201100358 - Laserfiche WebLink

Browse

-a 2oiioo35s Borrower shall promptly discharge any lien which has priority over khis Security Instrument unless Barrower: (a) agrees in writing to the paym.t;nt of the obligalion secured by the lien in a manner acceptable to L.c:nder, but only sa long as 13arrower is performing such agreement; (b) cantests the lien in good faith by, ar defends against enforccment of the lien in, legal proccedings which in I.ender's opinion operate to prevent the enforccment of thc lien while thosc proceedings ar� pending, but only until such proceedings are concludcd; or (c) secures from the h�lder of the lien an agreement sati;+factory to Lender subordinating the lien fo this Security Instrument. If Lender determincs that any part of Che Properly is subject to a licn which can attain priority aver this Security Instrument, I.ender may give Borrower a n�tice identifying the lien. Within 10 days of [he date on which that notice is given, Borrower shall satisfy the lien or take one c�r more of the actians set forth above in this Section �l. Lender may requirc Barrower to pay a one-time charge for a real estate tax vcrification and/c�r reporting scrvice used by I.ender in conncc:Cion with this I,oan. 5, Property Insurance. Borrower shall keep the impr��vernents now existing or hereafter erected on the Property insured against loss by fire, hauards included wilhin the term "�:xtended coverage," and any �ther hazards including, but not limited to, �arthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductiblc levels) and far the periods that Lender requires. What L.ender requires pursuant to th� preceding sentences can change during the tenm af the Loan. "17ie insurance carrier prUViding the insurance shall be chosen by Borrow�r subject to LendGr's right tc� disapprove I3orrower's chvice, which righf shall not be exercised unreasUnably. Lender may require Borrower to pay, in connt;ction with this I..aan, either: (a) a ane-time charge for flood zone determination, certiFication and tracking services; or (b) a one�timc charge for flood zane determinatic�n and certification services and subsequent charges each time remappings c�r similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal �mergcncy Managemenl Agency in cannection with the review of any flood zone determination resulting fram an objection by Borrower. If 13orrower fails to maintain any of thc coverages describcd above, Lendcr rnay obtain insurance caverage, at Lender's option and Borrower's expense. Lender is nnder no cabligation to purchase any particular typ� ar amount of coverage. Thercfare, such coverage shall cover I..,ender, but might or might nc�t protect Borrcawer, Borrower's equity in the Praperty, or the contents of the Prc�perty, against any risk, hazard or liability and mi,ght provide greater or lesser coverage than was previously in effect. Borrower acknowledges that lhc cost of the insurance coveragc so obtained mighC significantly cxceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under lhis Section 5 shall bec:c�m� additional dcbt of Borrower secured by this Security Instrument. These amounts shall bear interest at lhc Note rate from the date of disbursement and shall be payable, with sach interest, upc�n notice from L.ender to 13onrower requesting payrnent. All insurance policies required by T,endcar and renewals of such policies shall be subject to Lendcr's right to disapprove such policies, shall include a standard mortgage clausc, and shall nam� L.ender as mortgagec and/or as an additional loss paycc. I.ender shall have the right to hald the policies and renewal certificates. If Lender requires, Borrower shall promptly givc to Lender all rr.ceipts of paid prcmiums and renewal noticcs. If Borrower abtains any form af 'rnsurance coverag�, not otherwisc required by T.ender, f�r damage to, or destruction of, [he Yroperty, such policy shall include a standard ma�tgage clause and shall name T.ender as mortgagcc; and/or as an addilic>nal loss payee. In the event of loss, Sorr�wcr shall give prompl notice to the insurance carrier and I.ender. Lender may make proof of loss if not made promptly by Borrower. i.lnl�s5 Lender and T3arrvwer otherwise agrec in writing, any insurance proceeds, whethcr or not the underlying insurance was rcyuired by Lender, shall be applied to restoration or repair c�f the Property, if the restoration or repair is economically fcasible and Lender's security is not lessened. I7uring such repair and restoration period, Lender shall have thc right to hald such insurance proceeds until I,ender has had an oppartunity to inspcct such Yroperty to ensure the NEBRA5KA - Single Family - Fannie MaelFreddie Mac UNIFORM INSTRUM�NT �-61NE) los� t 1 Pa�e e af i s mii s: Form 3028 1I09