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201109471
<br /> All insurance policies required by Lender and renewals of such policies shall be suUj ect to Lender's right to
<br /> dis�pprove such policies, sha11 include a standard mortgage clause; and shall n�ine Lender as mortgagee
<br /> and/or as an additional loss payee. Lender shall have tlie rigllt to hold tlie policies and renewal certificates. If
<br /> Lender requires, Borrower shall promptly give to Lender all receipts of paid premiuii�s�nd renewal iiotices.
<br /> IF Borrower obtains any forrn of insura�ce coverage, not otherwise rec�uired by Lender, for d�inage to, or
<br /> destructioi�ot', the Property, suc11 policy sha11 include a stancla�'d inortgage clause ancl shall na�i�e Lender as
<br /> mortgagee and/oi•as 1n�dditional loss payee.
<br /> In the event of loss, Borrower sh�ll give prompt notice to the insurance carrier and Lender. Lender may
<br /> malce proof of loss if not made promptly Uy Borrower. Unless Lender and Borrower otherwise agree in
<br /> writing, any insurance proceeds, whether or not tlze underlying insurance was reqttired by Lender, shall Ue
<br /> applied to restoration or repair of the Property, if the restoration or repair is econoinica-11y feasible and
<br /> Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to
<br /> hold sucli iilsurTnce proceeds until Lencler has h1d an opportunity to inspect such Property to ensure t11e
<br /> worlc has been coinpleted to Lender's satisfaction, provided that stich inspection sliall l�a undertalcen
<br /> proinptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a sei�ies of
<br /> progress payinents as the worlc is completed. Unless an agreeinent is mlde in wi�iting or Applicable Law
<br /> iequii•es interest to be paid or1 sucli insui��nce proceeds, Lender shall not Ue required to pay Borrower any
<br /> iilterest or earnings on such proceeds, Fees lor ptiiUlic ldjtisters, or other third parties, retained by Borrower
<br /> sl�all not Ue paid out of the insuranoe proceeds and shall Ue the sole obligation of Bort•owei•. If the restoration
<br /> or repair is not ecoiionucally feasivle or Lencier's security would be lessened, the insurance proceeds shall be
<br /> applied to the sums secured by tliis Security Instruineiit, whether or�zot then due, with the excess, if any,
<br /> paid to Borrower, Such insurance proceeds s1�a11 be ap�Tiecl in the order provided for in Sectioix 2.
<br /> TF Borrower abandons the I'roperty, Lender may�le, negotiate a�ld settle any available insuran¢e claiin and
<br /> related matters. If Borrower•does not respond within 30 da.ys to a notice from Lender thlt tlie insurance
<br /> carrier lias offered to settle a claim, then Lender inay liegotiate and settle the claiin, 'The 30-day period will
<br /> begin when the iiotice is given. In eitlier event, or if Lender acquires the Property under Section 22 or
<br /> otherwise, Borrower hereby assigns to Lender(a)Borrower's rights to any insurance proceeds in a1i amoui�t
<br /> 11ot to exceed the aznounts unpaid under the Note or this Security Instrtuilent, and(b) a�1y otller of
<br /> Borrower's rights (other than the riglit to any refiuld of unearned premiums paid by Borrowei•)under all
<br /> insurance policies covaring the Property, insoLar as suoh rights are applicaUle to the coverage of the
<br /> Property. Lender m�y use the insurance proceeds either to re�air or restore the Property or to pay lmounts
<br /> unpaid ttnder the Note or this Security Instrument, whether or not then due.
<br /> 6. Occupancy. Borrower shail occupy, establish, and use the Property as Borrower's principal residence
<br /> within 60 clays after the execution of this Security Instritment aiid shall coi�tinue to occupy the Property as
<br /> Borrower's principal residenco for at least one yea�•after the date of occupancy, unless Lender otherwise
<br /> agrees in writing, which consent shall not�a unreasonlUly withheld, or ui�less extenuatii�g circumstances
<br /> exist whicli are beyoiid Borrower's control.
<br /> 7, Preservation, Maintenance and Protection of the Property; Inspections. Borrower sh�ll not destroy,
<br /> damage or iinpair the Property, a11aw the Property to cletieriorate or corrur�it wasEe on the Pro�aerty. Whetlies•
<br /> or not Bo1°rower is residing in the Property, Bo�•rower shall m�intlin the Property in order to prevenL tlie
<br /> Property froin deteriorating or decreasing in value due to its coneiition. Unless it is determined pursuaiit to
<br /> Section 5 that repair�or restortition is not econoi�ically feasible, Borrower sha11 promptly repair tlie 1'roperty
<br /> if damaged to avoid fiirther cleterioratioil or daulage, Tf insuranoe or condamnation proceeds a�•e p�id in
<br /> corniection with d�mage to, or the talcing of, the Property, Borrower shall Ue res�onsible�or repairing or
<br /> restoring the Property only if Lender has releasecl proceeds for such�urposes. Lender may disUurse proceeds
<br /> 231235
<br /> NEBRASKA-Single Fam ily-Fannie M ae/Freddle M ac UNIFORM INSTRUM ENT Form 3026 1/01
<br /> VM P O VM P6(NE)(1105)
<br /> Wolters Kluwer Financial Services Page 7 of 17
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