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201201859
<br /> All insurance policies required by Lender and renew�als of such policies shall be subject to Lendei s right to
<br /> disapprove such policies, shall 3itclude a standard mortgage clause, and shall namc Lerider as mortgagee
<br /> and/or as an addiuonal loss payee. Lendcr shall have the right to hold the policies and renewal certificates. If
<br /> Lendcr requires, Borro�nrer shall promptly givc to Lender all receipts oP paid prexniwns and renewal notices.
<br /> Sf Boi*ower obtains any form of insurance coverage, not otberwise required hy T,ender, £ar damage to, or
<br /> destruction of, the Property, sucli pplicy shall include a standard innrtgage clause and shall natne Lender as
<br /> mortgagee and/or as an additianal loss payee.
<br /> In the cvent of]oss, Borrower shall gve prompt notice to the insurance carrier and Lender. Lender may
<br /> make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise aa ee in
<br /> writing, any visurance proceeds, whcther or not the underlying insurance was required by Lcnder, shall be
<br /> applied Co restoration or repair of the Property, if the restoration or repair is economically feasible and
<br /> Lender's securily is not lessened. During such repair and restoration period, Lender sliall have the right to
<br /> hold such insurance proceeds m�til I,ender has had an opportunity to inspect such Proyerry to ensure the
<br /> work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
<br /> proinptly. Lender may disburse proceeds for�lie repairs and restorarion in a single payment or in a series af
<br /> progress payments as the work ie completed. Unless an agreement is made in wrifing ar Applicable I.aw
<br /> requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any
<br /> inTerest ox eacaings on such proceeds. Fees fo,r public adjusters, or oSher tUird parEies, retained by Borromer
<br /> shall not be paid out of the insurance proceeds and sk�all be the sole obligation of Borrower. If the restoration
<br /> or repair is not economically feasible or Leader's security would be lessened, the insurance proceeds shall be
<br /> applied to the siwvs seciu ed Uy fliis Security Instnunen� whetha or not khen due, with the execss; if any,
<br /> pud to Borrov✓er. Such uistuance procceds shall be applied in the order provided far in SecCion 2.
<br /> If Borrower abandmis the Property, Lender may file, negotiate and settle any available insurance clavn and
<br /> related matters. If Sorrower does not respond within 30 days to a notice from Le�clu that the insivance
<br /> canier has of£e�ed to settle a elaim, then I,ender tnay negotiate and settle flie claim. The 30-day period will
<br /> begin wlien the notice is given. Tn eithes event, or if L,ender acquires the Property under Section 22 or
<br /> otherwise, Borrower he=eUy assi�s to Lendex (a) Boaower's rights to any insLU'ance proceeds in an amount
<br /> not to�ceedthe amotmts impaid under$ie Note pr this SeCUrity Iast�cument, and(b) any other of
<br /> Borrower's rights (othex than the right to any refimd of Luxeatued pxemiums paid by Borrower) under all
<br /> insurance policies coveruig the Property, insofaz as such righis are ap�licable to the coverage oP the
<br /> Property. Lender may use the insurance procecds either to repair or restore the Properiy or to pay amounts
<br /> unpaid under thc Note or tlus Secunty Insirument, whether or not khen due.
<br /> 6. Occupancy. Borrowes shalt occupy, establish, and use the Properiy as]3�rrower's prineipal residence
<br /> within oC days after the execution of thig Seeurity Instrument and shall confinue to occupy the Property as
<br /> Borcower'�prineipal resldence far at least on�year after rha date of occupancy, unless Leada otherwise
<br /> agrees in wriTing, which c;onsent shall not be unreasonably withheld, or unless cxtenua.ting circwnstances
<br /> exist wluch are beyond Borrower's control.
<br /> 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy,
<br /> damage or impair the Property, allow the Property to deteriorate or commit waste on[he Proper[y. ��?hether
<br /> or not Borrower is residing in the Properiy, Boao��er sliall maintain the Property in order to prevenC rhe
<br /> ProperYy$om deterioTating o�'decremsuig in value due to its condirion. Unless iY is determined pureuant to
<br /> Section 5 that repair or restoration is not economically feasible, Borrower shall prompUy repair the Froperty
<br /> if damaged to avoid fiuther deterioration or damage. If insurancz or condexnnation procecds are paid in
<br /> connectiou witii daznage to, or the talring of, the Property, Bosower shall be responsible fox repairing or
<br /> r�toring the Propertv only if I,ender has released procceds for such pwposes. Lender may disUurse�roceeds
<br /> z<000sss
<br /> NEBR45KA-SingleFamily-Fannie b1aelFreddie Nac ONIFORM INSTRUMENT Form 3028 1!01
<br /> VN G Q VM PB(NE)(1�65)
<br /> Walters Kluwer Ffnancial Services Pzge�ot V
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