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20�10449�
<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 be obligated under 5ection 9 to tepay to Lender any such amount. Lender may revoke the waiver as to any
<br />or all Escrow Items at any ttme by a notice given in accordance with Section 15 and, upon such revocation, Bocrower shall pay
<br />to Lender a11 Funds, and in such amounts, that are then required under this Section 3.
<br />Lender may, at any time, collect and hold Funds m an amount (a) sufficient to permit Lender to apply the Funds at the
<br />time spec�ed under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender sha11
<br />estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items
<br />or otherwise in accordance with A�plicable Law.
<br />The Funds shall be held m an institution whose de�sits are insured by a federal agency, instrumentality, or entiry
<br />(including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall
<br />apply the Funds to pay the Escrow Items no later tha.n the time spec�ed under RESPA. Lendet shall not charge Borrower for
<br />holding and applying the Funds, annually analyzing the escrow account, or vetifying the Escrow Items, unless Lender pays
<br />Borrower interest on the Funds and Applicable Law permits Leuder to make such a charge. Unless an agreement is made in
<br />writing or Applicable La.w requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest
<br />or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be patd on the Funds. Lender
<br />sha11 give to Borrower, without charge, an annua.l accounUng of the Funds as required by RESPA.
<br />If there is a sur�lus of Funds held in escrow, as defined under RESPA, Lender sha11 account to Borrower for the excess
<br />funds in accorda.nce with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender sha11 notify
<br />Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in
<br />accordance with RESPA, 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 RESPA, and Borrower shall pay to Lender the amount
<br />necessary to make up the deficiency in accorda.nce with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of a11 sums secured by this Security Instrument, Lender sha11 promptly refund to Borrower any
<br />Funds held by Lender.
<br />4. Charges; I,iens. Bonower shall pay all taxes, assessments, charges, fines, and impositions attributable to the
<br />Propecty which can aqain priority over this Security Instnunent, leasehold payments or ground rents on the Properly, if a�,
<br />and Communiry Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower
<br />shall pa them in the manner provided in Section 3.
<br />�onower shall 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 accepta.ble to Lender, but only so long as Bonower
<br />'rs performing such agreement; (b) contests the lien m good faith by, or defends against enforcement of the lien in, legal
<br />proceedings which in Lender's opinion o�rate 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 satisfactory to Lender
<br />subordinating the lien to this Security Instrument. If Lender determines that any part of the Properly is subject to a lien which
<br />can attain pnoriry over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of
<br />the date on which that notice is given, Borrower sha11 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 improvements now existing or hereafter erected on the Property
<br />insured against loss by �re, haza.rds included within the term "extended coverage," and any other hazards including, but not
<br />limited to, earthqua.kes and floods, for which Lender requires insurance. Tlus msurance sha11 be maintained in the amounts
<br />(including deductible levels) and for the �riods that Lender requires. What Lender requires pursuant to the pre.ceding
<br />sentences can change during the term of the Loan. The insurance canier providing the insurance shall be chosen by Bonower
<br />subject to Lender's right to disapprove Borrower's choice, which right sha11 not be exercised unreasonably. Lender may
<br />require Bonower to pay, in connection with this Loan, either: (a) a one-tune charge for flood zone determination, certif'ication
<br />and tracking services; or (b) a one-time charge for flood zone determinaiion and certif'ication services and subsequent charges
<br />each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower
<br />shall also be tesponsible for the payment of any fees imposed by the Fedetal Emergency Management Agency in connection
<br />with the review of any flood zone determination resulting from an ob�ection by Bonower.
<br />If Bonower fails to maintain any of the coverages described above, Lender ma.y obtain insurance coverage, at Lender's
<br />option and Bonower's expense. Lender is under no obligation to purchase any particular type or amount of coverage.
<br />Therefore, such coverage shall cover Lender, but might or might not protect Bonower, Borrower s equity in the Progerty, 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. Borrower acknowledges that the cost of the insurance coverage so obtamed might significantly exceed the
<br />cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under tlus Section 5 shall become
<br />additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the
<br />date of disbursement and shall be payable, with such interest, upon notice from Lender to Borcower requesting payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's nght to disapprove
<br />such policies, shall include a standard mortga�e clause, and shall name Lender as mortga�ee and/or as an additional loss payee.
<br />Lender shall ha.ve the right to hold the policies and renewal certif'icates. If Lender requires, Borrower sha11 prompfly give to
<br />Lender a1l receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise
<br />required by Lender, for damage to, or destruction of, the Property, such policy sha11 include a standa.rd mortgage clause and
<br />shall name Lender as mortgagee and/or as an additionalloss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender ma.y make proof of
<br />loss if not made promptly by Borrower. Ualess Lender and Bonower otherwise agree in writing, any insurance proceeds,
<br />whether or not the underlying insurance was required by Lender, sha11 be applied to restoraLion or repair of the Properiy, if the
<br />restoraxion or repair is economically feasible and Lender's securiry is not lessened. During such repau� and restoration period,
<br />Lender shall have the right to hold such insurance proceeds until Lender has had an opportuniry to inspect such Property to
<br />ensure the work has been completed to Lender's satisfaction, provided that such inspection sha11 be underta.ken prompdy.
<br />Lender may disburse proceeds for the repairs a.nd restoration in a single payment or in a series of progress payments as the
<br />work is completed. Unless an agreement is made in writing or Applicable La.w requires interest to be paid on such insurance
<br />proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or
<br />other tlurd parties, retained by Bonower sha11 not be paid out of the insurance proceeds and sha11 be the sole obligation of
<br />Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance
<br />proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Bonower. 5uch insurance proceeds sha11 be applied in the order provided for in Section 2.
<br />If Borrower abandons the Properiy, Lender may file, negotiate and settle any available insurance claim and related
<br />matters. If Bonower does not respond wrthin 30 days to a notice 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 Properiy under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to
<br />any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this 5ecurity Instrument, and (b) any
<br />other of Borrower's rights (other than the right to any refund of uneamed premiums paid by Borrower) under a11 insurance
<br />policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the
<br />insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument,
<br />whether or not then due.
<br />6. Occu�ancy. Bonower shall occupy, establish, and use the Property as Bonower's principal residence within 60 days
<br />after the execution of this Securiry Iastrument and shall continue to occupy the Property as Bonower's principal residence for
<br />at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be
<br />unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's wntrol.
<br />NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1l01
<br />Bankare Systeme, Inc., St. Claid, MN Form MD-1-NE 8/17/2000 (p¢ge 3 of 7 poages)
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