201210551 - Laserfiche WebLink

Browse

201210551 services and subsequent chazges each time remappings or similaz changes oceur which reasonably might affect such determination or certification. $orrower shall also be responsible for the payment of any fees imposed by the Federal Emetgency Management Agency in co�nection with the review of auy flood zone determination resulting&om an objection by Borrower. If Boaower fails to maintain any of the coverages described above, L.ender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of covetage.Therefore, such coverage shall cover Lender,but might or might not protect Boirower, Bonower's equity in the Property,or the contents of the Property,against any risk, hazard or liability and might provide geater or lesser coverage than was previously in effect. Sortower acknowledges that the cost of t6e insunnce coverage so obtaincd might significautly exceed the cost of insurance that Bonower could have obtained.Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by tiils Security Instrument. These amounts shall beaz interest at the Note rate from the date of disbursement and shall be payable,with such interest,upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standazd mortgage clause, and shall name Lender as mortgagee and/or as an additional bss payee. Lender shall have the right to hold the policies a�d renewal ecrtificates. If Lender requires,Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not othenvise required by Lender, for damage w,or destruction of,the Property,such policy shall include a standazd mortgage clause and shall uame Lender as mortgagee and/or as an additional loss payee. Iu the event of loss, Borrower shall give prompt notice to the insarance caaier and Lender. Lendet may make proof of loss if not made promptly by Boaower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds,whe[her or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. Daring such repair and restoration period,Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,provided that sach inspcction shall be undertaken promptly. Lender may disburse proceeds for the repaus and resWration iu a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requ'ves interest to be paid on such insurauce prceeeds, Lender shall not be required to pay Borrower any interest or earnings on such prceeeds. Fees for public adjusters,or other third parties,retained by Borrowcr shall not be paid out of the inswance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economicalty feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by t6is SecuriTy Instrument,whether or not then due,with the excess, if any, paid to Sorrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property,Leuder may file,negotiate aud settle any available insurance claim and related matters. lY Borrower does not respond withiu 30 days to a notice from Lender that the insurance cattier has offered to settle a claim,then Lender may negotiate and settle the claim.T6e 30-day period will begin when the notice is given.In either eveut,or if Lender acquires the Property under Section 22 or othenvise,Borrower hereby assigns to Lender(a)Sorrower's rights to auy insurauce proceeds in an amount not to exceed the amounts unpaid under the Note or this Securiry Instrument,and (b)any other of Borrower's rights(other than the right to any refuud of unearned premiums paid by Borrower)under all insurance policies covering the Proper[y, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repav or restore the Property or to pay amounts unpaid under the Note or this Security Instrument,whether or not then due. NEBFhSKASingle Famllyfennle MadFretltlie Mec UNIFORM INSTRIIMENT WITH MEftS Foim 30281/01 VMP� VMP6A(NE)(11�5)00 Wolleis Kluwer Financial Services Page 9 M R III IIIIIIIII N II�II I IIII IIIINI II II I II IIIINII III