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200213515
<br />Lender may require Borrower to pay a one -time charge for a real estate tax verification and/or reporting service used
<br />by Lender in connection with this Loan.
<br />5. Pruperly Insurance. Borrower shall keep the improvements taw existing or hereafter erected on the Property
<br />insured against loss by foe, hazards included within the Tenn `extended coverage," and any other hazards including, but not
<br />limited to, earthquakes and floods, for which Lender requires insurance- This insurance shall be maintained in the amounts
<br />(including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding
<br />sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by
<br />Bomiwer subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender
<br />may require Borrower to pay, in connection with tins Loan, either (a) a one -time charge for flood zone dclemtination,
<br />certification and tracking services: or (b) a one -time charge for flood zone determination and certification services and
<br />subsequent charges each time remappiugs of similar changes occur which reasonably might affect such determination or
<br />certification. Borrower shall also be responsible for the paymcnt of any fees imposed by the Federal Emergency
<br />Management Agency in comecton 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 coverage, at
<br />Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type of enonnt of
<br />coverage. Therefore, such coverage shall cover Lender. but might or might not protect Borrower. Borrower's equity in the
<br />Property, or the contents of (lie Property, against any risk- hazard or liability and might previde greater or lesser coverage
<br />than was previously in effect. Borrower acknowledges that the cast of the insurance coverage so obtained night significantly
<br />exceed the cast of insurance that Borrower could (rave obtained. Any amounts disbursed by lender tinder this Section 5 shall
<br />become additional debt of Borrower secured by this Security IOSlnlrrlent. These amounts shall bear interest at the Note rate
<br />tram the date of disbursement and shall be payable, will such interest, upon notice from Lender h) Borrower requesting
<br />paymcnt.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an
<br />additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower
<br />shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance
<br />coverage, not otherwise required by Lender, for damage lo, or destruction of, the Property, such policy shall include a
<br />standard 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 may make proof
<br />of loss if not made pronptly by Borrower Unless Lender and Borrower otherwise agree m writing, ally insurance proceeds,
<br />whether or not the underlying insurance was natured by Lender, shall be applied to restoration or repair of the Property, if
<br />the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration
<br />period. Lender shall have the right to hold such insurance proceeds fund Lender has had an opportunity to inspect such
<br />Properly, to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
<br />prarnplly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress
<br />payments as the work is annpleled. Unless an agreement is made in writing or Applicable Law inquires interest to be paid
<br />on such insurance proceeds, Lender shall not be inquired to pay Borrower any interest or cannims on such proceeds. Fees for
<br />public adjusters, or other third parties, retained by Borrower shall not he paid out of the insurance proceeds and shall be the
<br />sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened,
<br />the insurance proceeds shall be applied to the suns secured by this Security Intramural, whether or not then due, with the
<br />excess, if any, paid to Borrower 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 claim and related
<br />matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier tins offered to settle a
<br />claim, (lien Lender may negotiate and settle the claim. The 30 -day period will begin when the notice is given. In either
<br />event, or if Lender acquires the Property wider Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's
<br />rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument,
<br />and (b) any other of Borrower's rights (other them the right to any refund of incurred prelnlunts p dd by Borrower) under all
<br />Loan No: 3282586 Initials: �� • &L — —
<br />Nebnoka mad or Trosd- Single F.Ay -Farade
<br />—THE COMPr.n9N(1E SOURCE, INC
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<br />II III Page p6l„oIIIfII 13 gp y
<br />MFRS Modified F..3028 01101
<br />IUOINE IIL00
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