|
��14�135�
<br /> n��b�exercised unreasonably. Lender may require B�rro�ver to pay, in connection wi�h this Loan, either: �a�a ane-
<br /> time charge for flood zone determination, certification and�racking ser�ices; or�b}a one-t�me charge for flaod zane
<br /> determina�ion and certificatian ser�ices and subsequent charges each time remapp�ngs or s�milar changes flccur which
<br /> reasonably might affect such determination �r ce�-tification. Borrawer shall also be responsible for the payment�f
<br /> any fees i m�osed by the F ederal Em ergency Managem ent Agen cy �n connecti on w�th �he re��ew af any fl ood zone
<br /> determina��on resu�ting from an objection b� Borrower.
<br /> If Borrower fails to ma�ntain any of the co�erages described abo�e, Lender may obtain insurance co�erage, at
<br /> Lender's option apd Borrovver's expense. Lender is under no obligation to purchase any par�icular�ype ar amaunt
<br /> of ca�erage. Therefore, such co��rage shall co�er Lender, but might or might not protect Borro�rer, Borro�er's
<br /> equity in the Praperty, or the contents of the Property, against any risk, hazard or liability and might pro�ide greater
<br /> or lesser co�erage than was previously in effec�. Borrower acknowledges that the c�st af the insurance co�erage so
<br /> obtain�d might signif cantly exceed the cost of insurance that Borrower cauld ha�e abtained. Any amounts disbursed
<br /> by Lender under this Section 5 sha11 become additional debt of Barrower secured by�h1s Security Instrument. These
<br /> amounts sha11 bear interest at the Note rate firom �he date of disbursement and shall be payabl�, wi�h such interest,
<br /> upon notice fr�m Lender to Borrower reques�ing paymen�.
<br /> Al� insurance policies required by Lender and renewals of such policies shal� be sub�ect to Lender's right to
<br /> disappro�e such policies, shal� inc�ude a s�andard mortgage clause, and shal�name Lender as mortgagee andlor as an
<br /> additianal loss payee. Lender shall ha�e the right to hold the po�icies and renewa�certificates. �f Lender requires,
<br /> Borrawer sha�1 prompt�y gi�e to Lender al l receipts of paid prem�um s and renewal notices. I f Borrower obtains any
<br /> form of insurance co�erage, nat otherwise required by Lender, for damage to, or destruction of, the Property, such
<br /> policy sha�1 include a standard mor�gage clause and shall name Lender as mortgagee andlor as an additional lass
<br /> payee.
<br /> In the e�ent of�oss, B�rrawer shall gi�e prompt notice to the insurance carr�er and Lender. Lender may make
<br /> proof of loss if not made pramptly by Borrawer. Un�ess Lender and Borrovv�r otherwise agree in wri�ing, any
<br /> insurance pra�eeds, whe�her or not�he underlying insurance was required by Lender, shali be applied to restora�ion
<br /> or repair of the Property, �f�he restoration or repair is economica�ly feas�ble and Lender's security 1s not �essened.
<br /> During such repair and restoration perifld, Lender shal� ha�e the right ta hold such �nsurance proceeds until Lender
<br /> has had an oppor�unity to inspect such Property t� ensure the work has been completed to Lender's satisfaction,
<br /> pro�ided that such inspectian shall be under�aken pramptly. Lender may disburse proceeds for the repairs and
<br /> restora�ion in a singl� payment flr �n a series of progress payments as�he work js completed. Unless an agreement
<br /> is made in writing ar Applicable Law requires interest�o he paid on such insurance pr�ceeds, Lender sha11 not be
<br /> required to pay Borrower any interest flr earnings on such proceeds. Fees for public adjusters, or other third parties,
<br /> retained by Barrower sha11 not be paid out of the insurance pro�eeds and shall be the sale ol��iga�ion of Borrower.
<br /> If the restara�ion ar repair�s not economically feasib�e or Lender's secur�ty would be�essened,the insuran�e prflceeds
<br /> shal�be applied�o the sums secured by this Security�nstrument, vWhether or not then due, with the excess, if any, paid
<br /> to Borrower. Such insurance proceeds shali be app�ied in the order provlded for �n Section 2.
<br /> I f Borrovver abandons �he Proper�y, Lender may f Ie, nego�iate and settle any a�ailab�e insurance claim and
<br /> related matters. If Borrower does not respond within 3�days to a na�ice from Lender�ha�the insurance carrier has
<br /> offered to settl� a claim, then Lender may negotiate and settle the claim. The 3�-day period will begin w hen t he
<br /> not�ce is gi�en. �n ei�her e�ent, �r if.Lender acquires the Property under Sec��on�2 or otherwise, Borrower heret�y
<br /> assigns�� Lender�a} Bvrrowe�-'s rights �o any insurance pr�ceeds in an amount not to exceed�he amoun�s unpaid
<br /> under the Na�e or this S�curi�y Instrument, and�b}any other of Borrower's rights�other than the rlght�o any refund
<br /> nf unearned premiums paid by Borrower}under aIl insuranCe policies co�er�n�the Property, xnsofar as such rights
<br /> are applicable to the co�erage af the Property. Lender may use the insurance proceeds e�ther to repair or restore the
<br /> Property or to pay amounts unpaid under the No�e or this Security Instrument, whether ar nat�hen due.
<br /> 6. �ccupancy. Barrower shall nccupy, es�ablish, and use the Property as Borrower's principa� residence
<br /> wi�hin 6�days after the execution of this Security Instrument and sha�l continue�o occupy the Property as Borrower's
<br /> princ�pal residence for at least one year af�er the date of accupancy, unless Lender otherw�se agrees in writing, which
<br /> NESRASKA--Singfe FamEly--Fannie MaelFreddie Mac UNlFORM INSTRIJMENT - MERS pncMaglc
<br /> Form 3�28 1101 Page 6 of �5 www.doCmagic.cam
<br /> .
<br /> .
<br />
|