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one -time charge for flood zone determination, certification and tracking services; or (b) .a one -time charge for flood
<br />zone determination and certification services and subsequent charges each time remappings or similar changes occur
<br />which reasonably might affect such determination or certification. Borrower shall also be responsible for the
<br />payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any
<br />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,
<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 disbursed
<br />by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument, These
<br />amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest,
<br />upon notice from Lender to Borrower requesting payment.
<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. Ifs ender requires,
<br />Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains an
<br />form 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 />Take proof of loss if 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 be undertaken promptly. Lender may disburse procceds 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. Fees for public adjusters, or other third parties,
<br />retained by Borrower shall not be paid out of the insurance proceeds and shalf be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds
<br />shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, any, paid
<br />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
<br />related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may negotiate and settle the claim. The 30 -day period will begin when the
<br />notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby
<br />assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid
<br />under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund
<br />of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights
<br />are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the
<br />Property or to ay amounts unpaid under the Note or this Security Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principalresidence
<br />within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's
<br />principal residence for at least one year after the date
<br />of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br />extenuating circumstances exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not
<br />destroy, damage or impair the Property, allow the Property to deteriorate or commit waste
<br />on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order
<br />to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined
<br />pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the
<br />Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in
<br />connection with damage to, or the taking of, the Property, Borrower shall be res onsible for repairing or restoringthe
<br />Property only if Lender has released proceeds for such purposes. Lender may d sburse proceeds for the repairs and
<br />restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or
<br />condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's
<br />obligation for the completion of such repair or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable
<br />cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the
<br />time of or prior to such an interior inspection specifying such reasonable cause.
<br />S. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process,
<br />Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent
<br />gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with
<br />material information) in connection with the Loan. Material representations include, but are not limited to,
<br />representations concerning Borrower's occupancy of the Property as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If
<br />(a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal
<br />proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security
<br />Instrument that as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien
<br />which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has
<br />abandoned the Property, then Lender may do and pay for whatever is reasonable or appropnate to protect Lender's
<br />interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of
<br />the Property, an d securing and/or repairing the Property. Lender's actions can include, but are not limited to
<br />(a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and
<br />(c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security
<br />IInnstrument, including its secured position m a bankruptcy proceeding. Securing the Property includes, but is not
<br />limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water
<br />from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off.
<br />Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or
<br />obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this
<br />Section 9.
<br />NEBRASKA -- Single Family— Fannie Mae/Freddle Mac UNIFORM INSTRUMENT Form 3028 1/01 (page 4 of8 pages)
<br />17213.CV (3/05) 01 -1395 Creative Thinking, Inc.
<br />V .
<br />TQ(00048554)
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