|
zoioos437
<br />shall pay to Lender the amount necessary to rnake up the deficiency in accordance with RESPA, but in no more than
<br />12 monthly payments.
<br />Upon payment in full of all surns secured by this Security Instrument, Lender sha11 pramptly refund to Borcower
<br />any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to
<br />the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the
<br />Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items
<br />are Escrow Items, Borrower shall pay them in the manner provided in Section 3.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:
<br />(a) agrees in writing to the payment of the obligation secured by the lien in a rnanner acceptable to I.ender, but only
<br />so long as Borrower is perfornung such agreement; (b) contests the lien in good faith by, or defends against
<br />enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien
<br />while those proceedings aze pending, but only until such proceedings are concluded; or (c) secures from the holder
<br />of the lien an agreement satisfactory to I.ender subordinating the lien to this Security Instrument. If Lender
<br />deternunes that any part of the Property is subject to a lien which can attain priority over chis Security Instrument,
<br />Lender may give Borrawer a notice identifying the lien. Within 10 days of the date on which that notice is given,
<br />Borrawer shall satisfy the lien or take one or more of the actions set forth above in this Section 4.
<br />Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service
<br />used by L,ender in connection with this I.,oan.
<br />5. Property Insurance. Borrower shall keep the improvements naw existing or hereafter erected on the
<br />Property insured against loss by fire, hazards included within the term "extended caverage," and any other hazards
<br />including, but not lirnited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be
<br />maintained in the amounts (including deductible levels) and far the periods that L.ender requires. What I,ender
<br />requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing
<br />the insurance shall be chosen by Borrawer subject to Lender's right to disapprove Borrower's choice, which right shall
<br />not be exercised unreasonably, Lender may require Borrower to pay, in connection with this I.oan, either: (a) a one-
<br />time charge for flood zone detertnination, certificatian and tracking services; or (b) a one-time charge for flood zone
<br />deternunation and certification services and subsequent charges each Cime remappings or similar changes occur which
<br />reasonably might affect such deternunation or certification. Borrower shall also be responsible for the payment of
<br />any fees imposed by the Federal Ernergency Management Agency in connectipn with the review of any flood zone
<br />deternunation resulting from an objection by Borrower.
<br />If Borrower fails to rnaintain any of the coverages described above, Lender may obtain insurance coverage, at
<br />Lender's option and Borrower's expense. L,ender is under no obligation to purchase any particular type or amount
<br />of coverage. Therefore, such coverage shall cover T.,ender, but might or might not protect Borrower, Borrower's
<br />equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater
<br />or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so
<br />obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any arnounts disbursed
<br />by Lender under this Section S shall become additional debt of Borrower secured by this Security Instrument. These
<br />amounts shall bear interest at the Note rate frorn the date of disbursement and shall be payable, with such interest,
<br />upon notice from Lender to Borrower requesting payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to J,ender's right to
<br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an
<br />additional loss payee. I..ender shall have the right to hold the policies and renewal certificates. If Lender requires,
<br />Borrower shall promptly give ta Lender all receipts of paid premiums and renewal notices. If Barrower obtains any
<br />form of insurance coverage, nvt atherwise required by Lender, for damage to, ar destruction of, the Property, such
<br />policy shall include a standard rnortgage clause and shall narne L,�nder as mortgagee and/or as an additional loss
<br />payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and L.ender. Lender may make
<br />proof of loss if not made promptly by Borrower. Unless Lender and Borrower othervc+ise agree in writing, any
<br />insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration
<br />or repair of the Property, if the restoratian or repair is economically feasible and Lender's security is not lessened.
<br />During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender
<br />has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,
<br />provided that such inspection shall be undertaken promptly, Lender may disburse proceeds far the repairs and
<br />restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement
<br />is made in writing or Applicable Law requires interest to be paid an such insurance proceeds, Lender shall not be
<br />required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties,
<br />retained by Barrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower.
<br />If the restoration or repair is nat econornically feasible ar Lender's security wauld be lessened, the insurance proceeds
<br />shall be applied to the sums secured by this Security Instrurnent, whether or not then due, with the excess, if any, paid
<br />to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower abandons the Property, I.ender may file, negotiate and settle any available insurance claim and
<br />related matters. If �orrower does not respond within 30 days to a notice from I,ender that the insurance carrier has
<br />offered to settle a claim, then Lender nnay negotiate and settle the claim. The 30-day period will begin when the
<br />notice is given. In either event, or if Lender acquires the Property under Section 22 ar otherwise, Borrower hereby
<br />assigns to L,ender (a) Borrower's rights ta any insurance proceeds in an amount not ta exceed the amounts unpaid
<br />under the Note or this Security Tnstrument, and (b) any other of Borrower's rights (other than the right to any refund
<br />of unearned premiurns paid by Bnrrower) under all insurance policies covering the Property, insofar as such rights
<br />�,
<br />NEBRA5KA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DocMagic � aoo•sas-�3sz
<br />Fprm 3028 1/01 Page 4 of 1 1 www.docmaglc.com
<br />Ne3028.dot.xml
<br />
|