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201000405 <br />450921991 <br />Lender may roquire Borrower to pay aono-time charge for a real estate tax verification and/or reporting service used <br />by Lender in connection with this Loan. <br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property <br />insured against loss by fire, hazards included within the teen "extended coverage," and any other hazards including, but not <br />litnited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the atnounts <br />(including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding <br />sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower <br />subject to Lender's right to disapprove Borrower's choice, which right shall not be exorcised unreasonably. Lender may require <br />Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and <br />tracking services; or (b) a one-time charge for flood zone determination and certification servicos and subsequent charges each <br />limo remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall <br />also be responsible for the payment of any fees imposed by the Federal 1/mergency Management Agency in connection with <br />the reviow 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 <br />Lender's option and Borrowor's oxponse. Londer is undor no obligation to purchase any particular type or amount of coverage. <br />Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrowor's equity in the Property, or <br />the contents of the Property, against any risk, hazard or liability and might provide greater or lossor covorago than was <br />previously in effect, Borrower acknowledges that the cast of the insurance coverage so obtained might significantly oxcoed the <br />cost of insurance that Borrower could have obtained, Any amounts disbursed by Lender under this Soction 5 shall bocome <br />additional debt of Borrower secured by this Security lnstnunent. These amounts shall bear interest at the Nato rato from tho <br />date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrowor requesting payment. <br />All insurance policies required by Lender and renewals of such policies shall be subjoct to London's right to <br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional <br />loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly <br />give to Londer all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not <br />otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage <br />clause and shall name Lender as mortgagee andbr as an additional loss payee. <br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. London Wray tmako proof of <br />loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, <br />whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the <br />restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, <br />Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to <br />ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly, <br />London may disburse procoods for the repairs and restoration in a single payment or in a series of progress payments as the <br />work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance <br />proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or <br />other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of <br />Borrower. If the restoration or repair is not economically feasiblo or London's security would bo lossoned, 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 <br />to Borrower. Such insurance proceeds shall bo applied in the order provided for in Section 2, <br />If Borrower abandons the Property, Londer may file, negotiate and settle any available insurance claim and related <br />matters. If Borrower door not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a <br />claim, then Lender may negotiate and settle the claim. T"he 30-day period will begin when the notice is given, In either event, <br />or if Lender acquires the Property under Soction 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to <br />any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security lnstnunent, and (b) any <br />other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance <br />policies covering the Property, insofar as such rights aro applicable to the coverage of the Property. Lender may use the <br />insurance proceeds either to repair or restore the Proporty or to pay amounts unpaid under the Note or this Security Instrument, <br />whether or not then due. <br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 <br />days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence <br />Nt~~RRASKA--Single Family-Fannie MaelFreddie Mac UNIFORM 1NS'fRUMNJN'I' <br />338.2 Page 5 of 12 <br />~~/3 <br />~~ <br />Form 3028 1/Ot <br />