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201201696
<br /> All inswance policies required by Lauder ancl renewAle of such policies shall Ue subject to I,endex's right to
<br /> disal�provic euch policics, shall incltiide a stat�dard mortgage clause, nnd ahnll nnine Lender as mortgagee
<br /> and/or as an additionztl loss pnyee. Lendar shall have thc right to hold the policies ancl renewal certificaYcs. Tf
<br /> Lender requires, Borrower s1k�11 proniptly give to Lender all receipts oP paid premiums a�id renewal notioes.
<br /> I4'Borrower obtains any form of insuraxice coverage, noE otherwise required by T,c;nder, for da�nage to, or
<br /> destrciction of, fhe]'roperty, such policy shall uiclude a sYandard martg�ge clauso and sliall n�une Le�ider as
<br /> mortgagoo and/or as an additional 1oss paycc.
<br /> ln tl�e event of loss, Borrower shall give prompt notiice to the insurance oarrier�ncl Lender. Lc�idcr may
<br /> make pruof of lnss if noC mlde promptly by Borr'ower. Uuless Lender and Borrower otherwise ngrae in
<br /> writing, an�insurence proceeds, whether or noC t�he underlying insurance was required by Lender, shnll be
<br /> app1ied to rosYai ntiou or ropair of the Yroperty, if the restoration or repeir is eoonoinically feasible and
<br /> Lender's secu�ity is not lesseneci. Diu�ing 9uch rcpair and restorat�ion period, Lender s11ell have the righl to
<br /> hold such insurance proceeda until Lender hpe hnd 2n opporLimity to inspect yuch Property to ensm�a the
<br /> work has baen completed to Lendar's satisfaction, provided that suoh inspecCiov shall Uc �mdertaken
<br /> promptly. Lender tnay disUurse proceeds for Uie repairs and restoratiou in n single pa}nnenl or in a scries of
<br /> progress payments as thc worlc is coiirploted. Ui�less an agreatnent is inade in vrrit�ng or Applioable Law
<br /> roquires ii�terest to be paid on eucl�insiu�ance�procccds, Lender sl�all not be required to�ay Borrower nny
<br /> niferest or enrnings on auch proceeds. rees For publio adjuaters, or other third parEies, refained by Rorrowar
<br /> sha11 not ba paid out of 11ie insuranoe proceeds and sht�ll ba the sole oblignLion of Borrower. If lhe reetoration
<br /> or repair ie not eaonomicnlly foasiUle or Lender's security would Ue lessened, the insurenee proceeds shnll be
<br /> applied tp lhe sums seenred by Ch'vs Securilq His�r�unony wl�eft�cr or not then due, with tha excess, ii'any,
<br /> pnid to Borrower. Such insm•ance proceeds shall Ue npplied in the oxder�rovided Eor in 8ection 2.
<br /> If Borrower nh�ndous the Property, Lender may file, negotiate and se6ele any availablc insurance claim aud
<br /> related maCters. I£Borcower does not resgond within 30 daye to a notice from Lender tl�t the insuranc�
<br /> oarrier has o£fered to sctt1e a claim, then Le�ider may negotiate�uid seCtile the claim. The 30-day�eriod Will
<br /> bcgin wl�cn the no6ioe is given. In cither event, or if Lendcr acquiras the Property tuider Section 22 or
<br /> oCherwiae, Borrowec hereby�ssigns to Lender (n) Borrower'a rigJ�Cs l'o any ins�irance prucecds in an amotwt
<br /> not to axceed tha ainounts mipaid tiulder the Note or Yhie Security Iustsument, nnd(6) any oflier af
<br /> Borrower'a rights (oUicr t1�an the right to any refund of une��rned premimns paid l�y Bori•ower)undex all
<br /> ineurenco policies covering the Pcoperty, insoPar �s such rights are applioable Co t�he coverlge of tho
<br /> Property. Leuder may use the is�surance proceede either to repair or resCore the Property or to pay mi2ounCe
<br /> urq�aid'uncior tho Note or tbis Securil�y Insfruivant, wheCher or not then due.
<br /> 6. Oceupancy. ]3orrower shall owupy, establish, �u�d t�sc tUe Property as T�orrower's principal residance
<br /> within�0 days after the execution of thia Secnritg IrisL�•tm�en[and shall contin�ie to occiipy t1�e ProperCy as
<br /> Borrower'a principal residenoe for et least one year after Yhe d�te of 000up�ncy, unless Lendcr otl�ciwise
<br /> agrees in writing, wl�ich oonsent shall not Ue w�reasonaUly witlilield, or unlese extemiaring oircumsCanccy
<br /> exist which ace bc�yond Borrowcr'S coutrol.
<br /> 7. Preservation, Maintenanr,e and Protection of the Property; Inspections. Borrower shell not des6roy,
<br /> ciazi�nge or ir�pair the ProperCy, allow the ProperCy to deferiorate or com7irit wast�e on the Property. Whether
<br /> or not Borro�er is residing in tho Property, Borrower ehall n�intain the Proper6y in order to prcvrnit the
<br /> ProperEy froin deteriortttii�g or decre�asing in va1ue dne fo iEs condiUOn. Unless it is determined pitrauviC to
<br /> Seotiion 5 lhaf repais or restornlion is noC econoirucally feasiblc;, BmroWCr shall promptly repair tl�e Property
<br /> if damaged to avoid furUier deterioretion or demage. If inenrnnoe or ooi�idemnaiinn procccde arc pa'rd in
<br /> eonnection wiYh dauiage Co, or the taking of, the Propariy, Borrower slxall be responsible for repniring or
<br /> restoring the Prope�'dy only if 1',ender has released proceeds for such purposes. Lender m�y disUurse prooeeds
<br /> 240004R3
<br /> NEBNASKA-Single Femlry•Fannle 67aelFheddie Mac UNIFORPd WSTRUMEN'f Forni 307.0 1101
<br /> VMP ^O VMPB�Nt) 1106)�.
<br /> Wollers Kluwer Floanalal 3ervloes Page of 17
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