|
201207797
<br /> LOAN k: U293761326
<br /> or ground rents on the Property;A any,and CommunityAssociation Dues,Fees,and Aesessments,if
<br /> any.To ihe wRent that these items are Escrow Items,8orrower shali pay them in the manner provided
<br /> in Section 3.
<br /> Bon�ower shall promptly dischargc any lien which has prioiity over[his Securibj instrument unless
<br /> Borrawec (a) ayrees in writing to the payment of the obligation secured by the Iicn in a manner
<br /> acceptable[o lender,but only so lonp as Borrower is pertorming suc17 agreement;(p)conteststhe lien
<br /> in good faith by,or defends ayainst enforcement af[he lien in,legal proceedings which in Lender's
<br /> opinion operate to prevent the enforcement of the lien while those proceedinc�s�re pencling,but only
<br /> until such proceedings are concluded; or (c) secures from the holder of the licn an agreement
<br /> salisfactor}rto Lender sudordinating the lien to this Security Instrument. If Lender determines that any
<br /> part of the Property is su6ject to a lien which can attain prioriry over this Security Instrument,Lender may
<br /> give Borrower a n�tice identlfying the lien.Within 10 days of the date on which that notice is given,
<br /> Boirower shall e.atisfy the lien or take onc or more of the actions set forth above in this Section 4.
<br /> Lender may require Horrower to pay a onedime charge for a real estate tax verification and/or
<br /> reporting service used by Lender in connection with ihis Loan.
<br /> 5. Property Insurance.Borrower shall keep the improvemenis now existing or hercafter erec[ed
<br /> on the Property insured against loss by fire,hazards inciuded within the term"eMended coverage,"and
<br /> any other hazards including, but not limited to, earlhquakes and floads,for which Lender requires
<br /> insurance.This inaurance shail be maintained In the amounts(induding deducti6le levels)and tor the
<br /> periods ihat Lender requires.What Lender requires pursuant to the preceding sentences can change
<br /> during the term of the Loan.The insurance carrier providing the insurance shall be chosen by Borrower
<br /> subject to Lender's right to ciisapprove Borrower's choice, which right shall not be exercised
<br /> unreasonably.Lender may require Borrower to pay,in connection with this Loan,either.(a)a one-time
<br /> charc�e for flood zone determination, certification and tracking services;or(b)a one-time charge for
<br /> flood zone detennination and cer[ification services and subsequent charges each time remappings or
<br /> similar changes occurvahich reasonably might affect such determination or certification.8orrower shall
<br /> also be responsible ior the payment of anyfees imposed by the Federal Emergency Management Agenoy
<br /> in connection with the review of any flood zone determination resulting hom an odjection 6y Borrower.
<br /> If Borrower faiis to mainiain any of the coverages described above,Lender may obtain insurance
<br /> coverage,at Lender's option and Borrower's expense.Lender is under no obligation to purchase any
<br /> particWar type or amount U co�rerage.Therefore,such coverage shail cover Lender,but might or might
<br /> not�rotect Borrower,Borrower's equity in the Property,orthe canienis of the Property,against any risk,
<br /> hazard or liabilily and might provide greater or lesser coverage than was previousiy in effecl.Borrower
<br /> acknowledges ihat the cost of the insurance covsrage so obtained might significantly exceod the cost
<br /> oi insurance that Borrower could have obtained.Any amounts d isbursed by Lender under this Section
<br /> 5 shail become additional debt of Borrower secured by this Security Instrument.These amounts shali
<br /> bear interest at ihe Note rate from the date of disbursement and shall be payable,wiih such interest,
<br /> upon notice from Lender to Borrower requestinc�payment.
<br /> All insu rance policies required by Lender and renewals of such policies shail be sudject to Lender's
<br /> rightto disapprove such policies,shali include a standard mortgage clause,and shall name Lender as
<br /> mortgagee and/or as an addi6onal loss payee. Lender shall have the right to hold the policies Tnd
<br /> renewal certificates. It Lender requires, Borrower shall promptiy give to Lender all receipts of paid
<br /> premiums and reziewal notices. If Borrower obtains any form of insurance caderage, not othenvise
<br /> required by Lender,for damage to,or destruction of,the Property,such policy shall include a standard
<br /> mortgage dause and shall name Lender as mortgagee and)or as an additionai loss payee.
<br /> In the event oTloss,Borrower shaii give prompt notice to the insurance carrier and lender.Lender
<br /> may make prootof loss rfnot made promptly by Borrower.Unless Lender and Borrower otherwise agree
<br /> in writing,any 7nsurance proceeds,whether or not the undedying insurance was required Ay Lender,
<br /> shall bc applied to restoration or repair of the Property,if the restoration or repair is economically feasibie
<br /> aod Lender's securhy is not Iessened.During such repair and restoration period,Lender shall have the
<br /> rightto hold such insurance proceeds until Lender has had an opporWniry to inspect such Property to
<br /> ensure the work has been completed to Lender's satisfection,provided that such inspecfion shall be
<br /> undertaken promptly.�ender may disburse proceeds for the repairs and restoration in a single payment
<br /> or in a series of progress payments as ihe work is completed.Unless an agreement is made in writlng
<br /> orApplicable Law requires interest to pe paid on such insurance proceeds,Lender shail not 6e required
<br /> to pay Bormwer any interest or earnings on such praceeds. Fees for public adjusters,or other third
<br /> par[ies,retained by Borrower shall not be paid out of the insurance proceeds and shail be the sole
<br /> obligati�n of Borrowec If the restoration or repair is not economicaAy feasi6le or lender's security wouid
<br /> be lessened,thc insurance proceeds shali be appiied to the sums secured bythis Security Instrument,
<br /> whether or not ihen due,with the excess,rf any,paid to Borrower.Such insurance proceeds shall be
<br /> applied in the order provided for in Section 2.
<br /> if Borrower abandons the Property, Lender may file,negotiate and settle any available insurance
<br /> claim an4 related matters.If Borrower does not respond within 30 days to a noticefram Lenderthatthe
<br /> insurance carrier has offered to settie a claim,then Lender may negotiate and settle the claim.The 30-
<br /> day period wiil pegin when the notice is give�.in either event,or if Lender acquires the P%p�rt u erF,�
<br /> initials• � � , � � �'�.
<br /> NEBflASKFl--SinnleFamily--FanninMae)FrotldieMacUNIFORMINSTRUMENTf-orm302flY�0/ "` �j�'�
<br /> ONine�ocuments,Inc. PSge 5 of 11 NEE��FO 11a�
<br /> Y•
<br />
|