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<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 mortgag�
<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 prP*�+n and renewal notices.
<br />If Borrower obtains any form of insurance coverage, not otherwise required by I.ender, 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, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may
<br />make proof of loss if not made prompfly by Borrower. Unless Lender and Borrower otherwise agree in
<br />writing, any inc�ran� prpce�s, whether or not the underlying insurance was required by Lender, shall be
<br />applied to restoration or repair of the Properry, if the restoration or repair is economically feasible and
<br />L.ender's security is not lessened. During such repair and reswration period, Lender shall have the right to
<br />hold such insurance proce�s until Lender has had an opportunity to inspect such Property to ensure the
<br />work has t�en completed to Lender's satisfaction, provided that such ins�cdon shall be undertaken �
<br />prompfly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of
<br />progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law
<br />requires interest to be paid on such insurance proc.eeds, Lender shall not be required to pay Borrower any
<br />interest or earnings on such proce,�s. Fees for public adjusters, or other third parties, retained by Borrower
<br />shall not be paid out of the insurance procee3s and shall be the sole obligation of Borrower. ff the restoration
<br />or repair is not economically feasible or Lender's security would be lessened, the inc�ra*+ce proc.eeds shall be
<br />applied to the sums securetl 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 providefl for in Section 2.
<br />If Borrower abandons the Property, L,ender may file, negotiate and settle any available insurance claim and
<br />related matters. If Borrower does not respand within 30 days to a notice from Lender that the insurance
<br />carrier has offere� to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will
<br />begin when the notice is given. In either event, or if Lender acquires the Properry under Section 22 or
<br />otherwise, Borrower 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 Security Instrument, and (b) any other of
<br />Borrower's rights (other than the right to any refimd of une,arned premiums paid by Borrower) 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 Progerty or to pay amounts
<br />unpaid under the Note or this S�urity Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Properry as Borrower's principal residence
<br />within 60 da,ys after the execution of this Security Instrument and shall continue to occupy the Property as
<br />Bonower's principal residence for at least one year after the date of occupancy, unless Lender otherwise
<br />a� in writing, which consent shall not be unreasonably witht►eld, or unless extenuating circumstances
<br />exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy,
<br />damage or impair the Property, allow the Properry to deteriorate or commit waste on the Property. Whether
<br />or not Borrower is residing in the Pro�riy, Borrower shall maintain the Pro�rty in order to prevent the
<br />Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
<br />Section 5 that repair or restorazion is not economically feasible, Borrower shall prompfly repair the Property
<br />if damaged to avoid fiuther deteriontion or damage. If �n��*►ce or condemnation proceeds are paid in
<br />connection with damage to, or the taking of, the Properiy, �rrower shall be responsible for repairing or
<br />restoring the Property only if Lender has released proceeiis for such purposes. Lender may disburse proceeds
<br />NEBRASKA-Single Famfly-Fennie Mae/Fraddie Mac UNIFORM INSTRUMENT Form 3028 7I07
<br />VMp � VMPBINE) (11051.00
<br />Wokars Kluwer Rnandal Servi� Pege 7 of 17
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