|
2011Q0494
<br />451020093
<br />Lender may require Borrower to pay a onc-time charge for a real estate tax verification and/or reporting service uscd
<br />k�y I,ender in connection with this Loan.
<br />5. Prpperty lnsurance. 13vrrowcr shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within thc tcrm "extended coverage," and any other hazards including, but not
<br />limited to, earthquakcs and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts
<br />(including deductiblc Icvcls) and for thc periods that Lender requires. What Lender requires pursuant to the preceding
<br />sentcnccs can change durrng the term of the I,oan. Thc insurance carrier providing the insurance shall be chosen by Borrowcr
<br />sub_ject to Lcndcr's right to disapprove Borrower's choice, which right shall not bc cxcrciscd unrcasonably. Lcndcr may rcquire
<br />Borrower to pay, in conncction with this Loan, either: (a) a one-time charge for flood zone deternaination, certification and
<br />tracking services; or (b) a one-time chargc for flood zone determination and certitication services and Subsequent charges each
<br />time re�r�appings or similar changes occur which reasonably might affect such determination or ecrtification. Borrvwcr shall
<br />also be responsible for the payment of any fees im�,osed by the Federal Emergency Management Agency in connection with
<br />the revicw of any flood zone determination xesulting from an objection by Borrower.
<br />if Rorrvwcr fails to maintain any of the covera�es describecl above, I.ender may obtain insurance coverage, at
<br />I,endcr's option and Borrower's expense. Lender is undcr no obligation to purchase any particular type or amount of coveragc.
<br />Therefore, such covcrage shall cover Lender, but might or might not protect L3orrower, Borrowcr's cquity in thc Property, or
<br />the contcnts of the Property, against any risk, hazard or liability and mi�ht provide greater or lesser covera�e than was
<br />previously in cffcct. Borrower acknowledges that the cost of the insurancc covcragc so obtaincd might significantly excccd thc
<br />cost of insurance that Borrowcr colild have obtained. Any amounts disbursed by Lender 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 the
<br />date pf disbursemcnt and shall be p�yable, with such interest, upon notice from Lendcr to 13orrower rcqucsting payment.
<br />All insurance policies required by Lcnder and renewals of such pnlicies shall he subject to Lender's ri�ht to
<br />disapprove such policics, shall include a standard mortgage clausc, and shall name Lender as mortgagce and/or as an additional
<br />Inss payce. Lender tihall have the right to hold thc policics and renewal certificates. If Lender requires, Borrower shall promptly
<br />give to Lender all teccipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not
<br />othcrwise required by T�ender, for damagc to, or destruction of, the Prpperty, such policy shall incltrde a standard mortgage
<br />clause and shall namc Lcndcr as mortgagee and/or as an additional loss payee.
<br />In tlic cvent of loss, Bprrower shall give prompt noticc to the insurance carrier and Lender. Lender may make proof of
<br />loss if not made promptly by F3orrowcr. Unless Lender and Borrower otherwise agree in writing any insurance proceeds,
<br />whether or not the underlying insurance was required by I,endcr, shall be applied to restoration or repair of the Property, if thc
<br />restoration or repair is economically fcasible and Lender's security is not lessened. During such repa'rr and restoration period,
<br />Lender shall havc the right to hold such insurance procccds 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 inspcction shall bc undcrtakcn promptly.
<br />I.endcr may disburse proceeds fot the repairs and restoration in a single payment or in a series of pro�ress payments as the
<br />work is completed. Unless an agreement is made in writing or Applicablc Law rcquires intcrest to be paid on such insurancc
<br />procccds, Lender shall not be required to pay Borrower any interest or earnings pn stich proceeds. Fees for public adjusters, or
<br />other third parties, retained by Borrower shall not be paid out of thc insurancc proceeds and shall be the sole obligation of
<br />Borrower. If the restoration or rcpair is not economically feasible or Lender's security would be lessened the insurance
<br />prc�ceeds shall be applied to the sums secured by this Sccurity Instrument whether or not then due, with the excess, if any, paid
<br />to Borrower. Such insurancc procccds shall be applied in the order provided for 'rn Section 2.
<br />If Borrower abandons the Property, Lendcr may filc, negotiate and settle any available insurance claim and related
<br />mattcrs. If Borrpwer does not respond within 30 days to a nptice from Lender that the insurance cartier has offered to settle a
<br />claim, thcn Lender may negotiate and settle the claim. Thc 30-day period will begin when the notice is �;iven. in either event,
<br />or if Lender acqurres thc Property under 5ection 22 pr otherwise, �3orrower hereby assigns to Lender (a) Borrower's rights to
<br />any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any
<br />other of Borrowcr's rights (other than the r'rght to any refund of uncarned premiums paid by Borrower) under all insurance
<br />policies covering thc Property, insofar as such rights are applicablc to thc covcragc of thc Property. Lcndcr may usc thc
<br />insurance proceeds either to repair or restore thc Property or to pay amnunts unpaid under the Note or this Security Instrument,
<br />whether or not thcn due.
<br />6. Occupancy. Borrower shall accupy, establish, and usc the Property as Borrowcr's principal residencc within 60
<br />days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence
<br />NEI3RASKA--Singlu Family--Fannie Mae/Freddie Mac UNIFORM INSTRUM�:N'f
<br />� 33R.2 Page S of 13 Form 30281/Ol
<br />� � �
<br />�� �
<br />V
<br />
|