201009487 - Laserfiche WebLink

Browse

2010094�� Borrower sha11 promptly discharge any lien which has priority over this Security Instrument unless Borrow�r: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to I..ender, but anly so long as Borrower is perfornung such agreernent; (b) contests the lien in good faith by, or defends against enforcernent of the lien in, legal proceedings which in I,ender's opinion operate to prevent the enforcement af 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 Instrwnent. If Lender detemunes that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender rnay give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrawer to pay a one-time charge for a real estate tax verification and/or reporting service used by L.ender in cannection with this Loan. 5. Property Insurance. Borrower shall keep the improvernents now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other haza�'ds including, but not lunited to, earthquakes and floods, for which Lender requires insurance. 'This insuxance shall be maultained 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 Loan. The insurance carrier praviding the insurance shall be chosen by Botrower subject to Lender's right to disapprove Borrower's choica, which right shall not be exercised unreasonably. L.ender may require Borrower to pay, in cannection with this Loan, either: (a) a one-time charge for f�ood zone determination, certification and tracking services; or (b) a one-tim� charge for flood aone deternunatian and certification services and subsequent charges each time remappings or similar changes occur which reasonably rnight affect such deternunation or certification. Borrower shall also be responsible for the payment af any fees imposed by t1�e �ed�ral Emergency 1Vlanagement Agency in connection with the review of any flood zone detezr,�.ination resiilting from an objection by Borrower. Tf Barrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's aption and Borrower's expense. I.ender is under no obligation to purchase any particular type or amount of caverage. Therefore, such coverage shall cover Lendet', but might or might nat protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrawer acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by I,ender under this Section 5 shall become addiCional debt of Borrower secured by this Security Instrument. These amounts shall beax interest at the Note rate from the date af 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 disapprave such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. I.ender shall have the right to hold the policies and renewal certificates. If I,ender requires, Borrower shall pramptly give to Lender all receipts of paid premiums and renewal notices. If Bartower obtains any form of insurance coverage, not otlxerwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and sha11 name L.ender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice ta the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless L,ender and Borrower othez�wise agree in writing, any insurance 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 arepair is economically feasible and Lender's secuxity is not lessened. During such repair and restoration period, L.ender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Praperty to ensure the NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUM�NT �-6�NE) lost t1 Page B af 15 i��t�ais: Form 3028 1/07 � , ' . �? . � .. r