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201207092
<br /> All insurance policies rcquired by Lender and renewals of such policiec shall be subject to Lender's right to
<br /> disapprove,uch policies, shall include a s*.andard mortgagc clause, and shall namc Lender as morCgagcc
<br /> and/or as an addikonal loss payee. Lender sha1l fiave the right to hold the polices and renewal certificaEes. If
<br /> Lcnder requires, Borrower sl�all proinptly give to Lender all receipts of paid premiums and renewal noticcs.
<br /> If Barrower obtains any form of insuiance cowerane, not otherwise required by L,ender, for damage to, or
<br /> destruction pf, the Property, such golicy shall include a standard inortgage el2use and shall name Leader as
<br /> mortgagee and,'or as an addifional loss payce.
<br /> v�the event of 1oss, Borrower shall glve proxnpt notice to the ins�aace carrier and Lenda. Lender may
<br /> makc proof of loss if not made promptly by Sorrower. Unless Lcnder and Borrower othcrwise agree in
<br /> writina, any uisurance proceeds, �hether or not the underlying insuranec was required by Lendc;r, shall be
<br /> applied to restoration or repair of the Property, if the rest�rarion or repair is ecanomically feasible and
<br /> Lendzi's securitv is not le,sened. During such repair and restoralion period, I,ender shal;havc the righi to
<br /> hold such insurance proceeas until Lender has had an opportunity to inspect suc;h Property to ensure tlze
<br /> w�rk has been completed to Lender's satisfaction, provided that such inspeetion shall be cmdertaken
<br /> promptlp_ L�dcr may disburse proceeds for the rcpaits and restoration in a single payment or in a series of
<br /> pro�'ess payments as the work is completed. Unless an ageexnent is made in writing or Appllcable Law
<br /> requiies iuterest to be paid on such insutance proceed.s, Lender shall not be required to pay Borrower any
<br /> interest or earnings on such procceds. Fees for public adjusters, or other third parties, retained by Borrower
<br /> shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrowzr. If the restoration
<br /> or repair is not eeonomically f€asible or Lender's securit9 would be lessened, the insur�ce proceeds sha11 be
<br /> applied to the sums secured by this$ec�ity I�istrutnent, whether or pot(Fien due, wrth the exeess, if any,
<br /> paid to Borrower. Such insuruice nroceeds shall be appfied.ui flie order provided for in Section 2.
<br /> _ If Borroarer abandons the Propc,�-ty, Lender may file, negotiate and settle any av<tilable insurance claim and
<br /> related mafters. If Boaower does not respond within 30 days to a nofice froin Lender that the insuxance
<br /> carrier has offered to settle a claim, then Lender may negoriate and settle Che claim "llic 30-day period will
<br /> begin when the notice is given. In either event, ar if Lender acquues the Properiy under Section 22 or
<br /> otheawise, Borrower hereby assigns to Lender(a)Borrow•er's rights to any insurance proceeds in an amount
<br /> not to exceed the amounts unpaid Lmder the Note or this Security Instrument, and(b) any other of
<br /> Borrower s rights (other than the right to any refimd of uneazned premiums paid 6y Borro�ver)under all
<br /> insurauce poiicies covering the Prcrperty, insofaz as such rights arc applieable to the coverage of the
<br /> Properiy. Lender�nay use the instu�ce proceeds elther to repair or restore the Pxoperty or to pay amounts
<br /> unpaid under Thc Note or this Security lnstzlunent, whether or not Lhen due.
<br /> 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borro�rer's principai residence
<br /> within 60 days a$ex the execution o£this Security Instnunent and shnll continne to occupy ihe PruperLy as
<br /> Bonower's principal xesidence for at least one yeaz after flie date of ocaipancy, unless Lander otherwise
<br /> agxees in writing, which consent sha7i not be utaeasonably withheld, or imless exteauaring circumstances
<br /> e�st which are Ueyond Borrower's control.
<br /> 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not desuoy,
<br /> damaae o�'impair the Propexty, allow the Paoperty to d0teriorate or coimnit waste on the Property. Wliet}aer
<br /> oi nok Bonower is residing in.the Properiy, Borrower sLali maintain the Property in order to prevent the
<br /> Property som deieriorating or decreasing ui value due to its condirion. Unless it is determined pursuani to
<br /> Section 5 tha±repair or restoration is not economically fea�ible, Borrower shall prompdy repair the Property
<br /> if rlatnagzd to avoid further deterioration or damage. If insurance or condeinnation proceeds aze paid in
<br /> connection wifn damage to, or the taldng of, the Property, Borrower shall be respQnsible for repairing ar
<br /> restoring the Property only if Lender has released groceeds for such pLuposes. L ender may di�burse proceeds
<br /> 2C001932
<br /> NFBRASKA-Sin�le Family-Fsnpis MasiFreddie M ac UNIFORIvI IRSTRUM ENT Porn 3028 V01
<br /> VMP� VMP6(NE)(11a5)
<br /> WoltersKluwer inanciai5ewices Page�oF1]
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