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201201749
<br /> All ins�irance policies required by 1'�ender and renew�ls of such policies shall be sub.jece Co Lender's righe to
<br /> disapprove sueh policies, shal(includc a staudard mortgage cLause, and sl�all name Lendcr 2s roortgagee
<br /> and/or as an addieioual Lose payee. Le�der sh�Il have ffie right to I�old tlie policies ai7d renewal certificaCes. If
<br /> Lendex requiees, Borrower shall promptly give to Lender all receipCS of paid premiums and renewal i�otices.
<br /> If Borrower obtains airy fonn of insurance coverage, not otherwise required by Lender, Por damage Co, or
<br /> destrucCion of, [he Propecty, such policy shall include a staudard morC�age clause and shall name Lendar as
<br /> mortgagae and/or as an adilitional loss payee.
<br /> In the event o�f loss, Borrower shall give pron�pt notioe to thc insuraocc carriec and Lender. ].ender may
<br /> make proof of loss if not madc promptly bq Ron�ower. Unless Lender and Rorrower otherwise agcee in
<br /> wriCing, any insuranee proceerLs, whether or nol: the underlying insurance wa.s required by Lender, sh2ll be
<br /> appiied to restoration or repair of the Property, if the xestocatiaii or repair is ccottomically feasitrte And
<br /> Lender's securiCy is not]essened. During such rcpair and restoration period, Lender sflall have tl�e right to
<br /> hoLd such i�surance proceeds unti] I�Ender has had an opportuniCy to inspect sucfi Property to ensuce Che
<br /> worlc has been r,ompleCed to I,e�der's satisPnceian, provided tl�at such ins�ectioil sl�at] be undciPaL<cn
<br /> promptlq. Lender may disbuzse proceeds for t11e repairs and iestoration iii a single payinenC or in a serie�s oP
<br /> progress payments as t�e work is compleCed. Unless an agceemeut is macle in writing or Applicable Law
<br /> requires interest to be paid oo such insurance p�roceeds, Lender shall uot be required to p�y Bortower any
<br /> interest or eamings on sucl�proceeds. Fees for public 2djuscers, or other third parCies, recained by Rorrower
<br /> shall uoe be paid out of tl�e insuranee pro'eds and sliall be the so]d obligaCion o�F Borrower, Tf the resmration
<br /> or repair is not economicallp feasible or I,ender's secuz�ity would be lessened, the insw�ance proc�°uis shall be
<br /> applied to tlie suins seeured by this Security Instcument, whether or not tlien due, wifi]� d�e cxc�ss, if any,
<br /> paid to Borrower. Soch insurailce proceeds shall be �ipplied iu tl�e order provided for io Section 2.
<br /> If Borrower abaiidons the Propeity, Lender may file, negotiate and setYle avy 2vailable insurance clxim and
<br /> relaCed matters. If Bon�ower does not res�ond witl�in 30 days to a notice from Leiider that tUe insuranoe
<br /> carrier has ofFered to setde a claim, tl�en Lender may negotiate and scttic the claim. The 30-day period will
<br /> begin when the notice is givea T�n either event, or if Lender acquires the Properey under Section 22 or
<br /> otherwlse, Boilower hereby assigns to Lender (a) IIorrower's riglus to auy insurance proceeds in au anzounC
<br /> not to exceed tl�a amotints unpaid under the Note or this Security InsCrumenC, and(b) any other of
<br /> Borrower's rights (other than Che righC Co any refund of unearned premiums paid 6y Borrower)under ��1
<br /> insurance policies covering the Property, iiisofar as such cight� are applicable to the eoverage of the
<br /> Property, 1'.ender may use t:he insurance proceeds either to repair or restore flia Property or to pay amoun4s
<br /> uupaid under d�e Note ar tliis Security InstrmnenC, whether or not then duc.
<br /> 6. Occupancy. Borrower s(iall occupy, establial�, and use the Property as Borrower's principa] residence
<br /> within 60 days aftcr the cxecution of this Security Instrume»t�a�d shall continue to occupy the Property as
<br /> Bon�ower's principal residence Por at Ieast one year after tlie date of occupancy, uiiles5 Lcnder oChciwise
<br /> agrees in wxiting, which cousent sliall not be um�easonably withheld, or unless extemiating circunistances
<br /> cxist which are beXond I�o�rower's eouCrol.
<br /> 7. Preservation, Maintenance and Protection of ihe Property, Inspections. Borrowcr sliall n�t destroy,
<br /> damage or impair the Prok�erty, allow Hie Property eo deYeriorate or co�xnnit waste o�1 t�he Propecty. Wltether
<br /> or not Borrower is residing in th€Pioperry, Borrow�r sliall mainCain Che Properry in order to prevent the
<br /> Pro�erry froin detariorating or decreasing �n value due to its condiCiai. Unles�it is detern�iired �ursua�t Yo
<br /> SecCion 5 thae repair or restoration is noC ecouomically feasible, Borrowcr ah�l] prompCly repair the Yraperty
<br /> if damaged to trvoid ftirtl�er de[exioration or damage. If insurance or coridenm�tion proceeds are paid iu
<br /> connection with damage to, or the talting of, the Property, Borrowei shall be responsGble for repairing or
<br /> restoring tl�e Property only if Lender l�as released proceeds for such purposes. Levder mtiy disburse pracceds
<br /> 2400049G
<br /> NE6RASK�SIngle Famlly-Fannle Maa/FreOdle Mao UNIFORM INSIAUMFNT Form 3029 7/01
<br /> VMP� . VMPGMEI 11105;
<br /> Woltars ICluwer Flnanclal Sarvloes Raga]ol 1]
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