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20120�25i
<br />Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service
<br />used by Lender in connection with this Loan.
<br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Properiy
<br />insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but
<br />not limited to, earthquakes and floods, for wluch Lender requires insurance. This insurance shall be maintained in the
<br />amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the
<br />preceding sentences can change during the term of the Loan. The insurance cazrier providing the insurance sha11 be
<br />chosen by Bonower subject to Lender's right to disapprove Borrowet's choice, which right shall not be exercised
<br />unreasonably. Lender may require Borrower to pay, in connection with tlus Loan, either: (a) a one-time charge for flood
<br />zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and
<br />certification services and subsequent charges each time remappings or similar changes occur wluch reasonably might
<br />affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the
<br />Federal Emergency Maaagement Agency in connection with the review of any flood zone determinarion resulting from
<br />an objection by Borrower.
<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 of
<br />coverage. Therefore, such coverage sha11 cover Lender, but might or might not protect Borrower, Borrower's equity in
<br />the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser
<br />coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might
<br />significantly exceed the cost of insurance that Bonower could have obtained. Any amounts disbursed by Lender under
<br />this Section 5 shall become additional debt of Borrower secured by tlus Security Instrument. These amounts shall bear
<br />interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender
<br />to Bonower requesting payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br />disapprove such policies, shall include a staadard mortgage clause, and sha11 na.me Lender as mortgagee and/or as an
<br />additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires,
<br />Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form
<br />of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall
<br />include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof
<br />of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance
<br />proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the
<br />Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and
<br />restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to
<br />inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall
<br />be undertaken prompUy. Lender may disburse proceeds for the repa.irs and restoration in a single payment or in a series of
<br />progress payments as the work is completed Unless an agreement is made in writing or Applicable Law requires interest
<br />to be paid on such insurance proceeds, Lender shall not be required to pay Bonower any interest or earnings on such
<br />proceeds. Fees for public adjusters, or other third parties, retained by Borrower sha11 not be paid out of the insurance
<br />proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's
<br />security would be lessened, the �nc�,rance proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order
<br />provided for in Secrion 2.
<br />If Borrower abandons the Property, Lender may file, negoriate and settle any available insurance claim and related
<br />matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to
<br />settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In
<br />either event, or if Lender acquires the Properiy under Section 22 or otherwise, Borrower hereby assigns to Lender
<br />(a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this
<br />Security Instrument, and (b) any other of Borrower's rights (otlier than the right to any refund of unearned premiums paid
<br />by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of
<br />NEBRASKA -Single Family-Fannie MaelFreddle Mac UNIFORM INSTRUMENT Form 28 1/01
<br />Page 5 of 12
<br />ias, i�c. Borrower(s) IniUals
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