201502052 - Laserfiche WebLink

Browse

��15��5� services and su�sequent charges each time remappings ar simi�ar changes o�cur which reasonably might affect �uch determinatian or certification. Borrawer shall a�so be responsibl� far the payment of any fees imposed by the Federal Emergen�y Management Agency in connection with the re�iew af any flood zone determxnation resulting from an objection by Borrower. If Borrower fails t❑ maintain any of the co�erages described above, Lender may obtain insurance co�erage, at Lender's option and Borrawer's exp�nse. Lender is under no nbligation to purchase any particular type or amount of ca�erage. Therefore,such co�erag�shall co�er L�nder,but might or might not protect Borrower, Borrawer's equity in the Property, or th� contents af the Property, against any risk, hazard or liability and might provid� greater ar lesser co�erage than was previously in effect. Borrawer acknawledges tha�the cost af the insurance �o�erage sa obtained might significantly exceed the cost of insurance that Borrower could ha�e obtained. Any amaunts disbursed by Lender under this Section 5 shall become additional debt of Borrower s�cured by this Security Instrument. These amounts shall bear interest at the Note rate fram the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required�y Lender and renewals of such policies shall be subject to Lender's ri�ht to disappro�e such policies, shall iriclude a standard mortgage clause, and shall name Lend�r as mortgagee andlor as an additional loss payee. Lender shall ha�e the right to hold the policies and renewal certificat�s. If Lender requires, Borrower shall promptly gi�e to Lend�r a�l receipts of paid premiums and renewal notices. If Borrower obtains any form af insurance co�erage, na� otherwise required hy Lender, for damage �o, or destruction af, th� Property, such policy shall inc�ude a standard mortgage clause and shal� name Lender as mortgag�e andlor as an additional loss payee. In the e�ent of loss, Borrower shall gi�e prompt notice to the insurance carrier and Lender. Lender may make pr�of of loss if not made pr�mptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was requir�d by Lender, shall be appli�d to restoratian or repair of the Property, if the restoration or r�pair is economica�ly feasib�e and Lender's �ecurity is not �essened. During such repair and restoration period, Lender shall ha�e the right �o hold such insurance proceeds until Lender has had an oppartunity ta inspect su�h Property to ensure the work has been completed to Lender's satisfaction, pro�ided that such inspection sha11 be undertaken promptly. Lender may dis�urse proceeds for the repairs and restoration in a single payment or in a series of progress paymen�s as the work is completed. Unless an agreement is made in writing �r Applicabie Law requires interest to be paid on such insurance proceeds, Lender shall not he required to pay B orrower any interest or earnings on su�h praceeds. Fee�for public adjusters, or other third parties, retained by B orrower shall not be paid out of the insurance proceeds and shall be the sole abligation of Borrower. If the restoration or repair is not economically f�asible ar L�nder's security would be lessen�d, the insurance prac�eds shall be applied to �he sums secured by this 5ecurity Instrument, wheth�r ar not then due, with the excess, if any, paid to Borrower. Such insurance praceeds shall be applied zn the order provided for in Section Z. If Borrawer ahandoris the Property, Lender may fi�e, negotiate and settle any a�ailable insurance claim and related ma�ters, If Borrower does not respond within 3� days to a notice from Lender that the insurance carrier has off�red to settle a claim, then Lend�r may negotiate and settle the claim. The 3�-day periad wi�l beain when the notice is gi�en. In either event, or if Lender acquires the Property under 5ection 22 or atherwise, Borrower hereby assigns to L�nder (a}Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the N�te or this 5ecurity Instrument, and (b} any other of Barrower's rights �other than the right to any refund af un�arned premiums paid by Borrower} under all insurance �]0�1C1�S ca�ering the Prop�rty, insafar as such rights are applicabie to the co��rage af the Property. Lender may use the insurance proce�ds either to repair or restore the Prop�rty or ta pay amaun�s unpaid under the Nate or this Se�urity rnstrument, whether or not then due. Q�1�2408309� c�t��.�.94.i s v� NEBRASKA-Single Family-Fanni�MaelFreddie Mac�NI��RM INSTRUMENT WITH MERS Form 3D28�141 VMP� VMR6A�N�j(13�2].QU Wolters Kluwer FinancMal Services �age 7 ot 17 � � r a