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<br />determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal
<br />Emergency Mana�;ement Agettcy in connection wiih the review oFany flood zone determination resulting from an objection
<br />by Borrower.
<br />If Borrower fails to maintain any of the coverages described abave, Lender may obtain insurance coverage, at
<br />Lender's option and E3orrower's expense. Lender is under no obligation ta purchase any particular type or amount of
<br />coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrvwer's equity in tha
<br />Property, or the contents ofthe Property, against any risk, hazard or liability and rnight provide greater or lesser covera�e
<br />than was previously in effect. Borrower acknowledges that the cost ofthe insurance cavera�e so abtained might significantly
<br />exceed the cast of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall
<br />become additional debt of Borrower secured by this Security lnstrument. These amounts shall bear interest at the Note rate
<br />from the date of disbursement and shall be payable, with such interest, upon notice from I.,ender ta Borrower requesting
<br />payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject ta Lender's right ta
<br />disapprove such policies, shall include a standard mortgage clause, and shall name I,ender as mortgagee and/or as an
<br />additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower
<br />shall promptly give to l,ender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance
<br />coverage, not otherwise required by Lender, for damage to, ar destruction of, the Property, such policy shall include a
<br />stattdard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee.
<br />In the event of loss,l3orrower shal l give prompt notice to the insurance carrier and Lender. Lender may make proof
<br />of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds,
<br />whether or not the underlying insurance was required by L,ender, shall be applied to restoration or repair ofthe Property, ifi
<br />the restoration or repair is ecanomically feasible and Lender's security is not lessened. Durin�; such repair and restaration
<br />period, Lender shall have the right to hold such insurance proceeds until L.ettder has had an opportunity to inspect such
<br />Property to ensure the work has been completed to Lender's satisfactian, provided that such inspection shall be undertaken
<br />promptly. I,ender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress
<br />payments as the work is Completed. Unless an agreement is made in writin�; or AppliCable L.aw requires interest tp be paid
<br />on such insurance proceeds, I�,ender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees
<br />for public adjusters, or other third parties, retained by Borrower shall not be paid aut ofthe insurance proceeds and shall be
<br />the sale obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be
<br />lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due,
<br />with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower abandons the Property, L,ender may file, negotiate and settle any available insurance claim and related
<br />matters. If Borrower does not respand 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 periad will begitt when the notice is given. In either
<br />event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's
<br />rights to any insurance praceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument,
<br />and (b) any other of Borrower's rights (other than the right to any refund af unearned premiums paid by Barrower) under all
<br />insurance policies covering the Praperty, insofar as such rights are applicable to the coverage ofthe Aroperty. Lender may
<br />use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note ar this Security
<br />Instrument, whether or not then due.
<br />G. Occupancy. Borrower shall occupy, establish, and use the Property as Bprrpwer's principal residence within
<br />60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal
<br />r,esidence far at least one year after the date
<br />of occupancy, unless Lender atherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br />extenuatin� circumstances exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Praperty; Inspectians. Borrower shall not destroy,
<br />damage or impair the Property, allow the Aroperty to deteriorate or commit waste
<br />on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Aroperty in order to
<br />prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
<br />Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to
<br />avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with dama�e to, or the
<br />taking of, the Property, Borrower shall be responsible for repairin�; ar restoring the Property only if Lender has released
<br />proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series
<br />of pra�ress payments as the work is completed. Ifthe insurance or condemnation proceeds are not sufficient to repair or
<br />restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restorativn.
<br />Lender or its agent may make reasonable entries upon and inspections ofthe Property. If it has reasonable cause,
<br />Lender may inspect the interiar of the improvements on the Property. Lender shall give Borrower notice at the time of or
<br />prior to such an interior inspection specifying such reasonable cause.
<br />8. Barrower's Laan Application. Borrower shall be in default if, during the Loan application process,
<br />Borrower or any persons or entities acting at the direction of Borrower or with Barrower's knawledge or consent gave
<br />materially false, misleading, or inaccurate mformation or statements to I.ender (or failed to provide Lender with material
<br />information) in connection w�th the Laan. Material representations include, but arc not limited tp, representations concerning
<br />Borrower's occupancy ofthe Property as Borrower's principal residence.
<br />9. Protectian of Lender's Interest in the Property and R�ghts Under this Security Instrument. If
<br />(a) Borrower fails to perform thc covenants and agreements contained in this Security Instrument, (b) there is a legal
<br />proceeding that might significantly afFect I�ender's interest in the Property and/or rights under this Security Instrumant (such
<br />as a praceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority
<br />aver this Securrty Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender
<br />may do and pay fdr whatever is reasonable or appropriate to protect Gender's interest in the Property and rights under this
<br />Security Instrument, including protecting and/or assessing the value of the 1'roperty, and securing and/or repairing the
<br />Aroperty. Lender's actions can mclude, but are not limited to: (a) payin�; any sums secured by a lien which has priority over
<br />this Security Instrument; (h) appearing in court; and (c) paying reasonable attorneys' fces to pratect its interest in the
<br />Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing
<br />the Property includes, but is not limited to, etttering the Aroperty to make repairs, change locks, replace or baard up doors
<br />and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities
<br />turned on or off. Although i,ender may take action under this Section 9, Lender does not have to do so and is not under any
<br />duty ar obligation to do so. It is agreed that L,ender incurs no liability for not taking any or all actions authorized under this
<br />Section 9.
<br />Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this
<br />Security Instrument. These amaunts shall bear interest at the Note rate from the date of disbursement and shall be payable,
<br />with such interest, upon notice from I,ender to Borrower requesting payment.
<br />Ifthis Security Instrument is on a leasehold, Borrower shall comply with all the provisions ofthe lease. IfBorrower
<br />acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writittg.
<br />10. Mortgage Insurance. If Lender required Mortgage lnsurance as a condition of making the Loan,
<br />Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage
<br />Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such
<br />NEBRASKA--$ingle Family--Fannie Mae/Freddie Mac UNIFpRM INSTRUMENT (MERS)
<br />12439.CV (U08) 9U4495
<br />Fprm 3028 1/Ol (puge 4 of8puges)
<br />Creative Thinking, Tnc.
<br />GOTO(0012edf1)
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