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200214028
<br />fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and
<br />Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Leader may revoke the waiver as to any
<br />or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay
<br />to Lender all Funds, and in such amounts, that are then required under this Section 3.
<br />Lender may,, at any time, collect and hold Funds in an amount.(a) sufficient to permit .Leader to apply the Funds at the
<br />time, specified under. RESPA, and (b) no mount
<br />t to exceed the maximum a a lender can require under. RESPA. Lender shall .
<br />estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items
<br />or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or sooty
<br />(including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Leader shall
<br />apply the Funds m pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for
<br />holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays
<br />Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in
<br />writing or Applicable Law requires interest to be paid on the Funds, I.eader shall not be required to pay Borrower any interest
<br />or earnings on the Funds. Borrower and Leader can agree in writing, however, that interest shall be paid on the Funds. Leader
<br />shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess
<br />funds in accordance with RESPA. If there is a shortage of "rids held in escrow, as defined under RESPA, Lender shall notify
<br />Borrower as required by RF.SPA, and Borrower shall pay to Lender the amoum necessary to make up the shortage in
<br />accordance with RESPA. her in no more than 12 monthly payments. If thew is a deficiency of Funds held in escrow, as
<br />defined under RESPA, Leader shall notil Borrower as - required by RE'SPA, and Borrower shall pay to Lender the mom
<br />necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any
<br />Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the
<br />Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any,
<br />and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower
<br />shall pa them in the manner provided in Section 3.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees
<br />in writing to the payment of the obligation secured by the lien in a manner acceptable [o Lendeq but only so long as Borrower
<br />is performng such agreement; (b) coatests the lien ie good faint by, or defends against enforcement of the lien in, legal
<br />proceedings which in Leodei s opmm t operate to prevent the enfomement of [hc lien while those procendin�s are pending, but
<br />only ant l such proceedings are concluded; or (c) secures from the holder of the lien an agreement aaosfaclory [o Lender
<br />subordinating the lien m this Security lastrumca, If Lender determines [hat any pat[ of the Property is subject to a lien which
<br />can attain priority over this Securhy Instrument, Leader may give Borrower a notice identifying [he lien. Wdhin 10 days of
<br />[he date on which that notice is given, Borrower shall satisfy the Bea or take one or more of the actions set fond above is this
<br />in pay a one -time charge for a real estate tax verification and /or reporting service used by
<br />Lender in connection with this Loan.
<br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not
<br />limited m, 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 he chosen by Borrower
<br />subject in Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may
<br />require Borrower to pay, in connection with this Loan, either. (a) a one -tune charge for flood zone determination, certification
<br />and tracking services; or (b) a one -time charge for flood zone determination and certification services and subsequent charges
<br />each time rec appings 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 Agency in connection
<br />with the review of any flood zone determination resulting from an objection by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's
<br />option and Borrower's expense. Leader is under no obligation to purchase any particular Iyr or amount of coverage.
<br />Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower s equity in the Property, or
<br />the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was
<br />previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the
<br />cost of insurance that Borrower could have obtained. Any amounts disbursed by Leader under this Section 5 shall become
<br />additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the
<br />date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment.
<br />All insurance policies required by Leader and renewals of such policies shall be subject to Leader's right m disapprove
<br />such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee.
<br />Lender shall have the right in hold the policies and renewal certificates. If Leader requires, Borrower shall promptly give in
<br />Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise
<br />required by Leader, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and
<br />shall name Leader 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 Leader. Lender may make proof of
<br />loss if not made promptly by Borrower. Unless Leader and Borrower otherwise agree in writing, any insurance proceeds,
<br />whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the
<br />restoration or repair is 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 inspect such Property to
<br />ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly.
<br />Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments m the
<br />work is completed. Unless an agreement is made in writing or Applicable Law requires interest to he paid on such Lmurmee
<br />proceeds, Lender shall not be re uired to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or
<br />other third panics, retained by Borrowe: shall. not be pr id out of the insurance proceeds and shall he the sole obligation of
<br />Borrower. If the restoration or repair is not economically feasible or Leader's security would be lessened, the insurance
<br />proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid in 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 my available insurance claim and related
<br />matters. If Borrower does not respond within 30 days to a notice from Leader that the insurance carrier has offered to settle a
<br />claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is ggiven. In either event,
<br />or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Leader (a) Borrower's rights in
<br />any insurance proceeds in an amount not in exceed the amounts unpaid under the Now or this Security Instrument, and (b) any
<br />other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance
<br />Policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may nee the
<br />insurance proceeds either to repair or restore the Property or to pay amounts unpaid under. the Note or this Security Instrument,
<br />whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days
<br />after the execution of this Security Instrument and shat continue. to occupy the Property as Borrower's principal residence for
<br />at least one year after the daze of occupancy, unless Lender otherwise agrees in writing, which consent .. shall not be
<br />unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control
<br />NESRASKA— Single Family Fannie MaelFreddis Mac UNIFORM INSTRUMENT Form 3028 17RI
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