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202100 775
<br />for flood zone determination and certification services and subsequent charges each time remappings
<br />or similar changes occur which reasonably might affect such determination or certification. Borrower
<br />shall also be responsible for the payment of any fees imposed by the Federal Emergency Management
<br />Agency in connection with the review of any flood zone determination resulting from an objection by
<br />Borrower.
<br />If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance
<br />coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any
<br />particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or
<br />might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against
<br />any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect.
<br />Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed
<br />the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under
<br />this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These
<br />amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with
<br />such interest, 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
<br />right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender
<br />as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and
<br />renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid
<br />premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise
<br />required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard
<br />mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender
<br />may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise
<br />agree in writing, any insurance proceeds, whether or not the underlying insurance was required
<br />by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is
<br />economically feasible and Lender's security is not lessened. During such repair and restoration period,
<br />Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to
<br />inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that
<br />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
<br />an agreement is made in writing or Applicable Law requires interest to be paid on such insurance
<br />proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees
<br />for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance
<br />proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically
<br />feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums
<br />secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
<br />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
<br />claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that
<br />the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim.
<br />The 30 -day period will begin when the notice is given. In either event, or if Lender acquires the
<br />Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to
<br />any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security
<br />Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned
<br />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
<br />or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether
<br />or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal
<br />residence within 60 days after the execution of this Security Instrument and shall continue to occupy
<br />the Property as Borrower's principal residence for at least one year after the date of occupancy, unless
<br />Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br />extenuating circumstances exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower
<br />shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste
<br />on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the
<br />Property in order to prevent the Property from deteriorating or decreasing in value due to its condition.
<br />Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible,
<br />Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage.
<br />If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the
<br />Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has
<br />NEBRASKA -Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS
<br />Wolters Kluwer Financial Services, Inc.
<br />20.3.0.3317-J20201110N
<br />Form 3028 1/01
<br />09/2019
<br />Page 5 of 12
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