|
2oioo5570
<br />Borrower shall promptly discharge any lien which has priority over this Security Ittstru,ttcnt unless
<br />Borrower: (a) agrees in writing to the payment of the obligation secured by tt,e liar in a rnarn,er acceptable
<br />lu Lcndcr, but utily so long as Borrower is performing such agreement; (b) contests the lien in good faith
<br />by, or defends against cnforce,r,ent of the lieu in, legal pn,cecdings which in Lcndcr's opinion operate to
<br />prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings
<br />arc concluded; nr (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating
<br />the lien to this Security Instrument. If Lender determines that arty part of the Property is subject to a lien
<br />which can attain priority over this Security Instrument, Lender nosy give Borrower a notice identifying the
<br />lien. Within 10 days of the date on which shat notice is given, Borrower shall satisfy the lien or take arc or
<br />snore of the actions set forth above in this Section 4.
<br />Lender tray require Borrower to pay none-time charge for a real estate Ltx verification and/or
<br />reporting service used by Lender in connection with this Loan.
<br />5. Property Insurance. Borrower shall keep the improvements now existing or I,crcal'tcr erected un
<br />the Property insured against loss by fire, hazards included within the term "extended e;overage," and any
<br />other hazards including, but not limited to, earthquakes and floods, fur which I,cuder requires insurance.
<br />'17ris insurance shall be maintained in the amounts (including deductible levels) and for ttte periods that
<br />Lender requires. What Leader requires pursmtnl to the preceding sentences can change during the sera, of
<br />the Loan. The insurance carrier providing the insurance shall he chosen by Borrower subject to Lender's
<br />right to disapprove Borrower's choice, which right shall not be exercised unreasonably. T~cuder may
<br />require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone
<br />determination, certification and tracking services; or (h) a uuc-lirnc charge fur 11oud u,r,c delertninalion
<br />and certification services and subsequent charges each time remappings or similar changes occur which
<br />reasonably might affect such determination or certification. Borrower shall also be responsible for the
<br />payment of any fees unposed by the Federal Erncrgency Management Agency in connection with the
<br />review of any t]ood zone determination resulting from an objection by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, Lender stay obtain insurance
<br />coverage, at Lender's option and Borrower's expense. I.,ender is under nu uhligal.ion to purchase any
<br />particular type or amount of coverage. 'Therefore, such coverage shall cover Lcndcr, but rnigl'tl or might.
<br />not protect Burrower, Borrower's equity in the Properly, or the contents of the ['roperty, against a,ry risk,
<br />hazard or liability ar'rd tnigl'ti provide greater or lesser coverage than was previously in effect. 1orrower
<br />acknowledges shat the cost of the insurance coverage so obtained might signifie,u,tly exceed the a~sl oC
<br />insurance Thal Borrowear could have obtained. Any amounts disbursed by Lender under this Section 5 shall
<br />become additional debt of Borrower secured by this Security itrstru,nent. Ttrese amounts shall bear interest
<br />al tttc Nolc rate front fist date of disbursement and shall be payable, with such interest, upon notice from
<br />Lender to Borrower requesting payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lerrdor'ti
<br />right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as
<br />mortgagee and/or as an additional loss payee. Lender shall have the right to hold lhu policies anti renewal
<br />certificates. If Lcndcr rcquires, Borrower shall promptly give to Lender all receipts of paid prcmiunts ar,d
<br />renewal notices. If Borrower obtains any form oi' insurance eaverugc, not otherwise raluirccl by Leruier,
<br />for damage lo, or destruction of, the Properly, such policy shall include a standard rr,ortgage clause and
<br />shall name Lcndcr as mortgagee and/or as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lcndur. Lcndcr
<br />may make proof of loss if not ,Wade promptly by Borrower. Llnless Lender and Borrower otherwise agree
<br />in writing, any insurance proceeds, whether or not the underlying insurance was required by Leander, shall
<br />be applied to restoration or repair of the Prapcrly, if the restoration or repair is economically feasible and
<br />Lender's security is not lessened, During such repair and rusWralion period, Lcndcr shall have Lhe right to
<br />hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the
<br />NEBRASKA -Single Family -Fannie Mae(Freddie Mac UNIFORM INSTRUMENT J~Iw•u'"
<br />-81NE) Boa,, i Pege 6 of 1 5 i~~,~~ie:~W(~-~ Farm 3028 1 /01
<br />
|