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w'~ ,, ,~,.~~ 201004428
<br />fails to pay the amount due for an Escrow Item, Lendor may exorcise its rights under Section 9 and pay such arnount and
<br />Borrower shall then be obligated under Section 9 to repay to Lendor any such amnunt, Lender may revoke the waiver as to any
<br />ar all Escrow Items at any time by a notice given in accordance with Soctian 15 and, upon such revocation, Borrower shall pay
<br />to bonder all Funds, and in such amounts, that are then required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amnunt (a) sufficient to permit Lender to apply the Funds at the
<br />time specified under RF;SPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall
<br />estimate the amount of Funds due on rho basis of current data and reasonable estimates of expenditures of future Escrow Items
<br />nr otherwise in accordance with Applicable Law.
<br />"I"he Funds shall be held in an institution whose deposits are insured by a federal agency, iastrumeatality, or entity
<br />(including Lender, if Lender is an institution whose deposits are so insured) or in any Federal flame Loan Bank. Lender shall
<br />apply rho Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for
<br />holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrnw atoms, unless L,endcr pays
<br />Harrower interest on the Funds and Applicable Law permits Lendor to make such a charge. [Jnless an agreement is made in
<br />writing or Applicable I,aw requires interest to he paid nn the Funds, Lender shall not be required to pay Borrower any interest
<br />or earnings on the Funds. Borrower and Lendor can agree in writing, however, that interest shall he paid nn the Funds, i.,ender
<br />shall give to Borrower, without charge, an annual accounting of rho Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess
<br />funds in accordance with RESPA. if there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify
<br />Borrowor as required by RESPA, and Borrowor shall pay to Lender the amount necessary to make up the shortage in
<br />accordance with RESPA, but is ao more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as
<br />defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount
<br />necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of all sums secured by this Security instrument, Lcndcr shall promptly refund to Harrower any
<br />Funds held by Lendor.
<br />4. Charges; Liens. Harrower shall pay all taxes, assessments, charges, fines, and unpositions attributable to the
<br />Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, it' any,
<br />and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrnw Items, Harrower
<br />shall pa them in the manner provided in Section 3.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Harrower: (a) agrees
<br />in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; but only so long as Borrower
<br />is performing such agreement; (h) contests the lien in good faith by, or defends against enforcernont of the lien ia, legal
<br />proceedings which in Lender's opinion operate to prevent the enforcement of the Lien while those proceedings are pending, but
<br />only unlit such proceedings are concluded; ar (c) secures from the holder of the lien an agreement satisfactory to Lender
<br />subordinating the lien to this Security instrument. If Lender determines that. any part of rho Property is suh~oct to a Ilan which
<br />can attain priority over this Security Instrument, Lendor may give Harrower a notice identifying the lien. Within 10 days of
<br />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
<br />Section 4.
<br />Lendor may require Harrower to pay a one-time charge for a real estate tax verification and/or reporting service used by
<br />Lender in connection with this Loan.
<br />5. Property Insurance. Borrower shall keep the umprovomonts now existing nr hereafter erected nn the Property
<br />insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not
<br />limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintaiaod in the amaunts
<br />(including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding
<br />sentences can change during rho 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 he exorcised unreasonably. Lender may
<br />require Borrowor to pay, in connection with this bean, either: (a) a one-time charge for flood zone dctcrminatinn, certification
<br />and tracking services; or (b) a one-time charge for flood zone determination and certification services and subseyuent charges
<br />each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower
<br />shall also be responsible far the payment of any fool imposed by the Federal Emergency Management Agency in connection
<br />with the review of any rood Y.one determination resulting from an abjection by Harrower,
<br />If Harrower fails to maintain any of the coverages described above, Leader may obtain insurance coverage, at Lender's
<br />option and Borrower's expense. Lendor is under no obligation to purchase any particular type or amount of coverage,
<br />'t'herefore, such coverage shall cover Lender, but might ar might not protect Harrower, Horrower's equity in the Property, or
<br />the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was
<br />previously in effect. Borrowor acknowledges that the cast of rho insurance coverage so obtained might significantly exceed the
<br />cost of insurance that Harrower could have obtained. Any amounts disbursed by Lender under this Seetian 5 shall become
<br />additional debt of Harrower secured by this Security Instrument. 7"hose amounts shall bear interest at the Note rata from the
<br />date of disbursement and shall ho payable, with such interest, upon notice from Lender to Harrower requesting payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove
<br />such policies, shall include a standard mort~a~o clause, and shall name Lender as mortgagee and/or as an additional Toss payee.
<br />Lender shall have rho right to hold the pol-cles and renewal certificates, If Lender rcqulres, Harrower shall promptly glue to
<br />Lender all receipts of paid premiums and renewal notices. If Borrowor obtains any form of insurance coverage, not otherwise
<br />required by Lendor, for damage to, nr dcslruclion of, the Property, such policy shall include a standard mortgage clause and
<br />shall name Lender as mortgagee and/or as an additional loss payee.
<br />In rho event of loss, Barrower shall give prompt notice to the insurance carrion and Loader, Lander may make proof of
<br />loss if pot made promptly by Borrowor. tlnloss Lendor and Borrowor 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 />Loader shall have rho right to hold such insurance proceeds an[il Lender has had an opportunity to inspect such Property to
<br />enSUte rho work has boon completed to I..onder's satisfaction, provided that such inspection shall ho undertaken prnmptly.
<br />Lender may disburse proceeds for the repairs and restoration in a single payment of in a series of progress payments as rho
<br />work is completed. Unless an agreement is made in writing or Applicable Law reyuires interest to be paid oa 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 />Borrowor. If the restoration nr repair is not economically feasible or Lender's security would he lessened, 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,
<br />paid to Harrower, Such insurance proceeds shall he applied in the order provided for in Section 2,
<br />If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related
<br />matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a
<br />claim, rhea Lendor may negotiate and settle the claim. The 30-day pentad will begin whop rho notice is given, in either event,
<br />or if Lender acquires the Property under Section 22 or othorwiso, Borrowor hereby assigns to Leader (a) Borrower's rights to
<br />any insurance proceeds in an amount oat to exceed the amounts unpaid under the Note nr this Security Instrument, and (h) any
<br />other of Borrower's rights (other than the right to any refund al' unearned premiums paid by Harrower) under all insurance
<br />policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the
<br />insurance proceeds either to repair ar restore the Property or to pay amaunts unpaid under the Note nr this Security Instrument,
<br />whether or not then duo.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days
<br />after rho execution of this Security Instrument and shall continuo to occupy the Property as Horrower's principal residence for
<br />at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be
<br />unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control,
<br />NEBRASKA--Single Family-Fannie Mae/Freddie Mac UNIFt7RM INSTRUMENT For 1/01
<br />bankers Systems, Inc., St, Cloud, MN Form MD-1-NE 8/17/2000 (page 3 of 7 pages)
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