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201i09457 when the norice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instcvment, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occnpancy. Borrower shall occupy, establish, and use the Property as Bonower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Properiy as Borrower's principal residence for at least one year after the date of occupancy, unless Lettder otherwise agrees in writing, wluch consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Pro�erty; Inspections. Borrower shall not destroy, da.mage or impair the Property, allow the Property to detenorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Properiy in order to prevent the Property from deteriorating or decreasing in value due to its condirion. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with da.ma.ge to, or the ta.king of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed if the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restora.tion. Lender or its agent may make reasonable entries upon and inspections of the Properiy. If it has reasonable cause, Lender a�y inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan applica.rion process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's l�owledge or consent gave materially false, misleading, or inaccurate informa.tion or statements to Lender (or fa.iled to provide Lender with material information) in connection with the Loan. Material representations mclude, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protecl3on of Lender's Interest in the Property and Rights Under this Security Instrument If (a) Borrowerfails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal pmceeding that might significantly affect Lender's interest in the Properiy and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for conde�marion or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regularions), or (c) Borrower has abandoned the Property, then Lender ma,y do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing andlor repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasona.ble attomeys' fees to protect its interest in the Properiy and/or rights under tlus Security Instrument, including its secured posirion in a bankruptcy proceeding. Securmg the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and wmdows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under tlus Secrion 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon norice from Lender to Borrower requesting payment If tlus Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee ritle to the Property, the leasehold and the fee ritle shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Bonower shall pay the premiums required to ma.intain the Mortgage Insivance in effeck. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the �remiums for Mortgage Insurance, Borrower sha.11 pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substanrially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refunda.ble loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insiva.nce. If Lender required Mortgage Insurance as a condirion of ma.king the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maantain Mortgage Insurance in effect, or to provide a non refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the ra.te provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. NEBRASKA—Single Family--Fannie Mae/Freddie Mac UIVIFORM INSTRUMENT (MERS) Form 30281/Ol (page 5 of 9 pages) 12439.CV (9/11) 03-1215 Creative Thinldng, Inc. GOTO(002�a46)