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201206044
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br />disapprovo 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 mid renewal certificates. If
<br />Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums End renewal notices.
<br />If Borrower obtains any form of insurance coverage, not other wise required by Lender, for damage to, or
<br />destruction of, the Property, such policy shall include a standard mortgage clause and shall name Leader as
<br />mortgagee and/or as an additional loss payee.
<br />In the event of to,", Borrower shall give prompt notice to the insurance carrier and l.ender. Lender may
<br />make proof of loss if lie( iriade promptly by Borrower. Unless Lender and Borrower otherwise agree 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 die Property, if the restoration or repair is economically feasible and
<br />Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to
<br />hold such insurance proceeds until Leader has had an opportunity to inspect such Property to ensure the
<br />work has been completed to Lender's Satisfaction, pi ovidcd that Such inspection 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 required to pay Borrower any
<br />interest or earnings on such pi oceeds, Fees for public adjusters, ca other third parties, retained by Borrower
<br />shall not be paid out of tile inSUrance proceeds and shall be the sole obligation of Borrower. If the restoration
<br />or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Instrunient, whether or not then due, with the excess, if any,
<br />paid to Borrower, Such insurance proceeds Shall be applied in the order provided for in Section 2 -
<br />If Bof rower abandons the Properly, 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
<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 1,endor acquires the Property under Section 22 or
<br />otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount
<br />lie[ to exceed (lie amounts unpaid urider the Note or this Security Instrument, and (b) any other of
<br />Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all
<br />insurance policies covering die Property, insofar as such rights are applicable to the coverage of the
<br />Property. Leader may rise the insurance proceeds either to repair or restore the Property or to pay amounts
<br />unpaid trader the Note or this Security Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and aNQ the Property as Borrower's principal residence
<br />within 60 days aflor the execution of this Secuffly Instrument and shall continue to occupy the Property as
<br />Borrower's principal residence for at least one year after the date of occupancy, unless Lender other wise
<br />agrees in writing, which consent shall not be umeasonably withheld, or unless extenuating circumstances
<br />exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower Shall not destroy,
<br />damage or impair the Property, allow [lie Property to deteriorate or commit waste on the property, Whether
<br />or not Borrower is residing in the Property, Borrower shall maintain die Property in order to prevent the
<br />Property from deteriof iting or decreasing in value due to its condition. Unlesg it is determined purSUanI 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 Property only if Leader has released proceeds for such purposes. Lender may disburse proceeds
<br />2400i5l
<br />NEBRASKA-Slngle rannily-Farinle MeeiFreddla Mac UNIFORM INSTRUMENT For. 3028 110i
<br />VIVP 0 VK4P6(NE)(110 1�
<br />W alters KIuw or Finan nial Sory Ic us Ilege 7 sf 1
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