201008400 - Laserfiche WebLink

Browse

24i0U8400 Borrower sha11 prompcly discharge any lien which has priority over this Security Instrurnent unless Borrower: (a) agrees in writing to Cl�e payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as�onrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcemenC of tkie lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the halder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines 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 identi fying the lien. Within 1Q days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actians set forth above in this Section 4. L,ender may require Borrower to pay a ane-tirne charge for a real estate tax verification and/or reporting service uscd by Lender in cannection with this Loan. 5. 1'roperty Insarance. Barrower shall ke�p the improvements now existing or hereafter erected on the Property insured against 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 insnrance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that L,ender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier 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 Barrawer to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zonc determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determinatipn 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 flood zone determination resulting from an. objection by Barrower. If Borrower fails to rnaintain any of the coverages described above, I.ender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or arnount of coverage. Therefore, such coverage sha11 cover Lender, but might ar might not protect Borrower, Bonower'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. Barrower aclrnowledges that the cost of the insurance coverage so obtained might significantly exceed the cost af insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall b�come additional debt of Borrower secured by this Security Instrurnent. These amownts shall bear interest at the Note rate frpm the date of disbursement and shall be payable, with such interest, upon notice from I.ender to Borrower requesting payment. All insurance policies required by I.ender 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 Lender as mortgagee and/or as an additional loss payee. I,ender shall have the right to hold the policies and renewal certi�cates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance caverage, 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 cararier and L.ender. Lender may make proaf of lass if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whsther 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 economically feasible and �,ender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity ta inspect such Property to ensure the NEBRASKA - Single Family - Fannie MaelFreddie Mac UNIFORM INS7RUMEN7 � �-6�NE) 1o8t t1 Page 6 af 15 inici � Form 3028 1/01 �. ; �' 4 r � � � � .