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�; c , s;:�;,° 2����g148
<br />for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods
<br />that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance
<br />carrier providing the insurance shall be chosen by 8orrower subject to l.ender's right to disapprove Borrower's choice, which right shall not
<br />be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zpne
<br />determination, certification and tracking services; or (b) a pne-time charge for flood zone determination and certification services and
<br />subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification.
<br />Borrpwer shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with
<br />the review of any flood zone determination rasulting from an objection by Borrower.
<br />If Borrower fails to maintain any pf the coverages described above, Lender may obtain insurance caverage, at Lender's pption and
<br />Borrower's expense. Lender is under no obligation to purchase any particular type or amount of cvverage. Therefore, such coverage shatl
<br />cover Lender, but might or might not protect Borrower, 8orrower's equity in the Property, or the contents of the Property, against any risk,
<br />hazard or liability and might provide greater or lesser cnverage than was previpusly in effect. Borrower acknowledges that the cost of the
<br />insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtainad. Any amounts
<br />disbursed by Lender under this Sectipn 5 shall 6ecome additional debt of Borrower secured by this Security Instrument. These amounts
<br />shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to
<br />Bprrower requesting payment.
<br />All insurance policies required by Lender and renewals pf such poficies shall be subject to Lender's right to disapprove such pplipies,
<br />shall include a standard mortgaga clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the
<br />right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums
<br />and renewal notices. If Borrower obtains any form of insurance coverage, npt otherwise required by Lender, for damage to, vr destructipn
<br />of, the Prpperty, such policy shall include a standard mortgage clause and shall name Lender as mortgegee and/or as an additional loss
<br />payee.
<br />In the event of Ipss, Borrqwer shall give prompt notice to the insurance oarrier and Lender. Lender may make proof of loss if not
<br />made promptly 6y Borrower. Unless l.ender and Borrower otherwise agree in writing, any insurance procaeds, whether or not the
<br />underlying insurance was required by Lender, shall 6e applied to restoration or repair of the Property, if the restoration or repair is
<br />economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold
<br />such insurance proceeds until Lender has had an opportunity to inspeot such Property to ensure the work has been completed to Lender's
<br />satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restqration in a
<br />single payment ar in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law
<br />requires interest tp be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br />proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall
<br />6e the sote obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the
<br />insurance proceeds shall be applied to the sums secured by 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 prder provided for in Section 2.
<br />If Borrower abandons the Property, Lender may file, negotiate and settle any availabls insurance claim and related matters. If
<br />Bprrower does not respond within 3p days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may
<br />negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquiras the Property
<br />under 5ection 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insuranca proceeds in an amount not to
<br />exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any
<br />refund of unearned premiums paid by Borrower► under all insurance policies covering the Property, insofar as such rights are applicable to
<br />the coverage of the Property. Lender may use the insurance proceeds eiiher ta repair or restore the Property or to pay ampunts unpaid
<br />under the Note or this Security Instrument, whether or not then due.
<br />6. Occupancy. Borrqwer shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the
<br />execution of this Security Instrument and shall continue ta accupy the Property as Borrower's principal rasidence for at least one year after
<br />the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating
<br />circumstances exist which are 6eyond Borrower's cpntrol.
<br />7. Preservation, Maintenance and Rwotectlon of the Property; Inapecttons. Borrower shall not destroy, damage ar impair the Property,
<br />allow the Property to detariorate or commit waste on the Prpperty. Whether or not Borrower is residing in the Property, Borrower shall
<br />maintain the Property in order to prevent the Property from deteriorating or decreasing in valua due to its condition. Unless it is determined
<br />pursuant to 5ection 5 that repair or restaration is not economically feasibls, 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 damage to, or the taking of, the
<br />Property, Borrower shell be responsible for repairing vr restoring the Property only if Lender has released proceeds for such purpvses.
<br />Lender may disburse prpceeds for the repairs and restoration in a single payment or in a series of progress paymenta as the work is
<br />completed. If the insurance or condemnation proceeds are not sufficient ta repair or restore the Property, Borrower is not relieved of
<br />Borrower's obligation for the completion of such repair or restoratipn.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect
<br />the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interipr inspection
<br />specifying such reasonable cause.
<br />8. Barrower's Loan Appllcation. Borrqwer shall be in default if, during the Loan application procesa, Borrower or any persons or
<br />entities acting at the direction of Borrower pr with Borrower's knowledge or consent gave materially false, misleading, or inaccurate
<br />informatipn or statements to Lender (vr failed to provide Lender with material information) in connection with the Loan. Material
<br />representations include, but are npt limited to, representationa cpncerning Borrower's occupancy of the Property as Borrower's principal
<br />residence.
<br />9. Protection pf Lender's Interest in tha Property and Rights Under this Sacurity Instrument. If (a) Borrower fails to perform the
<br />covenants and agreements contained in this 5ecurity Instrument, (b) there is a legal proceeding that might significantly affect Lender's
<br />interest in the Property and/or rights under this 5ecurity Ins#rument (such as a proceeding in bankruptcy, probate, for condemnation pr
<br />forfeiture, for enforcement of a lien which may aiCain priority over this Security Instrument or to enforce laws or regulations►, or (c)
<br />6orrower has abandoned the Property, then Lender may do and pay for whatever is reaspnable or appropriate ta prqtect Lender's interest
<br />in the Property and rights under this 5ecurity Instrument, including prptecting and/or assessing the value of the Property, and securing
<br />and/or repairing the Property. Lender's actions can include, but are npt limited to: (a) paying any sums secured by a lien which has priority
<br />over this Security Instrument; (6) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or
<br />rights under this Security Instrument, including its secured position in a bankruptcy proceeding. 5ecuring the Property includes, but is not
<br />limited tp, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate
<br />building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this
<br />Section 9, Lender does not have to do so and is not under eny duty or o6ligation to do so. It is agreed that Lender incurs no liability for not
<br />taking any or all actipns authorized under this Section 9.
<br />Any amounts disbursed by Lender under this Section 9 shall become additional debt pf Borrower secured by this Security Instrument.
<br />These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice
<br />from Lender to Borrower requesting payment.
<br />If ;his Security lnstrumsnt is on a leasehvld, Borrawer shall comply with al: the pravisions of the lease. If Barrowsr acquires fee title
<br />to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
<br />10. Mortgaga Insurance. If Lender required Mprtgage �nsurance as a conditiqn of making the Loan, 8orrower shall pay tha premiums
<br />required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance caverage required 6y Lender ceases to
<br />be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated
<br />payments toward the premiums for Mprtgage Insurance, Borrower shall pay tha premiums required to obtain coverage substantially
<br />equivalent to the Mortgage Insurance previously in effect, at a cost aubstantially equivalent to the cost ta Borrpwer of the Mortgage
<br />Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance
<br />covarage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when
<br />the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lisu
<br />of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimataly paid in full, and
<br />Lender shall not be required to pay Borrower any intarest or earnings on such loss reserve. Lender can no Ipnger require loss reserve
<br />payments if Mortgage Insurance coverage (in the amount and for the period that Lender requiras) provided by an insurer selected by Lender
<br />again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If
<br />NEBRASKA-5ingle Family-Fannie Mae/Freddle Mac UNIFDRM INSTRUMENT Form 3028 1/01
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