|
20120254�
<br />Properiy, if the restoration or repair is economically feasible and I�nder's security is not lessened. During such repair and
<br />restorarion period, Lender shall have the right to hold such inswrance proceeds until Lender has had an opportunity to
<br />inspect such Property to ensure the work has been completed to der's satisfaction, provided that such inspection shall
<br />be undertaken promptly. Lender may disburse proceeds for the r airs and restoration in a single payment or in a series of
<br />progress payments as the work is completed. Unless an agteem t is made in writing or Applicable Law requires interest
<br />to be paid on such insurance proceeds, Lender shall not be req ' ed to pay Borrower any interest or eamings on such
<br />proceeds. Fees for public adjusters, or other third parties, retau}ed by Borrower sha11 not be paid out of the +n�►�*�ce
<br />proceeds and shall be the sole obligation of Borrower. If the rest ration or repair is not economically feasible or Lender's
<br />security would be lessened, the insurance proceeds sha11 be ap lied to the sums secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrowe . Such insurance proceeds sha11 be applied in the order
<br />provided for in Section 2.
<br />If Borrower abandons the Property, Lender may file, negoti te and settle any available insurance claim and related
<br />matters. If Borrower does not respond within 30 days to a notic from Lender that the �n��,x,nce carrier has offered to
<br />settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In
<br />either event, or if Lender acquires the Properiy under Section' 22 or otherwise, Borrower hereby assigns to Lender
<br />(a) Bonower's rights to any insurance proceeds in an amount n t to exceed the amounts unpaid under the Note or this
<br />Security Instrument, and (b) any other of Borrower's rights (oth thau the right to any refund of unearned premiums paid
<br />by Borrower) under all insurance policies covering the Property, ixsofar as such rights aze applicable to the coverage of
<br />the Property. Lender may use the insurance proceeds either to r air or restore the Properiy or to pay amounts unpaid
<br />under the Note or this Security Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use thg Property as Borrower's principal residence within 60
<br />days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal
<br />residence for at least one year after the date of occupancy, unless �,ender othervvise agrees in writing, which consent shall
<br />not be unreasonably withheld, or unless extenuating circumsta�ces exist which are beyond Bonower's control.
<br />7. Preservation, Maintenance and Protection of the Pro I rty; Inspections. Borrower sha11 not destroy, da.mage
<br />or impair the Property, allow the Property to deteriorate or co t waste on the Property. Whether or not Borrower is
<br />residing in the Property, Bonower shall maintain the Properiy ' order to prevent the Properiy from deteriorating or
<br />decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not
<br />economically feasible, Borrower sha11 promptly repair the Prope�ty if damaged to avoid fittther deterioration or damage.
<br />If insurance or condemnation proceeds are paid in connection th damage to, or the taking of, the Properiy, Borrower
<br />shall be responsible for repairing or restoring the Property only if der has released proceeds for such purposes. Lender
<br />may disburse proceeds for the repa.irs and restoration in a single ayment or in a series of progress payments as the work
<br />is completed. If the insurance or condemnaHon praceeds are not sufficient to repair or restore the Property, Borrower is
<br />not relieved of Borrower's obliga.tion for the completion of suc repair or restoration.
<br />Lender or its agent may malce reasonable entries upon and �nspections of the Property. If it has reasonable ca.use,
<br />Lender may inspect the interior of the improvements on the Prop . Lender sha11 give Borrower notice at the time of or
<br />prior to such an interior inspection specifying such reasonable ause.
<br />8. Borrower's Loan Application. Borrower shall be in def ult if, during the Loan application process, Borrower or
<br />any persons or entities acting at the direction of Borrower or �th Borrower's knowledge or consent gave materially
<br />false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material
<br />information) in connection with the Loan. Material represen tions include, but are not limited to, representations
<br />concerning Borrower's occupancy of the Property as Borrower s principal residence.
<br />9. ProtecNon of Lender's Interest in the Property and Ri hts Under this Security Instrument If (a) Borcower
<br />fails to perform the covenants and agreements contained in this ecurity Instrument, (b) there is a legal proceeding that
<br />might significantly affect Lender's interest in the Property an or rights under tkus Security Instrument (such as a
<br />proceeding in banlauptcy, probate, for condemnation or forfei e, for enforcement of a lien which may attain priority
<br />over this Security Instrument or to enforce laws or regulations), o� (c) Borrower has abandoned the Property, then Lender
<br />with MERSForm 3028
<br />�'�/ � .
<br />NEBRASKA -Single Family-Fannie Mae/Freddle Mac UNIFORM INS1
<br />Page 6 of
<br />IDS, Inc.
<br />Borrower(s) Initlals�'
<br />
|