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<br />determination or certification. Borrower shall also be responsible for the payment af any fees imposed by the Federal
<br />Emergency Management Agency in connection with the review of any flnod zone determination resulting from an objection
<br />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 purcha5c any particular type or amount of
<br />coverage. Therefore, such coverage shall cover Lender, but might or rnight not protect Borrower, Borrower's equity in the
<br />Prqperty, or the contents of the Property, against any risk, hazard or liab�lity and mi�ht provide greater or lesser coverage
<br />than was previously in effect. Borrower acknowledges that the cost of the insurance coverage sa abtained might significantly
<br />exceed the cost of insurance that IIorrower could have obtained. Any amounts disbursed by Lender under this Section 5 shal I
<br />become additional debt ofBorrower secured by this Security Instrument. These amounts shall bear interest at the Note rate
<br />from the date of disbursement and shall be payable, with such interest, upon notice from L.ender to Borrower requesting
<br />payment.
<br />All insurance policies required by Lender and renewals of such poHcies shall be subject to Lender's right to
<br />disapprove such policies, shall include a standard mort �age clause, and shall name I.ender as mort�;a�ee and/or as an
<br />addrtional loss payee. Lender shall have the right to hold t�e policies and renewal certificates. If I.ender requires, Borrower
<br />shall promptly give to Lender all receipts ofpaid 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 L,ender as mortgagee and/or as an additional loss payee.
<br />In thc event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender rnay rnake proof
<br />of loss if not made promptly by Borrower. Unless I,ender and Borrower otherwise agree in writing, any inslu proceed5,
<br />whether or not the underlymg msurance was required by I.ender, shall be applied to restoration or repair of the Property, �f
<br />the restoration or repair is economically feasible and Lender's secucity is not lessened. During such repair and restorat�on
<br />period, L.ender shall have the right to hold such insurance proceeds untrl L,ender has had an opportunrty to inspect such
<br />Property to ensure the work has been complered to Lender's satisfaction, provided fhat such inspection shall be undertaken
<br />promptly. Lender may disburse proceeds for the repairs and restoration in a srngle payment or in a series of progress
<br />payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid
<br />on such insurance proceeds, L,ender shall not be required to pay Borrower any interest or earnings on such proceeds. Feeti
<br />for public adjusters, or other third parties, retained by Borrower shall not be paid out offhe insurance proceeds and shall be
<br />the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would bc:
<br />lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due,
<br />with the excess, if any, paid to IIorrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />Tf Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related
<br />matters. IfBorrower does not respond within 30 days to a notice from I.ender that the insurance carrier has offered to settle a
<br />claim, then Lender may negotiate and settle the claim, The 30-day period will begin when the notice is given. In either
<br />event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's
<br />rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note ar this Security Instrument,
<br />and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all
<br />insurance policies covering the Property, insofar as such rights are applicable to the coverage ofthe Property. Lender may
<br />use the insurance proceed5 either to repa�r or restore the Property or to pay amounts unpaid under the Note or this Security
<br />Instxument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower'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
<br />of occupancy, unless L,ender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br />extenuating circumstances exist which are beyond Borrower's control.
<br />7. Preservatian, Maintenance and Protection af the Property; Inspections. Borrower shall not destroy,
<br />damage or impair the Property, allow the Froperty to deteriorate or commit waste
<br />on the Property. Whether or not Borrower is residing in the Properiy, Borrower shall maintain the Property in order to
<br />prevent the Properiy from deteriorating or decreasing m value due to its condition. LTnless it is determmed pursuant to
<br />Section 5 that rcpair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to
<br />avoid further deterioration or damage. If insurance or condemnation proceeds are pa�d rn connection with damage to, or the
<br />taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released
<br />proceeds for such purposes. INender may disburse proceeds for the repairs and restoration �n a smgle payment or in a series
<br />of progress payments as the work is completed. If the insurance or candemnation proceeds are not sufficient to repair or
<br />restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration.
<br />I,ender or its a�ent may make reasonable entries upon and inspections of the Property. If it has reasonable cause,
<br />Lender may inspect the mterior of the im rovements on the Property. I.ender shall give Borrawer notice at the time of or
<br />prior to such an mterior insp�ction specifying such reasonable cause.
<br />S. Borrawer'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, m�sleadang, or inaccurate mformation or statements to Lender (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. If
<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 Lender's interest in the Property and/or rights under this Secur�tylnstrument (such
<br />as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain pr�ority
<br />over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then I.ender
<br />may do and pay for whatever is reasonable or appropriate to protect I,ender's interest in the Property and right�s under lhis
<br />Security Instrument, includin�; protecting and/or assessing the value of the Property, and securmg and/or repairing the
<br />Property. Lender'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) appearin� in court; and (c) paymg reasonable attorneys' fee5 to protect its interest m the
<br />Property and/or rights under this Security Instrument, including rts secured position in a bankruptcy proceeding. 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 from pipes, eliminate building or other code violations or dangerous conditions, and have utilitie5
<br />turned on ar off. Although L.ender may take action under this Section 9, I,ender does not have to do so and is not under any
<br />duty or obligation to do so. It is agreed that I.ender incurs no liabil ity for not taking any or all actions authorized under this
<br />Section 9.
<br />Any amounts disbursed by Lender 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 and sha11 be payable,
<br />with such interest, upon notice from Lender to Borrower requesting payment.
<br />Ifthis Security Instrument is on a leasehold, Borrower shall complywith all the provisions ofthe leatie. IfBorrower
<br />acquires fee title to the Property, the (easehold and the fee title shall not merge unless Lender agrees to the merger in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage insurance as a condition of making the Loan,
<br />Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, th� Mortgage
<br />Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such
<br />NEBRASKA—Single Family—Gannie Mae/Frcddic Mac UNIFORM INSTRl1MEN'1'
<br />12439.CV (1/08) 904501
<br />(MCRS) Form 302R iioi (page a ofs p���,$)
<br />Creative Tl�inking, Inc.
<br />GOTO(00145203)
<br />�P
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