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<br />All in�rance policies requued lby Lender and aenewals 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 additionai 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 premiiuns and renewal notices.
<br />If Bortower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or
<br />destrucrion 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, Borrower shall give prompt notice to the insurdnce cazrier and Lender. Lender may
<br />make proof of loss if not made promptly by Borrower. Unless Lender and Bortower otherwise agree in
<br />writing, any insutance proce�s, whether or not the underlying insuiance was required by Lender, shall be
<br />applied to restoistion or repair of the Ptoperty, if the restoration or repair is economically feasible and
<br />Lender's security is not lessened. During such repair and restoration period, Lendet shall have the right to
<br />hold such insutance proceeds until Lender has had an opportunity to inspect such Ptopetty to ensure the
<br />work has been completed to Lender's satisfacrion, provided that such inspecrion shall be undertaken
<br />promptly. Lender may disburse proceeds for the repairs and restorarion in a single payment or in a series of
<br />progress payments as the work is completed. Unless an agreement ia made in writing or Applicable Law
<br />requires interest to be paid on such insurance proceeda, Lender shall not be required to pay Borrower any
<br />interest or earnings on such proceeds. Feea for public adjusters, or other third parties, retained by Bortower
<br />shall not be paid out of the insurance proceeds and ehall be the sole obligarion of Borrower. If the restoration
<br />or repair is not economically feasible or Lender's security would be lessened, the inswance proceeds shall be
<br />applied to the sums secured by this 5ecurity Insrivment, whether or not then due, with the excess, if any,
<br />paid to Boaower. Such �nc,,,�nce proceeds shall be applied in the order provided for in Secrion 2.
<br />If Bonowet abandons the Ptoperty, Lender may file, negotiate and settle any available insutance claim and
<br />related matters. If Bortower does not respond within 30 days to a notice &om Lender that the insutance
<br />cartier 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 Properly under Sechon 22 or
<br />otherwise, Borrower hereby assigns to Lender (a) Bortower's rights to any insutance proceeds in an amount
<br />not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of
<br />Boaower's rights (other than the right to any refuad of unearned premiums paid by Borrower) under all
<br />insurance policies covering the Properly, insofar 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 this Secutity Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Boaower's principal residence
<br />within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as
<br />Boaower's principal residence for at least one year after the date of accupancy, unless Lender othetwise
<br />agrees in writing, which consent shall not be unreasonably withheld, or unlese extenuating circutnstances
<br />exist which are beyond Borrower's control.
<br />7. Preservation,Malntenanceand Protectionof the Property; Inspections.Borrower shall not destroy,
<br />damage or impair the Property, allow the Propetty to deteriorate or commit waste on the Property. Whether
<br />or not Borrower is residing in. the Property, Borrower shall maintain the Properly in order to prevent the
<br />Ptoperty 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 economically feasible, Borrower shall promptly repair the Property
<br />if damaged to avoid fiuther deterioration or damage. If insurance or condemnatioa proceeds aze paid in
<br />connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or
<br />restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceede
<br />NEBRASKASIngle Famity-Fennie MeelFreddle Mac UNIFORM INSTRUMENT F°rtn 3U28 �ro�
<br />YMP � VMPB(NE) (110b).00
<br />Woliew Kluwer Finencial Services Page 7 of 17
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