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201204276 All insutance golicies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall prompfly give to Lender all receipts of paid premiums and renewal notices. If Bortower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or deslruction o� the Properiy, such policy sha11 include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee, In the event of lass, Borrower sball give prompt notice to the insurance catrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any in��nce proceeds, whether or not the underlying insivance was required by Lender, shall be applied to restorarion or repair of the Property, if the restoxation or repair is economically feasible and Lender's secttt�ity is not lesseaed. Duting such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunily to inspect such Ptoperty to ensure the work has been completed to Lender's satisfacrion, provided that such inspection shall bs underlaken promptly. Lender may disburse proceeds for tbe repairs and restoiarion in a single payment or in a series of pmgress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on euch proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insutauce proceeds and shall be the sole obligation of Bortower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurauce proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Bonower. Such insutauce proceeds shall be applied in the order provided for in Secrion 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim aad relaYed matters. If Borrower does not respond within 30 days to a notice from Lender that the inswance cartier has offered to settle a claim, then Lendet may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Secrion 22 or othervvise, Borrower hereby assigns to Lender (a) Bortower's rights to any insuraace proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Insttument, and (b) any other of Borrower's rights (other than the right to aay refund of unearned premiittns paid by Borrower) under all insurance policies covering the Properiy, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore tbe Property or to pay amounts unpaid under the Note or this Security Inslrument, whether or not fhen due. 6. Occupancy. Borrower shall occupy, establieh, and use the Property as Bortower's principal residence within 60 days aftet the execution of this Security Instrument and shall continue to occupy the Property as Boaower's principal residence for at lw.st one year aftet the date of occupancy, unless Lender otherwise agrees in writing, which consent sha.11 not be cmreasonably withheld, or unless extenuating circvmstances exist wluch ate beyond Borrower's control. 7. Preservation,Maintenanceand Protectionof the Property; Inspections.Bonower shall not destroy, damage or impair the Property, allow the Property to deterioiate or commit waste on the Property_ Whether or not Barrower is reaiding in the Property, Borrower shall maintain the Pmperty in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoia.tion is not economically feasible, Borrower shall promptly repa'vr the Property if damaged to avoid further detetioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be respansible for regairing or resforing the Praperiy only if Lender has released proceeds for such purposes_ Lender may disburse proceeds NEBRASKASingle Family-Fannia MaelFreddie Mac UNIFORM INSTRUMENT Fonn 30281l01 yp�p � VMpB(NEj {11U6).00 Wolte�a Kluwer Flr��ial Servicea Pege 7 of 1T