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20��02���
<br />All insurance gnlicies 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 additipnal.loss payee. Lender shall ha.ve the right to hold the policies and renewal certificates. If
<br />Lender requires, Borrower shall promptly give to Lender all receipts of paid premittms and renewal notices.
<br />If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or
<br />destruction of, the Properiy, such policy shall incIude a standard mortgage clause and shall name Lender as
<br />mortgagee andlor as an additionalloss payee.
<br />In the event of loss, Borrower shall give prompt notice to the �n�„��p �er and Lender. Lender may
<br />make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in
<br />writing, any insurance 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 />I.ender's security is not lessened, During such repair and restoration period, Lender shall have the right to
<br />hold such �ncnransP proceeds until Lender has had an opgortunity to inspect such Properiy to ensure the
<br />work has been completed to Lender's satisfaction, provided that such inspection 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 />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 insurance proceeds and shall be the sole obligadon of Borrower. If the restoration
<br />or repair is not economically feasible or Lender's security would be lessened, the �nc�ranc,e pro�eeds 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 insurance proceeds shall be applied in the order provided for in Section 2,
<br />If Borrower abandons the Progerty, 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 insurance
<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 Property under Section 22 or
<br />otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amounf
<br />not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of
<br />Borrower's rights (other than the right to any refund of uuearned premiums paid by Borrower) under all
<br />insurance policies covering the Progeriy, insofaz as such rights aze applicable to the coverage of the
<br />Property. Lender may use the �ncr,ran� proceeds either to repair or restore the Property or to pay amounts
<br />u�aid under the Note or this Security Instrument, whether or not then due.
<br />6. Occupency. 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
<br />Borrower's principal residence for at least one year after the da.te of occupancy, unless Lender otherwise
<br />agrees in writing, which consent suall not be unrea,sonably withheld, or unless extenuating circumstances
<br />exist which aze beyond Borrower's control.
<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 Progerty. 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 />5ection 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Properly
<br />if damaged to avoid further deterioration or damage. If insurance 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 released proceeds for such purposes. Lender may disburse proceeds
<br />NEBRA5KA-Singla Famlly-Fannla Mea/Freddle Mac UNIFORM INSTRUMENT Form 9028 1i01
<br />� � ' YMPB{NE) f11061.00
<br />Wolmrs Kluwer Flnarxial Sarvicas Raga 7 of 17
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