201008105 - Laserfiche WebLink

Browse

zoioosio5 Sorrower shall promptly discharge any lien which has prioxity aver this Security Instrument unless Barrower: (a) agrees in writing to the payment of the obligation sccured by the lien in a manner acceptable to Lender, but only sa long as Barrowex is perfarming sucln agreement; (b) contests the lien in good faith by, or defends against enforcement af the lien in, legal praceedings which in Lender's opinion 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 holder of the lien an agteement satisfactory to Lender subordinating tha lien to this Security Instniment. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instturnent, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satiafy the lien ox take one or more of the actions set farth above in this Section 4. Lender may require Borrawer to pay a one-time charge for a real estate tax verification and/ar reporting service us�d by Lender in connection with this Loan. 5. Property Insurance. Sorirower shall keep the impxovements pow existing or hexea8er erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited ta, earthquakes and floods, for which Lender requixes 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 Laan. The insurance camier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge £or flood zone determination, certification and tracking services; or (b) a one-time charge for fload zone deterrnination and certification services and subsequent charges each time retnappings or similar changes occur which reasonably tnlght affect such determination or certifacation. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in conuection with the review of any �aod zone determination resulting &om an objection by Borrower. If Borrower fails to maintain any of the coverages descrlbed above, Lender may obtain insurance coverage, at Lendar's option and Borrower's expense. Lender is under no abligation to purchase any particular type or amouut of coverage. Therefore, snch coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, oc the contents of the Property, against any risk, hazard or liability apd might provide greater ar lesser caverage than was previously in effect. Bozrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cast of insurance that Boxrower could have obtained. Any amounts disbursed by Lender under this Seciion S shall become additional debt of Borrower secured by this Security Inatrument. These amaunts shall bear interest at the Note rate fi the date of disbursement and shall be payable, with such interest, upon notice from Lender ta Borrower requesting payment. All insurance policies required by Lender and renewals of such palicies shall be subject to Lcnder's right to disapprave such policies, g�arr inclucle a standard mortgaga clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall hav� the right to hold the policies and renewal certificates. If Lender requires, Iiorrawer shall promptly give ta Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise requirad by Lender, for damage to, or d�struction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as nr►ortgagee 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 rnake proof of loss if not made promptly by Borrower. Unless Lender and 13ortower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is econannically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds watll Lender has had an opportunity to inspect such Propex to ensure the NEBRASKA- Single Family - FannieMae/Freddie Mac UNIFQRM INSTRUMENT ��-6(NE� (0811) Page 6 of 15 in�c�eis: Form 3D28 1101