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2011000�3
<br />fails to pay the amount due for an I:scrow Item, Lender may exercisc its rights under Section 9 and pay sucli �mount and
<br />Borrower shall then be obligat�d under Section 9 tci repay lo Lender any such amount. I,cndcr m�y revoke the waiver �+s lo any
<br />or all Escrow Items at any tune by a notice given in accordance with Section l5 and, upon tiucli rcvocation, Borrower shall Pay
<br />to Lender all Funds, and in such amounts, that are then required under I.his Section 3.
<br />I..ender may, at any time, collect and hold Funds in an amcwnt (a) sufficient to permit Lender tc� apply the Funds at the
<br />tirne specified under R�SPA, and (b) not to exceecl the maximum amount a lencler can reyuirt under ItESPA. Len�ler sh�ll
<br />estunate the amount c�f Funds due on the basis of curr�nt data ancl reasonable estimnte� of expenditures of fuh�re T;scrow Items
<br />or othexwise in accordance with Applicable Law.
<br />The Punds shall be held in an institution whose �lepotiits are insured by a federal agency, intitrui��entality, or entity
<br />(including Lender, if Lender is an institution whose cleposiis are so insured) or in any Pecleral Homc Loan Bank. Lender �hall
<br />apply the Funds to pay the Escrow Items nc� latct than the time specified undcr RF_.SPA. i,ender shall not charge i3c�rrower for
<br />hnlding and applying the Funds, annually analyzing the escrr�w account, or verifying Che Escrow Items, unless Lendcr P�ys
<br />$orrower interest on the Funds and Applicable Law permits i,cnder to make such a charge. Unless an agreemcnt i5 made in
<br />writing or Applicahle Law requires interest to be paid on the Funds, Lender shall not be rec�uirecl to pay Fiorrowcr any interest
<br />or earnings on the Funds. T3orrower and Lender can agree in writin�, howcver, t.hat inlerest shall be paid on the Puncls. I.,ender
<br />shali give to Borrower, without charge, an annual accountii�g of the Funds as reyuired by RFSPA.
<br />If therr: is a surplus of Funds held in escrow, as defincd ttnder IZESI'A, Lender shall accotmt to T3orrowcr for the excess
<br />funds in accardance with RESPA. If there is a shortage of Pundti h41d in escrow, as defined un�ler RESPA, Lender shall nc�tify
<br />Borrower as required by RF,SPA, and Borrower shall pay to Lender the amc�unt necessary to make up the shortage in
<br />accordance with RESPA, but in no more than 12 monthly payments. if there is a deficicncy of �unds held in escrow, as
<br />defined under RESPA, Lender shall notify Borrower as required by RESI'A, and Borrower shall pay to I..ender tlte amount
<br />necessary to make up the deficiency in accordance with RF,SPA, hut in no more than 12 monthly payments.
<br />Upon payment in full of all sums securecl by tk�i� Securily Instrument, Len�ler shall prc�rnptly refuncl tc� T�orrc�wer �ny
<br />Funds held by Lender.
<br />4. Charges; Liens. $orrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the
<br />Property which can attain ptiority ��vcr thi5 Security Instrument, leasehold payments or ground rents on the Prc>Perty, if any,
<br />and Community Association Dues, Pees, xnd Assessrrtents, if any. `I'o the extent that these items are Escrow items, T3orrower
<br />shall pay them in the manner provided in Section 3.
<br />Bc�rrower shall promptly discharge any lien which has prioriry over this Security Instrument unless $orrowcc: (a) agrees
<br />in writing to the payment of the obligation secured by the lien in a manner acceptablc fo Lcnder, birt only so long as Borrower
<br />is performing such agreement; (b) contests the lien in good faith by, or dct�nds against enti�rcement of the lien in, legal
<br />proceedings which in Lender's opinic�n operalc to prcvcnt Ihe enforcement of tlie lien while those proceedings are pending, but
<br />only until such prnceedings are concludcd; or (c) secures from the holder of the lien �n agreement satisfactory to Lender
<br />subordinating the lien to this Security Instrument. If Lender cletermines that any part of the Property is subject to a lien which
<br />can attain priority over this Security Instrument, Lender may give Borrower a nr�tice identifying the lien. Within 10 dayti of
<br />the date on whieh that notiee is given �3orrc�wer shall satasly tlic lien or takc one or more c�f thc action� act forth abov� 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 �nsurance. F3orrower shall keep ihe improveincnl� now cxis�ing on c�rcaflcr crcctcd on the Yroperty
<br />insured against loss by fire, hazards included within the term "extendeci coverage," and any other hazards inclucling, but nnt
<br />1'united to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintainecl in che amo�mtti
<br />(including deductible levcls) and for thc periods that Lcnder reyuires. What Lender r�yuires pursu�nt to the preceding
<br />sentences can change ciuring the term of thc L,oan. The intiurance carricr providin� the insurancc tihall tx cl�osen by Borrower
<br />subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender rnay
<br />require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for tlood zone determination, certification
<br />all(1 tCaG�{lll� SCTVIL'eS� pl' �rl� 3 n11e-(1ITle Gt]aC�e �[)P �()()C� 7C)i1C (]E(�TIC1XIl�itl()11 and certiTication services and subsequent l;}1�iT'�CS
<br />each time remappings or sunilar chang�s occur which reasc�nably might afkect such determination or certification. Iiorrower
<br />shall also be responsible for the payment of any fees imposed hy the Federal Emergency Management Agency in connection
<br />with the review of any flood zone determination resulting from an objection by 13��rrower.
