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200205987
<br />that notice is given, Borrower shall satisfy the lien or take one or more of the actions set torch above in this Section
<br />4.
<br />Lender may require Borrower to pay a one -time charge for a real estate tax verification and /or reporting
<br />service used by Lender in connection with this Loan.
<br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
<br />Property insured against loss by tire, hazards included within the term "extended coverage,' and any other hazards
<br />including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be
<br />maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender
<br />requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier
<br />providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice,
<br />which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan,
<br />either. (a) a one -time charge for flood zone determination, certification and tracking services; or (b) a one -time
<br />charge for Flood zone deterounation and certification services and subsequent charges each time remappings or
<br />similar changes occur which reasonably might affect such determination or certification. Borrower shall also be
<br />responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection
<br />with the review of any flood zone determination resulting from an objection by Borrower_
<br />If Borrower tails to maintain any of the coverages described above- Lender may obtain insurance coverage,
<br />at Lender's option and Borrower's expense_ Lender is under no obligation to purchase any particular type or amount
<br />of coverage. therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's
<br />equity in the Property, or the contents of the Property, against any risk, hazard or liability, and might provide greater
<br />or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so
<br />obtained might significantly exceed the cost of insurance that Borrower could have obtained_ Any amounts
<br />disbursed by Lender under this Section 5 shall become additional debt of Rorrnwer s'ccuied Inc this Security
<br />Instrument These amounts shall hear interest at the Note are from the date of disbursement and shall he payable,
<br />with such interest, upon notice from Lender to Burrower requesting payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject Lo Lender's right
<br />to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as
<br />an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires.
<br />Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any
<br />Corm of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such
<br />policy shall include a standard mortgage clause and shall name Lender as mortgagee and /or as an additional loss
<br />payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender_ Lender may
<br />make proof of loss it not made promptly by Borrower, Unless Lender and Borrower otherwise 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, if the restoration or repair is economically feasible and Lender's security is not lessened.
<br />During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender
<br />has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,
<br />provided that such inspection shall he undertaken promptly_ Lender may dishursc proceeds for the repairs and
<br />restoration in a single payment or in a series of progress payments as the work is completed- Unless an agreement is
<br />made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be
<br />required to pay Borrower any interest or earnings on such proceeds, Fecs' for public adjusters, or other third parties,
<br />retained b} Borrower shall not he paid out of Lhc insurance proceeds and shall be [tic sole obligation of Borrower_ If
<br />the restoration or repair is not cuononuically feasible or Lender's secr i[y would be lessened, [he insurance pnmeeds
<br />shall be applied to the sums secured by [his Security Instrument, whellecr or not Oren due, with the excess, if any,
<br />paid lo Burrower_ Such insurance proceeds shall be applied in the order provided for in Section 2,
<br />If Burrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and
<br />related matters. If Borrower floes not respond within 30 days to a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lcndcr may negotiate and settle the claim. The 30 -Jay period will hegin when the
<br />notice is given In either event. or if Lcndcr acquires the Property under Section 22 or otherwise, Borrower herb)'
<br />assigns to Lender (a) Borrower's' rights' to any insurance proceeds in an amount riot to exceed the amounts unpaid
<br />under the Note or this Security Instrument. and (b) any o[hcr ofBorrowcr's rights (other than [he right Lo any refund
<br />of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights
<br />NEBRASKA — 'inJ,L,,aly —Fo,uw NNe /Freddie Nxa UNIFORM INSTRUMENT Fnnn 30281/01
<br />ocs U1\1 ' !PuKe 5 112 paSe )
<br />000mxus vex 11/18 /2000
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