201608039 - Laserfiche WebLink

Browse

2� 1 ��8�39 s�rvices and subsequent charges�aeh time remappings or similar changes occur which reasonably might affect such de�ermination or certification.Borrower shal�also be responsible far the payment of any fees imposed by the Federal Emergency Management Agency in c�nnection with the review af any flood�one determination resulting from an objection by B�rrawer. If Borrower fails to maintain any of the co�erages descrihed abQ�e,Lender may obtain insurance coverage, at Lender's option and Barrower's expense.Lender is und�r no obligation to purchase any particular type or amaunt of covera�e. Therefore,such caverage shatl cover Lender,but might or might not pro#.ect Bo�rower, Borrower's�quity in the Pr�perty,ar the contents of the Property,against any risk,hazard or liability and might pro�ide gr�ater Qr lesser coverage than was previously in effeet,Borra�uer acknowledges that the cost of the insurance coverage so abtained might significantly exceed the cost of insurance that Borro�ver�ou1d ha�e o�ta.ined.Any amounts disbursed by Lender under this Section�shall hecome additional debt of Borro�ver secured by this Security Instrument.These amounts sha1l bear in�erest at the Note rate from the date of disbursement and sha�I be payable,with suc�int�rest,upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of su�h policies sha11 be subject to Lender's right ta disapprove such policies�shall in�lude a standard mor�gage clause,and shall name Lender as mortgagee andlor as an additiona�loss payee. L�nder shal�hav�the right to hold the policies and renewal certificates. �f Lender requires, Borrawer sha11 promptly give to Lender a11 receipts�f paid premiurns and renewal natices. If Barrawer obtains any form�f in5uranc�coverage,nat atherwise required by Lender, for damage to,or de�truction of,the Property, such policy shali inciude a standard mortgage clause and shall name Lender as mortgagee andlar as an additianalloss pay�e. In the ev�nt of 1oss,Sorrower shall gi�e prompt notic�ta the insurance carrier and Lender. Lend�r may make proaf of loss if not made promptly by Bonower,Unless Lender and Bonower otherwise agree in writing,any insurance proceeds,whether or not the underlying insurance was required by Lender,sha1l be appl�ed to restoratian ar repair of the Prop�rty, if th�restoration or repair i��c�nomically feasible and Lender's secur�ty�s nat lessened. During such repair and restoration period,Lender shall have the right�o hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the tvark has been completed to Lender`s satisfaction,provided that such inspectian shall be undertaken promptly. Lender may disburse proceeds f�r the repairs and restoration in a single payment or in a series of progress payments as the work is completed.Unless an agreement is made in�vriting or Applicable Lat� requires interest to be paid on su�h insurance proceeds,Lender shall not be required ta pay Borrawer any rnterest or eamings on�uch proceeds.Fees for public adjusters,or other third parties,reta.ined by Borrower shall not be paid out of the insurance proceeds and shall be the sale obligation of Borraw�r, �f the restarati�n ar repair is not econornically feasib�e or Lender's security would be lessened,the insurance praceeds shall be applied to the�ums secured by this�ecurity Instrument,�vhether ar not then due,�vith the excess, if any, paid to Borrower, Such insurance proeeeds shall be applied in the order pro�ided for in Section 2. If Borrower abandons the Property,L�nder may fi1e,negotiate and se�tle any available insurance c�aim and related matt�rs. If Borro�uer do�s not respond within 3�days to a notice from Lender#hat the insuranee �arrier has affered to settle a claim,then Lender may negotiate and settle the claim.The 3�-day period will begin�hen the notice is gi�en. In either event,ar if Lender aequires the Property under Sectifln 22 or otherwise,Borrower hereby assigns to Lender(a}�orrower's rights to any insuranee proceeds in an amount not to exceed th�amounts unpaid under the Note ar�his Security instrument,and�b}any other of gorrower's rights(other than the right to any refund of unearried premiums paid by Borro�er}under a11 �nsura�ce policies covering the Property,insofar as such ri�hts are applicable ta the coverage af the Proper�y.Lender may use the insurance proceeds either to repair or restare the Pr�perty or ta pay amounts unpaid under the Note or th�s Security Instrument,whether or not then due. NE6RASI�fASin�le Family-Fannie MaelFreddie Mac LiNiFQRM IN5TRUMENT WfTH MERS Form 3028 91�1 VMP� VMP6A{NE}{1342).Q4 Wolters Kluwer Financial Services Page 7 of 17 q� 365595817 D�33 46 �717