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� . All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, sliall include a standard morlgage clause, and shall name Lender as mortgagee andJor as an additional loss payee. Lender sliall have the right to hold lhe policies and renewal certificates. If Lender requires, Borro��er shall promptly give to Lender all receipYs oP plid prenuums and renewal nolices. If Borrorver obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, tlie Properiy, such policy shall incliide 1 standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. . In the event of loss, Borrorver shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borror�ver othenvise agree in wridng, any insurance proceeds, rvhether or not the underlying insurance was requaired by Lender, shall be applied to restoration or repair of the Property, if the restoration or regair is economically feasible and Lender's security is not lessenec3. During such repair and restoration period, Lender shall have the right to hold sucli insurance proceeds undl Lender has l�ad an opporiunily to inspect such Pmperiy to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. 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 La�v requires interest to be paid on such insurance proceeds, Lender sliall not be required to pay Borrodver any interest or earnings on such proceeds. Fees for public adjusYers, or other lhird parties, retained by Borro�ver shall 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 shall be applied to the sums secured by this Security Instrument, whether or not then due, with the e�cess, if any, paid to Borrorver. Such insurance proceeds shall be applied in the order pmvided for in Section 2. If Borrower abandons the Properiy, Lender may file, negotiate and settle any avaiIable insurance claim and related matters. If Borrower does not respond wiflun 30 days to a notice from Lender that the insurance camer has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Properiy under Section 22 or otherwise, Borrorver hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other oF Borrower's rights (other than the right to any refund of unearned premiuzns paid by Borrower) under all insurance policies covering flie Properiy, insofar as such rights are applicable to the coverage of the Property. Lender may use the inc�,rnnce proceeds either to repair or restore the Property or to pay amounts unpaid 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 Security Instnunent and shall continue to occupy tlie Properiy as Borrower's principal residence for at least one year after tlie date of occupancy, unless Lender othenvise agrees in writing, `vhich consent shall not be unreasonably �vithheld, or unless e��tenuadng circumstances exist which aze beyond Borrower's control. 7. Preservation,Maintenanceand Protectionof the Property;lnspections.Borrower shall not destroy, ' damage or impair the Property, allorv the Property to deteriorate or commit zvaste on the Properly. Whethez or not Borrower is residing in the Property, Borrower shall maintain flie Properly in order to prevent tfie Properiy from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restorttion is nut economitcally feasible, $orro�ver shall pxompfly repair the Properiy if dannaged to avoid further deterioration or damage. If inswrance or condemnarion pmceeds are paid in connection with damage to, or the taking of, the Properiy, Borro�ver shall be responsible for repairing or restoring the Property only if Lender l�as released proceeds for such piuposes. Lender may disburse proceeds NEBRASKASingle FemilyFann(e Mae/Freddle Mea UMFORM INSTRUMENT Form 30281f01 VMF � VMP8ME1(11U5j 00 Woltets Kluwer Fit�enalal Servlaea � FSege 7 at 17