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201207894
<br /> A11 u�swance policies required by Londcr and renewals of such polioies shnll be subjcct to I,endar's right to
<br /> di&approve sucli policies, shall inclucie a e�andard mortgage clauee, and sh�ll name Lender as martgagee
<br /> and/or as an addifional loss payee. Lender shall have fhe right to hold Uie policies and renewnl certiCcates. ]f
<br /> Lender requires, Borrowcr shall proinptly give to Lender all receipts of paid premimns and renewal norices.
<br /> If Borrower obtnins any forin of insurance coverage, not otherwise required by Lenda', for darnage to, or
<br /> destruction of, flia Pro�erty, such polioy ehnll inchidc a standard mortgage clause nnd shnll name Lcnder as
<br /> mortgagee ancUc�r as an additional loss payee.
<br /> In[he event of loss, Borro�✓er shall giva prompt notioe to tl�ie insurance caz�rier and Lender. Lender inay
<br /> make proof of loss iC noC���ado promptly Uy Borrower. Unlese Lender and Borrower otherwise agree in
<br /> writing, eny insurance proceeds, whether or not the underlying insurnuce wtis required Uy LenndeE, aliall be
<br /> applied to restoration or repair of the Propexty, if the restoration or repair is economically feasible ancl
<br /> Lender's security is not lessened. Dmiug such repair aud restoration�eriod, l�ender sha11 hava tha right to
<br /> kold such insm�2nce procccda m�til Lender has had an opporhmity to inspecC such Piroporty to enstu�e the
<br /> work has been completed eo Lender's saHefttctioir, provided fliat such ivspeation ehall be imdertaken
<br /> prm�iptlq. Lender may disburse proceede for Uie repnirs and re�toratiou in a single payinznt or in a series�of
<br /> progresa payments as the work is completed. Uvlese an agreement is made in wriCing.or ApplicaU1e I,aw
<br /> requirea interest to be paid on such in.surancc procaecls, Lender �hall not be required to�ay Boxrower any
<br /> interest ar eaa'nings on sueh proceecis. I+ees for public adjuetere, or othcr{h�rd parties, retiRined by Borrotaex
<br /> shall not l�o paid out of khe iusuranee proceeds end shall be the sole ol�ligation of Borrower. lf the restocation
<br /> or re�air is not ee;onomically feasible or Lender's security would be lessened, Che ituurance procecds sl�all be
<br /> appli€d to the smns secm'ed by Yl�is Sccurity inshument, whether or not Yhen due, with tihe exoees, iP any,
<br /> paid to Borrower. Such inai�rnnoeyxoceeds ehall bc applicd iii the order provided Por iu Section 2.
<br /> If Borrower�bandons the 1'roperty, Lendcn may file, negotiate and seCtle any availnble ineuranee claim�uid
<br /> related maCters. If Borrower d4es uot respond withiu 30 dayF tu a noficc from Lender tl�at tha insw�ance
<br /> can�ier hTs offcred to settle a claim, fhen Lencler may negotinte and setfle Che olaiui. 'Cl�e 30-day period will
<br /> begin when the taolice is giveii. In cither evcnt, or if I,ender acquires the Property nuder Sec[ion 22 or
<br /> otherwise, Borrower hereby essigns to Lender(a)Borrower's right�to any i»snrance proceeds iu an amount
<br /> not t'o oxcecd Ehe aivounts uupaid widar the Note or this Securi'ty fivstrumenL, and (U) any other of
<br /> Borrower's riglils (othcr than the rigl�t to any refiuid of uneamad preltritune paid by Borrower) undor all
<br /> insLu�ance��olioies covering the Property, inaofnr as suoh righPs are ap�licaUlc fo the coveiage of the
<br /> Pro�crty. Londer may uye Ehe iiisura�ice proceeda either to repeir or reatore Che Properry or To pay�mounts
<br /> unpaid nnder the Noto or this Sec�uity InstrutnenC, wheYlie�� or not tlieu dne.
<br /> 6. Oecupancy. Borrower sha11 occupy, establish, aud use Yhe Property ns Bon�ower's principal residence
<br /> within 60 days after lhe exernition of tl�is Sccu�9ty h�strumeiit and sliall continue to occupy the Praperty as
<br /> I3orrower's principal residence for aE leeat one year fl$er lhe dafe of occu�iancy, un1ess Lender otlierwise
<br /> agrees in writing, w11ic1� consent el�all not be um�e�tsonably withheld, or tuiless exCenuating circumstances
<br /> exist wlrich aie beyond Borrower's conu�ol.
<br /> 7. Preservation, Maiirtenarice and Prntection af the Property; Inspections. 1�orrower shnll not destr�y,
<br /> damage or impair the Properry, flllow the Properly to dateriorate or commit wasCe on Che ProperCy. Whether
<br /> or not Rorrower is residing in flze Property, Borrowe�•shall mainhain Che ProperCy in order to prevent the
<br /> Property fr•ofl�dota�ioi�afrng or decreasing in value clue to its coudition. Unless ik is detierminecl p�arsuanf to
<br /> Section 5 thnC repair or restoration is not economically feasible, Borrower shall promptlyrepatir Cl�o Property
<br /> iP damaged to auoid fixrther deteriora6ion or dunage. If inFurance or condemnation praceecls�re paid 'ui
<br /> conncction wiGh damage to, or the talciiig of, the Property, Borrower ahall bc responeiUle for repairing or
<br /> restoring the A�oper�y only if Lender has released proceeds �1or sueh purposes. Leuder may disbarseproceeds
<br /> zaoozz�z
<br /> NEBRA31(A-Single pamlly-Famiiq MaefFredtlle Meo UNIFORM INSTRUM ENT Form 3028 1107
<br /> VMP(}n VMP6�NE (11051
<br /> Wolters Kluwer Finnnclal Services Page Y of 17
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