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201�0273�
<br />All +nc��nsp 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 additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If
<br />Lender requires, Borrower shall prompfly give to Lender all receipts of paid premiums and renewal notices.
<br />If Borrower obtains any form of �nc�,ra�p coverage, not otherwise required by Lender, for damage to, or
<br />destruction of, the Property, such golicy shall include a standard mortgage clause and shall name Lender as
<br />mortgagee andlor as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the +nc�*ansp 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 insurance proceeds, whether or not the underlying �nc� was required by Lender, shall be
<br />applied to restora.tion 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 restora.tion period, Lender shall have the right to
<br />hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the
<br />work has been completed to Lender's satisfaction, provided that such inspection shall 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�,ran� 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 �nc�*ansp 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 inc�,ransp 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. ff Borrower does not resgond within 30 days to a notice from Lender that the inc�,�nsp
<br />carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day geriod will
<br />begin when the notice is given. In either event, or if Lender acquires the Property 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 uupaid under the Note or this Security Instnunent, and (b) any other of
<br />Borrower's rights (other than the right to any refund of uneamed premiums paid by Borrower) under all
<br />insurance policies covering the Property, insofar as such rights are applicable to the coverage of the
<br />Properiy. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts
<br />unpaid under the Note or this Security Inst�vment, 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 occupy the Properiy 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 Bortower's control.
<br />7. Preservation, Mainten�nce 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 Borrower 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 Property
<br />if damaged to avoid fiuther deteriora.tion 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-Farmia Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />VMP � VMP81NE) (1106).00
<br />Woltars Kluwer Financfal Sarvices Paga 7 of 17
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