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201104271
<br />one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood
<br />zone determination and certification services and subsequent charges each time remappings or similaz changes occur
<br />which reasonably might affect such determination or certification. Bonower shall also be responsible for the
<br />payment of any fees imposed by the Federal Emer�ency Management Agency in connection with the review of any
<br />flood zone determination resultmg from an objechon byBonower.
<br />If Borrower fails to maintain any ofthe coverages described above, Lender may obtain insurance coverage,
<br />at Lender's option and Bonower's expense. Lender is under no obligation to purchase any particulaz type or amowrt
<br />of coverage. Therefore, such coverage shall cover Lender, but miglit or might not �rotect Bonower, Borrower's
<br />equity in the Properiy, or the contents of the Property, against any risk, hazard or liabihty and might provide greater
<br />or lesser coverage than was previously in effect. Borrower acknowledges that the cost ofthe insurance coverage so
<br />obtained might significantly exceed the cost of insurance that Borrower could have obtained. A�amourits disbursed
<br />by Lender under this Section 5 shall become additional debt ofBorrower secured by this Secunty Insmzment These
<br />amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest,
<br />upon notice from Lender to Borrower requesting payment.
<br />All insurance olicies required b Lender and renewals ofsuch policies shall be subject to Lender's rightto
<br />disap�rove such policies, shall include a st mortg e clause, and shall name I.ender as mortgagee and/or as an
<br />additional loss payee. Lender shall have the right to hol�the policies and renewal certificates. IfLender reyuires,
<br />Borrower shall promptly give to Lender a11 recei�ts ofpaid prem�ums and renewal notices. IfBonower obtains any
<br />form of insurance coverage, not otherwise required by Lender, for damage to, or destruction o� the Pro�erty, such
<br />policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an addit�onal loss
<br />payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may
<br />make proof of loss if not made promptly by Bonower. Unless Lender and Borrower otherwise agree in writing, any
<br />insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration
<br />or repair of the Property, if the restoration or repa�r is economically feasible and I.ender's secunty is not lessened.
<br />During such repair and restoration period, I.ender sha11 have the right to hold such insurance proceeds until I.ender
<br />has had an opportunity to inspect such Property to ensure the work has been completed to Lznder's satisfaction,
<br />provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and
<br />restoration in a single payment or in a series ofprogress payments as the work is completed. Unless anagreemerrt is
<br />made in writing or Applicable Law requires mterest to be paid on such insurance proceeds, Lender shall not be
<br />required to pay Bonower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties,
<br />retamed byBonower shall not be paid out ofthe insurance proceeds and shall be the sole obligation ofBorrower. If
<br />the restorat�on or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds
<br />shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, ifany, paid
<br />to Bonower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />ffBonower abandons the Properiy, Lender may file, negotiate and settle any available insurance claim and
<br />related maiters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the
<br />notice is given. In either event, or if Lender acyuires the Properiy under Section 22 or otherwise, Borrower hereby
<br />assigns to Lender (a) Borrower's rights to any msurance proceeds m an amount not to exceed the amounts unpaid
<br />under the Note or t�iis Security Instrument, and (b) any other ofBorrower's rights. (other than the ri�t to any refund
<br />of unearned premiums paid by Bonower) under all insurance policies covenng the Property, inso as such rights
<br />are applicable to the coverage ofthe Property. Lender mayuse the insurance proceeds erther to repair or restore the
<br />Property or to pay amounts unpaid under the Note or this Security Iristrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
<br />within 60 days after the execution ofthis Security Instrument and shall continue to occupythe Properiyas Bonower's
<br />principal residence for at least one year after the date
<br />of occupancy, unless I.ender otherw�se agrees in writing, which consent shall not be unreasonablywithheld, or unless
<br />extenuatmg cucumstances exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Bonower shall not
<br />destroy, damage or impair the Property, allow the Properiy to deteriorate or commit waste
<br />on the Property. Whether or not Borrower �s residing in the Property, Bonower shall maintain the Properiy in order
<br />to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined
<br />pursuant to Section 5 that repair or restoration is not economically feasible, Bonower shall promptly repair the
<br />Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds aze paid in
<br />connection with damage to, or the taking o� the Property, Bonower shall be responsible for repainng or restoru�g the
<br />Propert� only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and
<br />restoration in a single payment or in a series of �rogress payments as the work is completed. If the insurance or
<br />condemnation proceeds are not sufficient to repau or restore the Property, Bonower is not relieved of Borrower's
<br />obligation for the completion of such repair or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections ofthe Property. If it has reasonable
<br />cause, Lender may inspect the interior ofthe improvements on the Property. Lender shall give Bonower notice atthe
<br />time of or prior to such an interior inspection specifying such reasonable cause.
<br />8. Borrower's Loan Application. Bonower shall be in default i� during the Loan application process,
<br />Borrower or any persons or entities acting at the direction of Borrower or with Bonower's knowledge or consent
<br />gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with
<br />material information) in connection with the Loan. Material representations include, but are not limited to,
<br />representations concerning Bonower's occupancy of the Properiy as Bonower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If
<br />(a) Borrower fails to perform the covenants andagreements contamed in this Security Instrument, (b) there is a lepal
<br />proceeding that migtit significantly affect Lznder's interest in the Property and/or rights under this Secunty
<br />Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien
<br />which may attain priorrty over th�s Security Instrument or to enforce laws or regulations�, or (c) Borrower has
<br />abandoned the Property, then Lender may do and pay for whatever is reasonable or appropnate to protect Lender's
<br />interest in the Properiy and rights under this Security Instrument, includin� protecting and/or assessmg the value of
<br />the Property, and secwing and/or repairing the Property. Lender's achons can include, but are not lunited to:
<br />(a) paymg any sums secured by a lien which has priorrty over this Security Instrument; (b) appearing in court; and
<br />(c) payuig reasonable attomeys' fees to �rotect rts mterest in the Property and/or rights under this Security
<br />Instrument, including its secured position m a bankruptcy proceeding. Secunng the Properiy includes, but is not
<br />limited to, entering the Properiy to make repairs, change locks, replace or boazd up doors and wu►dows, drain water
<br />from pipes, eliminate build'mg or other code violations or dangerous conditions, and have utilities turned on or of�
<br />Althou�h Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or
<br />obli�ation to do so. It is agreed that I.ender incurs no liability for not taking any or all actions authorized under this
<br />Sect�on 9.
<br />NEBRASKA—Single Family—Fannie MaelFreddie Mac iJNIFORM INSTRiJMENT Modified Form 3028 1/Ol (page 4 of 8 pagesJ
<br />22050.CV (9/09) 03-I 174 CreaHve Thinldng, Inc.
<br />GOTO(0027t29d)
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