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201205217
<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 mortgagee
<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 required by Lender, for damage to, or
<br />destruction of, the Property, such policy shall include a standazd 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 Bortower. Unless Lender and Borrower otherwise agres 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 ec:onomically 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 opportunity to inspect such Property to ensure the
<br />work has been completed to Lender's satisfaction, provided that such insp�tion shall be undertaken
<br />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
<br />requires interest to be paid on such insurance proceeds, Lender shall not be requirefl to pay Borrower any
<br />interest or earnings on such procee�s. 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 LQnder's security would be lessened, the insurance proceeds shall be
<br />applied to the sums s�ured by this Security Instrument, whether or not then due, with the exc,�s, if any,
<br />paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If Bonower abandons the Property, Lender may file, negotiate and settle any available insurance claim and
<br />related matters. If �nower 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 negotiate 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 S�rion 22 or
<br />otherwise, Bonower hereby assigns to Lender (a) Bonower's rights to any insurance proceeds in an amount
<br />not to exceed 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 unearned premiums paid by Borrower) under all
<br />insurance policies covering the Property, insofar as such rights aze applicable to the coverage of the
<br />Properly. Lender may use the �n�,�,�nce proceeds either to repair or restore the Property or to pay amounts
<br />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 ex�ution of this Security Instrument and shall continue to occupy the Progeriy as
<br />Bonower's principal residence for at least one year after the date of occupancy, unless Lender otherwise
<br />agrces in writing, which consent shall not Ue unreasonably withheld, or unless extenuating circumstances
<br />exist which aze heyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Bonower shall not deslroy,
<br />damage or impair the Property, allow the Properry to deteriorate or commit waste on the Property. Whetl�er
<br />or not Bonower is residing in the Properiy, Bonower shall maintain the Property in order to prevent the
<br />Properly from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
<br />S�tion 5 that repair or restoration is not economically feasible, Bonower shall promptly repair the Properiy
<br />if damagefl to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in
<br />conn�tion with damage to, or the taking of, the Property, Bonower shall be responsible for repairing or
<br />restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse procceds
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />VMP Q
<br />Woltera Kluwer Financial Servic�
<br />Fo� soze iro�
<br />VMP6INE) (1i05)
<br />Pege 7 of 17
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