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2U1200759
<br />All �nc,�rance 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, Borrower shall promptly give to Lender all r�;eipts 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 />mortgag� and/or as an additional loss payee.
<br />In the event of loss, Bonower shall give prompt notice to the �n�,�nce carrier and Lender. Lender may
<br />make proof of loss if not made promptly by Bonower. Unless Lender and Bonower otherwise agree in
<br />writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be
<br />applied to r�toration or repair of the Property, if the restoration or repair is economically feasible and
<br />Lender's securily is not lessened. During s�h repair and restoration period, Lender shall have the right to
<br />hold such insurance proce�s until Lender �as had an opportunity to inspect such Properiy to ensure the
<br />work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender may disburse proceefls for the repairs and restoration in a single payment or in a series of
<br />progress payments as the work is complet�. Unless an agreement is made in writing or Appiicable Law
<br />requires interest to be paid on such insurance proceeds, Lender shall not be r�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 insurance proceeds and shall be the sole obligation of Bonower. If the restoration
<br />or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the sums secure� by this S�urity Instrument, whether or not then due, with the excess, if any,
<br />paid to Borrower. Such �n�,�,�nce procceds 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 matters. If Bonower does not respond within 30 days to a notice from Lender that the �n��*�ce
<br />carrier has offereri to settle a claim, then Lender may negotiate 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�tion 22 or
<br />otherwise, Borrower hereby assigns to Lender (a) Bonower's rights to any insurance proce�ds in an amount
<br />not to exceed the amounts unpaid under the Note or this S�urity Insmunent, anrl (b) any other of
<br />Bonower's rights (other than the right to any refund of unearned premiums paid by Bonower) under all
<br />insurance policies covering the Property, insofar as such rights are applicable to the coverage of the
<br />Progerty. Lender may use the insurance proceeds either to repair or reStore the Progerty or to pay amounts
<br />unpaid under the Note or this S�urity 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 Instrument and shall continue to occupy the Property as
<br />Bonower's principal residence for at least one year after the date of occupancy, unless Lender othsrw�se
<br />agrees in wriring, which consent shall not be unreasonably withheld, or unl�.ss extenuating circumsra�oes
<br />exist wluch aze beyond Borrower's control.
<br />7. Preservatiore, Maintenance and Protection af the Property; Inspections. Bonower shall not d�roy,
<br />damage or iffipair the Property, allow the Pa�o,perty to deteriorate or commit waste on the Property. Whether
<br />or not Borrower is residing in the Properly, �orrower shall maintain the Property in order to prevent the
<br />Property &om deteriorating or d�reasing in value due to its condition. Unless it is determined pursuant to
<br />Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property
<br />if damaged to avoid fiuTher deteriorarion or damage. If insurance or condemnation proceeds are paid in
<br />conn�tion with damage to, or the taldng 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 Form 3028 1/Ot
<br />VMP � VMPB�NE) i1105)
<br />Wolters Kluwer Financial Services Page 7 of 17
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