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201503386
<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 determination, certification and tracking services;or(b)a one-time charge for flood zone
<br /> determination and certiflcation 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 Management 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 Bonower's expense. Lender is under no obligation to purchase any particular type or amount
<br /> of coverage. Therefore, such coverage shall cover Lender, 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 provide greater
<br /> or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so
<br /> obtained might significanfly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed
<br /> by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Insirument. These
<br /> amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest,
<br /> upon notice from Lender to Bonower 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 norices. If Borrower obtains any
<br /> form of insurance coverage, not otherwise required by Lender,for damage to, or destruction of, the Pmperty, such
<br /> golicy 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 /> pmof of loss if not made prompdy by Borrower. Unless Lender and Borrower otherwise agree in wriring, 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 ensure the work has been completed to Lender's satisfaction,
<br /> provided that such inspection shall be undertaken promptly. Lender may dlsburse proceeds for the repairs and
<br /> restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement
<br /> is made in writeng or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall nat be
<br /> required to pay Borrower any interest or earnings on such proceeds. Fees for puhlic adjusters, or other third parties,
<br /> retained by Borrower shall not be paid out of the insurance praceeds 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,with 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, Lender may file, negoriate and setde 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. The 30-day period will begin when the
<br /> notice is given. In either 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 exceed 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 premiums pud by Borrower) under all insurance policies covering the Property, insofar as such rights
<br /> are applicable to the coverage of the Property. Lender may use the insurance 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 shall occupy, establish, and nse the Property as Borrower's principal residence
<br /> within 60 days after the execution of this Security Instrument and shall continue to occupy the Pmperty as Borrower's
<br /> princi.pal residence for at least one year after the date of occupancy,unless Lender otherwise agrees in writing,which
<br /> NEBRASKA--Single Family--Fannie MaelFreddie Mac UNIFORM INSTRUMENT-MERS p���
<br /> Form 3028 1/Ot Page 6 of 15 www.docmagic.arm
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