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201�02468
<br />fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and
<br />Borrower shall then be obligated under Section 9 to repay to Lender any sucl� amount. Lender may revoke the waiver as to any
<br />or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay
<br />to Lender all Fuuds, aud in such amounts, that are then required under this Seciion 3.
<br />Lender may, at any time, col(ect and hold Funds m an amount (a) sufficient to permit Lender to apply the Funds at tl�e
<br />time specified under RESPA, aud (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall
<br />estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items
<br />or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity
<br />(including Lender, if Lender is an institution whose deposits are so iusured) or in any Federal Home Loan Bank. Leuder shall
<br />apply the Funds to pay the Escrow Items no later tl�an the time specified uuder RESPA. Lender shall not charge Borrower for
<br />holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, u�iless Lender pays
<br />Borrower interest on the Funds and Apphcable Law permits Lender to make such a charge. Unless an agreement is made m
<br />writing or Applicable Law requires interest to be paid on the Funds, Lender sl�all not be required to pay Borrower any interest
<br />or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA.
<br />If there is a surplus of Funds l�eld in escrow, as defined under RESPA, Lender shall account to Borrower far the excess
<br />funds in accordance with RESPA. If there is a shortage of Fuuds held in escrow, as defined under RESPA, Leuder shall notify
<br />Borrower as required by RESPA, and Borrower sl�all pay to Lender the amount necessary to make up the shortage in
<br />accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds I�eld in escrow, as
<br />defiued under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amouut
<br />necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of all sums secured by this Securiry Instrument, Lender shail promptly refund to Borrower any
<br />Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the
<br />Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any,
<br />and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower
<br />shall pay them in the manner provided in Section 3.
<br />Borrower shall promptly discl�arge auy lien which has priority over this Security Instrument unless Borrower: (a) agrees
<br />in writing to the payment of the obligatiou secured by the lien in a manner acceptable to Lender, but only so long as Borrower
<br />is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lieu in, legal
<br />proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but
<br />only until such proceedings are concluded; or (c) secures from the l�older of the lien an agreement satisfactory to Leuder
<br />subordinating the lieu to this Securiry Instrument. If Lender determines that any part of the Property is subject to a lien which
<br />can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of
<br />tl�e 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
<br />Section 4.
<br />Lender may require Borrower to pay a one-time charge for a real estate ta�c verification and/or reporting service used by
<br />Lender in connection with this Loan.
<br />5. Property Insurance. Borrower shall keep the improvements 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 uot
<br />limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts
<br />(induding deductible levels) and far the periods that Lender requires. What Lender requires pursuaut to the preceding
<br />sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower
<br />subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may
<br />require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification
<br />and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent cl�arges
<br />each time remappings or similar cl�anges occur which reasonably might affect such determination or certification. Borrower
<br />shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Ageucy in connection
<br />with the review of any flood 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 Lender's
<br />option and Borrower's expense. Lender 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 PropeRy, or
<br />the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was
<br />previously in effect. Borrower acknowledges that the cost of t�e insurance coverage so obtained might significantly exceed tl�e
<br />cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become
<br />additional debt of Borrower secured by this Security Instrumeut. These amounts shall bear interest at the Note rate from the
<br />date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment.
<br />All insurance policies required by Lender and renewals of such policies sl�all be subject to Lender's right to disapprove
<br />such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee.
<br />Lender shall have the right to hold tl�e policies and renewal certificates. If Lender requires, Borrower shall promptly give to
<br />Lender all receipts of paid premiutns and renewal notices. If Borrower obtains any fortn of insurauce coverage, not otherwise
<br />required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and
<br />shalt name Lender as mortgagee and/or as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of
<br />loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds,
<br />whether or not the underlyiug insurance was required by Lender, shall be applied to restoration or repair of the Property, if the
<br />restoration or repair is ecouomically feasible and Lender's security is not lessened. During such repair and restoration period,
<br />Lender sl�all have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to
<br />ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly.
<br />Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the
<br />work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance
<br />proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or
<br />other third parties, retained by Borrower shall uot be paid out of the insurance proceeds aud shall be the sole obligation of
<br />Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance
<br />proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if auy,
<br />paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If Barrower abandons the Property, Lender may file, negotiate and settle any available insurauce claim and related
<br />matters. If Borrower does not respond witl�in 30 days to a notice from Lender that the insurance carrier has offered to settle a
<br />claim, then Lender may negotiate and settle tl�e claim. Tl�e 30-day period will begiu when the notice is given. In either event,
<br />or if Lender acquires the Property under Section 22 or otl�erwise, Borrower 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 Securiry Instrument, aud (b) any
<br />other of Borrower's rights (other than the right to any refund of unearned premiutns paid by Borrower) under all insurance
<br />�olicies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the
<br />msurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument,
<br />whetl�er or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days
<br />after the execution of this 5ecurity Instrument and shall continue to occupy the Property as Borrower's principal residence for
<br />at least one year after tl�e date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be
<br />unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control.
<br />NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT For 28 1/01
<br />Bankers Systems, Ine., St. Cloud, MN Form MD-1-NE Bl17/2000 (page 3 of 7 pagesJ
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