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201207�9�
<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 shall have the right to hold the policies and renewal certificates. If
<br />Lender requires, Bonower shall promptly give to Lender all receipts of paid premiums and renewal notices.
<br />If Borrower obtains any form of insurance 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 />mortgagce and/or 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 pro�tly by Bonower. Unless Lender and Borrower otherwise agree in
<br />writing, any insurance procseds, whether or not the underlying insurance was required by Lender, shall be
<br />applied to restoration or repair of the Properly, if the restoration or repair is economically feasible and
<br />Lender's s�uriry is not lessenefl. During such repair and restoration period, Lender shall have the right to
<br />hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the
<br />work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender may disburse proc�ds for the repairs and restoration in a single payment or in a series of
<br />progress payments as the work is completed. Unless an agr�ment is made in writing or Applicable Law
<br />r�uires interest to be paid on such insurance proceeris, Lender shall not be requirefl to pay Bonower any
<br />interest or earnings on such procee�s. Fees for public adjusters, or other tlurd parties, retainerl by Bonower
<br />shall not be paid out of the insurance proceeds and shall be the sole obligation of Bonower. If the restoration
<br />or repair is not economically feasible or Lender's security would be lessened, the incnran� procceds shall be
<br />applied to the sums se,cured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Borrower. Such insurance proceeds shall be applied in the order providefl for in Section 2.
<br />If Bonower abandons the Properly, Lender may file, negoriate 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 �n�,�,�nce
<br />carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will
<br />begin when the notice is given. In either event, or if Lender acquires the Property under S�tion 22 or
<br />otherwise, Bonower hereby assigns to Lender (a) Borrower's rights to any insurance proce�ds in an amount
<br />not to exce�d the amounts unpaid under the Note or this Se�urity Instnunent, and (b) any other of
<br />Bonower's rights (other than the right to any refund of unearned premiums paid by Bonower) under all
<br />insurance golicies covering the Property, insofar as such rights aze applicable to the coverage of the
<br />Property. Lender may use the insurance proceeds either to repair or restore the Property 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 Properly as Bonower's principal residence
<br />within 60 days after the execurion of this Security Instrument and shall continue to occupy the Property as
<br />Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise
<br />agr�s in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstance.s
<br />exist which are l�yond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Bonower shall not d�troy,
<br />damage or impair the Properly, allow the Property to deteriorate or commit waste on the Property. Whether
<br />or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the
<br />Property from deterioraiing or decreasing in value due to its condition. Unless it is determined pursuant to
<br />Section 5 that repair or restoration is not e,conomically feasible, Bonower shall promptly repair the Property
<br />if damaged to avoid fiurther deterioration or damage. If insurance or condemnation proceeds aze paid in
<br />conn�tion with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or
<br />restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proc.eeds
<br />NEBRASKA-Single Family-Fannie Mae/Fr�die Mac UNIFORM INSTRUMENT
<br />VMP Q
<br />Wolters Kluwer Finandal Services
<br />Fo� aoze �ro�
<br />VMP6(NE) (7105)
<br />Pape 7 of 17
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