201702359 - Laserfiche WebLink

Browse

2� 17�2359 ser�ices and subsequent charges each t�me remappings or similar changes occur which reasonably might affect such determination �r certifica�ian. Bnrrawer shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection vvith the re�iew of any flood zone determination result�ng from an objec�ian by B�rr�wer. If Borrower fails to maintain any of the co��rages described aha�e, Lender may obtain insurance coverage, at Lender`s optian and Borrower's expense. Lender is under nn obligation to purchase any particular type or amaunt of ca�erage. Therefore, such coverag� sha11 cover Lender, but might or might not pr�tect Borrower, Borrower's equity in the Property, or the contents of the Praperty, against any risk, hazard ar liability and might pro�ide greater or lesser ca�erage�han was pre�iously in effect. Borrower acknowledges that the cost af the insurance co�erage so obtained might significantly exceed the cos�of�nsurance that B�rravcrer cauld ha�e obtained. Any amounts disbursed by Lender under this Sectian 5 shall become add�t�ona� debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date af disbursement and shall be paya�le, with such interest, upon notice from Lender to Borrower requesting paym�nt. All �nsurance policies reauired by Lender and renewals of such p�licies shall be subject to Lender`s right to disappra�e such policies, shall include a standard martgage clause, and shall name Lender as mortgagee andlor as an additional loss payee. Lender shall ha�e the right to hold the p�licies and renewal certificates. If Lender requires, Borrower shall promptly gi�e ta Lender all receipts of paid premiums and renewal natic�s. If Borrower obtains any form of insuranc�co�erage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and sha11 name Lender as mortgagee ar�dlar as an additianal loss payee. In the e�ent af loss, Borrovver shall gi�e prompt notice to the insurance carrier and Lender. Lender may mal�e proof of loss if nflt made promp�ly by Barrower. Unless Lender and Barrawer otherwise agree in writing, any insuran�e pr��eeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Prop�rty, if the restoratinn or repair �s econamically feasible and Lender's security is not lessened. During such repa�r and restora�ion per�od, Lender shall ha�e the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property tQ ensure the work has been completed�o L�nder`s satisfaction, pra�ided that such insp�Ctivn shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment�r in a series of pragress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requ�res interest to be pa�d on such �nsurance proceeds, Lender sha��not�e reQuired to pay Borrower any interest ar earnings on such proceeds. Fees for public adjusters, or o�her third parties, retained by Borrawer shall not be paid out of the insurance praceeds and shall be the sole abligatinn of Borrower. �f the res�oration or repair is n�C economically feasible ar Lend�r's security would be lessened, the insurance proceeds shall be applied to the sums secured by this �ecurity �nstrument, whether or not then due, with the excess, if any, paid�o Barrawer. Such insurance proceeds shall be applied in the order pro�ided for in Section 2. If Borrower abandons the Property, Lender may file, negatiate and settle any a�ailable insurance claim and related matters. If Borruwer does not respond within 3� days to a notice from Lender that the insuran�e carrier has offered�a settle a claim, then Lender may negotiate and settle�he claim. The 3�-day period wi11 begin when the notice is gi�en. In either e�ent, or if Lender acauires the Proper�y und�r Section 22 or atherv��se, Borrower hereby assigns t�Lender�a}Borrovver's rights to any insurance proceeds �n an amount nat�o exceed the amounts unpaid under�he Note or this Security Instrument, and(b� any o�her of Borrower's rights�other than the right to any refund of unearned premiums paid by Borr�wer}under all insurance policies co�ering the Prflperty, insafar as such rights are appiicable to�he coverage of the Property. Lender may use the insuran�e proceeds either ta repair or restare the Property or ta pay amounts unpaid under the Note or this Secur�ty Instrumen�, whether or not then due. �3zso4o NEgFtASKA-Single Family-Fannie MaelFreddie Mac UNIF�RM INSTRUMENT W�TH MERS Form 30�8 110'I VMP� VMP6A(NE}{1302} Wolters Kluwef Financial 5ervices Page 7 af 17