|
<br />200607504
<br />
<br />V2 WBCD LOAN I 501154530
<br />shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the
<br />shortage in accordance with RESPA, but In no more than 12 monthly payments. If there is a deficiency of Funds held
<br />In escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to
<br />Lender the amount necessary to make up the deficiency In accordance with RESPA, but In no more than 12 monthly
<br />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; Uens. Borrower shall pay all taxes, assessments, charges, fines, and Impositions attributable to the
<br />Property which can attain priority over this Seourlty Instrumant, leasehold payments or ground rents on the Property,
<br />Ifany, and Community Association Dues, Fees, andAssessments,lfany. To the extentthatthese items are Esorowltems,
<br />Borrower shall pay 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)
<br />agrees In writing to the payment oHhe obligation secured by the lien In a manner aoceptable to Lender, but only so long
<br />as Borrower Is performing suoh agreement; (b) contests the lien in good faith by, or defends against enforcement oHhe
<br />lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those
<br />proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Seourity Instrument. If Lender determines that any part
<br />of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. Within 10 days ofthe date on which that notice is given, Borrower shall satisfy the lien or take
<br />one or more of the actions set forth above In this Section 4.
<br />Lender may require Borrower to pay a one-tIme charge fora real estate tax veritlcatlon and/orreportlng servloe used
<br />by Lender in connection with this Loan.
<br />5. Property Insurance. Borrower shall keep the Improvements now existing or hereafter ereoted on the Property
<br />insured against loss by fire, hazards Included within the term "extended coverage," and any other hazards including,
<br />but not limited to, earthquakes and floods, for which Lender requires insurance. This Insurance shall be maintained in
<br />the amounts (Including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to
<br />the preceding sentences can change during the term of the Loan, The insurance carrier providing the insurance shall
<br />be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, Which right shall not be exercised
<br />unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood
<br />zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and
<br />certification services and subsequent charges each time remappings or similar changes oocur which reasonably might
<br />affeot such determination or certification. Borrower shall also be responsible for the payment of any fees Imposed by
<br />the Federal Emergency Management Agency In connection with the review of any flood zone determinatIon resulting
<br />from an objection by Borrower.
<br />If Borrower falls 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 or amount of
<br />coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in
<br />the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser
<br />coverage than was previously In effect. Borrower acknowledges that the cost of the Insurance coverage so obtained
<br />might significantly exceed the cost of Insurance that Borrower could have obtained, Any amounts disbursed by Lender
<br />under this Seotion 5 shall become additional debt of Borrower seoured by this S~lCurity Instrument. These amounts shall
<br />bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notIce from
<br />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
<br />an additional loss payee. Lender shall have the right to hold the policies and renewal oertiflcates. If Lender requires,
<br />Borrower shall promptiy give to Lender all receipts of paid premiums and renewel notices. If Borrower obtains any form
<br />of insurance coverage, not otherwise required by Lender, fordamage to, or destruction of, the Property, such policy shall
<br />include a 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 promptly by Borrower. Unless Lender and Borrower otherwise agree In writing, any insurance
<br />prooeeds, whether or not th9 underlying Insurance was required by Lender, shall be applied to restoration or repair of
<br />the Property, ifthe restoration orrepalrls economloallyfeasible and Lender's security Is not lessened. During suoh repair
<br />and restoration period, Lender shall have the rlghtto hold such Insurance proceeds until Lender has had an opportunity
<br />to inspect such Property to ensure the work has bgen completed to Lender's satisfaction, provided that such inspection
<br />shall be undertaken promptly. lender may disburse proceeds for the repairs and restoration in a single payment or In
<br />a series of progress payments as the work Is completed. Unless an agreement Is made in writing or Applicable Law
<br />requires interest to be paid on such Insurance proceeds, Lender shall not be required to pay Borrower any Interest or
<br />earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out
<br />oHhe Insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair Is not economically
<br />feasible or Lender's security would be lessened. the Insurance proceeds shall be applied to the sums secured by this
<br />Security Instrument, whether or not then due, with the exoess, If any, paid to BorrOWer. Suoh insurance proceeds shall
<br />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 has offered to
<br />settle a claim, then Lender may negotiate and settle the claim. The 3D-day period will begin when the notice is given.
<br />In either event, or If Lender acquires the Property under Seotion 22 or otherwise, Borrower hereby assigns to Lender
<br />(a) Borrower's rights to any Insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this
<br />SQcurlty Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums
<br />paid by Borrower) under all insurance pol1des covering the Property, insofar as suoh rights are applioable to the
<br />coverage of the Property. Lender may use the Insuranoe proceeds either to repair or restore the Property or to pay
<br />amounts unpaid under the Note or this Seourity Instrument, whether or not then due,
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within
<br />60 days after the execution oHhls Security Instrument and shall continue to occupy the Property as Borrower's princlp
<br />
<br />NEBRASKA-Slngla Famlly-Fannlll Mae/Fraddl8 Mac UNIFORM INSTRUMENT Form 30211 1/01
<br />@ 1999-2004 Online Documanb;, Inc. Page 4 of 9
<br />
<br />Initials I
<br />
<br />
|