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201404750
<br /> not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a)a one-
<br /> time charge for flood zone determinatian, certification and tracking services;or(b)a one-time charge for flood zone
<br /> determination and certification services and subsequent charges each time remappings or similar changes occur which
<br /> reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of
<br /> any fees imposed by the Federal Emergency 1V[anagement Agency in connection with the review of any flood zone
<br /> determination resulting from 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
<br /> of coverage. Therefore, such coverage shall cover I.ender, but might or might not protect Borrower, Borrower's
<br /> equity in the Property, or the contents of the Property, against any risk, hazard or liability and might prov�de greater
<br /> or lesser coveraae than was previously in effect. Borrower acknow]edges that the cost of the insurance coverage so
<br /> obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed
<br /> by Lender under this Section � shall become additional debt of Borrower secured by this Security Instrument. These
<br /> amounts shall bear interest a2 the Note rate from the date of disbursement and shail be payable; with such interest,
<br /> upon notice from Lender to Borrower requesting payment.
<br /> All insurance policies required by Lender and rene���als 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 palicies and renewal certificates. If Lender requires,
<br /> Borrower shall promptly give to Lender al1 receipts of paid premiums and'renewal notices. If Borrower obtains any
<br /> form of insurance coverage, not otherwise required by I,ender, for damage to, or destruction of, the Property, such
<br /> policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss
<br /> payee.
<br /> In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make
<br /> praof of loss if not made promptly by Borro�ver. Unless Lender and Barrower otherwise agree in writing, any
<br /> insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration
<br /> or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened.
<br /> During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender
<br /> has had an opportunity to inspect such Property to ensw�e the work has been completed to Lender's satisfaction,
<br /> provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and
<br /> restoration in a single payment or in a series of pro��ress payments as the work is completed. Unless an agreemeni
<br /> is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be
<br /> required to pay Borro�ver any interest oi•earnings on such proceeds. Fees for public adjusters, or other third parties,
<br /> retained by Borrower shalJ nat be paid out of the insurance proceeds and shall be the sole obligation of Borrower.
<br /> if the restoration or repair is not economically feasible or Lender's security would be lessened,the insurance proceeds
<br /> shall be applied to the sums secured by this Security Instrument, whether or not then due,��ith the excess,if any,paid
<br /> to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br /> If Borrower abandons the Property, I.,ender may file, negotiate and settle any available insurance claim and
<br /> related matters. if Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has
<br /> offered to settle a claim, then Lender may negotiate and settle the claim. T71e 30-day period will begin when the
<br /> notice is given. In eitller event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby
<br /> assigns to Lender(a) Borrower's rights to any insurance proceeds in an amount not to eaceed the amounts unpaid
<br /> under the Note or this Security Instrument, and{b)any other of Borrower's rights(other than the right to any refund
<br /> of unearned premi:ums paid by Borrower}under all insurance policies covering the Property, insofar as such righis
<br /> are applicable to the coverage of the Property. Lender may use the insw�ance proceeds either to repair or restore the
<br /> Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.
<br /> 6. Occupancy. Borrower sha11 occupy, establish, and use the Property as Borrower's principal residence
<br /> within 60 days after the execution ofthis Security Instrument and sha]1 continue to occupy the Property as Borrower's
<br /> principal residence for at least one year after the date of occupancy, unless Lender other��ise agrees in writing, which
<br /> NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS DocMagfe�
<br /> Form 3028 1l01 Page 6 of 15 www.docmagic.com
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