201100484 - Laserfiche WebLink

Browse

�� Borrowex 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 manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in L.ender's opinion aperate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreernent satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that at�y part of the Property is subject to a lien which can attain priority over this Security Tnstrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by T...ender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Pz'operty insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited ta, earthquakes and floods, for which Lender requires insurance. This insurance sha11 be maintained in the amounts (including deductible levels) and far the periods that Lender 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 $orrower's choice, whzch right shall not be exercised unreasonably. L.ender may require Bonower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certificatian and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasanably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergeancy Management Agency in connection with the review af any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages describ�d above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover I,ender, but znight or might not protect Borrower, Borrawer's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower aclrnowledges that the cost of the insurance coverage so obtained rnight significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrurnent. These amounts shall bear interest at the Note rate frorn the date of disbursement and shall be payable, with such interest, upon natice from L.ender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to I..ender's right to disapprove such policies, shall include a standard mortgage clause, and shall name I,ender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. IF Borrower obtains any form of insurance coverage, not otherwise required by Lender, far damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as rnortgagee and/or as an additional lass payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make praaf of loss if not made promptly by Borrower. Unless Lender and Borrower 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 repazr and restoration period, Lender shall have the right to hold such insurance proceeds until I.ender has had an opportunity to inspect such Property to ensure the NEBRASKA - Single Family - Fannia Mae/�reddie Mac UNIFORM INSTRUMENT �-B�NE) (0811) Page 8 of 15 inic�ais: �� Form 3b28 7lU7 � �