201103229 - Laserfiche WebLink

Browse

20�10322� Bonower shall promptly dischazge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation s�ured by the lien in a manner acceptable to Lender, but only so long as Bonower is performing such agreement; (b) contests the lien in good faith by, or defends against 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 ate concluded; ar (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this 5ecurity Instrument. If Lender determines that any pazt of the Progerty is subje,ct to a lien which can attain priority over this Security Instrument, Lender may give Bonower 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 acrions 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 repoming service used by Lender in connection with this Loan. 5. Property Insurance. Borrower sha11 keep the improvements now existing or hereafter erected on the Progerty insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for v�laic�e Let�der requires insurance. 'F�his insurance shall be maintained in the amounts (including deduetc'bl� Ieveds) and fos the periods that L�der requires. What Lender requires pursuant to the preceding ser�teac�.s a� �nge during the term of the Loan. The insurance carrier providing the insurance shall be cho� by Borrower subj�t to Lender's right to disapprove Bvrrower's choice, which right shall not t� exere� �aEr�sonabty. Lender may require Borrower to pay, in connection with this Loan, either: (a) a oae ti� �harge for flood zone determinarion, certif cation and tracking services; or (b) a one-rinae c1a�t�ge for f[� zone determination and certification service,c and subsequent charges each time remappiggs or s�at ci�aag�.s axur which reasonably m�gh� �ed se�h ctetermination or certification. Borrawer �t� also � res�Onsible for the payment o� a�y fees nffiposed by the Federal Emergency Managemenx Age�cy in ro�ectian vvitfi the review of any IIerod �oae �mination resulting from an objection by Borrower. If Borro�r fa�s to �ntain any of the coverages described above, Lender may obtain lnc�►*�nce coverage, at Lenc�'s aption and Borrower's expense. Lender is under no obligatioa to purchase any particular type or amo�mt of coverage. Therefore, such coverage sha11 cover Lender, but might or might noC prot�t Borro�ter, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liabi�ity an� might grovide greater or lesser coverage than was previously in effe�ct. Borrower acknowledges t�t the cost of the insurance covera.ge so obtained might sigIIificantty exc�eci the cost of in.c��n� � g�� ,ve obtained. Any amounts disbursed by Lender under this Section 5 shall become additionai debt of Borrower secured by this Security Instivmeait. Ttaese amourns sfiatl bear interest at the Note rate from the date of disbursement and shall be payable, with suct� ixrterest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of suc}� �Iicies s�atI be subject to Lender's right to disapprove such policies, shall include a standatd mortgage ctat�se, and shall name Lender as mortgagee and/or as an additional loss payee. T ender shall have the rigfit to 1�� tfie policies and renewal certificates. If Lender requires, Borrower sha11 promptly give to Lencier a�F receRpts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherw�se required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee andJor as an additional loss payee. In the event of loss, Bonower shall give prompt notice to the insurance carrier and Lender. L,ender may make proof of loss if not made promptly by Borrower. Unless Lender and Bonower 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 L.ender's security is not lessened. Dnring such repair and restoration period, Lender shall ha.ve the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT �-6(NE) ros� n Page 6 of 15 in�u�: Form 3028 1/01 � , � . �� ��