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2011�D2�7
<br />determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the �ederal
<br />EmergencyManagement Agency in connection with the review ofany flood zone determination resulting from an objection
<br />by Borrower.
<br />lf Borrower fails ta maintain any of the coverages described above, Lender may obtain insurance coverage, at
<br />L,ender's option and Borrower's expense. I.ender is under no obligation to purchase any particular type or amount of
<br />coverage. Therefore, such coverage shall cover L,ender, but might or might not protect Borrower, Borrower's equity in the
<br />Property, or che contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage
<br />than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might si�nificantly
<br />exceed the cost oFinsurance that Borrower could have obtained. Any amount5 diabursed by Lender under this Sect�on 5 shall
<br />become additional debt of Borrower secured by this Security Instrument. These amounts shal I bear interest at the Note rate
<br />from the date of disbursement and shall be payable, wifh such interest, upon notice from Lender to Borrower requesting
<br />payment.
<br />All insurance policies required by Lender and renewals of such policies tihall be subject to I,ender's right to
<br />disapprove such policies, shall include a standard mortgage clause, and shall name I.ender as mortgagee and/or as an
<br />additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender require�, Borrower
<br />shall promptly give to Lender all receipts of pa�d premiums and renewal notices. If Borrower obtains any form of insurance
<br />coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a
<br />standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and L.ender. Lender may make proof
<br />of loss ifnot made promptlybyBorrower. Unless Lender and Borrower otherwise a�;ree in writing, any insuranceproceeds,
<br />whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair offhe Property, if
<br />the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration
<br />perind, L,ender shall have Che right to hold such insurance proceeds until I.ender has had an opportunity to inspect Such
<br />Properry to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender rnay disburse proceeds for the repairs and restoration m a single payment or in a series of prn�ress
<br />payments as the work is completed. Unless an agreement is made in writing or Appl�cable L.aw requires interest to be paid
<br />on such insur�nce proceeds, Lender shall not be required to pay Borrower any interest or earnin�s on such proceeds. Fees
<br />for public adjusters, or other third parties, retained by Borrower shall not be paid out of'the insurance proceeds and shall be
<br />the sole obligation of Borrower. If the restoration or repair is not economically feasible or �'_.ender's security would be
<br />lessened, the insurance proceeds shal l be appl ied to the sums secured by thiti Security Instrument, whether or not then due,
<br />with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />IfBorrower abandons the Property, Lender may file, negotiate and settle any available insurance clairn and related
<br />matters. 1fBorrower does not retipond within 30 days to a notice from L,ender that the insurance carrier has offered to settle a
<br />clairn, then Lender rnay negotiate and settle the claim. The 30-day period will begin when the notice is given. In either
<br />event, or if I.ender acquires the Property under Section 22 ar otherwise, Borrower hereby assigns to L.ender (a) Borrower's
<br />rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Notc or this Security Instrument,
<br />and (b) any other of Borrower's rights (other than the right Co any refund of unearned premiums paid by Borrower) under al I
<br />insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may
<br />use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security
<br />�nstrument, whether or noC then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Properiy as Borrower's principal re5idence within
<br />60 days after the execution of this Security Instrument and shal I continue to occupy the Property as Borrower's principal
<br />residence for at least one year after the date
<br />oF occupancy, unless I,ender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br />extenuating circumstances exist which are beyor►d Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy,
<br />darnage or impair the Property, allow the Property to deteriorate or commit waste
<br />on the Property. Whether or not Barrower is residing in the Property, Borrower shall maintain the Property in order to
<br />prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
<br />Section 5 that repair or restoration is not economical ly feasible, Barrower shall promptly repair the Property if damaged to
<br />avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or Che
<br />taking ot; the Froperty, Borrower shall be responsible for repairing or restoring the Property only if Lender has released
<br />proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series
<br />of progress payments as the work is completed. If the insurance or condemnation proceeds are not suffic�ent to repair or
<br />restore the Property, Borrower is not relieved of Borrower's obligation for the completian of such repair or restoration.
<br />Lender or its agent may rnake reasonable entries upon and inspections of the Property. If it has reasonable cause,
<br />L,endcr may inspect the interior of the improvements on the Property. I.ender shall give IIorrower notice at the time of or
<br />prior to such an interior inspection specifyin� such reasonable cause.
<br />S. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process,
<br />Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave
<br />materially false, misleading, or inaccurate information or statements to I,ender (or failed to provide l.ender with material
<br />information) in connection with the Loan. Material representations include, but are not limited to, representations concerning
<br />Borrower's occupancy of the Property as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Security instrument. lf
<br />(a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal
<br />proceeding that might significantly affect L.ender's interest in the Property and/or rights under this Securitylnstrument (such
<br />as a proceeding in bankruptcy, probate, for condernnation or forfeiCure, for enforcement of a lien which may attain priority
<br />over this SecuriCy Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then L,ender
<br />may do and pay for whatever i5 reasonable or appropriate to protect L.ender's interest in the Property and rights under fhis
<br />Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the
<br />Property. I.ender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priorit� over
<br />this Security Instrument; (b) appearing in court; and (c) payin� reasonable attnrneys' fees to protect its interest m the
<br />Property and/or rights under this Security Instrurnent, includmg its secured position in a bankruptcy proceedin�. Securing
<br />the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors
<br />and windows, drain water frarn pipes, eliminate building or other code violations or dangerous conditions, and have utilities
<br />turned on or off. Although I.ender may take action under this Section 9, Lender does not have to do so and is not under any
<br />duty or obligatian to do so. It is agreed thac Lender incurs no liability for not taking any or all actions authorized under this
<br />Section 9.
<br />Any amounts disbursed by L.ender under this Section 9 shall become additional debt of Borrower secured by this
<br />Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement attd shall be payable,
<br />with such interest, upon notice from Lender to Borrower requesting payment.
<br />If this Security Instrument is on a leasehold, Borrower shall comply with al I the provisions ofthe lea�e. IfBorrower
<br />acquires fee title ta the Property, the leasehold and the fee title shall not merge unless Lender a�rees to the merger in writin�.
<br />10. Mortgage Insurance. If Lender required Mortgage lnsurance as a condition of making the Lc7an,
<br />Borrower shall pay the premiums required to maintain the Mort�age Insurance in effect. If, for any reason, the Mortgage
<br />Insurance covera�e required by Lender ceases to be available trom the mortgage insurer that previously provided such
<br />NEBRASKA--Singlc Family--Fannic Mac/Fwcddie Mac UNIFQRM INSTRUMENT
<br />12439.CV (1/O8) 904606
<br />(MERS) Form 3028 iiol (page 4 of'8 page,r)
<br />Creative Thinking, Inc.
<br />GOTQ(001462R I )
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