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201206540 or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obllgaHon of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and setde any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under SecHon 22 or otherwise, Borrower hereby assigns to Lender (a) Bonower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Inshvment, and (b) any other of Bonower's rights (oWer Wan the rlght to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as suc6 rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore We Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Bonower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless eJCtenuating circumstances exist which are beyond Borrower's control. 7. Pre.gervation, Maintenance and Prote,ction of the Property; Inspe,ctions. Borrower shall not destroy, damage or impair the Properly, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Properly from deteriorating or decreasing in value due to its condiflon. Unless it is determined pursuant to Section 5 that repair or restoraHon is not economically feasible, Borrower shall prompfly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Properly only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as We work is completed. If the insurance or condemnation proceeds are not suff'icient to repair or restore the Property, Borrower is not relieved of Bonower's obligation for the completion of such repair or restoratlon. Lender or its agent may make reasonable entries upon and inspecrions of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interIor inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or enflties acting at the direction of Bonower or with Borrower's knowledge or consent gave materlally false, misleading, or inaccurate informaflon or statements to Lender (or failed to provide Lender with material information) in NEBRA$R�l — Single FamllY -- F�nia Mee/Fraddio Maa UHIFORM IN�1'RIJA�Nf Farm 3028 V01�� GCC - G3028-08 (09/Ol) (Page 8 of19) Initials: