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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, Bonower shall promptly give to Lender all receipts of paid premiwns and renewal notices.
<br />If Bonower obtains any form of insurance coverage, not otherwise required by Lender, for damage t�, or
<br />destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as
<br />mortgagee and/or as an addirional 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 Bonower otherwise agree 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 procceds until Lender has had an opportunity to inspe,ct such Properiy to ensure the
<br />work has been completed to Lender's satisfaction, provided that such inspecrion shall be undertaken
<br />promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of
<br />progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law
<br />re�uires interest to be paid on such insurance proceeds, Lender shall not be required to pay Bonower any
<br />interest or earnings on such proceeds. Feas 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 obligarion of Borrower. If the restoration
<br />or repair is not economically feasible or Lender's security would be lessenefl, the insurance proceeds shall be
<br />applied to the sums s�ured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Borrower. Such in�,,,�nce procseds shall be applied in the order provided for in Section 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 notice from Lender that the inc��,�nce
<br />carrier has offered to settle a claim, then Lender may negoriate and settle the claim. The 30-day periorl will
<br />begin when the notice is given. In either event, or if Lender acquires the Property under S�tion 22 or
<br />otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceerls in an amount
<br />not to exce� the amounts unpaid under the Note or this Security Instnunent, 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 policies covering the Properiy, insofaz as such rights aze applicable to the coverage of the
<br />Property. Lender ma,y use the insurance procceds 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 Bonower's principal residence
<br />within 60 days after the execurion of this Security Instrument and shall continue to occupy the Property as
<br />Bonower's principal residence for at least one year after the date of occupancy, unless Lender otherwise
<br />agrees in writing, which consent shall not be unreasonably withheld, or unless emenuating circumstances
<br />exist which are beyond Borro�ver's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy,
<br />damage or impair the Property, allow the Properiy to deteriorate or commit waste on the Property. 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 decreasing in value due to its condition. Unless it is determined pursuant to
<br />Se�tion 5 that repair or restoration is not economically feasible, Bonower shall promptly repair the Properly
<br />if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds 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/Freddie Mac UNIFORM INSTRUMENT
<br />VMP Q
<br />Wolters Kluwer Financial Services
<br />Fom, soza iro�
<br />VMP8INE) (1105)
<br />Page 7 of 17
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