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20120624�
<br />All insurance policies required by Lender and renewals of such policies shall be subje,ct 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, Bonower shall promptly give to Lender all receipts of paid premiums and renewal norices.
<br />If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or
<br />destrucrion of, the Property, such policy shall include a standazd mortgage clause and shall name Lender as
<br />mortgagee and/or as an additional loss payee.
<br />In the event of loss, Bonower shall give prompt notice to the insurance carrier and Lender. Lender may
<br />make proof of loss if not made promptly by Bonower. Unless Lender and Bonower otherwise agr� in
<br />writing, any insurance proc,eeds, whether or not the underlying insurance was required by Lender, shall be
<br />applied to restorarion or repair of the Property, if the restoration or repair is �: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 procee�s until Lender has had an opportunity to inspect such Property to ensure the
<br />work has been completefl to Lender's sarisfaction, provided that such inspecrion 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 agree�nent 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 proceeds. 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 Borrower. If the restorarion
<br />or repair is not economically feasible or Lender's security would be lessened, the in�,�rance proceeds shall be
<br />applied to the sums s�ured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Bonower. Such insurance proceeds shall be applie� in the order provid� for in S�tion 2.
<br />If Bonower abandons the Property, Lender may file, negotiate and settle any available �nc��ran� claim and
<br />related matters. If Bonower does not respond within 30 days to a norice from Lender that the �n�
<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 Secrion 22 or
<br />otherwise, Borrower hereby assigns to L,ender (a) Bonower's rights to any insurance procceds in an amount
<br />not to excee� the amounts tmpaid 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 are applicable to the coverage of the
<br />Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts
<br />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 Borrower's principal residence
<br />witbin 60 days after the execution of this Securiry 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 otherwise
<br />agrees in writing, which consent shall not be unreasonably withheld, or unless extenuazing circ
<br />exist which aze beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not desixoy,
<br />damage or impair the Properly, allow the Property to deteriorate or commit waste on the Property. Whether
<br />or not Bonower is residing in the Property, Bonower shall maintain the Property in order to prevent the
<br />Property from deterioraiing or decreasing in value due to its condirion. Unless it is determined pursuant to
<br />Section 5 that repair or restoration is not economically feasible, Bonower shall promptly repair the Properiy
<br />if damaged to avoid further deterioration or damage. If insurance or condemnarion proceeds aze paid in
<br />conn�rion with dama.ge to, or the taking of, the Properiy, Bonower shall be responsible for repairing or
<br />restoring the Property only if Lender has released proc,eeds for such purposes. Lender may disburse proceeds
<br />NEBRASKA-Single Family-Fannle MaelFreddie Mac UNIFORM INSTRUMENT
<br />VMP Q
<br />Wolters Kluwer Financial Services
<br />Fo.�, so2s �ro�
<br />VMP81NE) (1105)
<br />Page 7 of 17
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