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201205304
<br />amounts sha11 bear interest at the Note rate from the date of disbursement and shall be payable, with such interest,
<br />upon notice from Lender to Bonower requesting payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br />disapprove such policies, sha11 include a standazd mortgage clause, and shall name Lender as mortgagee and/or as an
<br />additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires,
<br />Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Bonower obtains any
<br />form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such
<br />policy shall include a standard mortgage clause and shall name Lender as mortgagce and/or as an additional loss
<br />payee.
<br />In the event of loss, Borrower sha11 give prompt notice to the insurance carrier and Lender. Lender may make
<br />proof of loss if not made promptly by Bonower. Unless Lender and Bonower otherwise agree in writing, any
<br />insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration
<br />or repair of the Property, if the restoration or repair is e,conomically feasible and Lender's se,curity is not lessened.
<br />During such repair and restoration period, Lender sha11 have the right to hold such insurance proceeds until Lender
<br />has had an opportunity to insp�t such Property to ensure the work has been completed to Lender's satisfaction,
<br />provided that such inspection shall be undertaken promptly. Lender may disburse proceecis for the repairs and
<br />restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement
<br />is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be
<br />required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties,
<br />retained by Borrower shall not be paid out of the insurance proceeds and sha11 be the sole obligation of Bonower.
<br />If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance procceds
<br />shall be applied to the sums secured by this 5ecurity Instrument, whether or not then due, with the excess, if any, paid
<br />to Bonower. Such insurance procee�is 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 Bonower does not respond within 30 days to a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender ma.y negotiate and settle the claim. The 30-day period will begin when the
<br />notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Bonower hereby
<br />assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid
<br />under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund
<br />of unearned premiums paid by Bonower) under all insurance policies covering the Property, insofar as such rights
<br />are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the
<br />Property or to pay amounts unpaid under the Note or this S�urity Instrument, whether or not then due.
<br />6. Occupancy. Bonower shall occupy, establish, and use the Property as Bonower's principal residence
<br />within 60 days after the execution of this Security Instrument and sha11 continue to occupy the Property as Borrower's
<br />principal residence for at least one year after the date of occupancy, unless Lender otherwise agre,es in writing, which
<br />consent sha11 not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's
<br />control.
<br />7. Pr�servation, Maintenance and Protection of the Property; Inspections. Bonower shall not destroy,
<br />damage or impair the Property, a11ow the Property to deteriorate or commit waste on the Property. Whether or not
<br />Bonower is residing in the Property, Bonower shall maintain the Property in order to prevent the Properly from
<br />deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Se,ction 5 that repair or
<br />restoration is not economical�y feasible, Bonower sha11 promptly repair the Property if damaged to avoid fiurther
<br />deterioration or damage. If insurance or condemnation proceeds aze paid in connection with damage to, or the taking
<br />of, the Property, Bonower shall be responsible for repairing or restoring the Property only if Lender has released
<br />proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in
<br />a series of progress payments as the work is completed. If the insurance or condemnation proceeds aze not sufficient
<br />to repair or restore the Property, Bonower is not relieved of Borrower's obligation for the completion of such repair
<br />or restoration.
<br />NEBRASKA--Single Femily--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />Form 3028 7/01 Page 6 of 14
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