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<br />200701335
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<br />Loan No: 136593
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<br />Data ID: 470
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<br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected
<br />on the Property insured against loss by fire, hazards included within the term "extended coverage," and
<br />any other hazards including, but not limited to, earthquakes and floods, for which Lender requires
<br />insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the
<br />periods that Lender requires. What Lender requires pursuant to the preceding sentences can change
<br />during the term of the Loan. The insurance carrier providing the insurancc shall bc chosen by
<br />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
<br />one-time charge for flood zone determination, certification and tracking services; or (b) a one-time
<br />charge for tlood zone dctermination and certitlcation scrviees and subsequent charges each time
<br />remappings or similar changes occur which reasonably might affect such determination or certification.
<br />Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency
<br />Management Agency in connection with the revicw of any flood zone determination resulting from an
<br />objection by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance
<br />coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any
<br />particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might
<br />not protect Borrower, Borrower's equity in the Property, or the contents of the Properly, against any
<br />risk, hazard or liability and might provide greater or lesscr coverage than was previously in effcct.
<br />Borrowcr acknowledges that thc cost of the insurance coverage so obtained might significantly excccd
<br />the cost of insurance that Borrowcr could have obtained. Any amounts disbursed by Lender undcr this
<br />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
<br />such interest, upon notice from Lender to Borrower requesting payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to
<br />Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name
<br />Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the
<br />policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all
<br />receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage,
<br />not otherwise required by Lender, for damage 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
<br />payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender.
<br />Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower
<br />otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was
<br />required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair
<br />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 until Lender has had an
<br />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 disbursc proceeds for the
<br />repairs and restoration in a single payment or in a series of progress payments as the work is
<br />completcd. Unless an agreement is made in writing or Applicable Law requires interest to be paid on
<br />such insurancc proceeds, Lender shall not be required to pay Borrower any interest or carnings on such
<br />procceds. Fees for public adjusters, or other third parties, retained by Borrower shall not bc paid out
<br />of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is
<br />not economically feasible or Lender's security would he lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if
<br />any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in
<br />Section 2.
<br />If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance
<br />claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that
<br />the insurance carrier has offered to settle a claim, then Lcnder may negotiate and settle the claim. The
<br />3D-day period will begin when the notice is given. In either event, or if Lender acquires thc Property
<br />under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any
<br />insurance proceeds in an amount not to exceed the amounts unpaid under thc Note or this Security
<br />Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned
<br />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
<br />or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether
<br />or not then due.
<br />6. Occupancy. Borrower shaH occupy, establish, and use the Property as Borrower's principal
<br />residence within 60 days after the execution of thi~ Security Instrument and shall continue to occupy
<br />the Property as Borrower's principal residence [or at least one year after the date of occupancy, unless
<br />Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br />extenuating circumstances exist which are beyond Borrower's control.
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<br />NEBRASKA. Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />Form 3028 1/01 (Page 5 of 11 Pages)
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