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201103823
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<br />5. Property Insurance. Borrower shalI keep the�improvements now existing or hereafter erected on the Properiy •
<br />insured against loss by fire, hazards included within the term "extended coverage," and any other hazards inctuding, but not
<br />Iimited Eo, earthguakes and floods, for which T..ender requires insurance. This insurance shall be maintained in the amounts
<br />(including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding
<br />sentences can change duriag the term of the Lqaa. Tha insurance carrier providing the insurance shali be chosen by Bonrower
<br />subject to Lender's right to disapprove Borrower's choice, which right shalt not be exercised imreason�bly. Lender may require
<br />Borrower to pay, in connection with this Loan, eitlter. (a) a one-time oharge for flood zone determination, certification and
<br />trackine services; ar(b) a one-time charge for flood zone determinarion and certification services and subsequent charges each
<br />time remappings or similar changes occur which reasonahly might affect such determination or certification. Borrower shall
<br />also be r�sponsible for the payment of any fees imposed by the Federat Emergency Management Agency ia connection wif�
<br />the review of atty flood zone determiaation resultiag from an objection by Borrower. '
<br />If Borxower fails to maiatain any of the caverages described above, Lender may obtain insurance coverage, at
<br />Lender's option and Borrower's expense. I.ender is under no obligation to purchase any particular type or amount of coverage.
<br />Therefor�, such coverage shall cover Lender, but might or might not protect Bonower, Bonower's equity itt the Progerty, or
<br />the comtents of the 1'roperty, against any risk, hazard or liability and might provide greater or lesser covera.ge than was
<br />previeusly in effect. Borrower aclmnwledges that the cost of the in&urance coverage so obtained might significantly exceed the
<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 Instrumen� These amounts sha11 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 paymen�
<br />All insurance policies required by L• ender aad renewals of such policies shall be subject to Lender's right to
<br />disagprove such policies, shall include a standard mortgage clause, and shall name L,ender as mortgagee and/or as an additionel
<br />loss payee. Lender sha11 have the ri�ht to hold the policies and renewal certificates. If Lender requires, Bonower shall promptly
<br />give to Lender all receipts of paid premiums and renewal notices. If Borrower obtaaas any form of insurance coverage, not
<br />othezwise required by Lender, for aamage to, or @estruciion of, the Property, such policy shall include a standard mortgage
<br />clause and shall name Lender as mortgagee and/or as an additional loss payee.
<br />In the event of loss, Brnxower shall give prompt notice to the insurance caaier and Lender. Lender may make pzoof of
<br />loss if npt made promptly by Borrower. Unless Lender and Borrower otherwise agrae in writing, any insurance proceeds,
<br />whether or not the nnderlying insvrance was required by Lender, shalI be applied to restoration or repair of the Property, if the
<br />restoration or repair is economically feasible and Lender's aecurity is not lessened. During such rapair amd restoration period,
<br />Lender shall have the right to hold such instuence proceede until Lender has had an opportunity to inspect such 1'roperty to
<br />ensure the work has been completed to Lender's satisfaction, grovided that such inspection shall be undertaicea pramptly.
<br />Lender may disburse proceeds for the repairs end restpration in a single payment or in a series of progress payments as the
<br />work is completad. Unless an agreemeat is made in writing or Applicable T..aw requires interest to be paid on snch insurance
<br />proceeds, Lender shall not be requized to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or
<br />other third parties, retained by Bonower shatl not be paid out of the insurance proceeds and shall be the sole obligation of
<br />Bonower. If the restaration or repair is not eoonomically feasible nr Lender's security would be lessened, the insurance
<br />proceeds �shall be applied to the sums secured by this Security Instrumen� whether or not then due, with the excess, if any, paid
<br />ta Borrower. Such insurance proceeds sha1l be applied in the order provided for in Section 2.
<br />If Borxower abandons the Proparty, Lender may fi1e, negotiate and settIe any available insurance claim and related
<br />matters. If �orrower does not respond within 30 days to a aotice froxri Lender that the insurance carrier has offered to settle.a
<br />� claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event,
<br />or if Lender acquiras the Property tmder Section 22 or otherwise, Bonower hereby assigns to Lender (a} Borrower's rights to
<br />anY insnrance proceeds ia an amouat not to exceed the amounts unpaid under tha Note or this Security Instnunen� aad {b) any
<br />other of Borrower's rights {otizer than the night to any refund of unearned premiums paid by Borrower) under all insurance
<br />polioies covering the Properiy, insofar as such zights aze applzcable to the coverage of the Property. T,ender may use the
<br />insurence proceeds eitlaer to repair or restore the Property or to pay amounts unpaid under the Notc or this Seautity Instrument,
<br />whether ar not t1►en due. �
<br />' 6. Occupancy. Bonower shall occupy, establish; and use the Property as Borrower's principal residence within 64
<br />days after the axecution of this Security Instrument and shall continue to occupy the Property as Borrower's principal regiden�e
<br />for at least one year after the date of occupancy, unless Lender otherwise agraes in writing, which consent ahall not be
<br />unreasonably wi#hheld,.or unlass extenuating circum�tances exist which are beyond Borrower's control.
<br />NEBRA3KA—SingIe Family—Fannie Mae1k'reddie Mac UNIFORM INSTRUMENT
<br />� 338 . Page 5 of 12
<br />Form 3U281/U1
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