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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 standazd mortgage clause, and shall name Lender as mortgagee
<br />and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If
<br />Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices.
<br />If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or
<br />destrucrion of, the Properiy, such policy shall include a standazd mortgage clause and shall name Lender as
<br />mortgagee and/or as an additional loss payee.
<br />In the event of loss, Bonower shall give prompt notice to the insurance carrier and Lender. Lender may
<br />make proof of loss if not made promptly by Bonower. Unless Lender and Borrower otherwise agr� in
<br />writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be
<br />appliefl to restoration or repair of the Property, if the restoration or repair is economically feasible and
<br />Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to
<br />hold such insurance proc,eeds until Lender has had an opporlunity to inspect such Properiy to ensure the
<br />work has heen completed to Lender's satisfaction, provided that such inspecrion shall be undertaken
<br />prompfly. Lender may disburse procceds for the repairs and restoration in a single payment or in a serie.s of
<br />progress payments as the work is complete�. Unless an agreement is made in writing or Applicable Law
<br />requires interest to be paid on such insurance procseds, Lender shall not be r�uired to pay Borro�+er any
<br />interest or earnings on such procee�s. Fees for public adjusters, or other third parties, retained by Borrower
<br />shall not be paid out of the insurance procceds and shall be the sole obligation of Borrower. If the restora,tion
<br />or repair is not economically feasible or Lender's security would be lessened, the inc„rance proceeds shall be
<br />applied to the sums secured by this Security Instnunent, whether or not then due, with the excess, if any,
<br />paid to Borrower. Such insurance proceeds shall be applied in the order provided for in S�tion 2.
<br />If Borrower abandons the Property, Lender ma,y file, negotiate and settle any available insurance claim and
<br />related matters. If Borrower does not respond within 30 days to a notice 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 Ptogerty under Section 22 or
<br />otherwise, Borrower hereby assigns to Lender (a) Bonower's rights to any insurance proceeds in an amount
<br />not to exceed the amounts unpaid under the Note or this Securiry Instrument, and (b) any other of
<br />Bonower's rights (other than the right to any refund of unearned premiums paid by Bonower) under all
<br />insurance policies covering the Properly, insofaz as such rights are applicable to the coverage of the
<br />Properly. Lender may use the inc�,ran� proceeds either to repair or restore the Property or to pay amounts
<br />unpaid under the Note or this S�urity Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Bonower's principal residence
<br />within 60 days after the execution of this S�urity Instrument and shall continue to occupy the Property as
<br />Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise
<br />agr�s in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances
<br />exist which 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 the Properiy. Whether
<br />or not �nower is residing in the Property, Bonower shall maintain the Properly in order to prevent the
<br />Property from deteriorating or d�reasing in value due to its condirion. Unless it is determined pursuant to
<br />S�tion 5 that repair or restoration is not economically feasible, �nower shall promptly repair the Property
<br />if damaged to avoid further deterioration or damage. If insurance or condemnarion procseds aze paid in
<br />connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or
<br />restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds
<br />NEBRASKA-Single Family-Fannie Mae/Fraddie Mac UNIFORM INSTRUMENT
<br />VMP Q
<br />Wolters Kluwer Financial Services
<br />Fom, aoze ,ro�
<br />VMP81NE1 (t 105)
<br />Page 7 of 17
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