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20120366�
<br />inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall
<br />be undertaken 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 requires interest
<br />to be paid on such insurance proceeds, Lender shall not be required to pay Bonower any interest or eaznings on such
<br />proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the �nc�*ance
<br />proceeds and shall be the sole obligation of Borrower. If the restora.tion or repair is not economically feasible or Lender's
<br />security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds sha11 be applied in the order
<br />provided for in Section 2.
<br />If Borrower abandons the Property, Lender may file, negotiate and settle any available �n�*�nce claim and related
<br />matters. If Borrower does not respond within 30 days to a notice from Lender that the instuance carrier has offered to
<br />settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In
<br />either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender
<br />(a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or tius
<br />Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of une,araed premiums paid
<br />by Borrower) under a11 insurance policies covering the Property, insofar as such rights aze applicable to the coverage of
<br />the Property. Lender may use the insurance proceeds either to repair or restore the Properiy or to pay amounts unpaid
<br />under the Note or this Security Instrument, whether or not then due.
<br />6. Occupancy. Bonower sha11 occupy, establish, and use the Property as Borrower's principal residence within 60
<br />days after the execurion of this Security Instrument and shall continue to occupy the Property as Borrower's principal
<br />residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, wluch consent shall
<br />not be unreasonably withheld, or unless extenua.ting circumstances exist wluch are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protect3on of the Property; Inspections. Borrower shall not destroy, datnage
<br />or impair the Property, allow the Properiy to deteriorate or commit waste on the Property. Whether or not Borrower is
<br />residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or
<br />decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not
<br />economically feasible, Bonower shall promptly repair the Properiy if damaged to avoid further deterioration or damage.
<br />If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Properiy, Borrower
<br />sha11 be responsible for repairing or restoring the Properiy only if Lender has released proceeds for such purposes. Lender
<br />may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work
<br />is completed. If the insurance or condemnation proceeds are not sui�cient to repair or restore the Property, Borrower is
<br />not relieved of Borrower's obligadon for the completion of such repair or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause,
<br />Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or
<br />prior to such an interior inspection specifying such reasonable cause.
<br />8. Borrower's Loan Application. Borrower sha11 be in default if, during the Loan application process, Borrower or
<br />any persons or entities acting at the direction of Bonower or with Borrower's lmowledge or consent gave materially
<br />false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material
<br />information) in connection with the Loan. Material representations include, but aze not limited to, representations
<br />concerning Borrower's occupancy of the Property as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Securtty Instrumen� If (a) Borrower
<br />fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that
<br />might sigaificantly afFect I.ender's interest in the Properiy and/or rights under this Security Instrument (such as a
<br />proceeding in bankruptcy, probate, for condemna.tion or forfeiture, for enforcement of a lien which may attain priority
<br />over this Security Instrument or to enforce laws or regulations), or (c) Borcower has abandoned the Property, then Lender
<br />may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this
<br />Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the
<br />NEBRASKA -Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT with MERSForm 3028 1/01 �
<br />Page 8 of 13
<br />ios, i�c. Borrower(s) Initlals �
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