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201408583 floods, for which Lender requires 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 L,oan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrowex's choice, which right shall not be exercised unreasonably. L.ender rnay require Borrower to pay, in cannection with this Loan, either: (a) a one-time charge far flood zone determination, certificatian and tracking services; or (b) a one-tirne charge for flood zone determination and certification services and subsequent charges each tirne remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be respansible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zane determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's optian and Borrower's expense. L.ender is under no obligation to purchase any particular type or amount af coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard ox liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any arnounts disbursed by Lender under this Section 5 shall became additianal debt of Borrower secured by this Security Instrument. These amounts shall beax interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice frorn Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, sha11 include a standard mortgage clause, and shall name I,ender as mortgagee and/or as an additional loss payee. Lender sha11 have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to T.ender all receipts of paid premiums 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 I,ender as mortgagee and/or as an additional loss payee. In the event of loss, Borrowex shall give prompt notice to the insurance caxrier and Lender. Lender may make proof of loss if not made prornptly by Borrower. Unless I.ender and Borrower atherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by L.ender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and L,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 to inspect such Property to ensure the work has been connpleted to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance praceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, �i$�rSY{�l -- Single Family -- Fannie MaelFreddie Mac UNIFORM IN5TRi7MENT Form 3028 1l0� ,� � GCC- G302$-07 (09/01) (Page 7 of 19) Initials: `-'t!