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201009814
<br />fails to pay the amount due for an Escrow item, Lender may exercise rts rrghts under Section 9 and pay such amount and
<br />Borrower shall then be obligated under Section 9 to repay to Leuder any such amount. Lender may revoke the waiver as to any
<br />or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay
<br />to Lender all Funds, and in such amounts, that are then required under this Section 3.
<br />Lender may, at any time, collect aud hald Punds �a an amount (a) sufficiea[ to permit Lender to apply the Funds at the
<br />time specified under RESPA, and (b) not to exceed the rnaximurn amount a lender can require under RESPA. Lender shall
<br />estimate the amount af Funds due on the hasis of curren[ data and reasonable estixnates af expenditures o.f future �scrow Items
<br />or otherwise in accordance with Applicable I.aw.
<br />'I'he Funds shall be held m an institution whose deposits are insured by a federal agency, instrumentaliry, or entiry
<br />(including Lender, if I.,ender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. I.,ender shall
<br />apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shalt not charge Borrower for
<br />holding and applying the Funds, annually analyziag the escrow accouat, or verifying the Escrow Items, unless Lender pays
<br />Borrawer interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made m
<br />writing or Applicable Law requires interest ta be paid an the �unds, Lender shalt not be required to pay Borrower any interest
<br />or earnings on the Fuuds. Barrower and Lender can agree in writing, however, that interest sha11 be patd on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accou►v:ing of the Funds as required by 1tBSPA.
<br />If there is a sur�lus of �unds held in escraw, as defined under RESPA, Lender shall account to Borrower for the excess
<br />funds in accordance w�th RESPA. If there 'rs a shortage of Punds held in escrow, as defined under RESPA, Lender shall notify
<br />Borrower as required by RFSPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in
<br />accordance with RESPA, but in ao more tt�an 12 monthly payments. If there is a deficiency of Funds held in escrow, as
<br />defined under RESPA, Lender shall natify $orrower as required by RESPA, and $orrower shall pay to Lender the amount
<br />necessary to make up the deficiency in accordaace with RESPA, bnt in no more than 12 monthly payments.
<br />Upon payrneut in full of all sums secared by thrs Security Iustrument, Lender shall prprr�ptly refund to Borrower any
<br />Funds held by Lender.
<br />4. Charges; Liens. Borrowcr shall pay all taxes, assessments, charges, fines, and impositions attributable to the
<br />Property which can attain prioriry aver this Securiry Instniment, leasehold paymeuts or ground reats oa the Property, if any,
<br />and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower
<br />shall pay thein in the manner provided in Section 3.
<br />Borrower shalt promptly discl�.acge any lien which has priority over this Securiry Instrument unless Borrower: (a) agrees
<br />in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrawer
<br />is performing such agreement; (b) con�es�s the lien in good faith by, or defe�ds against enforcemeat of the lien in, leg�l
<br />praceediugs which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but
<br />only unt'rl such proceedings are concluded; or (c) secures from the holder af the lien an agreement satisfactory to Lender
<br />subordinating the lien to this Security Tpstrument. If Lender determines that auy part of the Property is subject to a lien which
<br />can attain priority over this Securiry Iastrument, Lender may give Borrower a notice ident'rfying the lien. Wichin 10 days of
<br />lhe date on which that notice is giveu, $arrawer shall satisfy the tien or take one or rnore of the actions set forth abave in this
<br />Section 4.
<br />Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by
<br />Lender in connection with this Loan.
<br />5. Property Tnsurance. Borrower shall keep the improverr►ents now exiscing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not
<br />limited to, earthquakes and floods, for which Lender requires insurauce. This insurance shall be maintained in the amounts
<br />(inclading deductible levels) and for the periods that Lender reqnires. What Lender requires pursuant to the prcceding
<br />sentences can change during the term of the Loan. The iusurance carrier providing the insurance shall be chosen by Borrower
<br />subject to Lender's right to disapprove Borrower's choice, which right sha11 not be exercised unreasouably. Lender may
<br />require Borrawer to pay, in connection with this I.,oan, either: (a) a one-time charge for flood zone determinatton, certification
<br />and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges
<br />each time rernappings or similar changes occur which reasonably might affect such determina�ion or ceRificatian. Borrower
<br />shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connectian
<br />with the review of any flood zone determination resulting from an ob�ection by Borrower.
