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20120260�
<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 />andlor as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If
<br />Lender requires, Bonower shall prompfly 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 da.mage to, 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 additionalloss payee.
<br />In the event of loss, Borrower shall give prompt notice to the �n�ransp carrier and Lender. Lender may
<br />make proof of loss if not made prompfly by Borrower. Unless Lender and Borrower otherwise agree in
<br />writing, any �nc,�*a_sp proceeds, 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 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 proceeds until Lender has had an opporlunity to inspect such Property to ensure the
<br />work has been completed to Lender's satisfaction, provided that such insgection sha11 be undertaken
<br />prompfly. 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 />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 Borrower
<br />shall not be paid out of the �nc�Tansp proceeds and shall be the sole obligation of Borrower. If the restoration
<br />or repair is not economically feasible or Lender's security would be lessened, the �n�*�nce proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Borrower. Such �nc,�*ansp proceeds 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 resgond within 30 days to a notice from Lender that the �^m�*�^^P
<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 Progerty under Section 22 or
<br />otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount
<br />not to exceed the amounts tmpaid 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 Borrower} under all
<br />insurance policies covering the Property, insofu as such rights are applicable to the coverage of the
<br />Property. Lender ma.y use the insurance proceeds either to repair or restore the Property or to pay amo»n c
<br />unpaid under the Note or this 5ecurity 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 da.ys after the execution of this Security 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 />agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances
<br />exist which are beyond Borrower's control.
<br />7. Preservation, Maintenence 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 Property. Whether
<br />or not Boaower is residing in the Property, Borrower 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 />Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Properiy
<br />if damaged to avoid fiurther deterioration or damage. ff inc�,�nce or condemnation proceeds are 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 relea.sed proceeds for such purposes. Lender may disburse proceeds
<br />NEBRASKA-Singla Family-Fannia Mea/Fretldle Mac UNIFORM INSTRUMENT
<br />VMP �
<br />Woltars Kluwar Flnarxlal Sarvicas
<br />Form 3028 1lOt
<br />VMP81NE) (11061.00
<br />Paee 7 of 17
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