201209395 - Laserfiche WebLink

Browse

�01209 serrvices and subsaquent charges each time remappings or similar changes occur wtuch reasonably might affect such determination or certific�tion. Borrow� aha11 also be responsfble for the payment of any fees ianposai by the Federal Emergancy Management Agency in connection with the review of any flood zone detennination resulting from an objection by Borrower. ff Borrower fails to maintain any of the coverages described above, Lender may obtain insuranca coveraga, at Lender' s option and Borrower' s expense. Lende� is under no obligation to purchase any particular type or a�unt of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Banower' s equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or 1� coverage than was previously in effect. Borrower acknowledges that the cost of the �nc„�+r►ce coverage so obtained might significantly exceed the cost of insurance that Bonower could have obtainal. Any amounts disbursai by Lender under tUis Section 5 shall bacome additional debt of Boaower secured by this Security Ins�ru�nt. These �unts sha11 beaz interest at the Nota rate from the date of disbursement and sha11 be payable, with such interest, upon notica from Lender to Borrower TecNe�ng PaYment• All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, sha11 includa a standard mortgage clause, and shall name Lender as mortgagee �id/or as an addidonal loss payee. Lender shall have the right to hold the polici� and renevval certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insuranca coverage, not othe2wise required by Lender, for dmnage to, or destcvction o� the Property, such policy sha11 include a standard mortgage clause �d shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the inauranca carrier and Lender. Leader may �ake proof of loss if not made promptly by Borrowar. Unless Lender and Borrower oth�wise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by L�nder, ahall be a�plied to r�toration or repair of the Properiy, if the restoration ar repair is economically feavble and L�nder' s security is not lessened. During such repair and restoration pe�iod, Lender shall have the right to hAld such insurance praceeds until Lander has had an oppofiu►ity to inspact such Properiy to ensure the work has been completed to Lender' s satisfaction, provided that such inspection shell ba undertaken gromptly. Lander may disburse procceds for the repairs and restoration in a single payment or in a series of progress payments as the work is complete�. Unless an agreement is m�e in writing or Applicable Law requires interest to be paid on auch insurance procee�s, Lender shall not be r�ed to pay Borrower any nnterest ar earnings on such proceads. Fees for public �justers, or other third parlies, retained by Barrower shall not be paid out of the insUrance proceeds and shall be the sola obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applie� to the swms secured by ttus Se�urity Instrument, whether or not then due, with the excess, if any, paid to Bonower. Such �nm�nce proc�eds sha11 be applied in the ordar provided for in Secrion 2. If Horrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the ins�u�ance csurier has offeral to settle a claim, then Lender may negotiate and settle the claim The 30�day period will begin when the notice is given. In either event, or if Lender acquires tha Properiy under Section 22 or othervvise, Borrower hereby assigns to Lender (a) Borrower' s rights to any insurance proce�s in an a�unt not to excced the amounts unpaid under the Note or tlus Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of uneazned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applic�ble to the coveraga of the Froperiy. Lender may use the insurance proceeds either to repair or restore the Properiy or to pay a�ounts unpaid under the Note or tlus Sacurity Instnmdent, whether or not then due. 2200286136 D V6ANE NEBRASKA-S6�gle F�nOy-FanNe Mae/Fraddle Mac UNIFORM INSTRUMEIYT WRH MEHS Form 3036 1/01 VMP (ql VMP6A(NE) (7 706) Woltere KEuw� Finendel Servloee Pege 7 of 17 / �V �