201206729 - Laserfiche WebLink

Browse

201206729 services and subsequent chnrges each time remappings or similar changes occur which reasoi�zbly might affect such deteeminatimi or certification. Boreower shall also be eesponsible for the payment of any fees imposed by thc Federal Emergency Manageme�t Agency in wnnection wi[h the review of any flood wnc deterinination resulcing from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender 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 wverage shall cover Lender, bnC migh[or mi�ht not protect Borrower, Burrower's equiTy in Che Proper[y, or the contents of the Property, against any risk, huard or liability and might provide grenter or lesser coverage than was previously in effect. Sorrower acknowledges thaf Che cost of the insorance coverage so obtained mighC significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower securecl by this Securiry Instrument These amounts shall bear interest at the A'ote rate from the date of disburswnent and shall be payablc, with such interest, upon notice from Lei�der to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall bc subject to Lender's right to disapprove such policies, sl�all include a standard mortgage clause, and shall name Lender as moelgagee and/or as an additional loss payee. Lender shalf have the right to hold the policies and renewal certificaces. If Lendcr requires, Horrower shall promptly givc to Lendcr all receipts of'�eid premiums and renewal noticcs. if Borrower obtains any forn�oP insurance covcrage, not otheawise ru�uired by Lender, for damage . to, or desu�uction of, the Proporty, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/oe as an additional loss payee. In thc event of loss, Borrower shall give prompt notice to the insurance carricr and Lender. Lender may make proof of loss if not made promptly by Borrower, iJnless Lender and Sorrower otheawise agree in , writing, any insurance peoceeds, whether or not the underlyittg insurance was required by Lender, shalL be appLied to resCoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and resWration period, Le�der shall have the right to hold such inswance proceeds until Lev�der has had an o�portuniry W inspect such Properry to ensure the work hac been completecl W Lender's satisfacfion, provided that such ii�spection shal] be undertal<en promptly. LenAer may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreemenY is made in writing or Applicable Law . requires intorest to be paid on such insura�ce proceeds, Lender shall not be required to pay Rorrower any i��tcrest or earnings on such proceeds. Fees for pu6lic adjusters, m-other third par[ies, reteiued by Rorrower shall not be paid out of tl�e insurancc proceedc and shall be the sole obligation of Borrower. If tlie restoration or repair is nof ecronomically feasible or I,ender's security would be lessened, the insurance proceeds shall be applied to Lhe sums secured by this Seeurity lnstrument, whether or not then due, witl�the excess, if any, paid to Borrower. Such insurance proceeds s[�all be applied in the order provided for in Section 2. lf Boeruwer abandons die Yroperty, Lender may file, negotiate and set[le any available insurauce claim and relxted matters. if F3orrower does not respund within 30 days to a i�otice from Lerider that the insurance carricr has offered to settle a claim, then Lender may negotiate and settle tha clai�n. The 30-day period will begin when the notiue is given. in either event, or if Lender acqtires Yhe Yroperty under Sectio��22 or otherwise, Borrower liere6y assigns to T ender(a)Iiorrower's rights to auy insurance proceeds in an amount not to exceed the aexeounts�npaid under f.he Note or this Security Instrament, and(b) any other of Bm�rower's rights (other than Yhe right to any reTimd of unearned premiums paid by Borrower)unde��all insttrance policies covering the Property, insofar as such righfs are appliwble to the coverage of the Property. I.ender may use the insorance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Secnrity Instrument, whether or not thcn due. 88012v22fi8 BB0f2522fi8 NEBRASKA-Single Femily-Fannie MaelFretldie Mac UNIFORM INSTRUMENT WITH MERS Form 3026 1101 VMP� VMPBA(N�(1105) W ollars Kluw er Flnanciel 5arvlces PeAe 1 of�]