|
201211035
<br /> notice identifying the lien.Within 10 days of the date on which that notice is given,Borrower sha11 satisfy the lien or take
<br /> one or more of the actions set forth above in this Section 4.
<br /> Lender may require Borrower to pay a one-time chazge 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 Property
<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 which Lender requires insurance.This insurance sha11 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 carrier providing the insurance shall be
<br /> chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised
<br /> unreasonably.Lender may require Borrower to pay,in connection with this Loan,either:(a)a one-time charge for flood
<br /> zone determination, certification and tracking services; or (b)a one-time chazge for flood zone determination and
<br /> certification services and subsequent charges each time remappings or similar changes occur which reasonably might
<br /> affect such deterxnination or certification.Borrower shall also be responsible for the payment of any fees imposed by the
<br /> Federal Emergency Management Agency in connection with the review of any flood zone determination 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 shall 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,hazazd 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 Borrower could have obtained.Any amounts disbursed by Lender under
<br /> this Section 5 shall become additional debt of Borrower secured by this 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 Borrower 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 standard mortgage clause,and shall name 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.lf Borrower obtains any form
<br /> of inswance coverage,not otherwise required by Lender,for damage to,or destruction of,the Properiy,such policy shall
<br /> include a standard mortgage clause and shall name Lender as mortgagee and/or as an additiona.l loss payee.
<br /> In the event of loss,Borrower shall give prompt notice to the insurance can-ier 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 promptly.Lender may disburse proceeds for the repairs 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 Borrower any interest or earnings on such
<br /> proceeds.Fees for public adjusters,or other third parties,retained by Borrower shall 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 insurance 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 sha11 be applied in the order
<br /> provided for in Section 2.
<br /> If Borrower abandons the Property,Lender may file,negotiate 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 Property 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(other than the right to any refund ofunearned premiums paid
<br /> NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT FJ�c1�^y��Q_28 �/0�
<br /> Page 5 of�2 /jyd
<br /> ios,inc. Borrower(s)Initials 2��_
<br />
|