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20��096�� All insurance policies reyuired by Lender and renewals of such polici� shall be subject to Lender's right to disapprovc such policics, shall includc a standard mortgagc clausc, and shall namc Lcndc.v as mortgagcc and/or as an additional loss payee. Lender shall have the right to hold the policies und renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices_ If Borrower obtains any form of insurance coverage, not otherwise required by Lender, Cor damage to, or d�lruclion of, Ihe Properly, such pulicy shall include a slandard murigage clause and shall name Lender as ►nortgagee and/or as an additional loss payee_ In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherv✓ise agree in writing, any insurancc procc�ds, whcthcr or not thc undcrlying insurancc was rcquircd by Lcndcr, shall bc applied to restoration or repair of the Property, if the restoration or repair is ec:onomically feasible and Lender's security is not lessened. During such repair and re�toration period, Lender shall have the right to hold such insurance proceecis unlil Lende;r has had an opporlunity lo inspec:l such Properly lo entiure the work has been completed to Leader's satisfaction, provided that such insp�;tion shall be undertaken promptly. 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. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any intcrest or camings on such proccods. Fccs for public adjust��rs, or othcr third parti�s, rctai�cr3 by Bonowcr shall not be paid out of the insurance proceeds and shall be the solc obligation of Borrower_ If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be appliecl to the sums sei:ured hy this tiei:urity Instrument, whether ur not then due, wilh the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for ia Section 2. If Borrower abandons the Property, Lender inay file, negotiate and settle any available insurance claim and related matters_ If Bonower does not respond within 30 days to a notice from Lender that t6e insurance carrier has offered to settle a claim, lhen Lendc-r may negotiate and settle the claim. The 30-day period will bcgin whcn thc noticc is givcn. In cithcr cvcnt, or if Lcndct acquires thc Property undcr Scction 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 Instrumenl, and (b) any other of Borrower's rights (ulher thun the righl to any refund of un�rneci premiums paid by Botrower) under all insurance policies covering the Property, insofar as such rights are applicable to ihe coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Properly or to pay amounts unpaid under the Note or this Security Instrumcnt, whether or not then due. 6. OCCUpaI'ICy. Borrow�7 shall occupy, cstablish, and usc thc Property as Borrowcr's principal residcncc within 60 days aftet the exc�ution of this Security Instrument and shall continue lo occupy the Property as Bonower's principal residence for at least one year after the date of occupancy, unless Lender othetwise agre� in writing, which conaenl shall not be unre�a,�onably wilhheld, or unlesti extenualing circumtilances exist which are beyond Borrower's controL 7. Preservation, Maintenance and Protection ofthe Property; Inspections Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Bortower is residing in the Property, Borrower shall maintain the Property in order to prevent the Properiy from dctcriorating or dccrrasing in valuc duc to its condition. Unlcss it is dctcrmincd pursuant to Section 5 that repair or restoration is not economically feasible, Bonower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connec;lion with damage to, or the taking of, the Property, Borrower shall be r�ponsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds 1111023724 1111023724 N�RASKASingle Family-Fannie Mae/Freddie Mac UNIFORM INSTId1M�1T Fortn 3028 1/01 yry� p � VM PB(NE) (1105) Wolters Kluever Financial Savices Pa,�e 7 of 17