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201209436
<br /> All insuratice policies required by Lender and renewals of such policies shall be subject to l,ender'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. L,ender shall have the right to hold the policies and renewal certificates. If
<br /> Le�der 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 L.ender, 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 additional loss payee.
<br /> In the event of loss, Borrower shall give promp[ notice to the insurance carrier and Lender. Lender may
<br /> make proof of loss if not made promptly by Borrower. Unless Lender and Horrower otherwise agree in
<br /> writing, any insurance proceeds, whether or not the underlying insurance was required by Iender, shall be
<br /> applied to restorazion or repair of the Property, if the restoration or repair is economically feasible and
<br /> Lender's se�urity is no[lessened. During such repair and restoration period, Lender shall have[he right to
<br /> hold such insurance proceeds until Lender has had an oppommity to inspect such Property to ensure the
<br /> work has been completed to L.Qnder's satisfaccion, provided that such inspection shall be undertaken
<br /> promptly. Lender may disburse procceds 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 procce�s, L.ender shall not be required ro pay Borrower any
<br /> interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower
<br /> shall not he paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration
<br /> or repair is not economically feasible or L,ender's security would be lessened, the insurance proceeds shall be
<br /> applied to[he sums secured by this Securiry 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 Borrower 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 no[ice from Lender thaz the insurauce
<br /> carrier has offered ro settle a claim, [hen 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 Property under Section 22 or
<br /> otherwise, Borrower hereby assigns io L.ender(a) Borrower's rights to any insurance procceds in an amoun[
<br /> not to exceed the amounts unpaid under the Note or this Security Instrument, and(b)any other of
<br /> Borrower's rights (other[han the right to any refund of unearned premiums paid by Borrower) under al]
<br /> i�surance policies covering the Property, insofar as such rights are applicable to the coverage of the
<br /> Property. Lender may use the insurance proceeds either to repair or resWre the Property or to pay amounts
<br /> unpaid under the Note or this Security Instrument, whether or not then due.
<br /> 6. Occupancy. Borrower shall occupy, establish, and use the Property as Horrower's principal residence
<br /> within 60 days aher the execution of this Security Instrument 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 circumstances
<br /> exist which are beyond Borrower's cornrol.
<br /> 7. Praservation, Maintenance end Protection of the Property; Inspections. Borrower shall not destroy,
<br /> damage or impair the Property, allow the Property ro deteriorate or wmmit waste on the Property. Whether
<br /> or not Horrower is residing in the Property, Borrower shall maintain the Property in order to prevent the
<br /> Property from deteriorating or decreasing in value due to its condition. Unless it is derermined pursuant to
<br /> Section 5 thaz repair or restoration is not economically feasible, Borrower shall promptly repair the Proper[y
<br /> if damaged[o avoid further deterioration or damage. If insurance or condemnation proceeds aze paid in
<br /> connection with damage to, or the taking of, the Property, Borrower shall be respoasible for repairing or
<br /> restoring the Property only iF Lender has released proceeds for such purposes. Lender may disburse proceeds
<br /> NEBRASKA-Single Pamily-Fannie MaelFretltlie Mac UNIFOPM INSTRUMENT Form 302B 1/01
<br /> yW7p 9 VMPBINE1111051.00
<br /> Wolters Kluwer Financial Servicas PaBe]011 J
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