201109852 - Laserfiche WebLink

Browse

�� wark has been complete� to Lender' s satisfaction, providad tbat such inspection shall be undertaken promptly. I,ender may disburse proceeds far 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 inte�rest to be paid on such insarance proceeds, Lender shall not be required to pay Bonower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Bonower shall not be paid out of the insurance praceeds and shall be the sole obligdtion of Borrowec. If the restoration or repair is not ei;onomically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums se�urerl by this Se�urity Instrument, whether or not then due, with the excess, if any, paid to Bonower. Such insurance proce,�s sha11 be applied in the order provided for in Se�tion 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurancx claim and related matters. If Bonower does not respond within 30 days to a notice fram Lender that the insurance cazrler has offere� to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will hegin when the notice is given. In either event, or if Lender acquires the Property under S�tion 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 ttris Se�urity Instr�ment, and (b) any other of Borrower' s rights (other than the right to any refimd of uneatned premiums paid by Bonower) under all insurance policies covering the Property, insofar as such rights aze applicable to the covera.ge 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 Sacurity Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, �stablish, and use the Property as Borrower's principal residence within 60 days after the exe�ution of this Security Instrument and shall cflntinue to oceupy the Property as Boirower' s principal residence for at least one ye,ar after the date of occupancy, unless Lender othervvise agrees in writing, which consent shall not be unr�sonably withheld, or unless axtenuating circumstances exist which are beyond Bonower' s control. 7. Preservation, Maintenance and Protecl3on of the Property; Inspecbions. Borrower shall not destroy, dunage or impair the Property, allow the Property to deteriorate or commit waste on the Property, Whether or not Borrower is residing in the Property, Bonower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursusat to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damage� to avoid further deterioration or damage. If insuranc� or condemnation proceads are paid in conneckion with darnage to, or the taking of, the Properly, Bonower shall be responsible for repairing or re,gtoring the Property only if Lender bas releasefl proceeds for such purposes. Lender may disburse proceeds for the regairs and r�storation in a single payment or in a series of progcess payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Prope�ty, Barrower is not relieved of Bonower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspe�t the interior of the improvements on the Properiy. Lender shall give Borrower notice at the time of or prior to such an interior inspection spec;ifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan applir,dtion pracess, Banower or any persons or entities acting at the dire�tion of Bonower or with Borrower' s knowledge ar consent gave materially false, misleading, or inaccUrate information or statements to Lender (or failetl to provide Lender with material information) in conne�tion with the Loan. Material representations include, but are not limited to, representations concerning Bonower' s occupancy of the Properiy as Borrower' s principal residence. 2200209563 D V6ANE NEBRASKA - Single Family - Fannle Mae/Freddle Mac UNIFORM INSTRUMENT WIT MERS �-6A(NE� toa�oJ PaeB 7 of 16 i„�e�: � Form 3028 1/07 