201008399 - Laserfiche WebLink

Browse

�o�oos�99 floods, for which Lender reqaires 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 providing the insnrance shall be chosen by Barrnwer subject to �,ender's right to disapprove Borrower's choice, which right shall nat be exercised unreasonably. I.ender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determinakion, certificatinn and tracking services; or (b) a one-time charge for flood zone determination and cerdfication services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any tlood zone determination resuldng from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is ander no abligation to purchase any particular type or amount of coverage. Therefore, snch coverage shall cover Lender, but might or might not pratect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard ar liability and might provide greater or lesser coverage than was previously in effect. Barrower acknowledges that the cost of the insarance coverage so obtained might significantly exceed the cost of insurance that Borrawer could have obtained. Any amounts disbursed by Lender under this 5ection 5 shall become additional debt of Borrower secured by this Security Instrument. These amaunts shall bear interest at the Note rate from the date of disbursernent and shall be payable, with such interest, upon notice from Lender to Sorrower 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 name I,ender 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 prerninms 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 standard mortgage clause and shall name 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 proof of loss if not made promptly by Borrower. Unless Lender and Bnrrower otherwise agree in writing, any insurance proceeds, whether ar not the underlying insurance was reqaired by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's secarity is not lessened. During such repair and restoration period. Lender shall have the right to hold such insarance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall 6e undertaken prnmptly. Lender rnay disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. llnless an agreement is made in writing or Applicable Law requires interest to be paid on such insnrance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, NE$RASKA � S�ngle Famlly -- Feupi� Map/Freddie Mac IR�IFORM INSTRUMEIrI' Form 3028 /01 ` (3CC- G3028-07 (09/Ol) (Page 7 of 19) Initials: W