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20144949U 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 Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to I.ender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. I.,ender may require Borrower to pay, in connection with this Loan, either; (a) a one-time charge for flood znne determination, certification and tracking services; or (b) a one-time chazge for flood zone determination and certification s�rvices and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible 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 Borrawer. If Borrower fails to rnaintain any of the coverages described above, Lender may obtain insurance coverage, at I.ender's option and Borrower's expense. T.ender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover I.ender, but rnight or might not protect Borrnwer, Borrower's equity in the Property, or the contents of the Property, against any xisk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower aclrnowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amaunts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. T'hese amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice fram Lender to Borrowex requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to 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 right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender 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 L,ender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prampt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise 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 repair is economically feasible and I,ender's security is not lessened. During such repair and restoration period, Lender shall have the right ta hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfactian, provided that such inspection shall be undertaken pramptly. 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 ta be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, �B�$� -- Siugle F'amily — Fannk MeelF4c�ddie Mac IINIFORM INNTRUMENT Form 3U7.8 1 � ]� � GCC- G3028-07 (09/Ol) (Page 7 of 19) INtials: y� �