<br />If Borrower fails to maintaiu any of the coverages descrrbed above, Leuder may obtain insurance caverage, at Lender's
<br />option and Borrower's expense. Lender is under no obligatiau to purchase any particular type or amount of coverage.
<br />Therefore, such coverage shall cover Lender, bu[ rnight or rnight uot protect Borrower, Borrower's equity in the Property, or
<br />the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was
<br />previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the
<br />cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become
<br />addrtianal debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the
<br />date of disbursement and shall be payable, with such interest, upon notice From I.ender to Borrower requesting payment.
<br />All insurance policies required by Lender and renewals of such policics sha11 be subject to Lender's right to disapprove
<br />such policies, shall include a standard mort�age clause, and shall name Lender as mortgagee and/or as au additianal loss payee.
<br />Lender shall have the right to hold the pol�cies and renewal certificates. If Lender requires, Borrower sha11 promptly grve to
<br />Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise
<br />required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and
<br />shall uame I.ender as mortgagee and/or as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insnrance carrier and Lender. Lender may make proof of
<br />loss if not made promptly by Borrower. Unless I.ender and Borrower otherwise agree in wri[ing, any insurance praceeds,
<br />whether or not the underlying insurance was required bq Lender, shall be applied ta res�oration or repair of the Froperty, if the
<br />restaratiou or repair is ecouomically feasible and I,ender's security is not lessened. During such repair and restaration period,
<br />Lender shall h�ve the right to hold such insurance proceeds until Lender has had an opportunity ta iaspect such Property to
<br />ensure the work has heen completed to Lender's satisfaction, provided that such inspection shall be undeRaken promptly.
<br />L,ender may disburse proceeds for the repairs and restoraCion in a single payrnent or in a series nf progress payments as the
<br />work is completed. UnleSS an agreement is made in writing or Applicahle Law requires iaterest to be paid op such insurance
<br />proceeds, Leader shall not be required to pay Barrower any interest or earn'rngs on such proceeds. �ees for puhlic adjusters, or
<br />other third parties, retained by Barrower shall aot be paid out of the insnrance proceeds and shail be [he sole obligation of
<br />Borrower. If the restaration or repair is not economically feasible or Lender's security wauld be lessened, the 'rnsurance
<br />pracceds shall he applied to the surns secured by this Securiry Instru.ment, whether or not theu due, with the excess, if any,
<br />paid to Borrower. Such iusurauce proceeds shall be applied rn the order provided for in Section 2.
<br />If Barrower abandons the PropeRy, Lender may file, uegotiace and settle any available insurance claim and related
<br />matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a
<br />claim, then Lender may negotiate and settle the claim. The 30-day eriod will begin when the notice is giveu. In either event,
<br />or if Lender acquires the Property under Section 22 or otherwise, �orrower hereby assigns to Lender (a) $orrower's rights to
<br />any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Securiry Instrument, and (b) any
<br />other of Borrower's rights (other than lhe right to any refuud of unearned premiums paid hy Borrower) uuder all insurance
<br />�olicies covering the Property, insofar as such rights are applicable to the coverage of the PropeRy Lender may use the
<br />insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrumeut,
<br />whether or nat then due.
<br />6. Occapancy. Barrawer shall occupy, establish, and nse the Property as Borrawer's principal residence within 60 days
<br />after the execution of this Securiry Instrument and shall continue to occupy the Property as Borrower's principal residence for
<br />at least one year after the date of occupancy, anless Lender otherwise agrees in writing, which consent shall not be
<br />unreasonably withheld, ar unless extenuating circumstances exist which are beyond Borrower's control.
<br />NEBRASKA-5ingle Family—Fannie MaelFreddie Mac UNIFURM INSTRUMEN7 �rm 3028�1/0
<br />Bankera Syatema, Inc., St. Cloud, MN Form MD-7-NE 6/17/2000 (page 3 of 7 p[1,qe,C)
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