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<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee
<br />and/or as an addirional loss payee. L.ender shall have the right to hold the policies and renewal certificates. If
<br />Lender requires, Bonower shall promptly give to Lender all receipts of paid premiums and renewal norices.
<br />If Bonower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or
<br />destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as
<br />mortgag� and/or as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. I.ender may
<br />make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in
<br />writing, any insurance procee�s, whether or not the underlying insurance was required by Lender, shall be
<br />applied to restoration or repair of the Property, if the restoration or repair is ec;onomically feasible and
<br />Lender's s�urity is not lessenerl. During such repair and restoration period, Lender shall have the right to
<br />hold such insurance proceeds until Lender has had an opporhmity to inspect such Property to ensure the
<br />work has b�n completed to Lender's satisfaction, provided that such insp�ction shall be undertaken
<br />promptly. Lender may disburse procceds for the repairs and restoration in a single payment ot in a seri�s of
<br />progress payments as the work is completed. Unless an agre�ment is made in writing or Applicable Law
<br />requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any
<br />interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Bonower
<br />shall not be paid out of the insurance procceds and shall be the sole obligation of Bonower. If the restoration
<br />or repair is not economically feasible or Lender's s�urity would be lessened, the in�,�ra„ce proceeds shall be
<br />applied to the sums s�ured by this S�urity Instnunent, whether or not then due, with the excess, if any,
<br />paid to Bonower. Such insurance proceeds shall be applied in the order provided for in Secrion 2.
<br />If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and
<br />related matters. If Borrower does not respond within 30 days to a norice from Lender that the insurance
<br />carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will
<br />begin when the notice is given. In either event, or if Lender acquires the Property under Secrion 22 or
<br />otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount
<br />not to exc�d the amounts unpaid under the Note or this Security Instrument, and (b) any other of
<br />Borrower's rights (other than the right to any refund of unearned premiums paid by Bonower) under all
<br />insurance pfllicies covering the Property, insofaz as such rights are applicable to the coverage of the
<br />Property. Lender may use the insurance proc,eeds either to repair or restore the Property or to pay amounts
<br />unpaid under the Note or this Security Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
<br />within 60 days after the execution of this Security Instrument and shall continue to accupy the Property as
<br />Borrower's principal residence for at least one year after the date of occupancy, unless Lender othervvise
<br />agr�s in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstanc�s
<br />exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Bonower shall not destroy,
<br />damage or impair the Properiy, allow the Property to deteriorate or commit waste on the Properiy. Whether
<br />or not Bonower is residing in the Property, Bonower shall maintain the Property in order to prevent the
<br />Property from deteriorating or d�reasing in value due to its condition. Unless it is determined pursuant to
<br />Section 5 that repair or restoration is not economically feasible, Bonower shall promptly repair the Property
<br />if damage� to avoid further deteriorarion or-damage. If insurance or condemnarion procceds are paid in
<br />connection with damage to, or the taking of, the Property, Bonower shall be responsible for repairing or
<br />restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse procceds
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM �NSTRUMENT
<br />VMP Q
<br />Woltars Kluwer Flnancial Services
<br />Form 3028 1 /01
<br />VMPBINEI (7105)
<br />Page 7 of 17
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