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r------ ~n_........... \ 200903637 Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for nood zone determination, certification and tracking services; or (b) a one-time charge for flood zone deternlination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might atTect such determination or certification. Borrower shall also be responsible tor the payment of any fees imposed by the Federal Emergency Management Agency in connection with the revIew of any tlood 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 mi~ht 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 Instnllnent. 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 insurancc policics required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, Shi.ii] include a sta,ndard mortgage c~a~lse, and shall nam~ Lender as mortgage~ illld/or as an addlttonalloss payee. Lender shall have the nght to hold the pohcles andrenewal certifIcates. If Lender reqUIres, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any fonn of insurance coverage, not otherwise required by Lender, tor damage to, or destmction ot: 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 ofloss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof orloss 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 Propelty, 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 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 undeltaken 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 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 ofthe 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 smns secured by this Security Instmment, 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. If Borrower 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 Instmment, 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, insofar as such rights are applicable to the coverage ofthe 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 then due. . 6. Occupancy. Borrow!;;r shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution ofthis 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 Protection ofthe Property; Inspections. 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 in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, I3orrower 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 agent may make reasonable entries upon and inspections ofthe Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. S. Borrower's Loan Application. Borrower shall be in default it: during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with BOf!ower's kn~wledge or c~nsent gaye materially false, misleading, or inaccurate information or statements to Lender (or fatled to prOVIde Lender With matenal information) in connection with the Loan. Material representations include, but are not limited to, representations conceming Borrower's occupancy ofthe Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under ~his Se~urity Instm~lent ~such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a hen whIch may attall1 pnonty over this Security Instmment or to enforce laws orregulations), or (c) Borrower has abandoned the Property, then Lend~r may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Prop~rty and rights u~l~ler tillS Security Instmment, including 'protecting and/or a~se.ssing the valu~ of the Property, and sec~nng apd/or rep~lr!ng the Property. Lender's actions can Illclude, but are not hmlted to: (a) paymg any sums secured by a hen which has pnonty over this Security Instmment; (b) appearin~ in court; and. (c) p~yin~ reasonable a~t.orn~ys' fces to protect its i.nterest III !he Property and/or rights under thIS Secunty Instmment, ll1c!udmg Its secured pO~ltl0nll1 a bankmptcy proceedlllg. Securlllg the Property includes, but is not limited to, entering the Property to make rel?alrs, change locks, rel?l~ce or board up ~??rs and windows, drain water from pipes, eliminate building or ?ther c.ode violations or dangerous conditIons, a!1d have utlhtles turned on or off. Although Lender may take action under thiS Sectton 9, Lender does not have to ~o so and I~ not under al~y duty or obligation to do so. It is agreed that Lender incurs no liability 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 from Lender to Borrowerrequesting payment. . . . If this Security Instmment is on a leasehold, Borrower shall comply with all the proVISions ofthe lease. I~Borr?~er acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger 111 wntlllg. NEBRASKA--Single Family--Fannic Mac/Freddie Mac UNIFORM INSTRtlMENT 9754.CV (1/08) 68n726040 Form 3028 lIOI (page 4 of 8 pages) Creative Thinking, Inc. (J010(OO I f8449) \..