|
<br />200805363
<br />
<br />Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in
<br />connection with this Loan.
<br />
<br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss
<br />by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods,
<br />for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that
<br />Lender requires. What Lender requires pursuant to the preceding sentences can change during the term ofthe Loan. The insurance carrier
<br />providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be
<br />exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone
<br />determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and
<br />subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification.
<br />Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with
<br />the review of any flood zone 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 or amount of coverage. Therefore, such coverage shall
<br />cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk,
<br />hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the
<br />insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed
<br />by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear
<br />interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower
<br />requesting payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies,
<br />shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the
<br />right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums
<br />and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction
<br />of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss
<br />payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof ofloss if not made
<br />promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying
<br />insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically
<br />feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance
<br />proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,
<br />provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single
<br />payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires
<br />interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees
<br />for public adjusters, or other third parties, retained by Borrower shall not be paid out ofthe insurance proceeds and shall be the sole
<br />obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance
<br />proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
<br />Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower
<br />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
<br />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
<br />Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the
<br />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
<br />unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the
<br />coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the
<br />Note or this Security Instrument, whether or not then due.
<br />
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the
<br />execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after
<br />the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating
<br />circumstances exist which are beyond Borrower's control.
<br />
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the
<br />Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower
<br />shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is
<br />determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if
<br />damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the
<br />taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such
<br />purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work
<br />is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of
<br />Borrower's obligation for the completion of such repair or restoration.
<br />
<br />NEBRASKA -Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />Page 4 of 9
<br />
<br />Form 30~ IfJn
<br />Borrower(s) Initials H -BJ1L
<br />
<br />IDS, Inc.
<br />
|