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201201691
<br /> All inem'nnoe policies rcquired by Lendcr and renewals of sncli policles shall be aubject to Lender's right to
<br /> dis�pprove sueh policies, shall inolude a sttuidnrd inortgage clai�sq and shall name Lender as mortgagee
<br /> �nd/or as an adclitionalloss payee. Lender shall have the right fo hold fhe policiea and re�iowal ecrtif cates. If
<br /> Londer rcquirca, k3on�ower shall promp�ly give to Lender all receipts oP pTid prerniums and renewal nolices.
<br /> If Borrower oUtains nny fonn of insucanoe coveragc, not othcrwlsc roqu,ired Uy],ender, for damage to, or
<br /> destruction oP', the Proparty, sucli policy shnll include a stnndnrd inorCgnge Elflnse�nd shall n�uno Lcnder as
<br /> mort�;a�;cc and/or as an additional loss payee.
<br /> In Uie event of loss, Borrower sha11 give prompt notice to the insurance c�u•eier �nd Lencler. Lender may
<br /> tnalcc proof oF loss if not mad�promptly by F3on�ower. Uiiless Lender uid Borrower oYherwi�e agree in
<br /> writing, any insurazice proccecls, whcther or not the ixndar7ying insw�ance was requirad by Lendet•, ehall be
<br /> applied to restore�tion or repair aF Yhe Property, iP the resWration ox repair is economically feasible and
<br /> I,ender's secnrity is not lessened. During such repair and restoretion period, Leuder shall linve the xight to
<br /> ]�old sucl� insurancc proceeds until 1',ender l�ae had an opportuniYy to inspeoC sueh Property ko ensure the
<br /> work hps been oompleL�ed Co Lencler's st[tisPaction, provicled Lhat such inspcction shall be undertAken
<br /> prompYly. Laixdar inay clisburse proceeds for the repairs and restoration ui a aiugle paymcnt or in a ecries of
<br /> ptogress pa3�nents as the worlc is coinpleked. Unless vi agreeinent is inade in wriEing or ApplicaUle L�w
<br /> reqiures inCeresl Co be�ud on such ii7surance grocccds, I3e�iiie��shall not be required to pay Borrower any
<br /> interest or earninge on such prooeecls. Fees for pnblic adjusfeis, or oCl�cr third��arlics, retained hy Borrower
<br /> shall not ba paid aut of the insm•ance proceeds and ehtill be the sole obligation of Borrow��. IC the restoration
<br /> oc cepair is not economically feasiUla or Lender's security would be lessened, the insurance proeeeds sh�ll be
<br /> npplied to tl�c sums secured Uy this SecLir'ity InaErument, wheTl�er or noi then due, with the�cess, if�uy,
<br /> paid to Borrower. Sueh insuranoe prooceds sl�all Uc applicd in the order provided for in Section 2.
<br /> If Bo��rowcr abandoiis thc Property, T cnder may fil e, negotiate oud set�tle any auailable insurauce clzum flnd
<br /> relnted matfers. If IIorrower doea not respond within 30 dftys Ca a noHce fi�om Lendcr tl�at the iusurance
<br /> ca�rier hae of'fered to sektle a claiin, Chen Lender aney negotiate and settle the cl�im. The 30-day period will
<br /> bcgin whcn tho iiotico is givcn. Iu oithor cvcnt, or if Lc��de��acquires the Prope��ty tiiuder Section 22 or
<br /> otherwise, Boxrowex hereby assigne to Lender(a)Bormwex's rigkiCs Co any instu�anc�procecds in 2n amount
<br /> not to exceed Uie Tanounts tmpaid undar the Note or Chis Sacurity Instrument, and (b) �ny other of
<br /> Borrower's rtghts(otber th�tt the right to any refimd of wieu�ned premiums paid by Borrower)under zll
<br /> insurnnce polioies covering the Property, insoFar ae sueh rights are applicable to the cove��ge of the
<br /> Property. Lender may use Uie insaazice procaede either to repair or restore the Property or to pay amounts
<br /> unpaid under fhe Nofe or tliis Sectuity Instrument, wheflier or not then due.
<br /> 6. Occupancy. Rorrower sh,�11 occupy, esfablish, and use Uie Property as Borrower's principal residence
<br /> within 60 days aftcr the osccution of tl�iF Sa;urity JueC'um�nt and shall confimie to oocupy the Property as
<br /> Borrower's princip�l residence£or aC lenst one year after the date of 000upancy, unless Lender oll�erwiec
<br /> agrees in writing, which consent shall not Ue umeasonablp witlil�eld, or unlass extenunting circumstences
<br /> exist which aicbeyond Borrowcr's confrol.
<br /> 7. Preservation, Maintenance and Protection of the Property; Inspections. Rorrowar sha11 not destroy,
<br /> damage or impait fhe Property, allow Ihe Property to deferiorate or commit' wasCe on thc Property. Whctller
<br /> or not Borxou�er is residing in the Pxoperty, Borrower shall mnintani the Property in order to prevent the
<br /> Property fiom deteriornting or decreasing in value due to its oondition. Unless it is determined pursuant to
<br /> Section 5 that repair or restoration is not economically f'eaeiUle, Borrower s1�a11 promptly repair the Property
<br /> i'F damagcci to avoid'Cm�flia'dotcrioratioii or damagc. If insurancc or condenv�ation proceedy are paid in
<br /> connec[ion with demege to, or the taking oE, the Property, Borrower sliall be res�onsible for repairiug or
<br /> restioring the Properry only if I ender has released proceeds f'or such purposes. Lender ix�y disburse proceeda
<br /> 24000447
<br /> NEBR4SNA-Single Femlly-Fannle PAaelFreddie Mac UNIFORA4 INSTRUMENT Farm 3028 7/01
<br /> VM P 0 VM PB(NG)(17 06�
<br /> VJolters I(luw er FinancialServicee P�ge 7�of 1
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