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FLOOD INSURANCE NOTICE 200002123 P"rinCipl Loantate Maturity Loan Nn Call Collateral AcCOUnt Offic ®r Initials X7;250.00 02-09 -2400 02 -15 -2003 * *� ...._. 6370007418 References in the shaded area are for Lender's use only and do not limit the applicability of this document to any particular loan or item. Any item above containing "* * *" has been omitted due to text length limitations. Grantor: WILLIAM R LEE PATRICIA A LEE 4234 NEVADA AVE GRAND ISLAND, NE 68803 Lender: Bank One, NA 100 East Broad Street Columbus, OH 43271 GRANTOR'S LOAN. Bank One, NA ( "Lender ") is currently considering a loan that will be secured by an interest in improved real property located in HALL County, State of Nebraska, and commonly known as 4234 NEVADA AVE, GRAND ISLAND, NE 68803. Pursuant to federal regulations, Lender must evaluate whether the property is in an area that is particularly subject to flood risk. Lender has determined from information available to Lender, including a review of Map No. 0050C dated September 29, 1986, that the building or mobile home securing the loan for which you applied is or will be located in an area with special flood hazards. Therefore Lender is providing you with the following notice: PARTICIPATING COMMUNITY AGREEMENT. The area has been identified by the Director of the Federal Emergency Management Agency (FEMA) as a special flood hazard area using FEMA's Flood Insurance Rate Map or the flood Hazard Boundary Map for the following community: HALL COUNTY *. This area has at least a one percent (1 %) chance of a flood equal to or exceeding the base flood elevation (a 100 -year flood) in any given year. During the life of a 30 -year mortgage loan,_ the risk of a 100 -year flood in a speciai flood hazard area is (26 %). Federal law allows a tender and borrower jointly to request the Director of FEMA to review the determination of whether the property securing the loan is located in a special flood hazard area. If you would like to make such a request, please contact us for further information. PARTICIPATING COMMUNITY NOTICE. The community in which the property securing the loan is located participates in the National Flood Insurance Program (NFIP). Federal law will not allow Lender to make you the loan that you have applied for if you do not purchase flood insurance. The flood insurance must be maintained for the life of the loan. If you fail to purchase or renew flood insurance on the property, Federal law authorizes and requires Lender to purchase the flood insurance for you at your expense. ► Flood insurance coverage under the NFIP may be purchased through an insurance agent who will obtain the policy either directly through the NFIP or through an insurance company that participates in the NFIP. Flood insurance also may be available from private insurers that do not participate in the NFIP. ► At a minimum, flood insurance purchased must cover the lesser of: (1) the outstanding principal balance of the loan and any prior liens on the property securing the loan; or (2) the maximum amount of coverage allowed for the type of property under the NFIP. Flood insurance coverage under the NFIP is limited to the overall value of the property securing the loan minus the value of the land on which the property is located. ► Federal disaster relief assistance (usually in the form of a low- interest loan) may be available for damages incurred in excess of your flood insurance if your community's participation in the NFIP is in accordance with NFIP requirements. By signing below, you are acknowledging that you received this form prior to the closing of the transaction. In addition, by signing below, you are agreeing to obtain Federal Flood Insurance, if available, for the full unpaid principal balance of the loan and any prior liens on the property securing the loan, up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such insurance for the term of the loan. You also understand that flood insurance may be purchased under the National Flood Insurance Program or from private insurers. Acknowledged and Agreed to this 9th Day of February, 2000. GRANTOR: WILLIAM R LEE, Individually PATRICIA A LEE, Individually ` [LASER PRO Leming, Reg. U.5. Pat. & T . OFF., Var 5.10.05.01 Icl 1997,2000 CFI Pro Services, Inc. All RlgM1 R—r— - NE/,OH N, \CFl5M5 09 00\CFI\LPL1G30. FC TR- 63]0)418 PR- EOVNOENEI