201501945 - Laserfiche WebLink

Browse

��15�1945 ser�ices and subsequent charg�s each time remappi�.gs or simiiar changes occur which reasonably might affect such de�errriination or certification. Borrower sha11 also be responsib�e�for the payment of any f�es �mpos�d by the Federal Emergency Manag�ment Agency in connection�uith the review of any flood zone determina��r�resu�ting from an obj�cti�n by Borro�ver, If Borrower fai�s to maintain any of t�e c�verages described above,i�ender may vb�a.in�nsur�nee coverage, at Lender's opt�on and Borrower's expense. Lender is u�.der no ob�iga�ion to purchase any particular type or amount of coverage. Therefore, such c�verage shalt co�er Lender,but might or might not protect Borrower, Barrower's equity in the Property,or the contents of the Property,against any risk, hazard or lia�aility and might provide greater or lesser coverage than was pre�iously in effect. Borrovver ackno�ledg�s that the cost of the insurance caverage sa obtain�d might s�gni�cantly exceed the cost af insurance that Barro�ver could ha�e��tair�ed.Any amount�disbursed b�Lender un.der�his Sectiian S sha�t become additi�nal deb�of Borrower secured by this Secu�rity In�trument, These amounts shall bear interest a��he Note rat�from the date of disbursement and shall be payable,with such interest,upon natice fr�m L�nder to Borro�uer requesting pa�ment. All insura.nce p��icies re�uired by Lender and rer�ewals of such palicies shall be subject tv Lender's right to d�sapgrvve such pal�cies, �ha��include a st�ndard mortga�e clause,and shall n�.m�Lender as mortgagee andlor as an additionallass gayee. Lender shall have th�right ta hold the palicies and renewa�certificates. If Lender requues,B�rrower sha11 promptly g�ve�o Lender all receipts of paid premiums and rene�ual n�tices. �f Borrawer ob�ains any form of insurance coverage,not�therwise required by L�nder, for damag� to,or destruction of,the Prvperty, such po��cy shall inc�ude a standard mortgage c�ause and shall name Lender as mortgagee andlor as an additi�nal loss payee. I�the��rent of loss,Borrower sha11 gi�e prompt notice to the insurance carrier and Lender. Lender may make proof of loss if no�made promptly by Barrower. Unless Lender and Borrower otherwise agree in writing,�.ny ir�sura�ace proceeds,wheth�r or not the underlying insurance was required by Lender, shall be applied to restoration or r�pa�r of�he Property, if the res�oration ar repair is econ�mica�ly f�asible and Lender's securi�y is not lessene�.During such repa�r and restoration period,Lender sha�l ha�e the right to ha�d such insurance pr��eds until Lender has had an opportunity to inspect such Property to�nsure the wark has been campleted t�Lender's satisfaction,pro��ded tha�such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment ar in a series of progress payments as the work is completed.Un�ess an agreement�s made�n tivriting or Applicable Lavv requires interest ta be paid on such insurance proceeds, Lender shall not be requ�red to pay Borrower any interest ar earnings on such proceeds. Fees far public ad�usters,�r other third parties,retained by Borro�ver sha11 not be paid out of the insurance proceeds and shali be the sole obligatiob of Borrflwer. If the restaration ar repair is not eeonomically feasibie or Lender's security v�ould be I�ssened,the insurance proceeds sha��be appli�d to the sums secured by this Security Instrument,�vhe�her or not then due,with the excess, if an�, paid to Borrower. Such�n�urance proceeds shall be agplied in��e order provided for in Sectxan�. If Borrow�r abandons the Property,Lender may file,negoti�,te and settl�any a�ailab�e insurance c�aim and related matters.If Borrower does not respond within 3�days to a notice from Lender that the inSurance carrier has offered to settle a c�aim,then Lender may negotiate and sett�e the c�aim. �he 34-day period wi�1 begin�rhen the notice is given. In either eventy or if Lender acquires the Prop�rty under 5ection 22 or othertivise,Borrower hereby assigns to Len�.er�a)Borro�er's rights to any in�urance proc�eds in an amount not to exceed the amounts unpai.d under the�Tote or this S�curity Ins�rument,and(b}any other Qf Borra�ver's rights�o�h�r t�aan the right to any refund af unearned premiums paid by Borrower)under all insurance palicies co�ering the Property, insofar as such rights are applicable��the coverage of the Property. Lender may use the insurance proce�ds either to repair or res�ore the Prop�r�or to pay am�unts unpaid under the Note or this Se�urity Instrument,wheth�r Qr not then�lue. NEBRASKA�ing�e Family-Fann�e MaelFreddie Mac LINIF�RM INSTRUMENT WITH MERS Form 3�28 11�1 VMP p V�llPfiA(NE}�43(}2}.DO Wolter�Kluwer Financ�al Services Pa9e 7 of 97 , q�3337864f�55 4233 281 4717