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201210451 f411 ivstuance policies required by Leuder smd rencwals of such policies sholl ba subject to Lcnder's riglrt to disapprovo sucli policies, shall include a st�ndard mnrtgflge clause, aud shall naine Lender es mortgagee and/or es an additional loss payec;. Lc�ider ehall haue the right to hold Clie policies and renewal certiticeees. If I,ender requires, Boirower shall protuptly give ho Londor all receipCs of pttid premiiuns anci renowal noNces. If Borrowcr obtains any form of insucance coverage, not otherwieo rcquired by Lendar, for damage Lo, or destruotion o� the Proporty, such policy shall include a standard moxtgage clausc and aha11 naine Lender as morYgagee and/or �s au addilional lose payce. Iu the event af loss; Borrower shall give prompt notice to the insurenoe carrier and i.ender. Lender may mzke proof of loss if rioL m�de promptly hy k3cirrower. Unless Lender and Borrower olhcrwise agree in writing, auy insLvauce proceeds, whethe��or not tke underlying iusurance was required by Lender, shal]bo epplied to reatornCion or rept�ir of tha Propetty, if the restioration or repaix is eoonomically fea�sible and Lender's securiEy is not lessened. During such repair and re,�toration pariod, Lender shnll have Ilre right to hold such insurance prooeeds mitIl Lender hae had fln opporumity to ins}�ect such Property to ensuee the work has been wmpleted to Leudcr's satisfaction, provided that auch inspec[ion sha7]l�e widertaken promptly. Lender mny disburse prooeeds for thc repaire and restoratiion in a single pflyment or i�r a scries of pxogcess paymenfs-as the woi•k is completed. Unless an agreemc��t is made in writing or Applicable Law requires inferest to be�aid on such insurance proceeds, Lencier shall uot be required ta pay Borrower any intorest or carnings on snch proeeeds. Fees for public adjusters, ar oCher Yhird parties, retaiued by Borrower shall noC Ue paid out of tl�e insurance proceeds and sha11 be the sole obligation of Borrowor. If the restoralion or repnir ia uot economioally fearible or Lcndcr's sccurity would Ue lessened, the ineurance p�nceeds shall Uo applied to the smna secwed by this Securiry Snatrumenf, whechcr or not tUen due, with tlie excess, if any, paid to Borrower. Such instiiranc�proceeds shall ba applied in the order provided for in Section 2. If Borrower abandous the Property, Lender may file, negotiate and eeCCle any available inauiance clairn and reletecl mntters. IF Borrower does not respoiid witl�in 30 days to a notica from Lender thnt the insurance oarrier has offered Co settle a claim, then Lender may negotinCe and eattle fhe claim. The 30-day period will begin wheu the notice is given. Hi eitihar event, or if Lendex aequires fhe Property imdor Seotion 22 or otl�erwisp, Barrower l�creby assigns to I,ender(a) Borrower's rights to atry inst�ranoe proceeds in an amo�mt not to exc€ed the amomil�unpaid uudcn�the Noto or tl�is Security L�strmnenti, atid(b}atny other of Borrower's rights (other than the right to nny reFund oP unearneci prcmiwns p<�id Uy Borrower}undar all ins'�u�nnce�olicies covaring thc Y�nperty, iitisofv�as stiicl�riglrte are t�pplicable to the coverage o�f d2e Properdy. Lestder may use the'tnsuxance proceeds eilher to rcpair or restore the Property or to ptty amounts unpaid under the Nota or this Secw•ity Iustrument, whether ar noe then due. 6. Oecupaney. Borrower ahall occupy, esYablish, and use the Property as Borro�ver's principal residence wi$�in 60 dttys aftcr fl�o cxccution of N�is Secm'ity Instrwnent uid sliall continue to occupy the Property aie Borrowex's principal reeideuoe for nk IeasC one year after the daYe of occupancy, uuless Lender otherwise agrees in writing, which consent shall not be unreasonably wilhheld, or imless cxtcr�uafvig circumstances �iyt which are Ueyond Borrower's conYrol. 7. PreservaCion, Maintenance and Protection of the Property; Inspeckions. Borrower shaIl not destroy, dnmage or impair t1ie Property, allow the Proparty to deCeriorate or comnvC was[e on Lhe Property. Whother or noC Borrower is residing in tho Property, Boreowe��s1�all mainTain the Property in order to prevenC the Property from deteriorating or decreasing in valne dne Co its condiHon. Un1ess it.is deterinined purauant to 8ection 5 tl�at repair or restoration is noY economically feaeible, Barrower shall prompCly rcpair the Property if dan�aged ko aivoid further deticrioration or damage. if insurance or condeumaGon proceeds axe paid in connecYion witih dmm�ge to, or the takiug of, tlie Proper6y, Borrower sl�all be respoi�sible for repairing or restoring Gl�e Property only if Lender has released proceeds for suoh puxposes. I,andec may disburac proceeds 24002fl63 NEBNASKA-Single Femlly-Fennle M ae/Fretltlie Mac UNIFORA4 WSTRUM ENT Form 3�26 7/07 V M P(� VM PB(N E)(�10b� Wollere KluWer Flnenclal Servicos P`tge 7 0(1