201100492 - Laserfiche WebLink

Browse

2a1iQ��9� Borrower shall promptly discharge any lien which has priority over this Security Instxument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable ta L.ender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enfarcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the halder of the lien an agreement satisfactary to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a noCice identifying the lien. Within 10 days of the date on which that notice is given, $orrower shall satisfy the lien or take one or more af the actions set farth above in this Section �l. L.ender may require Borrower to pay a one-time charge for a real estate tax veri�cation and/or reporting service used by I,ender in connectian with this Loan. 5. Property Insurance. Borrower shall keep the improvernents now exisCing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but nat limited to, earthquakes and floods, for which Lender requires insurance. T'his insurance sha11 be maintained in the amounts (including deductible levels) and for the periods that L.cnder requires. What L.ender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance sha11 be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender rnay requiare Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certi�cation 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 reasonably might affect such determination or certification. Borrower shall also be responsible for the payrnent of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting frorn an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at L.ender's option and Barrower's expense. Lender is under no obligation to purchase any particular type or arnount of coverage. Therefore, such coverage shall cover I.ender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazazd or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any arnounts disbursed by L.ender under this Section 5 shall become additional debt of Borrower secured by this Security Instrur►�ent. These amounts shall bear interest at the Note rate from the date of disbursernent and shall be payable, with such interest, upon notice from I.ender to Borrawer requesting payment. All insurance policies required by Lender and renewals of such policies shall b� subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name L,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, Sorrower 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, for damage to, or destruction of, the Property, such policy sha11 include a standard mortgage clause and shall narne Lender as rnortgagee and/or as an additional loss payee. Tn the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of lass if not made prornptly 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 ta 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 shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the NEBRASKA - 5ingle Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT �-6��IE) (08111 Pege 6 of 15 Initials: � .- C �C r Form 3 1 /01