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200709607 Lender may require Borrower to pay, in conncction with this Loan, either: (a) a one-time charge for flood zonc determination, certification and tracking services; or (b) a onc-timc charge tor flood zone determination and certification services and subsequent charges each timc remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also he responsible for the payment of any tees imposed by the Federal Emergency Management Agency in connection with the revIew of any flood zOne determination resultmg from an objection hy Borrower. If Borrower fails to maintain any of thc coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Tberefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed thc cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under thIS Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be paYdble, with such interest, upon notice trom Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of; the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event ofloss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof ofloss ifnot made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the onderlying insurancc was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreernent is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out ofthe insurance proceeds and shall 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 shall be applicd to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related mallers. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of un earned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights arc applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore thc Property or to pay amounts unpaid under the NOIe or this Security Instrument, whether or not then dUe. 6. Occupancy. Borrower shall occupy, establish, and uSe the Property as Borrower's principal residence within 60 days atier the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence tor at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's controL 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy. damage or impair the Properry, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrowcr shall promptly repair the Properry if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible tor repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Ifthe insurance or condemnation proceeds arc not sufficient to repair or restore the Propcrty, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrowcr or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially talse, misleading, or inaccurate information or statements to Lender (or tailed to provide Lender with material intom1atlon) in connection with the Loan. Material represcntations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrowcr's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument, If (a) Borrower fails to perfoIDl the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instnrment (such as a proceeding in bankruptcy, probate. for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property. then Lender may do and pay tor whatever is reasonable or appropriate to protect Lender's interest. in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' tees to protect its imerest m the Property and/or rights under thIS Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make reJ?airs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violattons or dangerous conditions, and have utilities turned on or ofT. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty Or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument. is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge ill1less Lender agrees to the merger in writing. NEBRASKA-Single Family..Fannie MaelFreddie M.. tJN'FORM INSTRtJMKNT 9754.CV (1105) 6~9!l557140 Form 3028 1/01 (page 4 of 8 pa!!.es) Creative Thinkin2. Inc. GOTO(00l6.707)