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201200798
<br /> AI] iusurance policies required by Lender and renewals of such policies sliall be subject to Lender's riglit to
<br /> disapprove sucli policics, shall i.nclude a sCandard mortgage clause, and shall name I�ender as mortgagee
<br /> and/or as an addiCional loss payee, Lender sliall have the right to hold rhe policies and re�ewal certificates. IP
<br /> Levdcr requires, Borrower shall promptly give to Lcndcr all receipts of paid premiums and renewal nolices.
<br /> if Borrower obtains any Form of insurEmce covorage, oot oU�erwise required by Lender, for damage to, or
<br /> destrucCion of, the Property, such policy shall include a sCandard mortga4ge clausc and shall name Lender as
<br /> mortgagee and/or as an addiCional Ioss payee.
<br /> In the event of]oss, Borrower shall give prompt notice to [he insurance carrier and Lender. Lender mtiy
<br /> make proof of loss iP not made promptly by Bocrower. UNess Lender and Rorrower othecwise ngree in
<br /> writir�g, any �nsurance proceeds, whether ox uot the underlyin� insurauc.e.was required by Lender, shall be
<br /> applied to restoxation or repair oP Che Peoperty, if the resCOration or repair is economically feasible and
<br /> Lender's security is not lessened. During such repair and iestoratron period, Lender sital! have Che right to
<br /> liold such insurance procaeds until I,ender has ]�ad an opportunity Co iospect sueh Prpperty to ensure tihe
<br /> work has been compleCed Co Lender's s2tisfaction, providcd that such inspecCion sl�all be undertaken
<br /> promptly. Lender may disburse proeeeds Por Che repairs and resCoration in a single payment or in a series of
<br /> progress payments as the work is completed. IDtless av agreement is n�ade in wriCing or Applieable Law
<br /> requires inteccsC Co be paid on sucli insurance proceeds, Lender shall not be required to pap Borrower any
<br /> interest or earnings on such proceeds. Fees for publio adjqsters, or pther Yflird parties, retaiiled by Borrower
<br /> sh�ll noY Ue paid out of Uie insurance proceeds and shall be the sole oUligation of Borrower. lf Ihe restoration
<br /> or repair is not economically Peasible or Lender's sacmlty would be lessened, thc insurance proeeeds shall be
<br /> applied to the sums secured by this Security Instrument, whether or noC Chen due, with the excess, if any,
<br /> paid W Borxower. Such insurance proceeds sliall be aipplied in the order provided Por in Section 2.
<br /> If Borrower a6andons Chc Properry, Lender may file, negoriate and setfle any available insurance claim.tnd
<br /> related matterc, 1P Rorrower does not respond witl�in 30 d�rys W a noCice Prom Lender Chat tlie insnrance
<br /> carricr has offered to settle a elaim, then Lender may negotiaCe and settle the elaim. The 30-day period will
<br /> begin when Clie notice is given. In eittter event, or iP I,endet acquires tlie Property ui�dex 3ection 22 or
<br /> otherwise, Borrower hereby assigns Co I.ender (a}Borrower's rights to any insurance pxoceeds in an amount
<br /> noC to exceed thc amounts unpaid under the Note or this Seeurity Instrument, and (b) a�y other of
<br /> Borrower's rights{oCher Chan tlie cigl�t to any refund of uncarned premiume paid by Ilorrower) under all
<br /> iusurance policies covcring Che Properry, insofar as sucli 1'iglits are.ipplicable to the coveraga of the
<br /> Property. Lendcr may use tlie insurance proceeds eitlier Co repair oc restore fhe Property or fo pay aniotmts
<br /> unpaid unclex fhe Note or this Seeurity Instrument, whether or noC fhen due,
<br /> 6. Oecupancy. Borrowec s6a11 oceupy, esCablisli, and use the Properfy as Borrower's principal residence
<br /> within 60 days after tlie execuYion of tliis Security Iiistrument and shall continue Co occupy Che Propetty as
<br /> Rora'ower's principal residence for at letist oue ycar afl�er Che date of occupancy, unless Lender otherwise
<br /> agrees in wiiCing, which coi�se¢t shall not be um�easonably witliheld, or unless extenuating circumstauees
<br /> exist wliich are beyond Bonrower's eontrol.
<br /> 7. Preservation, Maintenance and Protection of the Property; Inspections, Rorrower shall uot destroy,
<br /> damage or impair tlte Property, allow tl�e Pcoperty to deterioxate or commit waste on the Properry. Whether
<br /> or not Borrower is xesiding in tl�e Property, Borrowae shall mainYain the Property in�order to prevent the
<br /> ProperCy from deterior�iting or decreasing in value due to its condition. Unless it is deCCrnuned pursuanC to
<br /> Section 5 tli2t repair or restioration is not economically feasible, Boicower sh211 prornpCly repair the Propeity
<br /> if dam�ged to avoid furGieT deterioration or damage, If insurance or condemnacion proceeds are paid in
<br /> comiection with damage to, or the tlking of, the Property, Borrowcr shall be responsible for repairing or
<br /> resCoring lhe Property only if Lender l�as released procceds Por such purposes. Lender may disbuise prnceeds
<br /> 24000168
<br /> NEBFFlSKA-Sin{�le FainilY-KAi�nie Mee/Fredtlio Mac UNIFORM INSTBUMENT Form 3028 1101
<br /> VMP B VMPBMEI(�1061
<br /> Wolters Klw�er flnancial Servioes Pena]of IJ
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