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201204254. floods, for which Lender requires insurance. This insurance shall be malntained in We amounts (including deductible levels) and for We periods that Lender requires. What Lender requires pursuant to We preceding sentences can change during the term of the Loan. The insurance canier providing the instuance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, wl�ch rlght shall not be exercised unreasonably. Lender may req�re Borrower to pay, in connecflon with this Loan, either: (a) a one-time charge for flood zone determinallon, cerdfication and tracking services; or (b) a one-time charge for flood zone determinadon and cerNflcaflon services and subsequent charges each dme remappings or similar changes occur which reasonably might affect such determination or certlficaflon. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connecHon with the review of any flaod zone determinaflon resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligadon 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 We contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the lnsnrance coverage so obtained might signiflcandy exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Sectlon 5 shall become additional debt of Bonower secured by this Security Inshvment. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance pollcies required by Lender and renewals of such policies shall be subject to Lender's rlght to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an addidonal loss payee. Lender shall have the rlght to hold the poHcies and renewal certificates. If Lender requires, Borrower shall prompdy give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destructlon of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an addi8onal loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made prompdy by Borrower. Unless Lender and Bonower otherwise agree in writing, any 9nsurance proceeds, whet}►er or not the underlying insurance was required by Lender, shall be applied to restoraHon or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds undl Lender has had an opportunity to insgect such Property to ensure We work has been completed to Lender's satisfaction, provided that such inspecflon shall be undertaken prompdy. Lender may disburse proceeds for the repairs and restorallon in a single payment or in a serles of progress payments as the work is completed. Unless an agreement is made in wrlting or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, IQEB�►S� — Siugle FamilY -- Fannie MfldFraddio Mea UNDFORbI IN�1'RUbIffiV'P Form 3028 01 ,/J/ _' GCG G3028-07 (09/Ol) (Page 7 of19) Initials: Y