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2012006i0
<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 addirional loss payee. I.ender shall have the right to hold the policies and renewal certificates. If
<br />Lender requires, Bonower shall promptly give to Lender all receipts of paid premiums and renewal noric�s.
<br />If Bonower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or
<br />d�trucrion of, the Properly, such policy shall include a standard mortgage clause and shall name Lender as
<br />mortgagee and/or as an additional loss paye,e.
<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 Borrower. Unless Lender and Bonower otherwise agree in
<br />writing, any inc��rance 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 ec;onomically feasible and
<br />Lender's se,curity is not lessened. During such repair and restorarion period, Lender shall have the right to
<br />hold such insurance proc.eeds until Lender has had an opportunity to insp�t 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 agreement is made in �vriting or Applicable Law
<br />requires interest to be paid on such insurance proceeds, Lender shall not be require� 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 insurance procceds and shall be the sole obligation of Bonower. If the restoration
<br />or repair is not ec;onomically feasible or Lender's security would be lessened, the insurance procee�s shall be
<br />applied to the sums s�ured by this Securiry Instrument, whether or not then due, with the excess, if any,
<br />paid to Bonower. Such insurattce proceeds shall be applied in the order provided for in S�tion 2.
<br />If Bonower abandons the Property, Lender may file, negotiate and settle any available insuranc� claim and
<br />related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance
<br />carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day periad �+ill
<br />begin when the norice is given. In either event, or if Lender acquires the Property under Section 22 or
<br />otherwise, Bonower hereby assigns to Lender (a) Bonower's rights to any insurance proceeds in an amount
<br />not to exceed the amounts unpaid under the Note or this Security Instrumeni, and (b) any other of
<br />Borrower's rights (other than the right to any refund of uneatne� premium,c paid by Bonower) under all
<br />insurance policies covering the Properly, insofaz as such rights are applicable to the coverage of the
<br />Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts
<br />unpaid under the Note or ttus Security Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Bonower's principal residence
<br />within 60 days after the execution of this S�urity Instrument and shall continue to occupy the Property as
<br />Borrower's principal residence for at least one year after the date of occupancy, unless Lender othen�+ise
<br />agr�s in writing, which consent shall not be unreasonably withheld, or unl�ss �xtenuating circumstan�s
<br />exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Bonower shall not destroy,
<br />damage or impair the Properly, allow tha Property to deteriorate or commit waste on the Property. Whether
<br />or not Borrower is residing in the Properly, Bonower shall maintain the Property in order to prevent the
<br />Properly from deteriorating or decreasing in value due to its condirion. Unless it is determined pursuant to
<br />Section 5 that repair or restoration is not �:onomically 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, Bonower shall be responsible for repairing or
<br />restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceEds
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />VMP �
<br />Wolters Kluwer Financial Servic�
<br />Form 3028 1/01
<br />VMPBINE) (1105)
<br />Pape 7 of 17
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