|
201 20453�
<br />If Bonower abandons the Property, 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 carrier
<br />has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when
<br />the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower
<br />hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts
<br />unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to
<br />any refund of unearned premiums paid by Bonower) under all insurance policies covering the Properiy, insofaz as
<br />such rights are applicable to the coverage of the Properiy. Lender may use the inswance proceeds either to repair or
<br />restore the Properiy or to pay amounts unpaid under the Note or this Security 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 yeaz after the date of occupancy, unless Lender otherwise agtees
<br />in wriring, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which
<br />are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not
<br />destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property.
<br />Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent
<br />the Pmperty from deteriorating or decreasing in value due to its condition. Unless it is deternuned pursuant to
<br />Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property
<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 Properly only if Lender has released proceeds for such purposes. Lender may disburse proceeds
<br />for the repairs and restoration in a single payment or in a series of progress payments as the work is completed.
<br />If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Bortower is not
<br />relieved of Borrower's obligation 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
<br />cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower
<br />norice at the time of or prior to such an interior inspection specifying such reasonable cause.
<br />8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process,
<br />Borrower or any persons or entities acting at the d'uection of Borrower or with Borrower's knowledge or consent
<br />gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender
<br />with material information) in connection with the Loan. Material representations include, but are not limited to,
<br />representations concerning Borrower's occupancy of the Properly as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument
<br />If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there
<br />is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under
<br />this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for
<br />enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations),
<br />or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or
<br />appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including
<br />protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's
<br />actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this
<br />Security Instrument; (b) appearing in court; and (c) paying reasonable attomeys' fees to protect its interest
<br />in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy
<br />proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change
<br />locks, replace or boazd up doors and windows, drain water from pipes, eliminate building or other code
<br />violations or dangerous conditions, and have utilities tumed on or off. Although Lender may take action under
<br />this Section 9, Lender does not have to do so and is not under any duty or obligarion to do so. It is agreed that
<br />Lender incurs no liability for not taking any or all actions authorized under this Section 9.
<br />NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INS1'RUMENT Forro 3028 1/01
<br />NEBRASKA-MERS d��O��
<br />ITEM 2898L7 (072811) (Page 7 d 15)
<br />
|