201100376 - Laserfiche WebLink

Browse

2011003�� Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a rnanner acceptable to Lender, but only so long as Borrower is perfarming such agreement; (b) cantests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while thos� proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder af the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If I.ender determines that any part of the Property is subject to a lien which can attain priority over this Secuxity Instrument, L.ender may give Borrower a notice identifying the lien. Within 10 days of the date on which that natice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. I,ender may require Borrower to pay a one-time charge far a real estate tax verification and/or reporting service used by L.ender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage, " and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that L.ender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right sha11 not be exercised unreasonably. Lender may require Borrower to pay, in connection with this I,oan, either: (a) a ane-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent chazges each time remappings or similar changes occur which reasanably might affect such determination or certi�cation. Borrower shall also be responsible for the payinent of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flaod zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, L.ender may obtain insurance caverage, at I,ender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of caverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and rnight provide greater or lesser caverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrawer cpuld have obtained. Any amounts disbursed by Lender under this Section 5 shall became additional debt of Borrower secured by this Security Instrurnent. These amounts shall bear interest at Che Note rate from the date of disbursement and shall be payable, with such interest, upan natice from I.,endex to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as rnortgagee and/or as an additional loss payee. L.ender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrowex shall promptly give to Lender all receipts of paid prezniums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by I.ender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name I,ender as mortgagee and/or as an additional loss payee. In the event of loss, Bonower shall give prompt notice to the insurance carrier and Lender. Lender may xnake proof of loss if not made promptly by Borrower. Unless Lender and Borrawer otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender sha11 have the right to hold such insurance proceeds until Lender has had an appartunity to inspect such Property to ensure the NEBRpSKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT �''�...' �-6(NE) �oe>>I PageBof 15 Initials: y �—� % Form 3028 1/01 A