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2U120�643
<br />not be exercised unreasonably. Lender ma.y require Borrower to pay, in connection with this Loan, either: (a) a one-
<br />time chazge for flood zone determination, certification and tracking services; or (b) a one-titne chatge for flood zone
<br />determination and certification services and subsequent charges each time remappings or similaz changes occur which
<br />reasonably might affect such deternunation or certification. Bonower 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 flood zone
<br />detemunation resulting from an objection by Bonower.
<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 shall cover Lender, but might or might not protect Bonower, Bonower's
<br />equity in the Property, or the contents of the Properly, against any risk, hazard or liability and might provide greater
<br />or lesser coverage than was previously in effect. Bonower acknowledges that the cost of the insurance coverage so
<br />obtained might significantly exceed the cost of insurance that Bonower could have obtained. Any amounts disbursed
<br />by Lender under this Section 5 shall become additional debt of Bonower secured by this Security Instrument. These
<br />amounts shall bear interest at the Note rate from the date of disbursement and sha11 be payable, with such interest,
<br />upon notice from Lender to Bonower requesting payment.
<br />All insurance policies required by Lender and renewals of such policies sha11 be subject to Lender's right to
<br />disapprove such policies, sha11 include a standazd mortgage clause, and shall name Lender as mortgagee and/or as an
<br />additional loss payee. Lender sha11 have the right to hold the policies and renewal certificates. If Lender requires,
<br />Borrower sha11 promptly give to Lender a11 receipts of paid premiums and renewal notices. If Borrower obtains any
<br />form of insurance coverage, not otherwise required by Lender, for damage fo, or destruction of, the Properiy, such
<br />policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an addirional loss
<br />pay�.
<br />In the event of loss, Borrower sha11 give prompt notice to the insurance carrier and Lender. Lender may make
<br />proof of loss if not made promptly by Bonower. Unless Lender and Bonower otherwise agre,e in writing, any
<br />insurance procceds, 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 period, L,ender 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 shall be undertaken promptly. Lender may disburse proceeds for the repairs and
<br />restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement
<br />is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, 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 Bonower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower.
<br />If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds
<br />shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid
<br />to Borrower. Such insurance proceeds sha11 be applied in the order provided for in Section 2.
<br />If Bonower abandons the Property, Lender may file, negotiate and settle any available insurance claim and
<br />related matters. If Bonower 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 settle the claim. The 30-day period will begin when the
<br />notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Bonower hereby
<br />assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid
<br />under the Note or this Security Instrument, and (b) any other of Bonower's rights (other than the right to any refund
<br />of unearned premiums paid by Bonower) under all insurance policies covering the Property, insofaz as such rights
<br />are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the
<br />Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
<br />within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's
<br />principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS DocMeg/c�
<br />Form 3028 7/01 Page 6 of 15 www.docmagic.com
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