|
2oiiool5�
<br />LOA� #: QOQ08250322026
<br />4. Charges; Llens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the
<br />Property which can attain priority over this Security Instrument, leasehold payments or ground rents an the Property,
<br />ifany, and CommunityAssociation Dues, Fees, and Assessments, ifany. Totheextentthatthese items are Escrow Items,
<br />Barrower shall pay them in the manner provided in Section 3.
<br />Borrower shall promptly discharge any lien which has priarity over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the li�n in a manner acceptable to Lender, but only so lang
<br />as �orrower is pertorming such agreement; (b) contests the lien in good faith by, or detends against enforcement of the
<br />lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those
<br />proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part
<br />of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a
<br />notice identiiying the lien. Within 1 o days af the date on which that notice is given, Borrower shall satisfy the lien or take
<br />one or more of the actions set forth above in this Sectian 4.
<br />Lender may require Barrawer to pay a one-time chargefor a real estate taxverification and/or reparting service used
<br />by Lender in connection with this Loan.
<br />5. Property Insurance. Borrower shall keep the improVements now existing or hereafter erected on the Praperry
<br />insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including,
<br />but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in
<br />the amvunts (including deductible levels) and for the periads that Lender requires. What Lender requires pursuant to
<br />the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall
<br />be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall nat be exercised
<br />unreasonably. Lender may require Borrowerto pay, in connection with this Laan, either: (a) a one-time charge for flood
<br />zane determination, certification and tracking seruices; ar (b) a one-time charge for flood zone determination and
<br />certification services and subsequent charges each time remappings or similar changes occur which reasonably might
<br />affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by
<br />the Federal �mergency Management Agency in connecti�n with the review of any flood zone determination resulting
<br />from an objection by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at
<br />Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of
<br />coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in
<br />the Properry, or the contents of the Properry, against any risk, hazard or liability and might provide greater or lesser
<br />coverage than was previously in effect. Borrawer acknowledges that the cost of the insurance coverage so obtained
<br />might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender
<br />under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amaunts shall
<br />bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from
<br />Lender ta Borrower requesting payment.
<br />All insurance policiss required by Lender and renewals of such policies shall be subject ta Lender's right to
<br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as
<br />an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires,
<br />Borrower shall promptly give to Lender all receipts af paid premiums and renewal notices. If Borrower obtains any form
<br />of insurance coverage, not otherwise required by L.ender, fordamage to, or destruction of, the Property, such policy shall
<br />include a standard mortgage clause and shall name Lender as mortgagee and/or as an additinnal loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof
<br />of loss if not made promptly by Borrower. Unless Lender and Borrower atherwise agree in writing, any insurance
<br />praceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of
<br />the Property, ifthe restoration or repair is economicallyfeasible and Lender's security is not lessened. During such repair
<br />and restoratian period, Lender shall have the right ta hold such insurance proceeds until Lender has had an oppartunity
<br />ta inspect such Properry to ensure the work has been completed tn Lender's satisfaction, provided that such inspectian
<br />shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in
<br />a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law
<br />requires interest to be paid on swch insurance proceeds, Lender shall not be required to pay Barrower any interest or
<br />earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrawer sha�l not be paid out
<br />of the insurance praceeds and shall be the sole obligation of Borrower. If the restoration or repair is not ecanamically
<br />feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this
<br />Security Instrument, whether or not then due, with the excess, if any, paid to Borrawer. Such insurance praceeds shall
<br />be applied in the arder provided for in Section 2.
<br />If Borrower abandons the Properry, Lender mayfile, negotiate and settle any availabte insurance claim and related
<br />matters. If Borrower does na# respond within 30 days to a notice from Lender that the insurance carrier has offered to
<br />settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the nntice is given.
<br />In either event, or if Lender acquires the Properry under Section 22 or otherwise, Borrower hereby assigns to Lender
<br />(a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this
<br />Security Instrument, and (b) any other af Borrower's rights (other than the right to any refund of unearned premiums
<br />paid by Borrower) under all insurance policies covering the Properry, insofar as such rights are applicable to the
<br />coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay
<br />amaunts unpaid under the Note or this 5ecurity Instrument, whether or not then due.
<br />6. Occupanoy. Borrower shall occupy, establish, and use the Property as Borrawer's principal residence within
<br />60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal
<br />residence for at least one year after the date of occupancy, unless Lender atherwise agrees in writing, which consent
<br />shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control.
<br />7. Preservatlon, Maintanance and Pratectlon of the Proparty; Inspectlons. Borrower shall not destray,
<br />damage or impair the Properry, allow the Property to deteriorate or commit waste on the Property. Whether or not
<br />Borrower is residing in the Properry, Borrower shall maintain the Property in order to prevent the Property from
<br />deteriorating or decreasing in value due tn its condition. Unl�ss it is determined pursuant to Section 5 that repair or
<br />restoration is not economically feasibl�, Borrawer shall promptly repair the Properry if damaged to avoi further
<br />Initials� :
<br />NEBRASKA—Single Family--Fannle Mse/Freddle Mac UNIF�RM INSTRUMEN7 Farm 30281/01
<br />� 1999-2006 Online Documents Inc. Page 4 CT 9 NEUDEED 0B12
<br />
|