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<br />200607624
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<br />Lender may require Borrower to pay, in coonection with this Loan, either: (a) a one-time charge for flood zone
<br />determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification
<br />services and subsequent charges each timc remappings or similar changes occur whicb reasonably might affect sucb
<br />determination or certification. Borrower shall also be responsible for the payment of any fees imposed oy the Federal
<br />Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection
<br />by 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 purcbase any particular type or amount of
<br />coverage. Therefore, such coverage shall cover Lender, but might or mig;ht not protect Borrower, Borrower's equity in the
<br />Property, or tbe contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage
<br />than was previously m effect. Borrower acknowledges that the cost ofthc insurance coverage so obtained might significantly
<br />exceed the cost of insurance that Borrower could bave obtained. Any amounts disbursed by Lender under this Section 5 shall
<br />become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate
<br />from thc date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting
<br />payment
<br />Ail 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 />additJonalloss payee. Lender shall bave 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. IfBorTOwer obtains any form of insurance .
<br />coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall includc a
<br />standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee.
<br />In the event ofloss, Borrower sball give prompt notice to the insurance carrier and Lender. Lendermaymakeproof
<br />ofloss if not made promptly by Borrower. Unless Lender 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 ofthe Property, if
<br />the restoration or rerair is economically feasible and Lender's security is nOllessened. During sucb repair and restoration
<br />period, Lender shal have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such
<br />Property to ensure the work has been completed to Lender's satisfi1ction, provided that such inspection shall be undertaken
<br />promptly. 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 completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid
<br />on such insurance proceeds, Lender shall not be requined to pay Borrower any interest or earnings on such proceeds. Fees
<br />for public adjusters, or other third parties, retained by Borrower shall not be paid out ofthc insurance proceeds and shall be
<br />the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lendcr's security would be
<br />lessened, the insurance proceeds shall be applied to thc sums secured by this Security Instrument, wbether or not then due,
<br />with the excess, ifany, paid to Borrower. Sucb insurance proceeds shall be applied in the order provided for in Section 2.
<br />IfBorrower abandons the Property, Lender may file, negotiate and settle any availablc insurance claim and related
<br />matters. If Borrower does not respond within 30 days to a notice from Lender that tbe insurance carrier bas offured to settle a
<br />claim, then 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 under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's
<br />rigbts 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 than the right to any refund of unearned premiums paid by Borrower) under all
<br />insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may
<br />use the insurance proceeds either to repair or restorc the Property or to pay amOllllts unpaid under thc Note or this Security
<br />Instrument, whetber 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 of this Security Instrument and shall continue to occupy the Property a.' Borrower's principal
<br />residence for at least one year after the date
<br />of occupancy, unless Lender otherwise agrees in writing, which consent sball not be unreasonably withheld, Or unIcss
<br />extenuating circumstances exist which are beyond Borrower's control.
<br />7. Preservatlou, Maintenance and Protection ofthe Property; Inspections. Borrower shall not destroy,
<br />damage or impair thc Property, allow the Property to deteriorate or eommit waste
<br />on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to
<br />prevent the Property from deteriorating Or decreasing in value due to its condition. Unless it is deterrruned pursuant to
<br />Section 5 that repair or restoration is not economically feasihle, Borrower shall promptly repair the Property if damaged to
<br />avoid further deterioration or damage. Ifinsurance or condemnatiC)ll proceeds are paid in connection with damage to, or the
<br />taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender bas released
<br />proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series
<br />of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or
<br />restorc the Property, Borrower is not relieved of Borrower' s obligation for the completion of such repair or restoration.
<br />Lender or its a~ent may makc reasonable entries upon and inspections of the Property. If it has reasonable cause,
<br />Lender may inspect the mterior of the improvements on the Property. Lender shall give Borrower notice at the time of Or
<br />prior to sucb an interior inspection specitying such reasonable cause.
<br />8. 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 gave
<br />materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material
<br />information) in connection with tbe Loan. Material representations include, but are not iimited to, representations concerning
<br />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 Instrument (s~h
<br />as a proceeding m 'bankruptcy, probate, for condemnation or forfeiture, for enforcement of a hen which may attam pnonty
<br />over this Security Instrument or to enforce laws or regulations), or (c) Borrower bas abandoned the Property, then Lender
<br />may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this
<br />Security Instrument, including protecting and/or asse.ssing the value of the Property, and securing and/or repairing the
<br />Property. Lender's actIOns can include, but arc not llUllted to: (a) paymg any sums secured by a lien whicb bas pnonty over
<br />this Security Instrument; (b) appearin~ in court; and (c) payin~ reasonable attorneys' fees to protect its interest m the
<br />Property and/or rights under thiS SecurIty lnstn.unenl, mcluding Its secured pOSition m a bankruptcy proceeding. Secunng
<br />the Property incluaes, but is not limited .to,. entering 1:?e Property to make rerairs, change locks, replace or board up doors
<br />and windows, drain water from ptpes, ehmmate building or other code vlolallons or dangerous condinons, and have utilities
<br />nnned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and IS not under any
<br />duty or 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 />Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this
<br />Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable,
<br />with sucb interest, upon notice from Lender to Borrower requesting payment.
<br />If this Security Instrument is on a leasehold, Borrower shaIl comply with all the provisions of the lease. If!3orrower
<br />acquires fee title to the Property, the leasehold and the fee title shaIl not merge unless Lender agrees to the merger m wntmg.
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<br />NEBRASKA-SlnJie Family-F.oole MoeJFreddle M.. UNIFORM INSTRUMENT
<br />9754.CV (12105) 260074
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<br />Forlll )028 1/01 (pap 4 af 8 pagu)
<br />Creollve Thlnklne, 100:.
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<br />GOTO(oo04de2d)
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