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20120338�
<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 mortgag�
<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 promptly give to Lender all receipts of paid premiums and renewal notices.
<br />If Borrower obtains any form of insurance coverage, not otherwise requireri by Lender, for damage to, or
<br />destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as
<br />mortgag� and/or as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may
<br />make proof of loss if not made promptly by Bonower. Unless Lender and Bonower otherwise agr� 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 />Lender's s�urity 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 opporiunity to inspect such Property to ensure the
<br />work has b�n completed to Lender's sarisfaction, provided that such inspecrion shall be undertaken
<br />promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a seri� of
<br />progress payments as the work is completed. Unless an agr�ment is made in writing or Applicable Law
<br />requires interest to be paid on such insurance proceeds, Lender shall not be re�uired to pay Borrower any
<br />interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Bonower
<br />shall not be paid out of the insurance proceeds and shall be the sole obligation of Bonower. If the restoration
<br />or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by tlus Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Borrower. Such insurance proceeds shatl be applied in the order provided for in Section 2.
<br />If Borrower abandons the Properly, 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
<br />carrier has offered to settle a claim, then Lender may negoriate 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, Bonower hereby assigns to Lender (a) Bonower's rights to any insurance proceeds in an amount
<br />not to exc�d the amounts unpaid under the Note or this Security Instrument, and (b) any other of
<br />Bonower's rights (other than the right to any refund of unearnefl premiums paid by Borrower) under all
<br />insurance policies covering the Property, insofar as such rights are applicable to the coverage of the
<br />Property. L,ender may use the insurance proceeds either to repair or restore the Property or to pay amounts
<br />unpaid under the Note or this S�urity Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Bonower's principal residence
<br />within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as
<br />Bonower's principal residence for at least one year after the date of occupancy, unless Lender otherwise
<br />agr�s in writing, which consent shall not be unreasonably withheld, or unl�s extenuating circumstanc�
<br />exist which aze beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not d�troy,
<br />damage or impair the Property, allow the Property to deteriorate or commit waste on the Properiy. Whether
<br />or not Borrower is residing in the Properiy, Bonower shall maintain the Property in order to prevent the
<br />Properiy from deteriorating or d�reasing in value due to its condition. Unless it is determined pursuant to
<br />S�tion 5 that repair or restoration is not ec:onomically feasible, Bonower shall promptly repair the Property
<br />if damageri to avoid further deterioration or damage. If insurance or condemnation proceeds aze paid in
<br />conne�tion with datnage to, or the taldng of, the Property, Bonower shall be responsible for repairing or
<br />restoring the Property only if Lender has released procceds for such purposes. Lender may disburse proceeds
<br />NEBRASKA-Single Family-Fannle Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />VMP Q VMPB(NE) (1105)
<br />Wolters Kluwer Finandal Servicea Page 7 of 17
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