201008041 - Laserfiche WebLink

Browse

2010U8041 Borrower shall promptly discharge any lien which has priority over this Security Instrument unl.ess Barrawer; (a) agrees in writing to the payament of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in I.ender's apinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such praceedings are concluded; or (c) secures from the halder af the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender deternunes that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or rnore of the actions set forth above in this Sectian 4. Lender rnay require Borrower to pay a one-time charge for a real estate tax verification 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 against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, ea,rthquakes and floods, for which L.ender requirss insurance. This insurance shall be maintained in thc amounts (including deductible levcls) and for the periods that Lender requires. What I.ender requires pursuant to the preceding sentences can change dnring the term of the Loan. '�he insurance carrier providing the insurance sha11 be chosen by Borrower subject to J.ender's right ta disapprov� Borrower's choice, which right shall not be exercised unreasonably, I.ender may require BOiIOWBI t0 pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certi�cation and tracking services; or (b) a ane-time charge for flood zane determination and certification services and subsequent charges each time remappings or similaz� changes occur which reaspnably might affect such determination or certi�'ication. Borrower shal.l also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower faals to nnaintain any of the coverages desc�bed above, I,e;nder may obtain insurance coverage, ac Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage sha11 cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, ox the contents o� 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 coverage so obtained might signi�cantly exceed che cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Barrower secured by this Security Instrument. These amounts shall bear interest at the Note rat� from the date of disbursement and shall be payable, with such interest, upon notice from I.ender to Borrower requesting paymenc. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name I.ender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certi�cates. If Lender requires, Borrower shall pro�nptly give to I.,ender all xeceipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a sCandard mortgage clause and shall narne Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make praof of loss if not made promptly by Borrower. Unless I.ender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, sha11 be applied to rescoration or repair of the Property, if the restoration or repair is economically feasible and Leuder's security is not lessened. During such repair and restoration period, Lender sha11 have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property ta ensure the N�BRASKA - Single Family - Fannie MaelFreddie Mac UNIFORM INSTRUMENT �-8(NE) (oat t 1 Page 8 of 16 ininais: Form 3028 9/09 � 0� �' '' � `s i� �! 4� ! � � <� > �