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20120�660
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br />disapprove such policies, shall include 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 renewal certificates. If
<br />Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices.
<br />If Bonower obtains any form of �nc�,rance coverage, 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, Bonower shall give prompt notice to the insurance carrier and Lender. Lender may
<br />make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in
<br />writing, any inc„ra„ce proce�s, whether or not the underlying insurance was required by Lender, shall be
<br />appliefl to restoration or repair of the Properiy, if the restoration or repair is ei;onomically feasible and
<br />Lender's se�urity is not lessened. During such repair and restorarion period, Lender shall have the right to
<br />hold such inc,,,�„ce proceeds until Lender has had an opportunity to inspect such Properiy to ensure the
<br />work has been completed to Lender's satisfaction, providerl that such inspection shall be undertaken
<br />pro�tly. Lender may disburse praceeds for the repairs and restoration in a single paymern or in a series of
<br />progr�s payments as the work is complet�l. Unless an agr�ment is made in writing or Applicable Law
<br />require�s interest to be paid on such insurance proceeds, Lender shall not be required to pay Bonower any
<br />interest or earnings on such proceeds. F�s for public adjusters, or other third parties, retain� by Borrower
<br />shall not be paid out of the inc��rance pracceds and shall be the sole obligarion of Borrower. If the restoration
<br />or repair is not economically feasible or Lender's security would he lessened, the insurance proceeds shall be
<br />applied 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 Bonower abandons the Property, Lender may file, negotiate and settle any available insurance claim and
<br />related matters. If Borrower does not respond within 30 days to a notice from Lender that the inc�,rance
<br />carrier has offered to settle a claim, then Lender may negoriate 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 S�tion 22 or
<br />otherwise, Borrower hereby assigns to Lender (a) Bonower's rights to any insurance proceeds in an amount
<br />not to exce�d the amounts unpaid under the Note or this Se,curity Instrument, and (b) any other of
<br />Borrower's rights (other than the right to any refund of unearned premiums paid by Bonower) under all
<br />insurance policies covering the Property, insofar as such rights aze 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 Security Instrument, whether or not then due.
<br />6. Occupancy. Bonower shall occupy, establish, and use the Property as Bonower's principal 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, unless Lender otherwise
<br />agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstanc�,s
<br />exist which aze beyond Bonower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy,
<br />damage or i�air the Property, allow the Property to deteriorate or commit waste on the Property. Whether
<br />or not Bonower is r�iding in the Property, Bonower shall maintain the Property in order to prevent the
<br />Properly from deteriorating or decreasing in value due to its condirion. Unless it is determined pursuant to
<br />Section 5 that repair or restoration is not economically feasible, Bonower shall promptly repair the Property
<br />if damaged to avoid further deteriorarion or damage. If insurance 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 Property only if Lender has released proc,eeds for such purposes. Lender may disburse proce�ds
<br />NEBRASKA-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />VMP p VMP6INE) (1105)
<br />Wolters Kluwer Flnencial Servlc� Pege 7 af 17
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