|
2� 17��477
<br /> L�AN#: �I 9'I GZ�4G5G
<br /> or g�ound �ents vn the Pro�erty, ifi any, and Community Assv�iation Dues, Fees, and Assessments, if
<br /> any.To the extent that these items are Escrow Items, Barrovrrer shall pay them in the manner pravided
<br /> in Section 3.
<br /> B�rrower sha�! promptly discharg�any �ren which has priority o�er#his Security Instrum�nt unless
<br /> Borrawer:�a}agre�s in writing to the payment of the�bfigati�n se�ured by the lien in a manner a�ceptable
<br /> to Lender, but anly sv Iong as Borrow�r is perfarming such agreement; �b}cantests the lien in goo�faith
<br /> by,or defends against enforcement of the�ien in, legal proceedings which in Lender's opinian operate to
<br /> prevent the enforcement of the I�en while those proceedings are pen�Eng,but only until such proceedings
<br /> are concluded;ar�c}secures frvm the holder of the lien an agre�ment sat�sfa�tory t�Lender sub�rdinating
<br /> �he lien to this Security lnstrum�nt. If Lender determines that any part of the Prape�ty is subj�cf to a�ien
<br /> whi�h can attain priarity a�er this Security Instrument, Lende�may give Borrowe�a notice �dentifying
<br /> the lien. Within 'I�days nf the date on which that not�ce is gi�en, Borrvwer shall satisfy#he lien or#ake
<br /> one�r more of the ac�ions set forth abo�e �n this Section 4.
<br /> Lender may r�qu�re Borrvwer t� pay a one-time �harge �ar a rea� estat� tax verification andlor
<br /> reporting s�rvice used by Lender in connectian with th�s Loan.
<br /> 5. Pr�perty Insurance,Borrawer shall keep the impro�ements now existing or hereaft�rerect�d on
<br /> the Property insured a�ainst Ioss by fire,hazards included within the term"extended coverage,"and any
<br /> other hazards including,but not lim�#ed#o,�arthquakes and fEoods,far which Lender r�qu�res insurance.
<br /> This insurance sha11�e maintained in the amaunfs�including deductihle levels}and for the periods that
<br /> Lender �equires. What Lender requir�s pursuant t� the preceding sent�nces can change dur�ng the
<br /> term of the L�an.The insurance carr��r pro�iding the insurance shall be chosen by Borrower subject t�
<br /> Lender's right t�disappr��e Barrower's choice,which right shall nvt�e exercis�d unreasonably.L�nder
<br /> may requir�B�rrower to pay, in connection with this Loan, e�ther: �a} a one-time charge for flaod zone
<br /> determination, c�rti�cation and tracking ser��ces; or�b}a one-time charg�for flood zone determination
<br /> an�ce�tificatian services and subsequ�nt cha�ges each��me remappings o�similar changes�ccur wh�ch
<br /> r�asonab�y might affe�t such determinati�n or certification. Borrower sha�l a�s� be responsible for the
<br /> payment af any fees imp�sed by th� Federal Em�rgen�y Management Agency �n con ne�#ion with the
<br /> review af any flood zone determination resulting fram an objection by Borrawer.
<br /> It Sorrawsr fails to main#ain any af the ca�erag�s descri�e� aho�e, Lender may obtain insuranc�
<br /> coverage, at Lender's option and Borrower's �xpense. Lender is under no o�ligation to purchase any
<br /> particular type or amount af co�erage.Th�re�ore, such co�erage shall co�er Lender, but m�ght or might
<br /> no#protec�Borrower, Barrow�r's equity'rn th�P�ap�rty,or the contents of the Property,agains�any risk,
<br /> hazard vr liab��ity and might pravide greater or�esser cov�rage than was pre�iously in effect. Borrawer
<br /> acknowledges#hat the�ost of the insurance coverage so obtained might significantly exceed#he cast
<br /> of insurance that Borrower could ha�e abtained,Any amounts disbursed by Lender under this Sectian
<br /> 5 shall bec�me additional debt a�Barrawer se�ured by this Security Inst�umenf. Thes� amoun�s shaf�
<br /> bear interest at the Note rate from the date of disbursement and shall be payable, w�th such interes�,
<br /> upon natice fr�m Lender to Borrower rsquesting payment.
<br /> AI�insu�ance palici�s required by Lender and renewals of such policies shalf be sub�ect to Lender's
<br /> right to disapprove such pol�cies, shall include a standard mortgage cfause, and shall name Lender as
<br /> mortgage�andloras an additianal I�ss payee.Lendershai!ha�ethe�ighttv ho�d the policies and��newal
<br /> certificat�s. I�Lend�r requires, Borr�wer sha��promptly g�v�ta Lender al1 rec�ipts af paid premiums and
<br /> renewa!natices. If Borrvwer obtains any farm of insurance coverage, not otherwise�equired by Lender,
<br /> far damage to, or destruction of,the Pro�erty,such poli�y shall inciude a standard mortgage clause and
<br /> shall name Lende�as mortgagee andlor as an additional loss payee.
<br /> In the e�ent of loss, Borrower shal�give p�ompt notice to th� insurance carrier and Lende�. L�nder
<br /> may make proof of Ioss if not made promp#ly by B�rrower. Unless Lender and Borr�wer ath�rwise agree
<br /> in writing, any insurance proceeds, wh�#her�r nat the underlying insuran�e was required by Lender,
<br /> shal!be a�plied to rsstoration or r�pair vf the Property,if the res#oration��repair is��onomica�ly feasible
<br /> and Lender's securi#y is nflt lessened. During such repa�r and restora#ion period, Lender shafl have the
<br /> right to hald such insurance proceeds until Lender has had an npp�rkunity to insp�Ct such Prope�ty to
<br /> ensure th� work has �een comple#�d tv Lender's satisfac�ion, pro�ided that su�h ins��cfion shall be
<br /> undertaken promptly. L�nder may disburse proceeds for th�r�pairs and restaration in a single paym�nt
<br /> or in a series of progress paym�n#s as the work is Camplete�. Unless an agreement is made�n writing or
<br /> Appli�able Law requires interesf to h�paid on such insurance proceeds, Lender shaf!n�t��required to
<br /> pay Borrvwer any interest a�earn�ngs�n such proceeds.Fe�s for pu��ic ad�usters,or other third parties,
<br /> r�tained by Borrower shalf not be paid out of th�insurance proceeds and shall be#he sole obligation of
<br /> Borrower If the restaration or repair is nat ecanomically feasible or Lender's security would be lessen�d,
<br /> the �nsurance proceeds shall �e applied #o the sums secu�ed by this 5ecurity instrument, whether or
<br /> not�h�n due,with the ex�ess, if any, paid to Borrower. Such insurance proceeds shail be app�ied in the
<br /> order pro�ided�or in 5ec�ion�.
<br /> If B�rrower aband�ns#h� Property, Lender may�le, negatiate and settle any avai�able insurance
<br /> claim and reiated matters. If Borrower does not r�spond wi�hin 34 days to a nvtice f��m Lender that the
<br /> insurance car�ier has offered ta settle a�laim, then Lender may n�gotiate and sett[e fhe claim.The 3�-
<br /> day perivd will begEn when#he no#ic�is given. �n either event, �r��Lender acquires the Prapert un �r �� �
<br /> Initials: �
<br /> NEBRASKA--Single Family--Fannie MaelFreddie Mac UN�F�RM 1NSTRlJMENT Form 3D2811�1
<br /> Ellie Mae,�nc. Page 5 af�� NEEDEED 03�5
<br /> NEEDEED�CLS}
<br /> ..
<br />
|