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�0120043�
<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 L�nder as mortgagee
<br />and/or as an addirional loss payee. Lender shall have the right to hold the policies and renewal certificates. If
<br />I.ender requires, Bonower 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 />destrucrion 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 loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may
<br />make proof of loss if not made promptly by Bonower. Unless Lender and Bonower otherwise agr� in
<br />writing, any insurance proceeds, whether or not the underlying in�,�,�ance was required by Lender, shall be
<br />applied to restorarion or repair of the Property, if the restoration or repair is economically feasible and
<br />Lander's se�uriry is not lessened. During such repair and restoration period, L�nder shall have the right to
<br />hold such insurance procceds until L�nder has had an opporlunity to insp�t such Properry to ensure the
<br />work has b�n completed to I.ender's satisfacrion, provided that such insp�tion shall be undertaken
<br />promptly. Lender may disburse procee�s for the repairs and restoration in a single payment or in a seri�s of
<br />progress paymants as the work is completed. Unless an agreement is made in writing or Applicable La�v
<br />re�uires interest to be paid on such insurance proceeds, Lender shall not be re�uired to pay Borrower any
<br />interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower
<br />shall not be paid out of the inc�,rance proceeds and shall be the sole obligation of Borrower. If the restorarion
<br />or repair is not economically feasible or Lender's s�urity would be lessened, the insurance proceeds shall be
<br />applied to the sums se,cured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Bonower. Such insurance proceeds shall be appliefl in the order provided for in Section 2.
<br />If Borrower abandons the Property, I.ender may file, negotiate and settle any available insurance claim and
<br />related matters. If Bonower does not respond within 30 days to a notice from Lender that the insurance
<br />carrier has offerefl to settle a claim, then Lender may negoriate and settle the claim. The 30-day period will
<br />begin when the notice is given. In either event, or if Lender acquires the Property under Se�rion 22 or
<br />otherwise, Bonower hereby assigns to Lender (a) Borrower's rights to any insurance procceds in an amount
<br />not to exceEd the amounts unpaid under the Note or this Security Instrumern, and (b) any other of
<br />Borrower's rights (other than the right to any refund of unea.tned premiums paid by Bonower) under all
<br />insurance policies covering the Property, insofaz as such rights are applicable to the coverage of the
<br />Property. Lender may use the insurance proc.eeds either to repair or restore the Properiy or to pay amounts
<br />unpaid under the Note or this Securiry 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 S�urity Insmiment and shall continue to occupy the Properly as
<br />Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise
<br />agre�s in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances
<br />exist which are heyond Bonower's cornrol.
<br />7. Preservation, Maintenance and Protection of the Property; Inspectians. Bonower shall not destroy,
<br />damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether
<br />or not Bonower 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. Unless it is detertnined pnrcnant to
<br />Section 5 that repair or restoration is not e�onomically feasible, Bonower shall promptly repair the Property
<br />if damaged to avoid further deteriorarion or damage. If insurance or condemnarion proce�is are paid in
<br />conne�tion with damage to, or the taking of, the Property, Bonower shall be responsible for repairing or
<br />restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse procee�s
<br />NEBRASKA-Single Famlly-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />VMP � VMPB(NEI 11105)
<br />Wolters Kluwer Financial Services Pege 7 of 17
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