|
201100313
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless
<br />Borrower: (a) agrees in writing ta the payment of the obligation secured by the lien in a manner acceptable
<br />to Lender, but only so long as Borrawer is performing such agreernent; (b) contesCs the lien in good faith
<br />by, or defends against enforcement of the lien in, legal proceedings which in L,ender's opinion operate to
<br />prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings
<br />are concluded; or (c) secures fram the holder of the lien an agreement satisfactory to Lender subordinating
<br />the lien to this Security Instrument. If Lender determines that any paz't of the Property is subject to a lien
<br />which can attain priority over this 5ecurity Instrument, Lender may give Borrower a notice identifying the
<br />lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or
<br />more of the actions set forth above in this Section 4.
<br />L,endex may require Borrvwer to pay a one-time charge for a real estate tax verification and/or
<br />reporting service used by I.,ender in connectian with this l.oan.
<br />5. Property Insurance. Borrower shall keep the improvernents now existing or hereafter erected on
<br />the Property insured against loss by �re, hazards included within the term "extended coverage," and any
<br />other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance.
<br />This insurance shall be maintained in the arnounts (including deductible levels) and for the periods that
<br />Lender requires. What Lender requires pursuant to the preceding sentences cazi change during the term of
<br />the J.oan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's
<br />right to disapprove Borrower's choice, which right shall not be exercised unreasonably. L.ender may
<br />require Borrower to pay, in connection with this L.oan, either: (a) a one-tirne charge for flood zone
<br />determination, certification and tracking services; or (b) a one-time charge for flood zone determination
<br />and certification services and subsequent charges each time remappings or similar changes occur which
<br />reasonably might affect such determination or certification. Borrower sk►all alsa be responsible for the
<br />payment of any fees imposed by the Federal Emergency Managernent Agency in connection with the
<br />review of any flood zone determination resulting fram an objection by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance
<br />covexage, at I..ender's aptian and Borrower's expense. Lender is under no obligation ta purchase any
<br />particular type or amount of coverage. Therefore, such coverage shall covex I..ender, but might or might
<br />not protect Borrower, Borrower's equity in the Property, or the cantents of the Property, against any risk,
<br />hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower
<br />acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of
<br />insurance that Borrower could have obtained. Any amounts disbursed by Lendear under this Section 5 shall
<br />becorne additional debt of Borrower secur�d by this Security Instrurnent. These amounts sha11 bear interest
<br />at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from
<br />L,ender to Borrower requesting payment.
<br />All insurance policies required by I,Qnder and renewals of such policies shall be subject ta I.ender's
<br />right to disapprove such policies, shall include a standard mortgage clause, and sha11 name Lender as
<br />mortgagee and/or as an additional loss payee. I.,ender shall have the right to hold the policies and renewal
<br />certi�cates. If I.ender requires, Borrower shall promptly give to Lender a�l receipts of paid premiunns aa�d
<br />renewal noCices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender,
<br />for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and
<br />shall name L,Qnder 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 I..ender. Lender
<br />may make proof of loss if not made promptly by Barrower. Unless Lender and Borrower atherwise agree
<br />in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall
<br />be applied to restoration or repair of the Property, if the restaration or repair is economically feasible and
<br />Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to
<br />hold such insurance praceeds until Lender has had an opportunity to inspect such Property to ensure the
<br />NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT ,
<br />�-BINE) �oai �� Page 6 of 15 i��t�aig: Form 3U28 1/01
<br />�
<br />
|