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;~ • ,P ~ .,,~ t ,;.~ 201004978 6y fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lander requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires, What Lender requires pursuant tv the prsneding sentences can change during the term of the Loan. The insurance varrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either; (a) a one-time oharga for flood zone determination, certification and travking services; yr Ib) a one-time charge far flood zone determination and certification services and subsequent charges each time remappings pr similar changes occur which reasonably might affect such determination or certification, Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agenvy in cvnnavtion with the review of any flood zone determination rsaulting 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 opt prptsvt Borrower, Borrower's equity in the Property, or the contents pf the Prpperty, 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 might 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 Instrument. These amounts shall bear interest at the Npte rate from the date of disbursement and shall bs payable, with such interest, upon notice from Lender tp Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee andlor as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, far damage tv, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee andlor as an additional loss payee. In the event of loss, Borrower shall give prompt notiv6 tp 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 prpvasds, 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 insurance proceeds until Lender has had an opportunity to inspect suvh Property tv ensure the work has been completed to Lender's satisfavtian, provided that such inspection shall be undertaken 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 tp be paid on such insuranvs praveeds, Lander shall not be required to pay Borrower any interest or earnings on suvh proceeds. Fees for public adjusters, or other third parties, re#aiied 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. Suvh insurance praveeds shall be applied in the order provided for in Sevtivn 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters, If 8prrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, than 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 Ia1 Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Ins#rument, and Ibl any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance ppliciss covering the Property, insofar as such rights ors 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 then due. 6. Qecupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Ins#rum8nt and shall continue to occupy the Prpperty as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which vonsent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's vvntrvl. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate ar commit waste on the Prpperty. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in prdsr tp prevent the Property from deteriorating ar decreasing in value due to its condition. Unless it Is determined pursuant to Section 5 that repair or restore#ian is not economically feasible, Borrower shall promptly repair the Prpperty if damaged to avoid further deterioration or damage, If insurance or condemnation proceeds are paid in connection with damage to, or #hs taking of, the Property, Borrower shall be responsible for repairing or teetering 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 suvh repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the 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 yr prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application prpepss, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge pr vvnsent gave materially false, misleading, or inaccurate infprmativn or statements to Lender for failed to provide Lender with material infprma#ion) in connection with the Loan, Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence, 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (~) Borrower fails to perform the covenants and agreements contained in this Security Instrument, Ib1 there is a legal proceeding that might significantly affect Lender's interest in the Property andlor rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enfgrce laws or regulativnsl, or Icl Borrower has abandoned the Prpperty, then Lender may da and pay for whatever is reasonable or approptiate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value pf the Property, and securing andlor repairing the Property. Lender's actions van include, but are not limited to: lal paying any sums secured by a lien which has priority over this Security Instrument; lbl appearing in court; and (cl paying reasonable attorneys' fees to prpteot its interest in the Property andlor rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing 'the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other node violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not hays to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authprized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall became additional debt of Borrower secu°<~d 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. If this Security Instrument is on a leasehold, Borrower shall vpmply with all the provisions of the lease. If Borrower acquires fee ti#Is to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 90. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Bcrrpwer shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases tv be available from the mortgage insurer that previpusly provided such insurance and Borrower was required'c~ make separately designated payments toward the premiums fpr Mortgage Insurance, Borrower shall pay the premiums required tp rbtain coverage substantially equivalent to the Mortgage Insurance previpusly in effect, at a cost substantially equivalent to the cost ;~~ Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially e~auivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated {~%~yments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as anon-refundable loss reserve in lieu of Mortgage Insurance. Suvh lass reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender van rip longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided thy ~ n insurer selected by Lender NEBRASKA-Single Family-Fannie MaelFreddie Mac UNIFpRM INSTRUMENT Form 302$ 1109 Page 3 of 6 ~~~