|
20�104759
<br />Lender may require Borrower to pay a one-time charge for a real estate tax verification andlor reporting service used by
<br />- Lender in cannection with this Loan.
<br />5. Property Insurance. Borrower shall keep tbe improvements now existing or herea£ter erected on the Property
<br />insured against loss by fire, hazards included within the term "exte�ded coverage," and any other hazards including, but
<br />not limited to, earthquakes a.nd floods, for which Lender requires insurance. This insurance sha,ll be maintained in the
<br />amounts (including deductible levels) and for the periods tha.t Lender requires. What Lender requires pursuant to the
<br />preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance sha11 be chasen
<br />by Borrower subject to Lender's right to disapprove Borrower's chaice, which right shall not be exercised unreasona.bly.
<br />Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-fiime charge for flood zone
<br />determina,tion, certification and tracking services; or (b) a one-lime charge for flood zone determination and certification
<br />services and subsequent cha.rges ea.ch time remappings or similar changes occur which reasonably might affect such
<br />determination or certification. Bonower sha11 alsa be responsible for the payment of any fees impased by the Federal
<br />Emergency Management Agency in connection with the review of any fload zone determination resulting from an
<br />objection by Bonower.
<br />If Borrower fails to ma.intain any of the coverages described abave, Lender ma.y obtain insurance coverage, at Lender's
<br />option and Borrowar's expense. Lender is under no obligation to purchase any particular type or aanount of coverage.
<br />Therefore, such caveza.ge sha11 cover Lender, but might ar might nat protect Borrower, Bortowet's equity in the Property,
<br />or the contents of the Property, against any zisk, hazard or liability and might pravide greater or lesser coverage than was
<br />previously in effect. Borrower a.cknowledges that the cost of the insurance coverage so obtain.ed might significantly
<br />exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5
<br />shall become additional debt of Borrower secured by this Security Instrument These amounts shall bear interest at the
<br />Note rate from the date of dishursement aud shall be payable, with such interest, upon notice from Lender to Borrower
<br />requesting paymen�
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove
<br />such policies, shall include a standard mortgage clause, and sha.11 name Lender as mortgagee a.ndior as an additional loss
<br />payee. Lender sha.11 have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly
<br />give to Lender a11 receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage,
<br />not otherwise required by Lender, for damage to, or destntction of, the Properly, such policy shall include a standard
<br />mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of
<br />loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance praceeds,
<br />whether or not the underlying insura:nce was required by Lender, shall be applied to restoration or repair of the Property,
<br />if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration
<br />periad, Lender sha.11 have the right to hold such insurance proceeds until Lendez has had an opportuniiy to inspect such
<br />Property to ensure the work has been completed to Lender's satisfaction, provided that such inspectian shall be underta.ken
<br />promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress
<br />payments as the work is completed. Unless an agxeement is made in writing or Applicable Law requires interest to be
<br />paid on such insurance proceeds, Lender shall not be rec�uired to pay Borrower any interest or earnings on such pmceeds.
<br />Fees for public adjusters, or other third parties, retained by Borrower sha11 not be paid out of the insurance proceeds and
<br />sha.11 be the sole obligation ofBorrower. If the restoration or repair is not economically feasible or Lender`s security would
<br />be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whett�er or not then
<br />due, with the excess, if any, paid to Bonower. Such insurance proceeds shall be applied in the arder provided for in
<br />Section 2.
<br />If Borrower abandons the Property, Lender may file, negotiate a.nd settle any available insurance claam and related matters.
<br />If Banower does not respond within 30 days to a notice fram Le�der tha.t the insurance carrier has offered to settle a
<br />claim, then Lender may negotiate a.nd settle the claim. The 30-day periad vvill begin when the notice is given. In either
<br />event, or if Lender acquires the Property under Section 22 or otherwise, Bonower hereby assigns to Lender (a) Borrawer's
<br />HCFG-00359
<br />NEBRASKASingle Famiiy-Fannie Mae/Freddie Mac UNIFORM {NSTRUMENT Form 3028 1l01
<br />VMP�
<br />Woliera Kluwer Financial Servic� 2q1108174.0.0.0.4002-J20110224Y Pege 8 ot 93
<br />
|