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20�2071�4
<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 shall name Lender as mortgagee
<br />and/or as an additional loss payee, Lender sI�all have the right to hold the policies and renewal certificates. If
<br />Lender requires, Borrower shall prompfly give to Lender all receipts of paid premiums and renewal notices.
<br />If Borrower obtains any form of inc�n,n� coverage, not otherwise required by Lender, for damage to, or
<br />destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as
<br />mortgagee andlor as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may
<br />make proof of loss if not made prompfly by Bozrower. Unless Lender and Borrower otherwise agree in
<br />writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be
<br />applied to restoration or repair of the Property, if the restoration or repair is economically feasible and
<br />Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to
<br />hold such insivance proceeds until Lender has had an opportunity to inspect such Properiy to ensure the
<br />work has been completed to Lender's satisfaction, provided that such inspection shall be underta.ken
<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 agreement is m�ade in writing or Applicable Law
<br />requires interest to be paid on such �n�*ansp proceeds, Lender shall not be required to pay Borrower any
<br />interest or earnings on such proceeds. Fees for public adjusters, or other third parties, reta.ined by Borrower
<br />shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower, If the restoration
<br />or repair is not economically feasible or Lender's security would be lessened, the insurauce proceeds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, ff any,
<br />paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower abandons the Properiy, Lender may file, negotiate and settle any available insurance claim and
<br />related matters. ff Borrower does not respond within 30 days to a notice from Lender that the insurance
<br />carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will
<br />be$in when the notice is given. In either event, or if Lender acquires the Property under Secdon 22 or
<br />otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any +nc��*ance proceeds in an amount
<br />not to exceed the amounts uupaid under the Note or this Security Instru�ment, and (b) any other of
<br />Bonower's rights (other than the right to any refund of unearned premiums paid by Bonower) under al1
<br />insurance policies covering the Property, insofar as such rights are applicable to the coverage of the
<br />Property. Lender may use the �nc� proceeds either to repair or restore the Pmperty or to pay amounts
<br />unpaid under the Note or this Security Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Pro�rly as Borrower's principal residence
<br />within 60 days after the execution of this Security Instrument and shall continue to occupy the Progerty as
<br />Borrower's principal residence for at Ieast one year after the date of occupancy, unless Lender otherwise
<br />agrees in writing, which consent sha11 not be unreasonably withheld, or unless extenuating circumstances
<br />exist which are beyond Borrower's control.
<br />7. Preservetion, Meintenance and Protection of the Property; Inspecfions. Bonower shall not destroy,
<br />damage or impair fhe Property, allow the Properly to deteriorate or commit waste on the Property. Whether
<br />or not Bozrower is residing in the Progerty, Borrower shall maintain tb.e Property in order to prevent the
<br />Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
<br />Section 5 that repair or restoration is not economically feasible, Bonower shall promptly repair the Property
<br />if damaged to avoid further deterioration or damage. If �nc�*an� or condemnation proceeds are paid in
<br />connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or
<br />restoring the Properiy only if Lender has released proceeds for such purposes. Lender may disburse proceeds
<br />NEBRASKA-Single Femily-Fannie Mae/Freddia Mac UIYfFORM INSTRUMENT Form 3028 1/01
<br />VMP � VMPB{NEI (1106►.00
<br />Walmra Kluwar F(nanctal Servicas Page 7 of 17
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