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<br />carrier providing the insurance, subject to Lender's right to disapprove Borrower's choice, which right will not be
<br />exercised unreasonably.
<br />(b) Failure to Maintain Insurance. If Lender has a reasonable basis to believe that Borrower has failed to
<br />maintain any of the required insurance coverages described above, Lender may obtain insurance coverage, at Lender's
<br />option and at Borrower's expense. Unless required by Applicable Law, Lender is under no obligation to advance
<br />premiums for, or to seek to reinstate, any prior lapsed coverage obtained by Borrower. Lender is under no obligation
<br />to purchase any particular type or amount of coverage and may select the provider of such insurance in its sole
<br />discretion. Before purchasing such coverage, Lender will notify Borrower if required to do so under Applicable Law.
<br />Any such coverage will insure Lender, but might not protect Borrower, Borrower's equity in the Property, or the
<br />contents of the Property, against any risk, hazard, or liability and might provide greater or lesser coverage than was
<br />previously in effect, but not exceeding the coverage required under Section 5(a). Borrower acknowledges that the cost
<br />of the insurance coverage so obtained may significantly exceed the cost of insurance that Borrower could have
<br />obtained. Any amounts disbursed by Lender for costs associated with reinstating Borrower's insurance policy or with
<br />placing new insurance under this Section 5 will become additional debt of Borrower secured by this Security
<br />Instrument. These amounts will bear interest at the Note rate from the date of disbursement and will be payable, with
<br />such interest, upon notice from Lender to Borrower requesting payment.
<br />(c) Insurance Policies. All insurance policies required by Lender and renewals of such policies: (i) will be
<br />subject to Lender's right to disapprove such policies; (ii) must include a standard mortgage clause; and (iii) must name
<br />Lender as mortgagee and/or as an additional loss payee. Lender will have the right to hold the policies and renewal
<br />certificates. If Lender requires, Borrower will promptly give to Lender proof of paid premiums and renewal notices.
<br />If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction
<br />of, the Property, such policy must include a standard mortgage clause and must name Lender as mortgagee and/or as an
<br />additional loss payee.
<br />(d) Proof of Loss; Application of Proceeds. In the event of loss, Borrower must give prompt notice to the
<br />insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Any insurance
<br />proceeds, whether or not the underlying insurance was required by Lender, will be applied to restoration or repair of
<br />the Property, if Lender deems the restoration or repair to be economically feasible and determines that Lender's
<br />security will not be lessened by such restoration or repair.
<br />If the Property is to be repaired or restored, Lender will disburse from the insurance proceeds any initial amounts
<br />that are necessary to begin the repair or restoration, subject to any restrictions applicable to Lender. During the
<br />subsequent repair and restoration period, Lender will have the right to hold such insurance proceeds until Lender has
<br />had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction (which may
<br />include satisfying Lender's minimum eligibility requirements for persons repairing the Property, including, but not
<br />limited to, licensing, bond, and insurance requirements) provided that such inspection must be undertaken promptly.
<br />Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as
<br />the work is completed, depending on the size of the repair or restoration, the terms of the repair agreement, and
<br />whether Borrower is in Default on the Loan. Lender may make such disbursements directly to Borrower, to the person
<br />repairing or restoring the Property, or payable jointly to both. Lender will not be required to pay Borrower any interest
<br />or earnings on such insurance proceeds unless Lender and Borrower agree in writing or Applicable Law requires
<br />otherwise. Fees for public adjusters, or other third parties, retained by Borrower will not be paid out of the insurance
<br />proceeds and will be the sole obligation of Borrower.
<br />If Lender deems the restoration or repair not to be economically feasible or Lender's security would be lessened
<br />by such restoration or repair, the insurance proceeds will be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds will be applied in the order
<br />that Partial Payments are applied in Section 2(b).
<br />(e) Insurance Settlements; Assignment of Proceeds. If Borrower abandons the Property, Lender may file,
<br />negotiate, and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to
<br />NEBRASKA -Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT (MERS)
<br />Page 7 of 18
<br />IDS, Inc. - 93193 Borrower(s) Initial
<br />Form 3028 07/2021
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