shall be undertaken prompdy. I.ender may disburse proceeds for the
<br />repaus 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
<br />such insurance proceeds, Lender shall not be required to pay Bonower any interest or eatnings on such
<br />proceeds. Fees for pubiic adjusters, or other third parties, retained by Botrower shall ttot be paid out
<br />of the insurance proceeds and shall be the sole obligation of Borrower. If the restoraUon or repair is
<br />not economicalty feasible or LendePs security would be lessened, the insurance pmceeds shall be
<br />applied to the sums se�vred by this Securlty Instrument, whether or not then due, with the excess, if
<br />any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in
<br />Section 2.
<br />If Bonower abandons the Properry, L.ender may file, negotiate and settle any available insurance
<br />claim and related matters, ff Borrower does not respond witfiin 30 days to a notice from Lender that
<br />the insurance carrier has offered to settle a clatm, then Lender may negotiate and settle the claim. The
<br />30-day period will begin when the notice is given. In either event, or if Lender acquires the Property
<br />under Section 22 or. otheivvise, Borrower hereby assigns to I.ender (a) Borrower's righu to any
<br />insurance proc�eds in an amount not to eaceed the amounts unpaid under the Note or this Security
<br />Instrument, and (b) any other of Borrower's rigfits (othar than the right to any refund of unearned
<br />premiums paid by Borrawer) under all insurance poHcies wvering the Property, insofar as such rights
<br />are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair
<br />or restore the Properry ar to gay amounts unpaid under the Note or ihis Security Instrument, whether
<br />or not then due.
<br />6. Occupqncy. Borrower shall occupy, establish, and use the Properry as Borrower's prIncipal
<br />residence within 60 days afrer the egecution of this Security Instrument and shall c�ntinue to occupy
<br />the Property as Borrower's prinapal residence for at least one year after the date of occupancy, unless
<br />L.ender otherwise agreea in writing, which consent shall not be unreasonably wltt►held, or unless
<br />extenuating circumstances exist which aze beyond Borrower's conuol.
<br />NEBRASKA VA DEED OF TRUST Fo� �rta um (aega s ot» aeg��
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