201007950 - Laserfiche WebLink

Browse

20�00�95� Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contesCs the lien in goad faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcen�ent of the lien while thase proceedings are pending, but only until such proceedings are concluded; or (c) secures fram the holder of the lien an agreement satisfactary to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of che Property is subject to a lien which can attain priority over this Security Instrurnent, Lender may give Borrower a natice identifying the lien. Within 10 days of the date an which that notice is given, Borrowear sha11 satisfy the lien or take one or more of the actions set forth above in this Sectian 4. Lender znay require Borrower to pay a ane-time charge for a real estate tax verificatian and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured again.st loss by �re, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier praviding the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unxeasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certi�cation and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes accur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Managernent Agency in connection with the review of any flood zone determination resuJ.ting from an objection by Borrower. If Borrower fails to maintain any of the caverages described above, Lender may abtain insurance coverage, at Lender's option and Bonower's expense. Lender is under no obligation to purchase any particular type pr arnount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, 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 caverage so obtained might signi�cantly 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 Tnstrument. These amounts shall bear interest at the Note rate from the date of disbursernent and shall be payabl�, with such interest, upon notice from I,ender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such palicies, shall include a standard mortgage clause, and shall narne Lender as mortgagee and/or 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, for damage ta, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prornpt notice to tk►e insurance carrier and Lender. L,�nder may make proof of loss if not made prornptly by Borrower. Uz�less I.ender and Borrower otherwise agree in writing, any insurance pracceds, whether or not the underlying insurance was required by Lender, shall be applied to restoration ar repair of the Property, if the restoration or repair is economically feasible azid Lender's security is not lessened. During such repair and restoration periad, Lender shall have the rzght to hold such insurance praceeds until Lender has had an opportunity to inspect such Property to ensure the NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT �-B�NE) �oai�� Pape 8 of 15 Initlals: � Form 3028 7/01 1� � ,y y �'j � �' � �► l� w;,, rX „! ��