|
201209917
<br /> 5, Yru�erty Iiuurnncc. f3nrrnwer shall keep the improvemcnls now existing or herenfter crccled on the
<br /> Property insured ��gainsi loss b}� iire, haxardy included wiChin the term "extendcd cover,�be," and nny other h�xards
<br /> iiacluding, but nn� ]imi�uJ �o, e�3rthqnalceF nnd floods, ior whiuh I.ender requires insnrancc. 'I'his insux�i�ice shall be
<br /> rnainCained in the ruuounts (includin� deductible levels) and fnr [hp ppriods that Lender requires. What L.cmder
<br /> requires pursuan�to the preceding scn[cnces��n cl���nge during the term of Ihc Loan. T1xe insurance enrrier providing
<br /> the insurance s}�a][bechosen hy Bormwcr suhjcct[o Lendex's right to disnpprove 13orrowcr's clioice,which right shafl
<br /> not be exerciscd unrcak�nabl�. I,ender mny reqnire 13rn•mwpr lo pxy,in connection with thiF T,nan,cilhcr; (a)x one-
<br /> 11Tne charge for flood xnnc dcl.rnnin�3li�n, certification nnd tracking scrvices; ur(b)a one-time chnrge for flond xcmc
<br /> detc�•rninaCior,and certi�cntion snrviccs and subacc]uenC charges ench tlme remnppings nr sirnilax changes occur�vhicl�
<br /> reasonahly migh[ aCleul snch determi�2tion nr ecrtifica[ion. Rorrower sliall also 6e respnnsiUlc I'pr[hc paymcnx� of
<br /> �nxy fees impased hy tha Fed�ma] F�uergenc�� Mnnngement Agency in ennnectinai wiClz tlie review of nny flood znnc
<br /> delerminaCiou Tesnlung irom an nhjCciiiin hy Rorrower.
<br /> 1P 13orro��,er fails to maiatain an. of the coverages described above, Lender may obtain insurance coverage, at
<br /> Lender's option and Borroker's expense. L,ender is under no obligation to purchase any particulaz type or amouat
<br /> of coverage. Therefore; such coG�erage shall cover I,ender, but might or might not protect Borrower, Borrower's
<br /> equity in the Property, or the conteats oP[he Property, against any risk,hazard or liability and might provide greater
<br /> or lesser coverage than was previously in effect. Borrower acluiowledges that the cost of the insurance coverage so
<br /> obtained might signiY:cantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed
<br /> by Lender under this Section 5 sha�become additional debt of Borrower secured by this Security Instrument. 1'hese
<br /> amounts shall Uear interest at the Note rate from the date of disbursemenf and shall be payable, with such interest,
<br /> upon notice finm Lender to Borro�er requesting payment.
<br /> All insurazice policies r�uired by Lender and renewals of such policies shall be subject to Lender's rigJit to
<br /> disapprove such policies, shall include a sEandard mortgage clause, and shall name Lender as mortgagee and/or as an
<br /> additional loss payee, Lender shall have ihe right to hold the policies aud renewal certificates. If Lender requires,
<br /> Borrower shall promptly �ive to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any
<br /> form of insurarce co�•erage, not other■4�ise required by Lender, Por damage to, or destruction of, the Property, such
<br /> policy shall include a stzndard mortgage clause and shal] name Lender as mortgagee a�id/or as an additioual loss
<br /> payee.
<br /> In the event oi Ioss, Borro�ver ahall gi�e prompt notice to the insurance carrier and Lender. Lender may make
<br /> proof of loss if not made prompdy by Borrower. Unless I,ender and Borrower otherwise agree in writing, any
<br /> _ __ insurnnce_procezds,��hethzr or-no[_the underlying insurance was_required_by�,ender,_shall_be_applied toxestoration_—____ —
<br /> or repair of the Propertp, if d�e rzsmra[ion or repair is economically feasible and Lender's security is not lessened.
<br /> During such repair and restorarion period, Lender shall have the right to hold such insurance proceeds until Lender
<br /> has had an oppor[wut�,� to inspect such Property to ensure the worlc has been completed to Lender's satisfaction,
<br /> providad that such inspec[ion shNl he undertaken promptly. Lender may disburse proceeds for the repairs and
<br /> restoration in a single payment or in a series oP progress payments as the work is completed. Unless an agreement
<br /> is made in writing or rlpp]icahle Law requires interest to be paid on such insurance proceeds, Lender shall not be
<br /> rcqllircd lo pay Fs�n-o+n�er un��interzst or enriunge nn snch pmccecla, Fcos fot��uUlic adjusters,or other third pnrtics,
<br /> ratnined Uy 13nrrrnvcr sha]] n�l i�e paid ou[ oP the insurnnce prncecds nnd shall bc Ihc sulc obligaCion of Borrower.
<br /> 11'Ilae restorartiov or repail'is�inf e:nnnrr�ie�il]y 1'e�isible or I.xnder's seeurity would be Iessened, lhe inhur;tnce pa oc�ls
<br /> shall be xpplicd CU l7u si[ms securecl 6y rhis Sc;,urity lnstn.7�nCnl, wliclhur ox noCihen due,with tl�e excess, il'any, pai[l
<br /> to Borrower, Saeh insucance prnceecis shtill be fipplied in the order prnvided fnr in Sccfion 2.
<br /> It'Rorro«er n�nndous [ne 1'mper�y, [.���der rn,ry File, negotifite nnd settle any avlilahle insurance cl<�inx �md
<br /> rcl�ted matlurs. [1'Rarrower dozs not respnnrl within 30 clays ln a noCic�('rotx�Lender that tlie insurancc enrricr has
<br /> oPPered to settic a claim, l}�cr� I,cnder zr.�; negotinte and settle the claim, 'Pha 30 d�iy period will begin wheu tl�e
<br /> nuCic�is given. In either c��cnt, nr i r Lcnder acqu#res Glae Property under Section'l] or nthctwise, Rorruwer hereby
<br /> lasigns �o I,cnc!cr [u) Bairawer's ri�hts tn any ins�lrancu procceds iix Fin amount noC to excccd the ainrninls unpaid
<br /> under the Nnte nr tl�is Secuti!y Ii�su•ument, nnd(b)nny nther ol'13nrrowcr's ri�lxCs(oCher thnn the right to any rcfund
<br /> of uGxearned premiums pnid h�,� ]3c�rr�wer} under all insurfmce polieies eovering lhe ProT�erCy, i�xsofar fis sueh rights
<br /> NEBRASKA-Sin�ls Family-UNIFORV IIJSTRUFAENT DocMaglr.eG�ftd�
<br /> MODIFIED FOR DEPAR-'d1ENT DF VETERAIJS �'vF=AIRS - MERS .www.docmaglc.com
<br /> (Rev. 1l01) Page 6 of 14
<br />
|