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2� 1 ��8349
<br /> 5. Property Insurance. Barrower shall keep the impro�ements now existing or hereaf�er erec#ed on the
<br /> Property insured against loss by f�re, hazards included within the term "extended co�erag�," and any o�her hazards
<br /> including, hut not limited to, �arthQuakes and floods, for which Lender requires insurance. This insurance shal� be
<br /> rna�n�ained in the am�unts (inc�uding deductible le�e�s} and for the periods that Lender requires. What Lender
<br /> requires pursuant to�he preceding sent�n�es can change during the term�f the Loan. The insurance carrier praviding
<br /> the insurance sha�1 be chos�n by Borrawer subje�t to Lender's righ�ta disappro�e Borrower's choice,which right shali
<br /> no�be exercised unreasonably. Lender rr�ay require Borrower to pay, in connection wi�h this Loan, either: �a}a one-
<br /> time charge for flood zone d�termination, certification and trackir�g services; Qr�b}a one-time charge for fla�d zone
<br /> de��rmination and certification servi�es and subseque��charges each ti�e remappings ar simiiar�hanges o�cur which
<br /> reasonably might affect such de�ermination or certifcation. Borrower sha11 also be responsible for the payment of
<br /> any fees imposed by the Fe�eral Emergen�y Manageme�t Agency in connection with the re�ievr��f any flo�d zone
<br /> determination resulting fr�m an ob�eCti�n by Borrower.
<br /> If Borrower fails to maintain any of the coverages descr�bed above, Lend�r may obtain insuran�e co�erage, a�
<br /> Lender's option and Borrower's expense. Lender is under no �bligation to purchase any particular type or amaunt
<br /> of co�erage. Ther efore, such c��erage shall cover Lender, but m igh� or might not pr�t�ct Borrower, Barrower's
<br /> equity in the Property, ar the cantents�f the Proper�y, a�ainst any risk, hazard or liability and might pro�ide grea�er
<br /> or �esser co�erage than vvas pr��iously in effect. Borrawer acknowledges�hat the cast af the insurance ca�erage so
<br /> obtained might significantiy�xceed the cost of insuranc�that Borrower could ha�e obtained. Any am�unts disbursed
<br /> by Lender under this Section 5 shall b�come addi�ional debt of Borrvwer secured by this Security Instrument. These
<br /> amounts sha�1 bear interest at the Note rate from the date of disbursement and shall be payable, vW�th such �nterest,
<br /> upon notice from Lender to Borrvwer requesting payment.
<br /> All insurance policies required by Lender and renewals af such policies sha11 be subject to Lender's righ�to
<br /> disappro�e su�h policies, shall include a standard mortgage clause, and shal�name Lender as mortgagee andlor as an
<br /> additional loss payee. Lender sha11 ha�e the right�a hold the policies and renewal certifi�ates. If Lender requires,
<br /> Borrower shall prompt�y gi�e to Lender all reeeipts of paid premiums and renewal notices. If Borrower abtains any
<br /> form of insurance co�erag�, nat otherwise r�Qu�red by Lend�r, for damage tv, or destruction af, the Property, su�h
<br /> �olicy sha11 include a standard mQrtgage claus� and shall name Lender as mortgagee andlor as an additional �oss
<br /> payee.
<br /> In the e�ent of loss, Borrower shall gi�e prompt n�tice�o the insurance carrier and Lender. Lender may make
<br /> proof of loss if n�t made promptly by Barrawer. Unless Lender and Borrovver otherwis� 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, �f the restora�ion or repair is economically feasible and Lender's security is not lessened.
<br /> During such repair and rest�ration periad, Lender shall ha�e the right to ho�d such insurance pro�eeds until Lender
<br /> has had an opportunity to inspect such Prope�ty to ensure tl�e wark has �een comp�eted t� Lender's satisfaction,
<br /> prQv�ded that such 1�'1S�3�G�1�I7 sha]1 be u�der�aker� promptiy, Lender may disburse proceeds for the repairs and
<br /> restvration in a single payrnent or �n a ser��s of progr�ss�a�m�nts a�the work �s completed. U nless an agreem en�
<br /> is mad� in writing or Applicable Law requires interest�o be pa�d �n su�h insuranc� proceeds, Lender shal� not �e
<br /> reauired to pay Borrower any in�erest or earnings on such praceeds. Fees for public adjusters, vr other third parties,
<br /> retained by Borrower sh�ll not b�paid out of the insurance proceeds and sha1� be the so�e abligation of Borrovr�er.
<br /> If the restoration ar repa�r is not econom�caliy feasible or Lend�r's security��ou1d b�lessened, �he insurance proceeds
<br /> shal�be ap�lied to�he sums secured by this Secur��y Instrument, whether or not then due, with the excess, if any, paid
<br /> to Barrower. Such insurance proce�ds shall be applied �n the order prav�ded for in 5ect�on 2.
<br /> If Borr�wer abandons the Property, Lender may f le, ne�otiate and settle any a�aiiab�e insur�nce claim and
<br /> related matters. If BorrovWer does not respond within 3fl days ta a notice from Lender�hat the insurance�arrier has
<br /> offered to sett�e a �I ai m, then Lender may negoltiate and settle the claim. The 3 D-day period w�l� begin vvhen the
<br /> notice is gi�en. �n either even�, or if Lender acquires the Property under Section 21 or otherwise, Borrawer hereby
<br /> assigns to Lender�a} Borrovv�r's rights to any insurance praCeeds in an amount not �o exceed the am�unts unpaid
<br /> under the Note ar this Security Instrument, and�b}any other of Borrower's rights(other than the right t�any refund
<br /> af unearned premiums paid by Borr�wer} under atl insurance pol�cies co�ering the Property, insofar as such righ�s
<br /> NEBRASKA Singf� Famify-UNIF�RM 1NSTRU[lIIENT Dr�cMB�fc
<br /> MaDI FI ED F�R ❑EPARTMENT �F V ETERANS AFFAi RS - I'V�ERS www.dacr�agi�.�vm
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