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~ , RE.RECORDED 200 8 n.il~~""l.;''ll'21:~j~i-.-j;; 200809623 \t. ,,~tt ,I (, t' {. fails to pay the amount d~e for an Escrow. Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obhgated under SectIOn 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. , L~n?er may, at any time, collect and hold Funds in an. amount (a) sufficient to permit Lender to apply the Funds at the tI~e specIfIed under RESPA, and (b) not to. ex~eed the maXImum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the baSIS of current data and reasonable estimates of expendinlres of future Escrow Items or otherwise in accordance with Applicable Law. . . The Funds ~~all be h71d i~ a~ in,stitution whose ?eposits are insured by a federal agency, instrumentality, or entity (mdudmg Lender, If Lender IS an mstltutlOn whose deposIts are so insured) or in any Federal Home Loan Bank. Lender shall appl~ the Funds t~ pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holdmg an,d applymg the Funds, annuall~ analyzing the e~crow account, or verifying the Escrow Hems, unless Lender pays Bo~~ower mtere~t on the Funds. and. Apphcable La~ permIts Lender to make such a charge., Unless an agreement is made in wntmg. or Apphcable Law reqlllres mterest to be paId on the Funds, Lender shall not be reqlllred to pay Borrower any interest or ear~mgs on the Funds: Borrower and Lender can agr~e in writing, however, that interest shall be paid on the Funds. Lender shall gIve to Borrower, WIthout charge, an annua] accountmg of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESP A, Lender shall account to Borrower for the excess funds in accordanc.e with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as reqlllred 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 deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, 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 of all sums secured by this Security Instrument, Lender shall grQffiptIy ref!lnd_JoBOl:rmv~r any Funds held by Lender. ' . ..._u ---- - - - - 4. Charges; Uens. Borrower shall pay all taxes, assessments, charges, 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, Fees, and Assessments, if any, To the extent that these 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) agrees in writing to the 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) contests the lien in good faith by, or defends against enforcement of the 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 of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above 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. S. 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 t1oods, for which Lender requires insurance. This insurance shall be maintained in the amounts (induding deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the 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 services; or (b) a (lOe-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Managemem Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the 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 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 the 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 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 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 of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or rep~ir of the Property, if. the restoration or repair is economically feasible and Lender's security is not lessened. During such repau 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 agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceed~, Lend~r shaH ~ot be requir~d to pax__Bg.~row~r ~ny _!l!.t~~esto.~ e.~rnil'l~s_oIl_s~lc~pr~ceeds. Fees for public ad_iust~rs, or other thud partIes, retalOed by Borrower sliall not fie palcT ouf orfhe-lrisurance proceed's and shall be the sole obhgatlOn of' Borrower. If the restoration or repair is not economicaHy 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 then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied i~ the order. provided for in Section?-.. . If Borrower abandons the Property, Lender may fIle, negotiate and settle any. avaIlable lOs~rance cla.lm and related matters. If Borrower does not respond within 30 days to a notice from Lender that the lOsurance carner 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 eithe~ event, or if Lender acquires the Property under Section 22 or otherwise, Borrower herehy assigns YJ Lend~r (a) Borrower's rIghts to any insurance proceeds in an amount not to exceed the amounts unpaid under the ~otc or ~hlS Secunty Instrument, an? (b) any other of Borrower's rights (other than the right to any refund of unearned premmms paId by Borrower) under all lOsurance policies covering the Property, insofar as such rights are applicable to the co~erage of the Property: Lende~ may use the lOsurance proceeds either to repair or restore the Property or to pay amounts unpaId under the Note or thIS Secunty Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal resi~en~e withi~ 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's prmclpal 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 arc beyond Borrower's control. .f 1 ;" NEBRASKA~Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1101 Bankers Syslems, Inc., St. Cloud, MN Form MD-l-NE 8/17/2000 (page 3 (!f 7 page..)