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2012U�7�3
<br />amounts sha11 bear interest at the Note rate from the date of disbursement and shall be payable, with such interest,
<br />upon notice from Lender to Bonower requesting payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br />disapprove such policies, sha11 include a standazd mortgage clause, and shall name I,ender as mortgagee and/or as an
<br />additionalloss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires,
<br />Bonower sha11 promptly give to Lender all receipts of paid premiums and renewal norices. If Borrower obtains any
<br />form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such
<br />policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss
<br />payee.
<br />In the event of loss, Bonower shall give prompf notice to the insurance carrier and Lender. Lender may make
<br />proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agr� in writing, any
<br />insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration
<br />or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened.
<br />During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender
<br />has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,
<br />provided that such inspection sha11 be undertaken promptly. Lender may disburse proceeds for the repairs and
<br />restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement
<br />is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender sha11 not be
<br />required to pay Bonower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties,
<br />retained by Bonower shall not be paid out of the insurance proceeds and shall be the sole obligation of Bonower.
<br />If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds
<br />shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid
<br />to Bonower. Such insurance proceeds sha11 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 Bonower does not respond within 30 days to a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the
<br />notice is given. In either event, or if Lender acquires the Property under Se,ction 22 or otherwise, Bonower hereby
<br />assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid
<br />under the Note or this Security Instrument, and (b) any other of Bonower's rights (other than the right to any refund
<br />of unearned premiums paid by Bonower) under all insurance policies covering the Property, insofaz as such rights
<br />are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the
<br />Property or to pay amounts 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 Borrower's principal residence
<br />within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Bonower's
<br />principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which
<br />consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Bonower's
<br />contral.
<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 Property. Whether or not
<br />Borrower is residing in the Property, Bonower shall maintain the Property in order to prevent the Properly from
<br />deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to 5ection 5 that repair or
<br />restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further
<br />deterioration or damage. If insurance or condemnation proceeds aze paid in conn�tion with damage to, or the taking
<br />of, the Property, Borrower sha11 be responsible for repairing or restoring the Property only if Lender has released
<br />proceeds for such purposes. Lender may disburse proc.eeds for the repairs and restoration in a single payment or in
<br />a series of progress payments as the work is completed. If the insurance or condemnation procee�s are not sufficient
<br />to repair or restore the Property, Bonower is not relieved of Bonower's obligation for the completion of such repair
<br />or restoration.
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DocMeg/c�
<br />Form 3028 1/01 Page 6 of 14 www.docmagk.com
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<br />Ne3028.dot.�1
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