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201508064
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5/17/2016 12:56:32 PM
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11/24/2015 3:58:41 PM
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DEEDS
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201508064
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acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien <br />in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's <br />opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only <br />until such proceedings are concluded; or (c) secures from the holder of the lien an agreement <br />satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any <br />part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender <br />may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is <br />given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section <br />4. <br />Lender may require Borrower to pay a one -time charge for a real estate tax verification and /or <br />reporting service used by Lender in connection with this Loan. <br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected <br />on the Property insured against loss by fire, hazards included within the term "extended coverage," and <br />any other hazards including, but not limited to, earthquakes and floods, for which Lender requires <br />insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the <br />periods that Lender requires. What Lender requires pursuant to the preceding sentences can change <br />during the term of the Loan. The insurance carrier providing the insurance shall be chosen by <br />Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised <br />unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a <br />one -time charge for flood zone determination, certification and tracking services; or (b) a one -time <br />charge for flood zone determination and certification services and subsequent charges each time <br />remappings or similar changes occur which reasonably might affect such determination or certification. <br />Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency <br />Management Agency in connection with the review of any flood zone determination resulting from an <br />objection by Borrower. <br />If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance <br />coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any <br />particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or <br />might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against <br />any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. <br />Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed <br />the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this <br />Section 5 shall become additional debt of Borrower secured by this Security Instrument. These <br />amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with <br />such interest, upon notice from Lender to Borrower requesting payment. <br />All insurance policies required by Lender and renewals of such policies shall be subject to <br />Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name <br />Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies <br />and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid <br />premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise <br />required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard <br />mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. <br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. <br />Lender may make proof of Loss if not made promptly by Borrower. Unless Lender and Borrower <br />otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was <br />required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair <br />is economically feasible and Lender's security is not lessened. During such repair and restoration <br />period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity <br />to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that <br />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 progress payments as the work is completed. Unless an <br />agreement is made in writing or Applicable Law requires interest to be paid on such insurance <br />112989556 112989556 <br />NEBRASKA -- Single Family -- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT WITH MERS <br />NECS3028 Page 6 of 15 <br />201508064 <br />Form 3028 1/01 <br />
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