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2O10O633i
<br />fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and
<br />Borrower shall then be obligated under Section 9 to repay to bender any such amount. Lender may revoke the waiver as to any
<br />or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay
<br />to Lender all Funds, and in such amounts, that are then required under this Section 3.
<br />Lender may, at any time, collect and hold Fuads in an amount (a) sufficient to permit Lender to apply the Funds at the
<br />time specified uader RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall
<br />estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items
<br />or otherwise is accordaace with Applicable LaW.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumetuality, or entity
<br />(including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall
<br />apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Harrower for
<br />holding and applying the Funds, aanually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays
<br />Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Ualess an agreement is made in
<br />Writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest
<br />or earnings an the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA.
<br />If there is a sur~ilus 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, Leader shall notify
<br />Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in
<br />accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as
<br />defiaed under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender [he 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, Lender shall promptly refund to Borrower any
<br />Funds held by Leader.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the
<br />Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any,
<br />and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower
<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 oaly so Lang as Borrower
<br />is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the hen in, legal
<br />proceedings which in Lender's opinion operate to revert the enforcement of the lien while those proceediiips are pending, but
<br />only until such proceedings are concluded; or (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 the Properly is subject to a lien which
<br />can attain priority over this Security Instrument, Lender may give Borrower a nonce 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 />Lander may require Borrower to pay aone-time charge for a real estate tax verification and/or reporting service used by
<br />Lender in connection with this Laan.
<br />5. Property Insurance. Borrower shall keep the improvements raw existing or hereafter erected on 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, far which Lender requires insurance. This insurance shall be maintained in the amounts
<br />(including deductible levels) and for the periods that Lender requires. What Leader 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 $orrower
<br />subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may
<br />require Harrower to pay, in connection with this Loaa, either: (a) a one-time charge for flood zone determination, certification
<br />aad tracking services; or (b) a overtime _charge_fot f1DQd zone determination and. certification .services and subsequent charges
<br />each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower
<br />shall also, be responsible for the paymeat of any fees imposed by the Federal Emergency Management Agency in connection
<br />with the review of any flood zone determination resulting from an objection by Horrower.
<br />If Borrower fails to maintain any of Che coverages described above, Lender may obtain insurance coverage, at Lender's
<br />option and Borrower's expense. Lender is under 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, Borrower'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 thou was
<br />previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the
<br />cost of insurance that Borrower could have obtained, Any amounts disbursed by Lender under this Section 5 shall become
<br />additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the
<br />date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower 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 mortgage clause, and shall dame header as mortgagee and/or as an additional loss payee.
<br />Leader shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to
<br />Lender all receipts of paid premiums and renewal notices. If Harrower obtains any form of insuraace coverage, not otherwise
<br />required by Lender, for damage to, or destruction 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 the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of
<br />loss if not made promptly by Horrower. 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 />Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as [he
<br />work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid an such insuraace
<br />proceeds, Lender shall not be re aired 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 insuraace proceeds and shall be the sole obligation of
<br />Horrower. If the restoration or repairrs not economically feasible or Lender's security would be lessened, the insurance
<br />proceeds shall be applied to the sums secured by this Security Instrument, whether ar not then due, with the excess, if any,
<br />paid to Horrower. Such insuraace proceeds shall be applied iu 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, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is iven. In either event,
<br />or if Lender acquires the Property under Section 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 uader [he Note ar this Security Iastrurnent, 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 are applicable to the coverage of the Property: Lender may use the
<br />insurance proceeds either to repair or restate the Property or to pay amounts unpaid under the Note or this Security Instrument,
<br />whether or rat then due.
<br />6. Occupancy. $orrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days
<br />after Che execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for
<br />a[ 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 UNIFORM INSTRUMENT Form 302 7/p~
<br />8ankera Systems, Inc., St. Cloud, MN Form MD•1•NE 8/17/2000 (Page 3 of 7pages)
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