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�0�207974
<br />All insurdncc p��licies required hy LGnder and renewuh uf such perlicies shall he suhjex;l tu [.c:nde;r'ti right to
<br />disapprove such policies, shall include a standard �nortgage clausv, aud shall name Lender as �uortgagee
<br />and/or as an additional loss payee. Lender shall have the right to hold tl�e �olicies and rencwal certificates. If
<br />Lender requires., Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices.
<br />If Borrower obtains any fonn of insurance ccaverage, not atherwise required by Lender, for dam�ge to, or
<br />dcstruction of thc Properiy, such policy shall includc a standard martgagc clausc and shall namc Lcndcr as
<br />mortgagee and/or as an additional lass payee.
<br />ln the even[ of lc}ss, Iioreawer shall give prompi notice to fhe insurance carrier and I.ender. Lender may
<br />make pruc�C�if l�>ss ifnot made prc>mptly hy I3urruwer. iJnles, L,e.°nde,�r and I3��rruwer ulherwise; a�ree in
<br />writing, any insurance proceeds, ��hether or not the underlying it�urance was required by Lender, sliall 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 and restoration period, Lencler 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 bccn complctcd to Lcndcr's satisfaction, providcd that such inspcction shall bc undcrtakcn
<br />promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series oF
<br />progress payments as the �vork is completed. Unless un aereement is made in writing or Applicable Law
<br />requirea interest to be paid on such insurance proceecis, Lender shall nat be r�uired to pay F3onower any
<br />interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Bonower
<br />shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoratian
<br />or repair is not ecanomically feasible or Lender's scxurity would be lessened, the insurance praceeds shall be
<br />applied to the suuis sec;ured by this Security Instrument, whether ar not then due, ��ith the excess, if any,
<br />paid to Borrower. Such insurance proceeds shall be applied in the order providu3 for in Sec:tion 2.
<br />If' Borrov�er abandons the Property, Lender may tile, negotiate and settle any available insurance claim and
<br />• related matters. If Borrower does not respond within 3Q days to a natice irom Lcnder that the insurance
<br />carrier has offered to settle a claim, then Lender may negotiate and settle the claim. '1'he 3U-day period vs�i(1
<br />begin when the notice is given. In either event, or if Lender acquires the Proper _ry under Section �2 or
<br />otherwise, Borro�ver hereby assigns to Lender (a) Bortatver's riehts to any insurance proceeds in an amount
<br />not to exceed the amounts nnpaid under the Note or this Security Instrument, and (b) any other of
<br />Bormwer's rights (other than the right to any refund of une�arned premiuins paid by Borrower) under all
<br />insurance policies covering the Property, insofar as such rights are applicable ko the coverage of the
<br />Properiy. Lender may use the insurance proceeds either to repair or restare the Property or to pay amounts
<br />unpaid under the Note. or this Sc;curity Instniment, whether or not khen di�e._
<br />6. OCCUpanCy. Borrower shall occugy, establish, and use the Praperty as Borrower's �rincipal residence
<br />within 60 days after the execution of this Security Instnunent and shall continue to occupy the Property as
<br />Borrower's principal residence for at least one year after the date of occupancy, unleas Lender okhenvise
<br />agrees in writin�, v,�hich consent shall not be unreasonably withhetd, or untess extenuatin� circumstances
<br />esist which are beyand Borrower's control.
<br />7. Preservation,Maintenanceand Protectionof the Property; Inspections.Borrow�cr shall not dcstroy,
<br />damage or impair the Property, allo�v the Property to deteriorate ar commit waste on the Property. Whether
<br />or not Bonuwer is residing in the Properiy, Borrower shall maintuin the Property in order to prevent the
<br />Property from deteriorating or decreasing in value due to its condition. Unless it is deter�nineci pursuant to
<br />Section 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 insu.rance or condemnatiti�n proceeds are paid in
<br />connection with damaee to, or the taking of, the Property, F3cirraw4r shall be responsible li�r rcpairing or
<br />restc�ring the Property c.}nly if Lender has rcicased proceeds for slich purpc>ses. Lender may disburse proceeds
<br />NEBRASKA-Single Family.Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />VMP �
<br />Woltera Kluwer Financiel Sarvices
<br />Form 3D28 �/01
<br />VA1P8(NE) ('1105).00
<br />Page 7 af 17
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