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201207370
<br /> tlll insur<uice policies required by Lender and renewals of such policies ahall be subject to Lender's righc to
<br /> disapproVe such policies, shall inchide a standard mortga�e clause, aud shall nama Lender ae mortigagee
<br /> ancilor a�an additional lose�ayce. Lcnder ahall havc the right to hold tl�e polieics and renewe�l certificafes, If
<br /> L,ender require.s, Bortower shall pron�ptly give to Lender a11 receiple of paid premiums and renewal rioticcs.
<br /> If Borrower obtnins any form of insurnnce cover�ge, not otherwise required by Lender, Por dmnage to, or
<br /> destru�Yion of, the Property, such poltcy ahall inclucle a sYandacd mort�age clause a�id s1�a11 name Lender as
<br /> morCga�ee EuxUor as an�dditiona]loss payee.
<br /> In the evant of'loss, Borrower shall give prompt notice to the insurance carrier uid I,ender. I.ender may
<br /> �nakc proof of lohs if not madc pron2pEly by B�irrower. Unless I,cnder �nd]3orrow�r othe�wieo agrc,�o in
<br /> writing, uiy insm�ance proceetls, whether or not the underlying insurqnce wes�required Uy Lender, shall be
<br /> ap}�1ied to restoration or ropair of thc Yroporty, if the restoraG�n or rcpair is economically feasil7lo and
<br /> Leuder's securiCy ia noC]essened. Dur'v1g such repan and restoration period, Lender shall haee the righC to
<br /> hold aueh iusursince proceeds until Lender h�s had a�i opporhuuty to inspecY such Property to ansme the
<br /> work has been completed to Lender's satisfacCion, provicied that such iaspectiioii shall Ue undertaken
<br /> proinptly. Lender inay disULuee pcoceeds for the rephiry and restoration in a single pay�nc��t or in a sorics of
<br /> progtess pa.yments as the work is eomplctal. Unlcss an€�grecu�enC is in�de in wriCing or Applicable Lttw
<br /> rec�uires inYcrc�t to be paid on such inaLixnnoe proceeds, Lender shnll not Ue requirul to pay Borrower any
<br /> interest or eartun�a ou such proceeds. Fees for public adjnsters, or other third parties, reta.ined by T3on ower
<br /> shall not be paid out of the inem�ance proceeds ar�d sl�all be thc sole obligatioii of Borrower. If Ihe resloraCioi�i
<br /> or rep�ir ie iiot eoon�inically feasible or Lender'a secLirity woLild be lessened, Che inaw�anca proceeds ehell Ue
<br /> applied to the sume securecl by tihis Sectu'ity IneErLunent, whefl�er or not then due, with the exr,ess, if anp,
<br /> pai�i to Boirower. Such 'v�surance prowcds shtil1 lic applicd in H�e order provided Poc in Seclion 2.
<br /> PF Borrower abandons tl�e Prop�rty, I.ender may frlq ncgotiaLe and sctClc any available 'vis'ur�aica claim atici
<br /> rolatcd matters. IfBon�owe�� does noC respund wiClvn 30 dnys to a noCice fi�oin Lender that tlie inenrance
<br /> canier lias olfered Co settle a olnnn, theu Lender may negoti�te nud seYtle Ehe claitn. The 30-clay Weriod v,rill
<br /> begiti when tlie notice ie given. In eiYher event, or if Lender acquires the Property under Section 22 or
<br /> otherwise, Borrower hereby�ssigne to Leuder (a)13on owo�''a ribhts to any insurance procecds 'v�an atnount
<br /> not to cxcced the a�i�otimY�unpaicl u�nder [he Nole or Chis S�curi[y Hish�ument, �nd(b) any ohher of
<br /> Borrower'a rights (otl�er Ehen the righY to any refwid of'uuearned premiums paid by Boxrower) wider �11
<br /> insiu�xnco policicF covcring Che�Praperty, insofer�s snoh rights�re applioable to�the covernge of the
<br /> Property. Leiider may use the insm�ance proceecis either to repair or restore Uie Property or to pay ainounts
<br /> unpaid uuder the Note or thie Sectiuity hisCume��t, whcfl�or or not then di'�c.
<br /> 6. �CCUpanCy. Borrowen shall occupy, establish, and uec tl�e Property as}3orrower's principal residcnce
<br /> within 60 days aftex�the execnNoit of tl�is Scci�rity IneCruinent and ehall cou6imie Io oocupy CTie Proper6y as
<br /> Burrower'e principal residence for at IeasC one yeax Aftter the dnke of ooci�nncy, uiiless Lender otherwiae
<br /> agrees in writing, whioh consent shall not Ue unreesouably witl�held, or unless extenuaCing circmnstances
<br /> exiet wliich are beyond Borrower's control.
<br /> 7. Preservation, Maintenance and Protection of the PropeYty; InspeaYions. I3orrower e1,n11 not destroy,
<br /> dame�ge or im}�air tho Yroperty, allow thcPro�erly lo detariorate or coinmiC wnste on tihe Pxopecty. Wliether
<br /> ar noC Borrav✓er ia residing in the Property, Borrower shall inaiutiaii2 tha ProperCy in order Co prevent the
<br /> Property ti'oin deteriorating a� decreE�ing in valne due to its umdition. Un1oss it is detcm�incd]�ursuant to
<br /> Scction 5 that rcpair or restoraCion is tiot ecouoinically£enaible, Borrawer shel(promptly repair the Pro�er6y
<br /> if dmnnged to avoid fiirther deteriorakion or da�nage. If insurauce or condeimiftCion proceeds ara paid in
<br /> cotuiectiwi with dunage to, or the taldng of, the Property, I3orrower ehall be responsib1c for repairing or
<br /> restoring the Pro�erty only if Lendor has released proceeds for suoh purpose,s. Lender may clisburso procoodF
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<br /> NEk]NASKA-Single Fnmlly-Fsnnle Ie1ae/Freddie Mac UNIFORA7 INETRUM F_NT Form 3020 1101
<br /> VM P� Vld PB(NE)�11 U5j
<br /> !Noltem Kluwet Flnonoial Scrvicco Page af 1'/
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