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201605441
<br /> not 6e exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a)a one-
<br /> time chazge for flood zone determination, certification and tracking services;or(b)a one-time charge for flood zone
<br /> determination and certification services and subsequent charges each time remappings or similaz 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 co�nection with the review of any flood wne
<br /> determination resulting from an objection 6y Bonower.
<br /> If Borrower fails to maintain any of the coverages describeA above, Lender may obtain insurance coverage, at
<br /> Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount
<br /> of coverage. Therefore, such coverage shall wver Lender, but might or might not protect Borrower, Borrower's
<br /> equity in the Property, or the cortenu of the Property, against any risk, hazard or liability and might provide greater
<br /> or lesser coverage than was previously in ef�'ect. Borrower aclmowledges that the cost of the insurance coverage so
<br /> obtained might significantly 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 Instrument. These
<br /> amourts shall bear interest at tk�e Note rate from the date of disbursement and shall be payable, with such interest,
<br /> upon notice from Lender to Borrower 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 standud 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 notices. If Borrower obtains any
<br /> form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such
<br /> policy sha11 include a standazd 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 ro the insurance cazrier and Lender. Lender may make
<br /> proof of loss if not made promp[ly by Borrowec Unless Lender and Borrower otherwise agree in writing, 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 un61 Lende�
<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 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 ageement
<br /> is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be
<br /> required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third pazties,
<br /> retained by Borcower shall not be paid out of the insurance proceeds and shall be the sole o6ligation 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 secared by this Security Instrument,whether or not then due,with the excess, iFany, 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, negotiate and settle any available insurance claim and
<br /> related matters. If Borrower dces not respond within 30 days to a notice from Lender thaz the insurance cazrier has
<br /> offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the
<br /> noNce 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 amourt 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 paid 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 ihe
<br /> Property or to pay amounts unpaid under the Note or this Security Inshument, whether or not then due.
<br /> 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
<br /> within 60 days after the execution of this Security Insffument and shall confinue to occupy the Property as Sorrower's
<br /> principal residence for at least one year after the date of occupancy,unless Lender otherwise agrees in writing, which
<br /> NEERASKA—Single Family--Fannie MaelFredtlie Mac UNIFORM INSTRUMFNT- MERS p���
<br /> Form 3028 1l01 Page 6 of 15 www.doanagic.wm
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