200901255 - Laserfiche WebLink

Browse

200901255 either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such detennina:tion or certification. Borrower sball also be responsible for the payment of any fees imposed by the Federal Emezgency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. rfBorrower 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. Bcmower acknowledges 1bat the cost of the inswaoce coverage so obtained might significantly exceed the cost of insunmce that Borrower. could have obtained. Any amounts disbursed by Lender under this Section 5 sha1l 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 ofsucb policies shall be subject to Lender's right to disapprove such policies, shall include a standard mongage 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, Bon-ower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any fann of insurance coverage, nOt otherwise required by Lender, for damage to, or destJ:uctioo o~ 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 repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insW1mCe 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 repain 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, Lender shall not be required to pay. Borrower" any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained 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 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 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 matters. rfBorrower 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 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 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 irisurance policies covering the Property, insofar 8$ 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 Instruinent, whether or not then due. 6. Oceupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Ins1rwnent and shall continue to occupy the Property as BOJIOwer's principal residence for at least one y.ear after the. date of occupancy, unless Lender otherwise agrees:~. i L-' Nebnska Deed ofTnlst-&ngle Family-FallJlle MllllfFteddie MIle UDiform Ill$CrUltDt FOI1ll 3028 lit 1 MER.S Modified" . The Colopllaaft Solltee, IDe. Page 6 of 14 Modified by CompliaBce So.ree 14301NE 08IfJ0 Rev. 04108 __.........pliu~lIree.eot11 C208I. TIae Compliaace Source, lac. I 111111 I III 111111111 1111 11111 11m 11111111111_ 111111111111111111111111111111111111"11111111111111111111111111 * + 0 2 3 4 9 0 9 3 6 4 + 0 0 A D + 6 + 1 4 *