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�Oi�0117�
<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 additional loss payee. Lender 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 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 />mortgagee and/or as an addirional loss payee.
<br />In the event of loss, Bonower 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 agrce in
<br />writing, any insurance procceds, 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 e�onomically feasible and
<br />Lender's s�uriry is not lessened. During such repair and restoration period, Lender shall have the right to
<br />hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the
<br />work has b�n complete� to Lender's satisfacrion, provided that such inspe�tion shall be undertaken
<br />promptly. Lender may disburse proce�s for the repairs and restoration in a single payment or in a seri�s of
<br />progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law
<br />requires interest to be paid on such insurance proce�ds, Lender shall not be required to pay Bonower any
<br />interest or earnings on such proc�ds. Fe�s for public adjusters, or other third parti�s, retainefl by Bonower
<br />shall not be paid out of the insurance proce�s and shall be the sole obligarion of Bonower. If the r�toration
<br />or repair is not economically feasible or Lender's security would be lessened, the insurance procee�is shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the exc�ess, if any,
<br />paid to Borrower. Such insurance proc,eeds 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 insurance 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 period will
<br />begin when the notice is given. In either event, or if Lender acquires the Properiy under Section 22 or
<br />otherwise, Borrower hereby assigns to Lender (a) Bonower's rights to any in.c�,�nce proceeds in an amount
<br />not to exceed the aznounts unpaid under the Note or this Security Instrument, and (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 polici� covering the Properly, insofaz as such rights aze 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 this Security Instrument, whether or not then due.
<br />6. Occup�ncy. Borrower shall occupy, establish, and use the Property as Bonower's principal residence
<br />within 60 days after the execution of this Security Instru.ment 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 otherwis�
<br />agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances
<br />exist which aze l�yond �nower's control.
<br />7. Preservation, M�intenance and Protection of the Property; Inspectiar�s. Bonower shall not d�troy,
<br />damage or impair the Properly, allow the Property to deteriorate or commit waste on the Properry. Whether
<br />or not Borrower is residing in the Property, Bonower shall maintain the Property in order to prevent the
<br />Properiy from 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 ec;onomically feasible, Bonower shall prompfly repair the Property
<br />if damaged to avoid fiu�tkher deterioration or damage. If insurance or condemnarion procceds are paid in
<br />connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or
<br />restoring the Progerty only if Lender has released proceefls for such purposes. Lender may disburse procee�s
<br />NEBRASKA-Single FamUy-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />VMP �
<br />Wolters Kluwer Finenc(al Services
<br />Form aozs �ro�
<br />VMPB(NE) (1105)
<br />Page 7 of 17
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