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20120669� or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation 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 Z. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that We insurance carrier has offered to settle a claim, then Lender may negoNate and settle the claim. The 30-day perlod will begin when the norice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Bonower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Inshwnent, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance pollcies covering the Property, insofar as such rights are applicable to the coverage of the Properly. Lender may use the insurance proceeds either to repair or restore the Properly or to pay amounts unpaid under the Note or this Securily Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence witl�in 60 days after the execution of this Securlty Instrument and shall continue to occupy We Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writ3ng, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist wlrich are beyond Bonower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Bonower shall not destroy, damage or impair the Property, allow the Property to deterlorate 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 Property from deterIorating or decreasing in value due to its condiflon. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall prompdy repair the Property if datnaged to avoid further deterioration or damage. If insurance or condetnnation proceeds are paid in connecHon with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring We Property 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 the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Bonower's obliga8on for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the itnprovements on the Property. Lender shall give Borrower notice at the time of or prlor 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 Borrower or with Borrower's knowledge or consent gave materially faLse, misleading, or inaccurate informaflon or statements to Lender (or failed to provide Lender wiW material iaformation) in NEBRASRA — Single FamllY -- F�oio Mae/Freddie Mac UI�+ORM IN3fRUMCNI' Fmm 3028 1 GCC - G3028-08 (09/Ol) (Page 8 of19) Iaitials: