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2410U�384
<br />by Lender in connection with this Loan.
<br />A51013759
<br />5. Property Insurance. Borrower shall k�ep the improveinents now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage," and any other h�zards including, but not
<br />limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts
<br />(including deductible levels) and for the periads that Lender requires. What Lander requires pursuant to the preceding
<br />sentences can change durin� the term of the Loan, The insurance carrier providin� the insurance shall be chosen by Borrower
<br />subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require
<br />Borrower to pay, in connection with this Loan, either: (a) a ane-time charge for flood zone deterniination, certification and
<br />tracking s�rvices; or (b) a one-time charge for flood zona detenr�ination and certification services and subsequent charges each
<br />time remappings or similar changes occur which reasonably mi�ht aff�et such determination or certification, Borrower sh�ll
<br />�lso be responsible for the payment of any fees imposed by the P�deral E�nergency Management Agency in connection with
<br />the review of �ny flood zone detennination resulting fro�n an obj�ction by Borrower,
<br />If Borrower fails to maintain any of the coverages d�scribed abov�, Lender may obtain insurance coverage, at
<br />Lender's option and Borrower's expense. Lendar is under no obligation to purchase any particular type or amount of coverage.
<br />T'herefore, such cover�ge shall cover I,ender, but might or might not protect Borrower, Borrower's equity in the Property, or
<br />the cont�nts of the Property, against any risk, hazard or liability and might provide �reater or lesser coverage than 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 dishursed by Lender under this Section 5 shall become
<br />additional debt of $orrower secured by this Security Instrument. Thes� ainounts 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 L�nder's right to
<br />disapprove such policies, shall include a standard rnortgage 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 Lend�r requires, Borrower shall promptly
<br />give to Lender all receipts of paid prei�iiums and renewll notices. If Borrower obtains any form of insurance coverage, nnt
<br />otherwis� required by Lender, for damage co, or destruction of, the Property, such policy shall include a standard mortgage
<br />claus� and shall name Lender as mortgagee and/or as an additional lass 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 Borrower. Unless Lender and �3orrower otherwise agree in writing, any insurance proceeds,
<br />whether or not the underlying insurane� was rec�uired by L�nder, shatl be applied to restaration or repair of the Property, if the
<br />restoration or repair is economically feasible and Lender's security is not lessen�d. During such repair and restoration period,
<br />L,ender shall have the right to hold such insurance proc�eds until Lender has had an opportunity to inspect such Property to
<br />ensure tha 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 paymant or in a series of progress payments as the
<br />work is completed. Unless an agreement is inade in writing or Applic�ble Law requires interest to be paid on such insurance
<br />proc�eds, Lender shall not be r�quired to pay F3orrowar any interest or earnin�;s on such proceeds. Fees for public adjusters, or
<br />other third parties, retained by Borrower shall not be paid out of the insurane� proceeds and shall be the sole obligation of
<br />�3orrawer. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance
<br />proceeds shall be appli�d to the sums secured Uy this Security instrument, whether or not then due, with the excess, if any, paid
<br />to Borrower. Such insurance proceeds shall be applied in the order provid�d for in Section 2.
<br />If Borrower abandons the Property, Lender may file, negotiata and settle 1ny avlilable insurance claim and related
<br />matters. If Borrower does not respond within 30 days to a notice trom Lend�r that the insurance carrier has offered to settle a
<br />claim, then Lender may negotiate and settic the claim. The 30-day period will begin when the notice is given. ln 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 under the Note or this Security Tnstrument, and (b) any
<br />other of Borrower's rights (other than the right to any refund of unearned pre�niums paid by Borrow�r) under alt 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 restore the Property or to pay amounts un�aid under the Note or chis Security Instnunent,
<br />wheth�r or nat then due.
<br />6. Occupancy. Borrower shall occupy, �stablish, and use the Property as Borrower's principal residence within 60
<br />days after the execution of this Security Instrurnent and shall continue to occupy the Property as Borrower's principal residence
<br />for at least one year after the date of occupancy, unless .Lender otherwise a�rees in writing, which consent shall not be
<br />NEBRASKA--Single �amily--Fannie Mae/Freddie Mec C1NIN'QRM INSTRUMENT
<br />� 338.2 Page 5 of 12 Form 3028 1/Ol
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