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<br /> amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest,
<br /> upon notice from Lender to Borrower 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,shall include a standard mortgage clause, and sha11 name Lender as mortgagee andfor as an
<br /> additional loss payee. Lender shall have the right to hold the policies and renewal certiFicates. If Lender requires,
<br /> Borrower sha11 promptly give to Lender ail receipts of paid premiutns and renewal notices. If Borrower obtains any
<br /> form of insurance coverage, not otherwise required by Lender, for dainage to,or destruction of, the Property, such
<br /> policy sha11 include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss
<br /> payee.
<br /> In the event of loss,Bonower sha11 give prompt notice to the insurance carrier and Lender. Lender may inake
<br /> proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any
<br /> insurance proceeds, whether or notthe underlying insurance was required by;Lender,shall be applied to restoration
<br /> or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened.
<br /> During such repair and restoration period, Lender shall have the right to hold such insurance proce,eds until L,ender
<br /> has had an opportunity to inspect 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 proceeds 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, L.ender shall not be
<br /> required to pay Borrower any.interest or earnings on such proceeds. Fees for public adjusters,or other third parkies,
<br /> retained by Borrower sha11 not be paid out of the insurance proceeds and sha11 be the sole obligation of Borrower.
<br /> If the restoration or repair is not economically feasible or Lender's security would be lessened,the insurance proceeds
<br /> sha11 be applied to the sun�s secured by this Security Instrument,whether or not then due,with the excess,if any,paid
<br /> to Borrower. Such insurance proceeds sha11 be applied in the order provided for in Section 2.
<br /> lf Borrower abandons the Property, I,ender 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 has
<br /> offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the
<br /> notice is given_ ln either event,or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby
<br /> assigns to Lender(a) Borrower's rights to any insurance proceeds in an amaunt 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 Borrower)under all insurance policies covering the Property, insofaz 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 Security Instruinent, whether or not then due.
<br /> 6. Occupancy. Borrower sha11 occupy, establish, and use the Property as Borrower's principal residence
<br /> within 60 days after the execution of this 5ecurity Instniment and shall continue to occupy the Property as Borrower's
<br /> principal residence for at least one yeaz after the date of occupancy,unless Lender otherwise agrees in writing,which
<br /> consent shall not be unreasonably withheld, or unless extenuaxing circumstances exist which are beyond Borrower`s
<br /> control.
<br /> '7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy,
<br /> damage or impair the Property, a11ow the Property to deteriorate or conunit waste on the Property. Whether or not
<br /> Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Properiy from
<br /> deteriorating or decreasing in value due to its conditivn. Unless it is determined pursuant to Section 5 that repair or
<br /> restoration is not economically feasible, Borrower shall promptly repair the Property if datnaged to avoid further
<br /> deterioration ar damage. If insurance ar condemnation proceeds aze paid in connection with dau�age to,or the ta.king
<br /> of, the Property, Borrower 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 are not sufficient
<br /> to repair or restore the Property,Borrower is not relieved of Borrower's obligation for the completion of such repair
<br /> or restoration.
<br /> � ��
<br /> NEBR A-- ' e Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DocMa,g/c r�
<br /> Form 3028 1/01 Page 6 of 14 www.docnragic.com
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