201210843 - Laserfiche WebLink

Browse

201210843 services and subsequent chazges each time remappings or similar changes occur which reasonably might affect such deternunation or certification. Horrower shall also be responsible for the payment of any fces imposed hy the Federal Emergency Management Agency in connection with the review of any Flood zone deteimination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coveragq at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particulaz type or amount ot'coverage. Therefore, such coverage shall cover L�der, but might or might not protect Bonower, Borrower's equity in the Propeity, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges tkiat[he cosl of the insurance coverage so obtained might significantly e�cceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Insrtument These amounts shall bear 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 standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall ha�e the right to hold the policies and renewal certificates. If Lerider requires, Borrower sha11 promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insarance c;overage, not otherwise required by I.ender, for damage to, or destrudion of, the Properry, such policy shall inciude a standard mortgage dause and shall name Lender as mortgagee andlor as an additional loss payee. In the event of loss, Borrower shall give prompt norice to the inswance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower othenvise agree in writing, any insurance proceeds, whether or nol lhe 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. During such repair and restoration period, I,ender 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 such inspection sttall be undertaken promptly. Lender may disburse procceds for the repairs and restoration in 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 requires interest to be paid on such insurance proceeds, Lender shal I not be requ'ved to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other thud parties, retained by Borrower shall not be paid out of the insurance proceeds and shail be the sole obligation of Boirower. If the restoration or repair is not economically feasible ar I.ender's security would be lessened, the insurance proceeds shall be applied to the sums secured by tiris Security Instrument, whether or not then due, with the excess, if any, paid W Borrowa. Such insurance proceeds shall be applied in the order provided For in Section 2. If Borrower abandons the Properry, Lender may file, negotiaze and settle any available insurance claim and related matters. If Boaower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin wben the notice is given. In either event, ar if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender(a)Borrower's rights to any insurance proceeds in an amount not to eacceed the amounts unpaid under the Note or this Security Inshvment, and(b)any other of I3orrower's rights(other than the right to any refund of unearned premiums paid by Borrower)under all insurance policies covering the Property, insofar as such rights aze applicable to the wverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts impaid under the Note or this Security Instrument, whether or not then due. 23002]6954 D VBANE NEBNASKA-Single Femily-Fannie Mae/FreGtlie Mac UNIFOHM INSTRIIMEM WITH MERS Form 3038 1/pi VMP(�( VMV9A�NE�(9105� Wokers Kluww Finan�iel Servicea Page 7 af 17