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�012087�� <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 Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or <br />destruction of, the Property, such policy shall include a standazd mortgage clause and shall name Lender as <br />mortgagee and/or as an addirional 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 agre,e in <br />writing, any incnran� proc,eeds, whether or not the underlying insurance was required by Lender, shall be <br />applied to restorarion or repair of the Property, if the restoration or repair is ec;onomically feasible and <br />Lender's security is not lessened. During such repair and restorarion period, Lender shallll 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 b�n completed to Lender's satisfaction, provided that such insp�tion shall be undertaken <br />promptly. Lender may disburse proceeds for the repairs and restorarion in a single payment or in a seri� of <br />progress payments as the work is completed. Unless an agrcement is made in writing or Applicable Law <br />requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Bonower any <br />interest or earnings on such praceeds. Fees for public adjusters, or other third parties, retain�i by Bonower <br />shall not be paid out of the in�,�ran� proceeds and shall be the sole obligation of Bonower. If the restoration <br />or repair is not economically feasible or Lender's security would be lessened, the inc,�r�ce procceds shall be <br />applied to the sums s�ured by this Security Instrument, whether or not then due, with the excess, if any, <br />paid to Borrower. Such insurance procceds shall be applied in the order provided for in Section 2. <br />If Bonower abandons the Property, Lender may file, negoriate and settle any available insurance claim and <br />related matters. If Borrower does not respond within 30 days to a norice from Lender that the �n� <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 Secrion 22 or <br />otherwise, Bonower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount <br />not to exceed the amounts unpaid under the Note or this S�urity Insixument, and (b) any other of <br />Bonower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all <br />insurance policies covering the Property, insofaz 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 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 execurion of this S�urity Instrument and shall continue to occupy the Property as <br />Bonower's principal residence for at least one year after the date of accupancy, unless Lender otherwise <br />agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances <br />exist wlrich aze beyond Borrower's co�rol. <br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, <br />damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether <br />or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the <br />Properly from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to <br />Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property <br />if damaged to avoid fiuther deterioration or damage. If insurance or condemnarion proceeds are paid in <br />connection with damage to, or the taldng of, the Propetty, Borrower shall be responsible for repairing or <br />restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds <br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Porm 3028 1/01 <br />VMP Q VMPBINE) (11051 <br />Woltera Kluwer Financial Servicea Pe9e ��� � <br />