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<br />200706393
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<br />Loan No: D711711007
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<br />Data!D: 271
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<br />5. I'rnperty Insurance. Borrower shall keep the improvements now eXlstmg or hereafter erected
<br />on the Property insured against loss by fire, hazards included within the term "extelllled coverage," anu
<br />any other hazards including, but not limited to, earthquakes and floods, for which Lender requircs
<br />insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the
<br />periods that Lendcr requires. What Lender requires pursuant to the preceding sentences can change
<br />uuring the term of the Loan. The insurance carrier providing the insurance shall be chosen by
<br />norrower 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 determination and certification services and subsequent charges eueh time
<br />remap pings or similar chunges Occur which reasonably might affect such determination or certification.
<br />Borrower shall also be responsible for the puyment of any fees imposed by the Federal Emergency
<br />Management Agen,,)' in connection with the review of any flood zone determination resulting from un
<br />objection by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, Lender may obtuin insurance
<br />eovcrage, at Lender's option and Borrower's expense. Lender is under no obligution to purchase uny
<br />partieulur 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 Property, ugainst any
<br />risk, hazard or liubility and might proviue greuter or lesser coverage than was previously in effect.
<br />Borrower acknowledges that the cost of the insurance coverage so obtained might significantly cxeeed
<br />the cost of insurance that Borrower could have obtained. Any amounts disburseu by Lender under this
<br />Section 5 shall become additional uebt of Borrower secured by this Security Instrument. These
<br />amounts shall bear interest at the Note rate from the dale 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 />Lenuer as mortgagee and/or as an auuitional 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 anu rcnewal notices. If Borrower obtains any form of insurance coverage,
<br />not otherwise required by Lender, for uamage to, or uestruetion of, the Property, such poky shall
<br />include a standard mortgage clause anu shall name Lender as mortgagee and/or as an additional loss
<br />payee.
<br />I n the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender.
<br />Lcnder may make proof of loss if not made promptly by Borrower. Unless Lendcr and Borrower
<br />otherwise agree in writing, any insurance proceeds, whether or not the unuerlying insurance was
<br />required by Lenuer, shall be applieu to restoration Or repuir 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 holu such insurance proceeus until Lender has had an
<br />opportunity to inSpect such Property to ensure the work has been completed to Lenuer's satisfaction,
<br />provideu that such inspection shall be unuertaken promptly. Lender may disburse proceeds for the
<br />repairs llllU restoration in a single payment or in a series of progress payments as the work is
<br />completeu. Unless an agreement is made in writing or Applicable Law requires intercst to be paid on
<br />such insurance proceeus, Lender shall not be requireu to pllY Borrower any interest or earnings on such
<br />proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out
<br />of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repllir is
<br />not economically feasible Or Lender's security would be lessened, the insurance proceeds shall be
<br />applieu to the sums secureu by this Security Instrument, whether or not then due, with the excess, if
<br />any, paid to Borrower. Such insurllnce proceeus 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 />clllim and rdatcd matters. If Borrower does not respond within 3D duys to a notice from Lender that
<br />the insurance carrier has offered to sellle a cluim, then Lenuer may negotiate and settle the claim. The
<br />30-uay period will begin when the notice is given. In either event, or if Lender acquires the Property
<br />under Section 22 or otherwise, Borrower hereby ussigns to Lender (a) Borrower's rights to any
<br />insurance proeeeus in an amount not to exeeeu the amounts unpaid under the 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) unuer aU insurance policies covering the Property, insofar as such rights
<br />are applicable to the coverage of the Properly. Lender may use the insurance p[()ceeds either to repair
<br />or restore the Property or lo pay amounts unpaid under the Note or this Security Instrument, whether
<br />or not then dUe.
<br />6. Occupancy. Borrower shall occupy, establish, and uSe the Property as Borrower's principal
<br />residence within 60 days after the execution of this Security Instrument and shall continue to occupy
<br />the Property as Borrower's principal residence for 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 arc beyond Bor[()wer'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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<br />P+0070711007+9407+05+1' +NECNVADT
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