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2011003b�
<br />1111057062
<br />5. Property Insurance. Borrower shall keep the improvemettts now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extendcd covera�e," and any other hazards including, bui not
<br />limited to, earthquakes and floods, for which Lender requires insurance. This insurancc shall be maintained in the amounts
<br />(including deductiblc levels) and far the periods that Lender requires. What Lender requires pursuant to the preceding
<br />sentenccs can chan�e during the term of the Loan. The insurancc carrier providing thc insurance shall he chosen by 13orrower
<br />subject to Lender's right to disapprove Borrawer's choice, which right shall not bc exercised unreasonably. Lender may require
<br />Borrower to pay in conncetion with this Loan, either: (a) a one-time charge for flood zone determination, certi�cation and
<br />tracking services; or (b) a one-time charge for flood zone detern�ination and certitication services and subsequent charg�s each
<br />time remappings or similar chan�es occur which reasonably might affect such determination or certification, Borrower shall
<br />also bc responsible f'or the payment of any fees imposed by th� Federal Emergency Managcment A�ency in connection with
<br />the review af any flood zone deterniination resultin� from an obj�etion by Borrower.
<br />lf Borrawer fails to maintain any of the coverages dcscribed above, Lender may obtain insurance caverage, at
<br />Lender's option and Borrower's expense. Lendcr is under no obligation to purchase any particular type or amount of coverage.
<br />ThereFore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or
<br />the contents of the Property, against any risk, hazard or liability and might pravide greater or ]esser coverage than was
<br />previously in effect. Borrower acknowledgcs that the cost of the insurance coverage so obtained might significantly exceed th�
<br />cost of insurance thaf 13orrowcr could h�ve obtained. Any amounts disburscd by Lender under this Section 5 shall become
<br />additional debt of Borrower secured by this Security Instrument. These amounis shall bcar interest at the Note rate f'rom the
<br />datc of disbursement and shall be payable, wilh such interest, upon notice fram Lender to E3orrower requesting payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br />disapprove such policics, shall include a standard mortga�e clause, and shall name Lender as mort�agee and/or as an additional
<br />loss payec. Lender shall have the right to hold the polici�s and renewal certificatcs. If Lender requir�s, Borrower shall promptly
<br />give to Lender all receipts of paid premiums and renewal noticcs. If Barrower obtains any form of insurance coverage, not
<br />otherwisc required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage
<br />clause and shall name Lender as mortgagec and/or as an additional loss payee.
<br />Tn the cvent of loss, Borrowcr shall give prompt notice to the iaisurancc carrier and Lendcr. Lcnder may makc proof of'
<br />loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agrce in writing, any insurance procecds,
<br />whether or not the underlying insurance was required by Lender, shall be applied to restoralion or repair of the Property, if'the
<br />restoration or repair is economically feasiblc and Lender's security is not lessened. Durin� such repair and restoraiion period,
<br />Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to
<br />cnsure the work has been campleted to Lender's satisCaction, provided that such inspection shall be undertaken promptly.
<br />Lender may disburse procceds for the repairs and restoration in a sin�le payment or in a scries of progress payments as thc
<br />work is complcted. Unless an agreement is made in writin� ar Applicable Law requires int�rest to be paid on such insurance
<br />proceeds, I,ender shall not be required to pay I3orrower any intcrest or earnings on such proceeds. Fecs for public adjustcrs, or
<br />other third parties, retained by Borrawer shall not be paid out of thc insurance procceds and shall be the sole obligalion of
<br />Borrower. It the restoration or repair is not economically feasible or Lendcr's security would be lessened, the insurance
<br />proceeds shall be applied to thc sums secured by this 5ecurity Tnstrument, whether or not then due, with the cxcess, if any, paid
<br />to Borrower. Such insurance proceeds shall be applied in the order �rovided far in Section 2.
<br />If f3orrower abandons ihe Property, Lender may file, negotiate and settle any available insurance claim and related
<br />matters. If Borrower does not respond within 30 days to a notice from �,ender that the insurance carricr 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. ln either event,
<br />or if Lender acquires the Property under Section 22 or otherwisc, Borrower hereby assigns to I,ender (a) Borrower's rights to
<br />flny insurance proceeds in an amount not to exceed thc amounts unpaid under the Note or this Security Tnstrumcnt, and (b) any
<br />other af Borrower's rights (other than ihe right to any refund of unearned premiums paid by Borrower) under all insurance
<br />palicies covcring the Property, insofar as such rights are applicable to thc coverage of lhe Property, Lender may use the
<br />insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument,
<br />whether or not then due,
<br />6. Occupancy. I3orrowcr shall occupy, cstablish, and use the Property as Borrower's principal residence within 60
<br />days after the execution of'this Security Instrument and shall continue to occupy the Property as Borrowcr's principai residence
<br />f'or at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be
<br />unrcasona6ly withheld or unless extenuating circumstances exist which are bcyond Borrower's control.
<br />NEBRASKA--Single Family--Funnie Mxe/Freddie Mac UNIFORM INSTRUMEN't'
<br />�� 33R.2 p��ge 5 nf 12 Furm 30Z8 I/111
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