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201109598
<br /> All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br /> disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee
<br /> and/or as an additional loss payee, Lender shall have the right to hold the policies and renewal certificates. If
<br /> Lender requires,$orrower shall promptly give to Lender all receipts of paid premiums and renewal notices,
<br /> If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or
<br /> destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as
<br /> mortgagee and/or as an additional loss payee.
<br /> In the event of 1oss, Borrower sha11 give prompt notice to the insurance carrier and Lender, Lender may
<br /> make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in
<br /> writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be
<br /> applied to restoration or repair of the Property, if the restoration or repair is economically feasible and
<br /> Lender's security is not lessened. During such repaii•and restoration period, Lender shall have the right to
<br /> hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the
<br /> work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
<br /> promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of
<br /> progress payments as the work is completed, Unless an agreeinent is made in writing or Applicable Law
<br /> requires interest to be paid oii such insurance proceeds, Lender shall not be required to pay Borrower any
<br /> interest or earnings on such proceeds. Fees for public adjusters, or other third pai�ties, retained by Borrower
<br /> shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower, If the restoration
<br /> or repair is not economically feasible or Leilder's security would be lessened, the insurance proceeds shall be
<br /> applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any,
<br /> paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2,
<br /> If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and
<br /> related inatters, If Borrower does not respond wi[hin 30 days to a notice frorn Lender tliat the insurance
<br /> carrier has offered to settle a claim, then Lender may negotiate and settle the claim, The 30-day period wi11
<br /> begin when the notica is given. In either 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 an amount
<br /> not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of
<br /> Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower)under all
<br /> insui•ance policies cavering the Property, insofar as such rights are applicable to the coverage of the
<br /> Property. Lender may use the insurance proceeds either to repair or restore the Propei•ty or to pay amounts
<br /> unpaid under the Note or this Security Instrument, 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 of this Security Tnstrument and shall continue to occupy the Property as
<br /> Borrower's principal residence for at least one year aftei°the date of occupancy, uliless Lender otherwise
<br /> agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances
<br /> exist�which are beyond Borrower's control,
<br /> 7. Preservation, Maintenance and Protection of the Property; Inspections. Boi•rowei•shall not destroy,
<br /> damage or impair the Property, allow the Property to deteriorate or commit waste on tha Property. Whether
<br /> or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the
<br /> Property from deteriorating or decreasing in value due to its condition, Uiiless it is determined pursuant to
<br /> Section 5 that repair or restoration is not econoinically feasible, Borrower shall promptly repair the Property
<br /> if damaged to avoid further deterioration or damage, If insurance or condemnation proceeds are paid in
<br /> connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or
<br /> restoring the Pi�operty only if Lender lias released proceeds for such purposes. Lender inay disburse proceeds
<br /> 231237
<br /> NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br /> VMP p VMP6WE)(1105)
<br /> Wollers Kluwer Flnanclal Sorvlces Page 7 of 77
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