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201U09�94
<br />1111056644
<br />5. Property lnsurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by �re, hazards included within the term "extendcd coverage," and any other hazards including, but not
<br />limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts
<br />(including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the precedin�
<br />sentences can change during the term of the Loan. The insurancc carricr providing the insurance shall be chosen by $orrower
<br />subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasona6ly. I,ender may require
<br />Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and
<br />tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each
<br />time remappings or similar changes occur which reasonably might aff'ect such determination or certification. Borrower shall
<br />also be responsible for the payment of any fees imposed by the Federal �.mergency Management Agency in connection with
<br />the review of any flood zone detern�ination resulting from an objection by Borrower.
<br />If Barrower fails to maintain any of the coveragcs described above, Lender may abtain insurance cavera�e, at
<br />Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount af cov�rage.
<br />Therefore, such coverage shall cover I,ender, but might or might not protect Borrower, Borrawer's equity in the Property, or
<br />thc contents of the Property, against any risk, hazard or liability and might provid� gr�at�r or lesser covcrage than was
<br />previously in eff�et. Borrower acknowledges that the cost of the insurance coverage so obtained might signiFcantly �xceed the
<br />cost of insurancc that Borrower could have obtained. Any amounts disburscd by Lendcr undcr this Section 5 shall become
<br />additional debt ot Borrower secured by this 5ecurity Instrument. These amounts shall bear int�r�st at the Notc rate from thc
<br />datc of disburscmcnt and shall be payable, with such interest, upon noticc from Lender to Borrower requestin� payment,
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional
<br />loss payee. Lender shall have the right to hold the policies and renewal certificates. if I,ender requires, Borrower shall promptly
<br />give to Lender all receipts of paid premiums and renewal notic�s. If Horrower obtains any form of insurance caverage, not
<br />otherwise required by Lender, for damage to, or destructian af, the Property, such policy shall include a standard mortgagc
<br />clause and shall name Lender as mortgagea and/or as an additional loss payee.
<br />ln the event of loss, Borrower shall give prampt notice to the insurance carrier and L,ender. Lender may make proof of
<br />loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds,
<br />whethcr or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the
<br />restoration or repair is economically feasible and I.ender's security is not lessened. During such repair and restoration period,
<br />Lender shall have the right to hold such insurancc procecds until Lender has had an opportunity to inspect such Prop�rty to
<br />ensure the work has been completed to Lender's satisfaction, provided that such insp�etion shall be undertaken pramptly,
<br />Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the
<br />work is completed. Unless an agreement is made in writing or Applicable Law requires intcrest to be paid an such insurance
<br />procecds, Lender shall not bc rcquired to pay Borrower any interest or earnings on such proceeds. Fees for public adjustcrs, or
<br />ocher third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of
<br />Borrower. If the restorAtion or repair is not economically feasible or Lender's security would bc lessened, the insurance
<br />proceeds shall be applied to the sums secured by this Sccurity lnstrument, whether ar not then due, with the excess, if any, paid
<br />to Borrower, Such insurince proceeds shall be applied in the ordar provided for in 5ection 2.
<br />If Borrower abandons the Property, Lender may filc, negotiate and settle any available insurance claim and related
<br />matters. If Borrower daes not respond within 30 days to a notice fram I.ender that th� insurance carrier has offered to settle a
<br />claim, then Lender may negotiate and settle the claim. The 30-day p�riod will begin when the notice is given. In either event,
<br />or if Lcnder acquires the Property under 5ection 22 or atherwise, 8arrower hereby assigns to Lender (a) Borrower's rights to
<br />any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security lnstrument, and (b) any
<br />other of Borrower's rights (other than thc right to any refund af unearned premiums paid by Borrower) under all insurance
<br />policies covering the Property, insofar as such rights are applicable to thc covcrage of the Property. Lender may use the
<br />insurance proceeds eithcr to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument,
<br />whether or not then due,
<br />6. Occupancy. f3orrower shall occupy, establish, and use the Property as Borrower's principal residence within GO
<br />days after the execution of this Security Instrument and shall continue to occupy thc Property as Borrower's principal residence
<br />for at least one year aftcr the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not bc
<br />unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control.
<br />N�BRA5KA--Single Family--Fannie MaelFreddie Mac IINIFORM INSTRUMENT
<br />� 338.2 Page 5 of 12 Form 3028 1/01
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