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<br />L.ender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zona
<br />determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification
<br />services and subsequent charges each time remappings or similar changes occur which reasonably might affect such
<br />determination or certificatian. Barrawer shall also be responsible for the payment of any fees imposed by the Federal
<br />Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection
<br />by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, t..ender 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 of
<br />coverage. Therefore, such coverage shall cover L,ender, but might or might not protect Borrower, Borrower's equity in the
<br />Property, or the contents of the Property, against any risk, hazard or hability and might provide greater or lesser coverage
<br />than was previously in effect. Borrower acknowledges that the cost ofthe insurance coverage so obtainad might sipnificantly
<br />exceed the cost of insurance that Borrawer could have obtained, Any amounts disbursed by Lender under this Sectaon 5 shall
<br />become additional debt ofBorrower secured bythis Security Instrument. These amounts shall bear interest at the Note rate
<br />from the date of disbursement and shall be payable, with such intarest, upon notice from Lender to Borrower requesting
<br />payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br />disap�rova such policies, shall include a standard mortgage clause, and shall name Lend�r as mortgagea and/or as an
<br />additional loss payee. L.�nder shal l have the ri�ht ta hold the policies and renewal certificates. If l,�nder requires, Borrower
<br />shall promptly give to I.ender all receipts ofpaid premiums and renewal notices. If Borrower obtains any form of insurance
<br />caverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such pqlicy shall include a
<br />standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. I.ender maymake proof
<br />of loss if not made pramptl� by Barrower. LTnless L.ender and Borrower otherwise agree in writin�, any insurance proceeds,
<br />whether or not the underlying insurance was required by I..ender, shall be applied to restoration or repa�r ofthe Property, if
<br />the restoration or repair is economically feasible and I.ender's security is not lessaned. During such repair and restoration
<br />period, Lender shall have the right to hold such insurance proceeds until L.ender has had an opportuntty to inspect such
<br />Property to ensure the work has been complated to I,ender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender ma� disburse proceeds for the repairs and restoration in a single payment or in a series of progress
<br />payments as the work �s completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid
<br />on such insurance proceeds, Lender shail not be required to pay Borrower any interest or earnings on such proceeds. Fees
<br />for public adjusters, or ather third parties, retained by Borrower shall not be paid out ofthe insurance proceeds and shall be
<br />the sole obligation of Borrower. If the restoration or repair is not econamically feasible or Lender's security would be
<br />lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due,
<br />with the excess, if any, paid to Borrower. Such insurance proceeds shali be applied m the order provided for in Sectian 2.
<br />If Borrower abandons the Property, Lender may file, negatiate and settle any available insurance claim and related
<br />matters. If Borrower does not respond within 30 days to a notice �'rom Lender that the insurance carrier has offered to settle a
<br />claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. ln either
<br />event, or if Lender acquires the Properiy under Section 22 or atherwise, Barrower hereby assigns to Lender (a) Borrower's
<br />rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument,
<br />and (b) any other of Borrower's rights (other than the ri ht to any refund of unearned premiums paid by Borrower) under all
<br />insurance palicies covering the Property, insofar as suc� rights are applicable to the coverage ofthe Property. Lender may
<br />use the insurance proceeds either to repair or restare the Property or to pay amounts unpaid under the Note or this Security
<br />Instrument, whether or not then due.
<br />6. Occupaney. Borrawer shall occupy, establish, and use the Property as Borrowar's principal residence within
<br />60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal
<br />residence for at least one yaar after the date
<br />of occupancy, unless I.ender otherwise agrees in writing, which consent shall not be unreasanably withheld, or unless
<br />extenuating circumstances exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Pratection af the Property; Cnspections. Borrower shall not destroy,
<br />damage or impair the Properry, allow the Property to deteriorate or commit wasta
<br />an the Property. Whether or not Borrower is residing in the Property, Barrower shall maintain the Property in order to
<br />prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
<br />Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property ifdamaged to
<br />avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the
<br />taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if I.ender has released
<br />proceeds for such purposes. I.ender may disburse proceeds Far the repairs and restaration m a smgle payment or in a series
<br />of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or
<br />restore the Property, Borrower is not relieved of Borrower's obligation for the completion af such repair or restoration.
<br />I.ender or its agent may make reasonable entries upon and inspections ofthe Property. lf it has reasonable cause,
<br />L,ender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or
<br />prior to such an mterior inspection specifying such reasonable cause.
<br />8. Borrower's Loan Application. Borrower shall be in default if, during the I..oan application process,
<br />Borrowar or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave
<br />materially false, misleading, or inaccurate information or statements to I,ender (or failed to provide I.ender with material
<br />informat�on) in connection wrth the Loan. Material representations include, but ara not limited to, representations concerning
<br />Borrower's occupancy of the Property as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument, lf
<br />(a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal
<br />proceeding that might significantly affect Lender's interest in the Property and/or rights under this SecurityTnstrument (such
<br />as a proceeding in bankruptcy, prabate, for condemnation or forfeiture, for enforcement of a lien which may attain pr�ority
<br />over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Aroperty, then Lender
<br />rnay do and pay fpr whatever is reasonable or appropriate to pratect Lender's interest in the Property and rights under this
<br />Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the
<br />Property. L.ender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priorit� over
<br />this Security lnstrument; (b) appearin� in court; and (c) payinp reasonable attarneys' fees to pratect its interest in the
<br />Property and/or rights under this Security Instrument, including rts secured position in a bankruptcy proceeding. Securing
<br />the Properry includes, but is not limited to, entering the Property ta make repairs, change locks, replace or board up doors
<br />and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities
<br />turned on or off. Although I.ender may take action under this Section 9, L.ender does not have to do so and is not under any
<br />duty or obligatinn to do so. lt is agreed that Lender incurs no liability for nqt taking any ar all actions authorized under this
<br />5ection 9.
<br />Any amounts disbursed by Lender under this Sectian 9 shall become additional debt af Barrower secured by this
<br />Security Instrument. These amounts shalt bear interest at the Note rate from the date of disbursemer►t and shall be payable,
<br />with such interest, upon natice from L.ender ta Borrower requesting payment,
<br />Ifthis Securiry Instrument is on a leasehold, Borrower shall comply with all the provisians afthe lease. IfBarrower
<br />acquires fee title to the Property, the leasehold and the fea title shall not merge unless Lender agrees to the merger in writing.
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRLiMENT Form 3028 1/O1 (page 4 of8 pages)
<br />975a.CV (3/09) 911691J59 / 9902425019 Creative Thinking, Inc.
<br />GOTd(OOOad4d9)
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