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201�0410�
<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 � obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any
<br />or a11 Escrow Itelns at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay
<br />ta Lender all Funds, and in such amounts, that are then required under this Section 3.
<br />L.ender may, at any time, collect and hold Funds in an annount (a) sufficient to pertnit Lender to apply the Funds at the
<br />time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall
<br />estimate the amount of Funds due on the �asis of current data and reasonable estimates of expenditures of future Escrow Items
<br />or otherwise in accordance with A�plica.ble I,aw.
<br />The Fands shall be held in an institution whose deposits are insared by a federal agency, instrumentality, or entity
<br />(including Lender, if Lendet is an institution whose deposits are so insured) or iu any Federal Home Loaa Bank. Leader shall
<br />apply the Funds to pay Che Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for
<br />holding and applying the Funds, annua.11y ana.lyzing the escrow account, or verifying the Escrow Items, ualess Lender pays
<br />Borrower interest on the Funds and Applicable La.w permits Lender to make such a charge. Unless an agreement is made in
<br />writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Bonower any interest
<br />or earnings on the Fnnds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender
<br />sha11 give to Borrower, without charge, an annual accounting of the Funds as required by RESPA.
<br />If there is a sur�lus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess
<br />funds in accordance wrth RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify
<br />Borrower , as required by RESPA, � aud Borrower shall pay to Lender We amount necessary to make up the shortage in
<br />accordance with RESFA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as
<br />defined under RESPA, Lender shall notify Bonower as required by RE5PA, and Borrower shall pay to Lender the amount
<br />necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upou payment in full of all sums secured by this Security Instru,ment, Lender shall promptly refund to Borrower any
<br />Funds held by Lender.
<br />4. Charg�s; Liens. Bonower shall pay a11 taxes, assessments, charges, fines, and impositions attributable to the
<br />Properiy which can attain prioriry over this Security Instnunent, leasehold payments or ground rents on the Property, if any,
<br />and Communiry Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower
<br />sha11 pay them in the manner provided in 5ection 3.
<br />�orrower sha11 promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees
<br />in writing to the payment of the obligation 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 m good faith 6y, or defends against enforcenoent of the lien 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 holder of the lien an agreement sat�sfactory to Lender
<br />subordinating the lien to this Securiry Instrument. If Lender determines thai any part of the Property is subject to a lien which
<br />can attain prioriry over this Security Instrument, Lender may give Borrower a notice identifying the iten. Within 10 days of
<br />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
<br />Section 4.
<br />Lender may require Borrower to pay a one-time charge for a real estate tax verif'ication and/or reporting service used by
<br />Lender in connection with this Loan.
<br />5. Property Insurance. Borrower shall keep the unprovements now exisCing or hereafter erected on the Properry
<br />insured against loss by fire, hazards included within the term "extended covera�e," and any other hazards including, but not
<br />limited to, earthquakes and floods, for which Lender requires insurance. This msurance sha.11 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 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 />requtre Borrower to pay, m connection with this Loan, either: (a) a one-time charge for flood zone determinatian, certif'ication
<br />and tracking services; or (b) a one-time charge for flood zone determination and cert�cation services and subsequeat charges
<br />each time remappings or sunilar changes occur which reasonably might affect such determination or certif'ication. Borrower
<br />shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection
<br />with the review of any flood zone detetmination resulting from an objection by Bonower.
<br />If Borrower fails to maaintain any of the covera.ges described above, Lender may obtain insurance coverage, at Lender's
<br />aption and Borrower's expense. Lender is under no obligation to purchase any particular ty�e or amount of coverag,e:
<br />Therefore, such coverage sha11 wver Lender, but might or might not protect Borrower, Borrower s equity in the Property, 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. Botrower acknowledges that the cost of the insurance coverage so obta�ned might significandy exceed the
<br />cost of insurance thax Borrower could have obtained. Any amounts disbursed by Lender under this 5ection 5 shall become
<br />addidonal debt of Bonawer secured by this Securiry Instrument. These amounts shall bear interest at the Note rate from the
<br />date of disbursement and shall be payable, with such interest, ugon notice from I.euder to Borrower requesting payment.
<br />, All insurance palicies requued by Lender and renewals of such policies sha11 be subject to Lender's nght to disapprove
<br />such policies, shall include a standard mort�a�e clause, and shall name Lender as mortgagee and/or as an additional loss payee.
<br />Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall prompdy gtve to
<br />Lender all receipts of paid premiums and renewal notices. If Bonower obtains any form of insurance covetage, not otherwise
<br />required by Lender, for damage to, or destruction of, the Properry, such policy shall include a standa.rd mortgage clause and
<br />sha11 name Lendet as mortgagee and/or as an additionalloss payee.
<br />In the event of loss, Borrower sha11 give prompt notice to the insurance canier and Lender. Lender may make proof of
<br />loss if not made pramptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds,
<br />whether or not the underlying insurance was required by L.ender, shall be applied to restoration or repair of the Property, if the
<br />restoraCion or repair is economically feasible and Lender's securiry is not lessened. During such repa�r and restoration period,
<br />Lender shall 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 sat�sfaction, provided that such inspection shall be undertaken promptly.
<br />Lender may disburse proceeds for the repairs and restoration ia a single payment or �n 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 insuraace
<br />groceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fces for public adjusters, or
<br />other third parties, retained by Borrower sha11 not be paid out of the insurance proceeds and shall be the sole obltgation of
<br />Borrower. If the restoration or repair is not econrnnically feasible or L.ender's security would be _ lessened, the insurauce
<br />proceeds sha11 be applied to the sums secured by this 5ecur�ty Instrument, whether or not then due, with the excess, if auy,
<br />paid to Bonower. 5uch insurance proceeds shall be applied in the order provided for in 5ection 2.
<br />If Bonower abandons the Property, Lender may file, negotiate and settle any available insurance claun and related
<br />mauers. If Borrower does not respand within 30 days to a nottce from Lender that the msurance 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 acquires the Property uniier Section 22 or otherwise, Bonower hereby assigns to Lender (a) Bonower'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 Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance
<br />policies covering the Properly, insofar as such rights are applicable to the coverage of the Property Lender may use the
<br />msurartce proceeds either to repair or restore the Pcoperty or to pay amounts unpaid under the Note or th�s Security Instrument,
<br />whether or not then due.
<br />6. Occupancy. Bonower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days
<br />after the execution of this Secariry Instrument and sha11 continue to occupy the Property as Borrower's principal residence for
<br />at least one year after the date of occupancy, unless Lender otherw�se agrees in writing, which coasent shall not be
<br />unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control.
<br />NEBRASKA—Single Family—Fenrde Mae/Freddie Mac UNIFORM INSTRUMEN7 Form 3028 1/01
<br />Benkers Syatems, Irx., St. Clwd, MN Form MD-1-NE 8/17/2000 (page 3 0f 7 pagCS)
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