201008633 - Laserfiche WebLink

Browse

2oiooss33 Borrower shall pramptly disc�arge any lien which has priority ovet this Security Instrument unless Boxxower: (a) agrees in vvriting to the payment of the obligation se�ured by the lien in a rnanner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enfarcement of the lien in, legal praccedings which in Lender' s opinion operate to prevent the enfarcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder 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 aitain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on wbich that notice is given, Horrower shall satisfy tha lien or takc one or more of the actions set forth abave in this Sectian 4. Lender may require Horcower to pay a one-time charge for a real estate tax veri�ication and/or reporting service used lay Lender in connection with this Loan. S. Property �nsurance. Borrower shall keep the ixnprovercaents now existing or hereaifier erected on the Prop�rty insuxed against loss by fire, hazards included within the term "extended caverage," and a�ay other hazards including, but not li�na,ited to, earthquakes and floods, far which Lender requires insurance. This insurance shall be rnaintained in the amounts (including deductible levels) and for the periods that Lende�r reqwires. What Lender requires pursuant to the prec�ding sentences can change during the term of the Loan. The insurance carrier praviding the insurance shall be chosen by Borrower subject to Lender's right to disapprove Sorrower's choice, which right shall not be exercised unreasonably. Lender may require Sorrower to pay, in conn0crion with this Loan, either: (a) a oner-time charge for flaod zone detenmination, certification and tracldng services; or (b) a ona-time charge for flood zone deternrination and certificarion services and subsequent charges each time rernappings or sirnilar changes occur which reasonably might affe�ct such deterrx�ination oc certificarion. Borrower shall also be respansible for the payinent of any fces imposed by the Federal Emergency Management Agency in connection with the review of any flood xone determination resulting from an objection by Horrower. If Borrawer fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender' s option and Borrower' s expense. Lender is under no obligation to purchase any particular type or amount of covexage. Tlaerefore, such coverage shall cover Lender, but might or might nat protect Borrower, Borrower' s equity in the Property, or the ctintents of the Properiy, against any risk, hazard or liability and maght provide greater ox lesser caverage than was previously in effect. Borrower aclrnowledges that the cost af the insurance coverage so obtained rnight significantly excced the cost of insurance that Borrower could have obtained Any amounts disbursed by Lender under this Sectian 5 shall become additional debt af Borrower secured by this Security �aastrument. These �nounts shall bear in�est at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice &om Lender to Sorrower requesting payixient. All insurance policics required by Lender and renewals of such policies shall be subject to Lender's right ta disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the rigt�t to hold the policies and renewal certificates. If Lender requires, Borrower sha11 promptly give ta Lender all receipts of paid premiums and renewal notices. If Borrower obtaans any form af insurance coverage, not otherwise required by Lender, for daxnaga to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an addirional loss payee. In the event of lass, Borrower shall give prompt notice to the insuarance carri�r and Lender. I,ender ma.y make proof o.f loss if not xar�ade prornptly by Borrower. Unless Lender and Borruwer othervvise agree in writing, any ixasuraance proceeds, whether 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 ecunomically feasible and Lender' s security is not lessenecl. 'Yg auch repair and restoration period, Lender shall have the right to hold such insurance prace.�ds until Lender has had an opportunity to inspect such Property to ensure the 2200070924 D V6ANE NEBRASKA - Singla Family - Fannie Mae/Freddie Mac UNIFpRM INSTRUMENT WITH MERS �-BA(NE� �aa� oi Paae B af 15 i„��,i, �� Form 9028 1I07 