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200206926 5. property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the terse "extended coverage;' and any other hazards including, but not limited o, earthquakes and floods, for which Leader requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen he Borrower subject to Lenders right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Low, either. (a) it onetime charge for Flood zone determination, certification and hacking services; or (b) a one charge for Flood zone determination and certification services and subsequent charges each time remarriage or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of my fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Burrvwer fails to maintain any of the coverages described above, Lender rally obtain insurance coverage, at Lenders option and Borrower's expense. Lender is under no obligation to purchase my particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower. Borrowers equity it the Property, or the contents of the property, against any nsk. hazed or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of fire ire overages obtained might significantly exceed the cost of insurance that Borrower could have obtained � Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument '[best arrowts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such inleresq Upon notice from Lander to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as on additional loss payee. I enter shall have the right to hold the policies and renewal cenifrciams. If Lender requires, Bomowmr shall promptly give to Lender all receipts of paid premiums and renewal notices. if Borrower obtains any f mh of msmwce coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include d standard mortgage clause and shall room Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender, Lender inay make proof of loss if not made promptly by Borrower Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or net the underlying insurance was required by Larder, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, fender shall have the right to hold such viontaricst proceeds until Lender has had an opporwrity to Inspect such property to ensure the work has been completed to Lenders satisfaction, provided that such inspection shall be undertaken promptly. Lender may dlahursc proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. I Inleas an agreement is made in writing or Applicable I aw requires interest to be paid on such in ante proceeds, Lender shall not be required to pay Borrower any interest or earnings oa such proceedsu Fees for public adjuster 9, or other third ponies, retained by Borrower shall not be paid out of the insurance proceeds and shall bethe sole obligation of Borrower If the restoration or repair is not economicahy feasible or Lender's smnnry would be lessened, the insurance proceeds shall be applied to the crone secured by Nis Seeudty Imhument, whether or not then due, with due excess, if any, paid to Borrower. Such insurance proceeds shall be applied in Ne order provided for in Section 2. 0 j� 6(V El (TM1 ...hats h Rhpcfi nfl5 Foh'm3028 1 0 <mL