|
� � 2oioos954
<br />fails to pay t.l�e amount due for an Escrow Item, Lender may exercise rls rights under Section 9 and pay such amount and
<br />Borrower shall then be obligated under Sectinn 9 to repay to Leuder any such amount. Lender may revoke the waiver as to any
<br />or all Escrow iterns at any tune by a notice given in accordauce with Section 15 and, upon such revncation, Borrower shall pay
<br />to Lender a11 Funds, and in such aanounts, that are then required under this Sectron 3.
<br />Lender may, at any time, collect and hold Funds in au amount (a) sufficient to permit Lender to apply the Funds at the
<br />time spccified under R�SPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall
<br />estimate the �unount of Funds due on the basis of current data and reasonable estimates of expeuditures of future Escrow Items
<br />or otherwise in accordance with Applicable Law.
<br />The Fnnds shall be held rn an institution whose deposits are iusured by a federal a�ency, instrumentalily, or entity
<br />(including Lendcr, if Lender is an institution whose deposits are so ipsured) or in any Federal Home Loan 13ank. Lender shall
<br />apply the Funds to pay the Escrow Items no later than the time specificd under RESPA. Lender shall not charge Borrower for
<br />holding and applying the Funds, annually analyzing the escrow account, or verifying the Fscrow Items, upletis Lender pays
<br />Borrower interest on the Fnnds and Applicable Law permits Lender to make such a charge. Unless an agreement is mxde in
<br />writin� or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any incerest
<br />or earnings c�n the Nunds. Barrowee and Lender can agree in writing, however, that interest shall be paid ou the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA.
<br />lf there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall accout�t to $orrower for tkte excess
<br />funds in accordance with ItESPA. If there is a shortage ot Punds held in escrow, as defined under RESPA, Lender shall no[ify
<br />Borrower as required by RESPA, and Borrower shall pay to Lender the a[nount necessary to rnake up the shortage in
<br />accordance with W:SPA, but in no more th�►n 12 montqly payments. If there is a deficiency of Funds held in escrow, as
<br />defined under R�SPA, Len�ler shall notify Borr.ower as requiied hy RF.,SPA, aad Bocrower shall pay to T.,ender the �unount
<br />necessary to make up the deficiency iu accardance with RESPA, but iu uo rnore than 12 mouthly payments.
<br />Upon payment. in full of a1l sums secured by this Security Instrument, Lender shall promptly refund to Borrnwer any
<br />Funds held by Lender.
<br />4. Charges; Liens. Borrower sqall pay all taxes, assessments, cpar�es, fines, and impositions attributable lo the
<br />ProperCy which can actain priority over this Security Instrument, leasehold paymeuts or ground rents op the Property, if any,
<br />and Cnmmunity Association Dues, Fees, and Assessments, if any. To the extent that thesc items are Escrow Items, Borrowcr
<br />shall pay them in the manner provided in �ectinn 3.
<br />13orrower shall prnmptly discharge any lien which has priority over this Securiiy Instrur►aent unless Borrower: (a) agrees
<br />in wriling to the payment of the obli�ation secured by the liep in a manner acceptable to Lender, 6ut only so long as ]3orrower
<br />iti performing such agreement; (h) contests the lien in good faith by, or defeuds agarnst enforcement of the lien in, legal
<br />proceedings whicp in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, hut
<br />only until such proceedings are concluded; or (c) secures from the l�older of the lien an agreement satisfaclory to Lender
<br />subordinating the lien to this Security Instrument. If Lender detemtines that any part of the Property is subject t.o a lien which
<br />can attain pru7ri[y over this Security instrument, Lender may give Borrower a notice identifying the l�en. Within 10 days of
<br />the date on which that. notice is given, $orrower shall satisfy ihe lien or take one or more of the actions sel forth above in this
<br />Section 4.
<br />Lender may reyuire Borrower to pay a onc-trme charge for a real estate tax verification and/or reporling service used by
<br />Lender in canneccion with this Loan.
<br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erecled on the Property
<br />insured a�ainst Ioss hy fire, hazards included within the term "extended coverage," and any other hazards 'rucluding, but not
<br />lirnited to, earthquakes and flnods, for which Lender requires insurance. This rnsurance shall be maintained in the ainounts
<br />(including deductible levels) and for the periods that Lender requires. What Lender requ'rres pursuant to the preceding
<br />sentences exn change during the tenm of the Loan. The insurance carrier providiug the insurance shall be chosen by Borrower
<br />subject to Lender's right to disapprove Borrower's choice, which right shall not he exercised unreasonably. Lender may
<br />require Borrower to pxy, in connection with this Laan, either: (a) a ape-tirne charge for flood zope determination, certification
<br />and tracking services; or (b) a one-tune charge for flood zone determination and certification services and subsequent char�es
<br />each t'►►�e remappings or similar changes occue wh7ch reasotubiy triigllt affect such detertnination ot certificatiop. �prrower
<br />shall also be responsible for the payxnent of auy fees imposed by the Federal Emergeucy Management Agency rn connection
<br />with the review of any flood zone determination resulting from an nhjection by Borrower.
