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20i20117�
<br />All inc,�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 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 pay�.
<br />In the event of loss, Borrower shall give prompt notice to the inc�,rance carrier and Lender. L�nder may
<br />make proof of loss if not made promptly by Borrower. Unless Lender and Bonower otherwise agr� in
<br />writing, any ?����nsp proc,eeds, whether or not the underlying insurance was required by Lender, shall be
<br />appliefl to restoration or repair of the Property, if the restoration or repair is economically feasible and
<br />Lender's ssc�u� is aot lessened. During su� �air and restoration periori, Lender shall have the right to
<br />hold such insurance pmcceds until Lender 1� �d an opporlunity to insper,t such Properiy to ensure the
<br />work has bcen completefl to Lender's satisfadion, provided that such inspecrion shall be undertaken
<br />promptly. Lender may disburse proce�s for the repairs and restoration in a single payment or in a seri� of
<br />progress payments as the work is completed. Unless an agreement is made in writing or Applic�ble La�v
<br />requires interest to be paid on such insurance prar.e�ds, Lender shall not be requirefl to pay Borrower aay
<br />interest or earnings on such procceds. Fces for public adjusters, or other third parties, retained by Borrower
<br />shall not be paid out of the insurance proc�ls and shall be the sole obligation of Bonower. If the restorarion
<br />or repair is not ec;onomically feasible or Lender's se,curity would be lessened, the insurance proceads shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Borrower. Such insurance 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 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 negoriate and settle the claim. The 30�ay period will
<br />begin when the notice is given. In either event, or if Lender acquires the Property under Secrion 22 or
<br />otherwise, Bonower hereby assigns to Lender (a) Borrower's rights to any insurance proce�s in an amount
<br />not to exceed the amounts 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 uneam+efl premiums �aid by Borrower) under all
<br />insurancs policies covering the Property, insofar as such rights aze applicable to the coverage of the
<br />Property. Lender may use the insurance procceds either to repair or restore the Property or to pay amounts
<br />uupaid under the Note or this Security Instrument, whether or not then due.
<br />6. Occupancy. Bonower shall occupy, establish, and use the Property as Borrower's principal residence
<br />within 60 days after the execurion of this S�urity Instrument and shall continue to occupy the Pragerty as
<br />Borrower's principal residence for at least one year after the date of occupancy, unless Lender oth�se
<br />agre�s in writing, which consent shall not be unreasonably withheld, or unless extenuating circu�o�
<br />exist which are beyond Bonower's control.
<br />7. Preservatiron, Maintenance and Protectior� of the Property; Inspections. Borrower shall not d�troy,
<br />damage or impair tiae Property, allow �te Property to deteriorate or commit waste on the Properiy. V��ther
<br />or not Borrower is resid'mg in the Property, Borrower shall maintain the Property in order to prevent the
<br />Property &om deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
<br />Se�don 5 that repair or restoration is not e�onomically feasible, Bonower shall promptly repair the Property
<br />if damaged to avoid fiuther deterioration or damage. If insurance or condemnation proceeds are paid in
<br />conn�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 proceeds
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />VMP � VMP6(NE) (1105)
<br />Wolters Kluwer Financial Services Pege 7 of 17
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