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� All ;nc�*ansp policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower s�all promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and I.ender. Lender may make proof of loss if not made prompfly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restora.tion period, Lender shall have the right to hold such �nc�,rA�p proceeds until Lender has had an opportunity to inspect such Properiy to ensure fhe work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken prompfly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such �r�*an� proceeds, Lender shall not be recauired to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower sha11 not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds sha11 be applied to the sums secured by this 5ecurity Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shaIl be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settic a claim, then Lender may negotiate and setfle fhe claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otb.erwise, Borrower hereby assigns to Lender (a) Borrower's rights to any in.c�ran� proceeds in an amount uat to exceed the amounts ungaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Bonower) under all �ncr�*ansp policies covering the Property, insofaz as such rights are applicable to the coverage of the Property. Lender may use the inc�,ran� proceeds either to repair or restore the Property or to pay amounts u�aid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this 5ecurity Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's conirol. 7. Preservetion, Maintenence and Protection of the Property; Inspecfiions. Borrower shall not destroy, damage or impair the Property, allow the Progerty to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall prompfly repair the �'roperty if damaged to avoid further deterioration or damage. If �n�*�nce or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Properiy only if Lender has released proceeds for such purposes. Lender may disburse proceeds NEBRASKA-Single Family-Farmia Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/O7 VMP � VMPB�NE) (11061.00 Wolters Kluwer Finarxlal Sarvica Page 7 of 17