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200901250 determination or certification. B~mower s~all a!so be responsible for the payment of any fees imposed by the Federal Emergency Management Agency In connectlon WIth the reVIew of any flood zone determination resulting from an objection by Borrower. . . If B.orrower fails to l1'!aintain any of the coyerages dcscrib.ed ~bove, Lender may obtain insurance coverage, at Lender s option and Borrower s expense. Lender IS under ';K' oblIga.tton to purchase any particular type or amount of coverage. Therefore. such coverage shall co,:er Lender. but nught or mIght not protect Borrower, Borrower's equity in the Property, or tl?e con~nts of the Property. against any risk, hazard or liability and might provide 1,>J'eater or lesser coverage than was prevlous~y In effect. Borrower acknow ledges tha t the cos t of the insurance coverage so obtained might sisnmcandy exceed the c~~t of msurance that Borrower could have obtained. Any amounts disbursed by Lender under this Secnon 5 shall become additlonal.debt ofBorrower secured by this Security Instrument. These amounts shall bear inlerest 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 di!;~p'prove such policics, shall include a sll!t1dard mortgage clause. and shall name Lender as mongagce and/or as an additional loss p!lyee. Lender shall ~ve the n~t to ho.1d the policies and renewal certificates. If Lender requires. Borrower shall promptly give to.Lender ~ll receIpts of paId prenuums and renewal n~tices. If Borrower obtains any fonn of insurance coverage. not otherwIse reqUITed by Lender. for damage to, or destTUelton of, the Property, such pOlicy shall include a standard mortgage clause and shall name Lender as mongagee and/or as an additionailoss payee. . In the event ofloss, Borrower shall give prompt notice to the insurance carrier and Lender. knder may make proof ofloss Ifnot made promptly b~ Borrower. Unless.Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or !lot the und~r!}'Ing illSurymce was ~eqwred by Len~r. sha!l b~ applied to restoration or repair of the Property, if the .restoranon or repaIr IS eeon~mllcally feasible !lI1d Lender s secunty I~ not lessened. During such rep~ir and restoration penod, Lender shall have the nght to hold such Insurance proceeds unhlLender has had an oppOnUOlty to inspect such Property to ensure the wo~k has licen completed to Lender's satisfaction, provided that such inspection shall be undenaken promptly. Lender may dIsburse proceeds for the repairs and restoration in a single payment or in a series of progress paymen~ as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such ,Insw:ance proceeds, ~nder s~all not ~e required to pay Borrower any interest or earnings on such proceeds. Fees for pubhc a~Justers, or other third parties. retamed 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 security would be le~sened, the ins~rance 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 in the order provided for in Section 2. If Borrower abandons the Property, Lender may file. negotiate and settle any available insurance claim and related ma~ers. If Borrower does not respond within 30 days to a notice from Lender that tile insurance carrier bas offered to settle a c1anD, 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 Property 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 tile 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 covering the Property. insofur as such rights are applicable to 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 not tllen due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days aftcr the execution 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 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 and Protectiotl ofthe Propertyj-Inspewons. 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 ill value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible. 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 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 restoration. Lender or its a~ent may make reasonable entries upon and inspections of the Property. Ifit has reasonable cause. Lender may inspect the Interior of the imp~ovements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specitying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if. during the Loan application process. Borrower or any persons or entities actin~ at the direction of Borrower or with Borrower's knowledge or consent gave !'18teriall,Y fal~e, mislea!ling. ?r inaccurate mfolT!1ation or stale.men~ to Lender (or fai1~d ~o provide l.ende~ with materyal mformatlOll) In connection With the Loan. Matenal representanons mclude, but are not limIted to, representations concermng Borrower's occupancy of the Property as Borrower's pri ncipal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Sec:urit)' Instrument. If (a) Borrower fails to perfonn the covenants and agreements contained in this Security Inslr!lment, (b) there is a legal proceeding that might significantly affect Lender' s interest in the P~perty and/or rights under ~s Se~unty Ins~nt ~SU7h as a proceeding in bankruptcy, probate, for condemnation or forfeIture, for enforcement of a hen which may attam pnonty over this Seeurity Instrument or to enforce laws or reg~lations), or (c) Borr<;,w.er has a~andoned the Prope~, then Lend~r may do and pay for whatever is reasonable or appropnate to protect Lender s mterest In the Prop~rty and nghts u!l~er thIS Security Instrument, including protecting and/or ~se.ssing the valu~ of the Property, and sec,!nng 3f1d/or rep.all~ng the Property. Lender's actions can include, but are not hnmed to: (a) pa}'lng any sums secured by a hen whic~ ~s pnonty over this Security Instrument. (b) a'ppearin~ in court; and (c) paym~ reasonable attorneys' fees to protect Its Interest m the Property and/or rights un'der this Secunty Instrument, including Its secured po~ition in a bankruptcy proceeding. Securing the Property includes, but is not limited to. enterin~ the Property to make repairs, change locks, rep.l~ce or board up ~~rs and windows. drain water from pipes. eliminate bUIlding or other code violal1ons or dangerous condItions. ~nd have unhnes turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and I~ not under a~y duty or obligation to do so. It is agreed that Lender incurs no liabil ity for not taking any or all actions authonzed under this Section 9. . Any amounts disbursed by Lender un~er this Section 9 shall become additional. debt of Borrower secured by this Security Instrument. These amounts shall bear mterest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice fro~ Lender to Borrower requesting pa}'ll1cnt. . . . If this Security Instrument IS on a leasehold, Borrower shall comply With all the prOVISIOns of the lease. If.BoTr?~er acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger In WIlting. 10, Mongage Insurance, If Lender required Mongagc Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain th~ Mortgage Insurance in e!'fect. If, for any ~eason. the ~ongage Insurance eoverage required by Lender eeases to be available from the mongage I.nsurer that preVIOusly prOVIded such NEBRASKA-Single Family-Fannie l\J.elFreddle Mac UNIFORM INSTRUMENT 12439.CV (11107) 4200244 (MEltS) Form 3028 1101 (p(Jge4of8pages) Crealive Thinking, Inc. GOT(l(OOla6a89) &A