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20i10037y
<br />1111p56962
<br />5. Property lnsuranee. Borrower shall kcep the imgrovements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not
<br />limited to, earthquakes and floods, for which L,ender requires insurance. This insurance shall be maintained in the amounts
<br />(including deductible levels) and for the periods that Lender requires. What Lendcr rcquires pursuant to the preccding
<br />sentenccs can change during the tern� of the Loan. The insurance carrier providing the insurance shall be chosen by Barrower
<br />subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasanably. Lender may require
<br />f3orrower to pay, in connection with this Loan, either: (a) a ona-timc chargc for flood zone determination, ccrtilication and
<br />tracking services; or (b) a one-time char�;e for t7ood zone determination and certitication services and subsequent charges each
<br />time remappings or similar changes occur whieh reasonably might affect such determination or certi�cation. Borrower shall
<br />also be responsible for the payment of any fees imposed 6y the Federal Emergency Management Agency in connection with
<br />the review of any f7ood zone determination resulting from an objection 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 obli�atipn tp purchase any particular type pr amount pf coverage.
<br />Thercfore, such covcragc shall cover Lender, but might or might not protect f3orrow�r, Borrower's equity in thc Property, or
<br />the contents of the Prpperty, against any risk, hazard or liability and might provide greater or lesser covera�e than was
<br />previously in effect. T3onower acknowledges that the cost of the insurance coverage so obtained might si�;nificantly cxcecd thc
<br />cost of insurance that Borrower could havc obtained. Any amounts disbursed by Lendcr under this Section 5 shall become
<br />additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from thc
<br />datc of disbursement and shall be payable, with such intcrest, upon notice from Lender to Borrower requestin� payment,
<br />All insurance policies required by I.ender and renewals of such policies shall be subject to Lender's right to
<br />disapprove such policics, shall include a standard mortgagc clause, and shall namc Lendcr as mortgagce and/ar as an additional
<br />loss payee. �ender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly
<br />give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not
<br />otherwise required by Lender, for damage to, or destrucfion of, the Property, such policy shall include a standard mortgage
<br />clause and shall name i.ender as mortgagee and/or as an additional loss payee.
<br />ln the event of loss, Borrower shall give prompt noticc to the insurance carricr and Lender. Lender may make proof of
<br />lass if not made pramptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds,
<br />whcther or not thc underlying insurance was r�yuired by Lendcr, shall be applied to restoration or repair of the Property, if the
<br />restoration or repair ia economically feasible and Lender's security is not lessened. During such repair and restoration period,
<br />Lcnder shall have the right to hold such insuranec procecds until Lendcr has had an opportunity to inspect such Property to
<br />ensure the work has been completed to Lender's satisfaction, provided that such inspeciion shall be undertaken promptly.
<br />Lender may disbursc proceeds for thc rcpairs and restoration in a singlc paymcnt or in a scries of progress payments ns the
<br />work is completed. Unless an agreement is made in writin� or Applicable Law requires inierest co be paid on such insurancc
<br />procceds, Lcnder shall not be rcquired to pay Borrower any interest or earnings on such proceeds, Fees for public adjusters, or
<br />other third parties, retained by Borrower shall not be paid out of the insurane� proce�ds and shall bc the solc obligation of
<br />Borrawer. If the restoration or repair is not econamically felsible or I.ender's security would be lessen�d, the insuranec
<br />proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid
<br />to Borrower. Such insurance proceeds shall be applied in the order provided for in Seccion 2.
<br />lf $orrower abandons ihe Property, Lender may file, negotiate and settle any available insurance claim and related
<br />matters, Tf Borrower does not respond within 3Q dAys to a notice from Lender that the insurance carrier has offered to settle a
<br />claim, then Lender may negotiate and settle the claim. The 30-day pc:riod will begin when the notice is given. In either event,
<br />or if Lender acquires the Property under 5ection 22 or otherwise, Bprrpwer hereby assi�ns to I.ender (a) F3orrower's righis to
<br />any insurance proceeds in an amount not to exceed the amounts unpaid under thc Note or this Security lnstrument, and (b) any
<br />othcr of Borrower's rights (other than thc right to any refund of unearned premiums paid by Borrower) under all insurance
<br />policies coverin� the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the
<br />insurance proceeds cithcr to repair or restore the Property or to pay amvunts unpaid under the Note or this Security instrument,
<br />whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and usc the Property as Borrower's principal residence within 60
<br />days after the execution of this Security Tnstrument and shall continue to occupy the Property as Borrower's principal residcnce
<br />for at least one year aftcr the date of occupancy, unless Lcnder otherwise agrees in writing, which consent shall not be
<br />unrcasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control.
<br />NEBRASKA--Singl� Family--Fannle Mste/Freddie Mac UNIFORM INS'1'RUM�NT
<br />�� 338.2 Page 5 of 12 F'orm 3U28 I/UI
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