|
201201565
<br /> All ineuranoo policiw required by L,endex�and renewals of such policias shall be subjeoC Co Lencier'�rigl�t to
<br /> disapprove auch policics, shall inc7�idc a etandard moitgage clanse; and shall nama Lender as mortgagee
<br /> and/or ae an additional loea payee. Lender ehall have Ehe right fo hold the policies and renewal certificakes. If
<br /> I,ender requn'es, Borrowar shall promptly give fo Lender nll recei�ts oP paid premiums nnd r�icwal notioes,
<br /> If Borrnwer obtaius a�iy Form of ineurance coverage, not otherwise required by Lender, for damage ko, or
<br /> des6ru�tion of, Cl�ie Property, such policy shall include a sta�tdard mortga�ge cla�use vid sha11 naine Lender as
<br /> mortgagee�nd/or es nii ndditionnl lose pnyee.
<br /> In the event of loss, Borrower shnll give prompC notice fo the ivsurance carrier Taid].ender. L,ender inay
<br /> malce proof of loss iF nat n�eda promptly by Borrower. Unless Lender and Borrowcr othorwiae agrec iu
<br /> writing, auy insurauce proceeds, whether or not the underlying insLUence was requireti vy Lender, shall be
<br /> a}�plied to reaCOrntion or repaix oP Che Proper[y, if the resforation or repnir is economically feasible aud
<br /> Lender'e security is not lessened. During such xepair and restoration pe�-iod, Lcndor shall ]�ave the tight to
<br /> hold such inswanca proceeds mrtil Lender hae liad en opporiunity to inspecl suoh ProperCy to ensiire tho
<br /> worlc has Ueen completed to]yender's saYisfactlon, provided tihati sucl�iuspeetion shztll be underCnlcen
<br /> promptly. Lender m�y diel�urse procceds for thc rcpairs and reatoratiou in a single payment or in a serias of
<br /> progress payments aa the work is oompleted. Unless an ngreement is made in wriCing or Applieable L,aw
<br /> requires interest to Ue paid on such insura�ice proceeds, Lender shnll not Ue required to pay Borro�ver�ny
<br /> interest ar o�rnings on such pracccds. Fces for public adjueters, or other tl�irdpaities, retiained by Borrowei
<br /> shnll noC be paid out of the insuranee prooeeds and sball be Che sole obligation of Borrower, if tl�e restoration
<br /> or repair is not economically feasible or Lender'a seom�idy would be lessened, Hie ineurance prooeeds ehall Ue
<br /> applied ro the sums secured Uy t1�is Security InsirLUnent, wheYher or not then due, with the excess, if eny,
<br /> paid to Borro�er. Such insurance proceeds sha11 Ue applied in the ordex provided f'or in Section 2.
<br /> If Bouower abaaidmis t1�a Property, Lender may rile, negotiaYe�id settle any available insivance claim nnd
<br /> rclated mattor5. ff Boi7owor doos not xasponc�witl�in 30�days to a notice fi'oin I.ender that tlie instiixance
<br /> oarxier has offered to aettle a claim, theu Lender mny negotiaCe uici settle lhe claiui. The 30-day periad will
<br /> beg�in when the notica is g�iven. In either avent, or if Lender acquires the Property under Section 22 or
<br /> _ otherwise, 13orrower liereby assigns fo l.ender (a) T3omo�er's rights to any insurance proceeds in ui amomit
<br /> not Co exeeecl fhe ainoanC.c mipaid Lmder fhe Note or fhie Seourity flietrun�ent, and(b) any otihor of
<br /> 13orrower's righte (other than the right to any iefund of unearned premiums pnid by Borrower)under nll
<br /> insurance policics oovcring tha Proper:ty, insofar as 5uch r'rghts arc applicable to the cover�.ge of the
<br /> Proper6y. Lender niay use the insuranoe proceeds either to repair or restore hhe Property or Co pay amounL4
<br /> unpAid under the Note or this Security Inskvment, whether or not then due.
<br /> 8. Oecupancy. Borrowex eti111 occupy, estnblish, and uae the Propet[y as Borrower's principal residence
<br /> within 60 days af'ter the execution of this Security Inst�wneirt and sha11 continue to occupy the Property ns
<br /> Bortower'e}n•irwipal residence for at loast one y�.r after the dafe of occuganey, unlass IzndeY ofhe��wise
<br /> flgrees in writing, wlrich consent sha11 not be unteasonably wiEhheld, or rn�less exfem[ating oiremnslances
<br /> axist which ere beyoiid Borrower's conY�ol.
<br /> 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not deshny,
<br /> damage or impair the Pro�erty, a11ow the Property to deterior�te or commit waste ou the Property. Whellier
<br /> or not$orro�,vcr is residing in tho Yroperty, Borrowct shall�nainta.in thc Property in ordcr to prcvont the
<br /> Property Prom deCerior�cing or decrensing in vahie due lo its wndition, Unless il is cieterrlvned pmsnanC to
<br /> SecHon 5 thAY repnir or reatoraYion is not eoonomically feASiUle, Borrower shall prornptly repair the Propexty
<br /> if daanaged to a�oid furtlier deCerioration or daanage. M'ii�smauce or condamik�tion�roceeds az•a pai<l in
<br /> wnuection with damage fo, or thc talcing of, thc Yroperty, Borrower shall be responsihle fot rcpfliring or
<br /> resCoring tihe PropexCy oiily if Lender has released proceeds £or such pnrposes. Lender n�ay disbnrsa proceede
<br /> 2•1000380
<br /> NEBIiHSKA-Single Pamily�fannie Mae/Gretldie Idac IINIPORM INSTRUMENT � Gorm 302A 1701
<br /> VM P� VM P6(NE)(1106)
<br /> WoHera Kluwer Rnenclz�l3arvicea Paget oi 19
<br />
|