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20�20719� All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal norices. If �nower obtains any form of insurance coverage, not otherwise requirefl by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an addirional loss payee. In the event of loss, Bonower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Bonower. Unless Lender and Borrower otherwise agr� in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is �onomically feasible and Lender's security is not lessened. During such repair and restorarion period, Lender shall have the right to hold such insurance procceds until Lender has had an opportunity to inspect such Properiy to ensure the work has bcen camplete� to Lender's satisfaction, provided that such inspaction shall be undertaken prompfly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completefl. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Bonower any interest or earnings on such proceeds. Fces for public adjusters, or other third parties, retainefl by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligarion of Bonower. If the restoration or repair is not ec:onomically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums s�ured by this Securiry 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 Se�crion 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available incnra„ce claim and relaterl matters. If Bonower does not respond within 30 days to a norice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Se�tion 22 or otherwise, Bonower hereby assigns to Lender (a) Bonower's rights to any insurance proceeds in an amount not to excced the amounts unpaid under the Note or this Se�urity Instrument, and (b) any other of Bonower's rights (other than the right to any refund of unearned premiums paid by Bonower) under all insurance polici� covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Bonower shall occupy, establish, and use the Property as Bonower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Properiy as Bortower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agreas in writing, �vhich con�nt shall not be unreasonably withheld, or unless extenuating circumstanc� exist which are beyond Bonower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Bonower shall not destroy, damage or impair the Properly, allow the Property to deteriorate or commit waste on the Progerly. Whether or not Bonower is r�siding in the Property, Bonower shall maintain the Property in order to prevent the Property from deteriorating or d�reasing in value due to its condition. Unless it is determined pursuant to Secrion 5 that repair or restoration is not economically feasible, Bonower shall promptly repair the Property if damaged to avoid fiuther deterioration or damage. If inc��,�r,ce or condemnation proceeds aze paid in connection with damage to, or the taking of, the Property, Bonower shall be responsible for repairing or restoring the Property only if Lender has releas� proceeds for such piuposes. Lender may disburse proceeds NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP � Woltera Kluwer Financial Servlces Farm 3028 7/Ot VMPBINEI (7105) Page 7 of 17