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200710087 Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for fluud zone deternlination, certificatiun and tracking services: or (h) a one-time charge for floud zone deternlination and certification services and subsequent charges cach time remappings or similar changes uccur which reasonably might aflect such determinatiun or ecrtification, Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the rcvicw of any flood zone determination resulting from an objection by Borrower, If Borrower fails tu maintain any of the coverages described above, Lender may obtain insurance covcragc, at Lender's optiun and Borrower's cxpense, Lender is under no obligation to purcbase any particular type or amoUllt of coverage, Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrowcr's equity in tbe Property, or the contents ofthe Property, against any risk, hazard or liability and might provide greatcr or lcsser coverage than was previously in etlect Borrower acknowledges that the cost onhe insurancc coverage so obtained millht significantly exceed the cost of IIlsurance that Borrower could havc obtained, Any amounts disbursed by Lender under thIS Section 5 shall become additional debt of Borrower secured by this Sccurity Instrument These amounts shall bear interest at the Note rate trom the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment, All insurance policies required by Lender and renewals uf such pulicies shall be subject \0 Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lcnder as mortgagee and/or as an additional loss payee, Lender shall have the right to huld 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 damagc 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 ufloss, Borrower shall give prompt notice to the insurance carrier and Lender. Lendermaymakeproof ofloss ifnot made promptly by Borrower, Unless Lender and Borrower utherwise ab'tee in writing, any insurance proceeds, whether or not the underlying insurance WaS required by Lender, shall be applied to resturation 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 opporrunity to inspect such Property to ensure the work has been completed tu Lender's satisfaction, providcd that such inspection shall be undertaken promptly, Lender may disburse proceeds for the repairs and restoration in a singlc payment or in a series of progress payments as the work is cumpleted, Unless an agreement 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 of the insurance proceeds and shall be the sole obligation of Borrower, If the restoration or repair is not economically feasible or Lender's sccurity would be lessened, the insurance proceeds shall bc applied to the sums secured by this Security Instrument, whether or not thcn due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the ordcr provided for in Section 2, If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters, 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 Properly 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 lnstnurnent, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable tu the coverage of the Property, Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether Or nut then due, 6. Occupancy. Borrower shall occupy. establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrumcnt and shall continue to occupy the Property as Borrower's principal residence for 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 Ilnd Protection of the Property; Inspections, Borrower shall not destroy, damage or impair the Property, 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 determmed pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avuid further deterioration or damage, If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, thc Property, Borrower shall be responsible for 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, If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower' s obligation for the completion of such repair or restoratiun, Lender or its agent may make reasonable entries upon and inspections onhe Property Ifit 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 he in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan, Material representations include, but arc notlimitcd to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence, 9. Protection of Lender's Intercsr in the Property and Rights Under this Security Instrument, If (a) Borrower fails to perfonn the covenants and agreements contained in this Security Instrument, (h) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probale, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instmment or to enforcc laws or regulations), or (c) Borrower has abanduned the Property, then Lender may do and pay for 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 actiolls can include. but are not limited to: (a) paying any sums sceured bya lien which has priority over this Security Instrument; (b) appearing in court: and (c) paying reasonable attorneys' fees to protect its interest In 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 tu, entering the Property to make rerairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violal1ons or dangerous conditions, and have utilities turned on or off 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 aClions authorized under this Section 9. Anv amounts disbursed by Lender under this Seelion 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 tu Borrower requesting payment (fthis Security Instrument is on a leasehold, Borrower shall comply with all the provisiuns of the lease, If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to thc merger in writing, NEBRASKA--Singlc F.mily~F.nnie M.elFreddic :vI.. UNIFORM INSTRUMENT 1.J754.{:V (I/O:S) 6898555040 form 3028 lIOt (page 4 ol8 pages) Creative Thinking, Inc. GOT(>{()(JI 685ee)