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<br />200805297
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<br />for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone
<br />determination resulting from an objection by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and
<br />Borrower's expense. Lender is under no obligation to purchase any particular type orarnount of coverage. Therefore, such coverage shall cover
<br />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
<br />liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that. the cost of the insurance
<br />coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender
<br />under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note
<br />rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment.
<br />All insuran,cepolicies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall
<br />include a standard mortgage clause, and. shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the righlto hold
<br />the policies and renewal certificates. If Lender requires, Borrower shall prornptly give to Lender all receipts of paid premiums and renewal notices.
<br />If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy
<br />shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee.
<br />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
<br />promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance
<br />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
<br />security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has
<br />had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall
<br />be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments
<br />as the work is completed. Unless an agreement Is made In writing or Applicable Law requires interest to be paid on such insurance proceeds,
<br />Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained
<br />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
<br />economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security
<br />Instrument, whether or not then due, with the excess, if any, paidlo Borrower. Such insurance proceeds shall be applied in the order provided
<br />for in Section 2.
<br />If Borrower abandons the Property, Lender may file, negotiate and sellle any available insurance claim and related mailers. If Borrower does
<br />not respond within 30 days to a notice from Lender that the insurance carrier has offered to sellle a claim, then Lender may negotiate and sellle
<br />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
<br />otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid
<br />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
<br />by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may
<br />use the insurance proceeds either to repair 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 shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution
<br />of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of
<br />occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances
<br />exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection or the Property; Inspections. Borrower shall not destroy, damage or impair the Property,
<br />allow the Property to deteriorate or commit waste on .the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain
<br />the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
<br />Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged. to avoid further
<br />deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower
<br />shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse
<br />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
<br />condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of
<br />such repair or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the
<br />interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying
<br />such reasonable cause.
<br />8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities
<br />-- "lictirl{:j. at. trie"directioll.. 01. BorrClWeror wrth BorrOWenr1<Trowtedge.. or . consent gave matel1ally faise~. misleading, or inaccurate. Intormation. or
<br />statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are
<br />not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence.
<br />9. Protection or Lender's Interest In the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the
<br />covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest In
<br />the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for
<br />enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the
<br />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
<br />Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions
<br />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;
<br />and (c) paying reasonable allorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured
<br />position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks,
<br />replace. or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have
<br />utilities turned onor off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or
<br />obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9.
<br />Any amounts disbursed by Lender under this Section 9 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 such interest, upon notice from Lender to
<br />Borrower requesting payment.
<br />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
<br />Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums
<br />required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be
<br />available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments
<br />toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the
<br />Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect,
<br />from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall
<br />continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect.
<br />"'Larmer wm ~CJCefir. LiSEl and- retain these paymenl$'as a non-refUndable loss reserve' In lieu of Mortgage ffr.suranee-, -Sooh loss- reserve shall be
<br />non-refundable, notwithstanding the fact that the Loan Is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or
<br />earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the
<br />period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately
<br />designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan
<br />and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the
<br />premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage
<br />Insurance ends in accordance with any wrillen agreement between Borrower and Lender providing for such termination or until termination is
<br />required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the
<br />Loan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties
<br />that share or modify theirrisk, or reduce losses. These agreements are on terms and conditions that are satisfactorylo the mortgageinsurerand
<br />the other party (or partieS) to these agreements. These agreements may require the mortgage insurer to make payments using any source of
<br />funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums); "
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<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />Page 3 of 6
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<br />Form 3028 1/01
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