200802371 - Laserfiche WebLink

Browse

200802371 If there is a surplus of Funds hcld in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESP A. If there is a shortage of Funds held in escrow, as defined under RESP A, Lender shall notifY Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a dcficiency of Funds held in escrow, as dcfined under RESP A, Lender shall notify Borrower as requircd by RESP A, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESP A, but in no more than 12 monthly payments. Upon payment in full ofall sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, chargcs, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fecs, and Assessments, if any. To the extent that thcse items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrces in writing to thc payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contcsts the lien in good faith by, or defends against enforcement ofthe lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days ofthe date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth abovc in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requircs insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of thc Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking serviccs; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changcs occur which reasonably might affect such detcrmination or certification. Borrower shall also bc responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an o~iection by Borrower. IfBorrowcr fails to maintain any ofthe 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. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents ofthe Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost ofthe insurance coverage so obtained might significantly exceed the cost ofinsurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrowcr 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. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policics, shall include a standard mortgage clause, and shall name Lcnder as mortgagec 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 of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrowcr. Unless Lender und Borrower othcrwise agr<:e in writing, any insurance proceeds, whether or not the underlying insurance was requircd by Lender, shall be applied to rcstoration or repair of the Property, if thc restoration or repair is economically feasible and Lender's security is not lessened. During such repair and rcstoration 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 thc repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lcnder shall not be required to pay Borrower any interest or earnings on such procceds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out ofthe insurance proceeds and shall bc 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 applied to the sums secured by this Security Instrument, whether or not thcn due, with the excess, ifany, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons thc 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 cither event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hercby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to cxceed 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 unearned premiums paid by Borrower) under all insurance policies covcring the Property, insofar as such rights are applicablc to the covcrage ofthe Propcrty. Lender may use the insurance procceds either to rcpair or restore the Property or to pay amounts unpaid under the Note 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 aftcr the cxccution ofthis Security Instrument 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 agrecs 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 ofthe Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit wastc 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 feasiblc, Borrower shall promptly repair the Property 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 for repairing or restoring the Property only if Lender has rcleased 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 complcted. Ifthe insurance or condemnation proceeds are not suf1icient to repair or restore the Property, 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. Ifit has reasonable cause, Lcnder may inspect thc interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspcction specifying such reasonable cause. NEBRASKA -Single Family~Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Page 3 of 7 Form 3028 1/01 Borrower(s) Initials ~ 1!itL. IDS, Inc. - (600) 554-1672