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<br />All insurance policies required by Lender and reuewals of such policies shall be subject to Lender's right to
<br />disapprove such policies, shatl iuclude 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 rentewal cerrtif'icates, ff
<br />Lender requires, Borrower shall prompdy give to Lender all receipts of paid premiums and renevval notices.
<br />If BortoWer obtalns any form of �ncnrancP �verage, 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 and/or as an additional loss payee.
<br />In the event of loss, Borrower s�all give pzompt notice to the insurance carrier and Lender. Lender may
<br />ma.ke proof of loss if not made prompfly by Borrower. Unless Lender and Bortower otherwise agree in
<br />writing, any insurance proceeds, whether or not the underlying �nc�,ran�p �yas 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 aud restoration period, Lender shall have the right to
<br />hald such �nc�,ransp proceeds until Lender has had an opgortunity to inspect such Property to ensure the
<br />work has been completed to Lender's satisfaction, provided tha.t such inspection shall be undertaken
<br />prompfly. Lender may disbuzse 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 made in writing or Applicable Law
<br />requires interest to be paid on such insurance proceeds, T.ender 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 sha11 be the sole obligatian of Borrower. If the restoration
<br />or repair is not economically feasible or Lender's security would be lessened, the inc��r,,n5� proceeds shall be
<br />agplied to the sums secured 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 provided for in Section 2.
<br />If Borrower abandons the Property, Lender may file, negotiate and settle any available in�,rance claim anti
<br />reta.ted matters. If Borrower does not resgond within 30 days to a notice from Lender that Yhe insurance
<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 Section 22 or
<br />otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any inc�ran� proceeds in an amount
<br />not to exceed the amounts u�aid under the Note or this Security Instrument, and (b) any other of
<br />Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all
<br />insurance 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 Seeurity Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Properiy as Borrower's principal residence
<br />within 60 days after the execution of this Security Instrvment and shall continue to occupy the Properiy as
<br />Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise
<br />agrees in writing, which consent shall not be unreasonably withheld, or unless extemiating circumstances
<br />exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy,
<br />damage or 'vnpair the Property, allow the Property to deteriorate or commit waste on the Properly. Whether
<br />or not Borrower is residing in the Progeriy, Borrower shall maintain the Property in order to prevent the
<br />Properiy from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
<br />5ection 5 that repair or restoration is not economically feasible, Borrower 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 Leuaer has released proceeds for such purposes. Lender may disburse proceeds
<br />NEBAASKA-Sinple Famlly-Fannie Mae/Fraddia Mac UNIFORM IN5TRUMENT Form 3026 1/01
<br />VMP � VMP6(NE) (9 9061.00
<br />Wolters Kluwar Finencial Sarvices Page 7 of 17
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