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<br />All insurance policies required by Lender and renewals of such policies shall be subj�t to Lender's right to
<br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgag�
<br />and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If
<br />Lender requires, Borrower shall promptly give to Lender all re,ceipts of paid premiums and renewal notices.
<br />If Borrower obtains any form of insurance coverage, not othervvise requirefl by Lender, for damage to, or
<br />destrucrion of, the Property, such policy shall include a standard mortgage clause and shall name Lender as
<br />mortgagee and/or as an additional loss pay�.
<br />In the event of loss, Borrower shall give prompt notice to the insurance cazrier and Lender. Lender may
<br />make proof of loss if not made promptly by Bonower. Unless Lender and Borrower otherwise agree in
<br />writing, any incnran� proc,�s, 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 ec:onomically feasible and
<br />Lender's s�uriry is not lessened. 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 sarisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender may disburse procee�s 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 made in writing or Applicable Law
<br />requires interest to be paid on such insurance proceeds, Lender shall not be requirefl to pay Borrower any
<br />interest or eamings on such proce�ds. Fees for public adjusters, or other third parties, retainefl by Borrower
<br />shall not be paid out of the insurance proce�s and shall be the sole obligarion of Bonower. If the restoration
<br />or repair is not economically feasible or Lender's security would be lessened, the insurance procceds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Bonower. Such insurance proceeds shall be applied in the order provided for in Se�tion 2.
<br />If Bonower abandons the Properly, Lender may file, negotiate and settle any available �nc� claim and
<br />related matters. If Bonower does not respond within 30 days to a norice from Lender that the insurance
<br />carrier has offered to settle a claim, then Lender may negoriate 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 Section 22 or
<br />otherwise, Borrower hereby assigns to L,ender (a) Bonower's rights to any insurance proceeds in an amount
<br />not to exceed the amounts unpaid under the Note or this S�urity Instrument, and (b) any other of
<br />Bonower's rights (other than the right to any refund of »n�*�ed premiums paid by Borrower) under all
<br />insuranc� policies covering the Property, insofar as such rights are 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. Bonower shall occupy, establish, and use the Property as Bortower's principal residence
<br />within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as
<br />Bonower's principal residence for at least one year after the date of occupancy, unless Lender otherwise
<br />agrces in writing, wluch consent shall not be unreasonably withheld, or unless extenuating circumstances
<br />exist which are h�yond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not d�troy,
<br />damage or impair the Property, allow the Property to deteriorate or commit waste on the Properly. Whether
<br />or not Bonower is residing in the Property, Bonower'shall ma.intain the 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, Borrower shall prompdy repair the Property
<br />if damaged to avoid further deterioration or damage. If �nc��rance or condemnation proceeds aze paid in
<br />conn�tion with damage to, or the taldng of, the Property, Borrower shall be responsible for repairing or
<br />restoring the Property only if Lender has released procceds for such purposes. Lender may disburse procee�s
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />VMP Q
<br />Wolters Kluwer Financtal Servic�
<br />Fo.m aoss � ro �
<br />VMPB�NE) (1106)
<br />Page 7 of 17
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