201102785 - Laserfiche WebLink

Browse

201f02�� Borrower 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 perfornung such agreement; (b) contests the lien in good faith by, or defends agai.nst enforcement 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 holder of the lien an agreement satisfactory to Lender subordinating the Iien to this Security Instnunent. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrurnent, 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. L.ender may require Borrower to pay a one'-time charge for a reai estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements nc�w existiBg or hereafter erected on the Property insured against Ioss by fire, hazards iiacluded within the tc�rm "extes�ied coverage, " and any other hazards including, but not limited to, earthquakes and fioc�ds, for which l.en�er rec�uires insurance. This insurance shall be maintained in the amounts (including ded�uctibEe Ievels) and for the periods that Lender requires, What Lender requires pursuant to' the preceding s�cet�es cau e�ange during the term of the I.oan. 'I'he insurance carrier providing the inswrance shali be chc�se�e by Barrower subject ta Lender's right to disapprove Borrawer's choice, which right sha11 nat be exercised �nably. Lender may require Borrower to pay, in conrrection with this Loan, either: �a) a aa�e-time charge for floa� zone determination, certificatio� ar�d tracking services; or (b) a orie-time c�arge for �avd zo� determinatian and cer[ification s�rvices and sutrsequent charges each time rema�rpi�gs or si�niiar c�ges cicc�r which reasonabIy might a�ect stu�h cietermination or certification. Borr€�wer � aIsQ be responsible far the payment of auy fces i�ss�d by itie Federal Emergency Management Agency in comieetion with the review of �ny f�aod u�ne determination resulting from an objection by Borrawer. If Barrowter fails to n�raintain any of the coverages described above, Lender may obtain insttrxrcce coverage, at I.ender's c�ion and Borrower's expense. Lender is under no obligation to purchase any particular type c�r ar�olant o� caverage. Therefore, such coverage sha11 cover Lender, but might or might not protect Borrower, Borrower's equity in the Praperty, or the contents of the Property, against any risk, hazard or Iiability artd ffiight provide greater or lesser coverage than was previously in effect. Bc>rrower acknowledges t�tat �e e� af the insurance coverage so obtained might signifieantly exceed the cvst af insurance that Bormwer crouic� have obtained. Any amounts disbursed by Lexu�er wzcter this Section 5 shaii become additionai debt of Hc�rrawer securect by this Security Instrument. 'Fhesse amounts shali beaz interest at the Note rate from the ctate of disbursement and shall be payab�e, with s�ze� interest, upon notice fram Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of sueh polieies sh�I be sub1�t to Lender's right to disapprove such policies, shali include a standard mortgage eia�se, aud shaIl name Lender as mortgagee and/ar as an additional loss payee. Lender shall have the right to halc£ the policies and renewat certificates. If Lender requires, Borrower shall promptly give to Lex�der ali receipts af paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, nat otherwise rec}uired by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Bonower shall give prompt notice to the inswrance carrier and Lender. Lender may make proof of loss if not made promptly by Bonower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall he 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 repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has hacl an opportunity to inspect such Property to ensure the NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNtFORM INSTRUMENT �-6(NE► (o8tti Page 6 of �5 Initials: Form 3028 1/01 m �� GL� ` � ��