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201203679
<br />amounts sball. bear interest at the Note rate from the date of disbursement and shall be payable, witti such interest,
<br />upon notice from Lender to Borrower requesting paymern.
<br />AII msivance policies required by Lender and. renewals of such policies shall be subje.ct to Lender's right to
<br />disapprove such policies, shall inclnde a standard mortgage clause, and shatl name Len,der as mortgag� andlor as aa
<br />additional Ioss payee. Y.ender shall have the right to hold tlie policies and renewal certificates. If L�nder rex�uires,
<br />Borrower shall promptly give to Lender all rec�ipts of paid premiams and renewal notic�,s_ I.f Borrower obtains any
<br />form of insuxanca covenge, not otherwise required by J ender, for damage to, or dest�vction of, the Properly, such
<br />policy shall include a standard mortgage clavse and shall name Lender as mortgagee and/or as an additional loss
<br />payee.
<br />Tn the event of loss, Borrower shall give pzompt notice w the insuranc� carrier and Lender. Lender may make
<br />proof of Ioss if not made Promptly by Borrower. Unless I.ender and Bonower otherwise agrae in writing, any
<br />insur�uace proc�eds, whether or not the underlying insurance was required by J.sader, shall be appli� to restflration
<br />or repaiz of the Property, if the restoration or re,�air is �;onomicaIly feasible and Lendez's security is not lessened.
<br />During such repair and restozation period, T..ender shall have tbe right to hold such ins�uance proceecis vntil Lender
<br />b�as had an opportunity to inspect such Property to ensure the work has beea compieted to Lender's satisfaction,
<br />provided that such iaspection shall be undertaken pzo�oaptly. Le�zder may disbtuse proceeds for the repairs and
<br />restorarion in a single payment or in a series of progress payments as the work is completeci. Unless an agreement
<br />is made in wriung oz Applicabie Law requires interest to be pazd on such insurance pzoceeds, Lender shatl not be
<br />reqtiired to pay Borrowez any interest or earnings on such proceeds. Fees for public adjusters, or other tl�ird parties,
<br />retaine.d by Borrower shall not be paid out of the insurance pracceds and shall be the sole obligafion of Borrower.
<br />If the restozation or repair is not �onomically feasible or Lender's s�urity would be les.sen�ad, the insuzance praceeds
<br />shall be appIied to the sumas seaued. bq this Sectuity Tn. �**+�±, whether or not then due, with the esc�ss, if aay, paid
<br />to Borrower. S�ich insurance proceeds shall be applied in the order provided for in Secrion 2.
<br />If Boirower abaadons tlze 1'roperiy, Lender ma.y ftle, negotiate and settle any avarilable insurauce claim and
<br />zelated matters. If Borrower does not respond within 30 days to a notice from T ender that �the insurancx carcier b�as
<br />offered to sett�e a claim, then Lendez Aaay negotiate an@ settte the claim. 'The 30-daq period wilI begin when the
<br />notice is given. Tn either eveirt, or if Lender acquires the Property under Section 22 or otherwise. Borrower hereby
<br />assigns to Lender (a) Boaower's rights to any insurancQ prove�ds ia an amourn not to exceed the amonnts u�aid
<br />under the Note or this Sec�ity Inst�ument, and @) auy other of Boaower's rights (ofher than the right to any refund
<br />of uneanaed premiums paid by Borrower) nnder all insuxance golicies covering the ProPerty, insofar as such rights
<br />aze applicable to t�e coverage of the Property. Lender naay use the insurance proceeds either to repair or re,store the
<br />Property or to pay amaunts wapaid under the Note or this Security Insuvment, whether or not the� due.
<br />6. Occugancy. Borrower sball occupy, establish, and use the Property as Borsower's principal r�idence
<br />within 60 days after the ex�on of this Sac�mty Iustrumevt and shall contirnie to occupy the Property as Boao�ver's
<br />principal residence for at least o.ne year after the date of ocxupancy, unless Lender otherwise agrees in writing, which
<br />conse�t shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's
<br />control.
<br />'7. Preservatioa, Main#e�oiance and Protection of the Pioperty; Taspedians. Bonrower shaU not destroy,
<br />damage or impair the Property, allow the �operry to deteriorate or commit waste on the Property. Whether or not
<br />�rrower is residing in. the Property, Borrower sbatl mai�ain the Property im order to prevent the Property f,rom
<br />deteriorating or decreasing in value due to its condition. Unless it is determined gi�suant to Section 5 that repair or
<br />restoration is not econamically feasible, Bozrower shall prom�ptly repair the Property zf damaged to avoid fiuthez
<br />deteriozation or damage. If insurance or cond,emnation proceeds ara paid in conne�tion with damage to, or the taidag
<br />of, the Propesty, Bozmwer shall be responsible for repairing or restozivag the Property only if Lender has released
<br />pxoceeds for such. pmposes. L.ender may disburse pzoceeds for the repairs and restoration in a singIe payment oz in
<br />a series of pragress payments as the work is compieYed_ If tb,a insurance or condemnation pzoceeds are not sufficient
<br />to repair or restore the Property, Borrower is not relievefl of Borrower's obligation for the completioa of such repair
<br />or restoration.
<br />NEBRASKA—Single Family—Fannie Mae/Fredd'i UNIFORM INSTR'
<br />Form 3028 1/01 Page 6 of 94
<br />DocAdayrc �
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