<br />If Borrower fails to maintain any of fhe coverages clescribcd ahc�ve, Lender may obtain insurance coverage, at Lender's
<br />option and Borrower's expense. Lender is un�ler no oUligation to purchase any p�rlic�ilar lypc or amotmt of coverage.
<br />Therefore, such coverage shall cover Lencler, but might or might not protect Borrower, Borrowcr's cyuity in thc I'roPerly, c�r
<br />the contents of the Property, against any risk, hat,ard c�r liabilily and mi�;ht provide greater or lesser coverage than was
<br />previously in effect. Borrower acknowledg�s that the cost r�f the insurance coverage so obtained might significantly exceed the
<br />cost of insutance that Botrower coul�l have obtained. Any amounts disbursed by Lender under this Sectic�n 5 shall hecome
<br />additional debt of Borrower secured by this Security Instrument. These amounfs shall hc:ar interest at the Note rate frorn the
<br />date of disbursement and shall be payable, with suclt intcre�t, upon notice from Lender to Borrower requesting payment.
<br />All insurance policies required by Lendet xnd renewal� of such policies shall be subject to Lcndcr'ti right to di�xpprc�ve
<br />such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee an�l/or as an additional loss payee.
<br />Lender shall have the right to hold the pc�licies and renewal certificates. If Lendcr reyuires, Borrower shall promptly give to
<br />Lender all receipts of paid premiums and renewal notices. If Borrowcr obtains any form of insurance covcrage, not otherwise
<br />required by Lender, for damagc fc�, or destruction oP, the Property, such policy tihall include a stanclard mortgage clause and
<br />shall name Lender as mortgagee and/or ati an adciiticmal loss payee.
<br />In the event of loss, Borrower shall give prompt notice to fl�c insurance carrier �nd Lencler. I.,ender rnay make proof ��P
<br />loss if nol made promptly by Borrower. Unless Lender and �iorrower otherwise agree in writing, any insurance proceeds,
<br />wlaether or not the unclerlying insurance was r�yuired by I.encler, shall be ap�lied to retitc�ration or repair of the Yroperty, if the
<br />restoration �r repair is economically feasible and i,ender's security is not lesscncd. During such repair and re�toration pericul,
<br />I,ender shall have the right to hold such insurance proceeds until Lender has had an opportunity t.o inspcct �uch Property to
<br />ensure the work has been cotnpleted to I,ender's satisfact.ion, provided that such inspection sl�all be unclertaken promptly.
<br />Lender may disburse proceeds for the repairs and restoralion in a single payment or in a 5eries of progress paymenks as lhc
<br />work is completed. Unless an agreement is made in writing or Applicahle Law requires interest tu be paid on si�ch insurance
<br />proceeds, Lender shall not be required to pay $orrc�wer any interest or earnings on such proceeds. Fe�s for puhlic a�l,justers, or
<br />other third parties, retained by Borrower shall nc�t be paid out of the insurance proceeds and shall be the sole obligation of
<br />Borarower. If the restoration or repair is nnt economically fcasiblc c�r Lender's security would be lessened, thc insurance
<br />proceeds shall be appHed to the sums securcd by this Security Instruinent, whether or not tl�eai duc, with the excess, if any,
<br />paid to $orrowc:r. Such insurance proceeds shall be applied in tlie order prc�vided fnr in Scclic>n 2.
<br />If I3orrower abandons lhe Property, Lender may filc, ncgcitiate and settle any availabfe insurance claim and related
<br />matters. If Borrower does not respond within 30 days to a ncittce tr<�m Lender that the insurance carrier has ofl�ered to settle a
<br />claim, then Lender may ncgotiate and settle the claim. The 30-day period will begin when the noticc is given. In either evenf,
<br />or if I�ender acquires the Prc�perty under Section 22 nr otherwise, Borrower hereby assigns to Lcnder (a) Borrower's rights to
<br />any insurance procecds in an amount not to exceed the amounts unpaid un�ler the Note or this Security Instrumcnt, and (b) any
<br />other of Borrower's tights (ather than the ri�ht to any refund of unearned premiums Paicl hy Fiorrower) under all insurance
<br />policies covering the Property, insofar as such rights are applicahle to the covcrage of the Yroperty i,ender may use the
<br />msurance proceeds either to repair c7r restore the Properly or tc� pay amounts unpaid imder the Notc c�r th�s Security Instrument,
<br />whefhcr or not then due.
<br />6. Occupancy. $orrower shall nccupy, establish, and use the 1'rc.iperty as Borrower's principal residcnce within 60 days
<br />after the execution of this Security Instrument and shall continue to occupy the Property as $orrower's principal residence for
<br />at least one year a[ter the date of occupancy, unlcss Len�er otherwise agrees �n writin�, which consent shall not b�
<br />unreasonably withh�ld, or unless extenuating circumslances exist which ar� beyond Borrowcr' � control.
<br />NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 7/01
<br />Bankers Systems, Inc., St. Cloud, MN Farm MD-1-NF 8(1 7/2U00 (l»RP � 4f �P�'8'''�) .._. — _f...., —
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