201207959 - Laserfiche WebLink

Browse

201207959 services and subsequent charges eacl� timc rcmappings or similar changes occur which rcasonably might affect such deYertnination or ca�ti fication. ftorrower shall also be responsible for thc payment of any fees imposed by the 1'cdcral Eu�ergency Management Agency in conncction with the review of any flood zone determination resulting from an objection by Borro�ver. 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 wider no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, bat might or might not protect Borrower, Rorrower's equiYy in the Property, or thc contents of the Property, against any risk, hazard or liability and mighf providc greater or lesser coverage than was previously in eTfect. Borrower acicnowledges that the eost of The insurancc covcrage so obtained might signiflcantly exceed tl�c cost of inturance that Borrower coald have obtained. Airy amounts disbursed by Lender ander [his Section 5 shall becoroe additional debt of Borrower secured by this Security Instrument Thesc amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, witl� such interest, upon �totice from Lender to Borrower rcquesting payment. All insurance policies required by Lender and renewals of such policies shall bc subjwt to I.ender's righY Yo disapprove such policies, shall include a standard morfgage clluse, and shall name Lei�dcr as mortgagee and/or as an additional loss payec. Lcnder shall have the right to hold the policies and eenewal certificates. If Leuder requires, Borrower shall promptly give to Lender all receipts of paid prcmiw�is and renewal notices. If Barower obtains airy form of insurance coveiage, not ochcrwisc rcquired by Lender, for damage to, or destruction of, thc Property, such policy shall include a standard inortgage clause and shall name Lender as martgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt noticc to lhe insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless I.ender a��d Borrower otherwise agree ii� writing any insurance p�nceeds, whether or not the underlying insurance was required by Lender, shall be applied Lo restoration 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 until Lender has had an opportunity to inspect sucl� Properry to ensure the worlc has been completed k� Lender's satisfac[ion, provided that such inspection shall be undertaken protnptly. Lendcr mxy disburse proceeds for fhe repairs and restoration in a sfngle paymenY or in a seeies of progress payinents as the work is completed. Unless an agreement is made in writing or Applicxble Law rcquires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower a��y interest or earnings on such proceeds. Fees for public adjusters, or ucher lhied pxrties, retained by Borrower shall noY be paid out of thc insurance proceeds and shall 6e the sole obligation of Borrower. if the restoration or repair is not economically feasible or Let�der's security would be fessened, the insurance proceeds shall 6e applied to the swns secured by Yhis Security lnstrumcni, whether or not Yhen due, with the excess, if any, paid fo Borrowcr. Such insurance proceeds shall bc applied in the order provided for in Section 2. Tf Borrower abandons the Propeety, Lender may file, nego[iate and settle any available ii�surancc claim and rclated mztters. If Borrower ducs not respond within 30 days to a i�otice from Lendcr tl�at the insurance carrier has offered to seYtle a claim, then Lender may negotiaEe and seulc the claim. The 30-day period will begin when tl�e noticc is given. Hi eiYher event, or if Lcnder acquires the Property under Section 22 or otherwise, Borrowen c�reby assigns Co Lender (a) Borrowcr's rights to any insurance proceeds in an amount noY Co exceed the amounts unpaid tmder the Note or tl�is Security Iasb'tunent, and (b) any other of Borrower's rights (other than the right to ai�y rcCund of unearned premiums paid by T3orrower)undcr all insurancc policies covering the Property, ii�soTar as such rights are applicaUle to the coveragc oC Lhc Property. Lender may use the insuranw proceeds either Co repair or restore the Property or Lo pay amounts ui�paid under the Note or this Security h�strument, whether or not then di�e. d801292448 �, /��, 6001292440 � NE6RASKA-SingleFamlly-FannicMaelPreddieMacUNIfORMINSTROMENTVIITHMERS rQ(� �L� Fnrm30281101 V M P(n] VM P6 Pege�7 af�7 W olters Kluw er Finenclal Services