<br />If Borrc�wer fails to maintain any nf the coverages descrihed above, Lender may obt�in insurapce coverage, at Lender's
<br />optinn and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage.
<br />Therefore, such coverage shall caver Lender, but rni�ht or might not prntect Borrower, Borrower's equity in the Properly, or
<br />the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was
<br />previously iu effect. Bc>rrower acknowledges that the cost of tpe insurance coverage sn obiained might si�nificantly exceed the
<br />cost of insurance lhat Borrower could have obtained. Any �unounts disbursed by Lepder under this Sectio❑ 5 shall become
<br />additional debt of Borrower secured by this Security Instrument. These amounts shall bear interesC. at the Note rate from the
<br />date of disbursement and shall be payablc, with such interest, upon notice from Lender to $orrower requestiug payment.
<br />All insurance policies requtred hy Lender and reqewals of such policies shall be subject to I.,ender's right to disapp�rove
<br />such policies, shall include a standard mort�age dause, and shall name Lender as mortgagee and/or as an additional loss payee.
<br />Lender shall have the right to hold the policies and renewal certifieates. If Lender requires, Borrower shall prc�mpily give to
<br />Lender all receipts of pxid premiuins and reuew<tl notices. If Borrnwer obtains any farm of insurance covera�e, uot otherwise
<br />required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and
<br />shall t�me Lender as mortgagee and/or as an additional loss payee.
<br />Tn the event of lnss, Borrower shall give prornpt notice to the insurance carrier and Leuder. Lender may make proof of
<br />loss if not made promptly by $orrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds,
<br />whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of tl�e Properly, if the
<br />restoratinn or repair iti economically feasible and Lender's security is not lessened. During such repair and restoration period,
<br />I,ender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspecl such Property to
<br />ensure t.he work l�as been completed lo Lender's satisfaction, provided that such inspection shall be undertaken promptly.
<br />Lender may disburse proceeds far the repairs and restoration in a single payment or in a serics of progress payments as t.he
<br />work is completed. Untess an agreement �s rnade in writin� or Applicable Law requires interest to be paid on sucl� insurance
<br />proceeds, Lender shall noC be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or
<br />ot.her third parties, ret�iue[i by Borrower shall not be paid out of the insurance proceeds and shall be the snle obligation of
<br />Borrower. If the restoration or repair is not economically feasible or Lender's securrty would be lessened, the insurance
<br />proceeds shxll be applied tc� the sums secured by this Security Instrument, whether or not then dne, with the excess, if any,
<br />paid to Borrower. Such msurancc proceeds shall bc applied in the order provided Cor in Section 2.
<br />if $orrower abandons che Property, Lender may file, negotiate and settle any available insurance claim and related
<br />matters. if Bc�rrower does nnt respond withiu 30 days to a notice from Lender that the insu.rance carrier has offered io seule a
<br />claim, then Lendcr may negotiate and settle the claim. The 30-day period will begin when the notice is giveu. lu either event,
<br />or if Lepder acquires the Yroperly under Sectinn 22 or otherwise, Borrower hereby assigus ta Lender (a) Rorrower's rights to
<br />any ipsurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any
<br />other of Horrower's rights (other thau the right to any refund of unearned premiums paid by Borrower) under all insurance
<br />�olicies covering the PropeRy, insofar as such r'rghts are applicable to the coverage of the Property. Lender may use the
<br />msurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Not.e or this Security It�strument,
<br />whether or nat then due.
<br />G. Occupancy. Borrower shall occupy, establish, apd use the Property as Borrower's principal residence wrthin 60 days
<br />after the execution of this SecuriCy Instrument and shall continue to occupy the Property as Borrower's principal residence for
<br />at least one year after lhe date of occupancy, unless I.,ender ot4erwise agrees in writing, which cousenl shall not be
<br />uureasonably wichheld, or unless extenuating arcumstances exist which are beyond Borrower's contral.
<br />NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />eankars Systems, Inc., St. Cloud, MN Form MP-1-NE B117/2000
<br />� �
<br />�
<br />(pu8e 3 nf 7 [xrges)
<br />� y; ,V
<br />Form 3028 1/07
<br />
|