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201210888 All insurance policies reqnired bq Lender and renewals of such policies shall be subject to Lender's iight to disapprove such pdicies, chall include a.standard mortgage clause, and shall name Lender as mortgagee andlor as an additional loss payee. Lender s1�a11 have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiiuns and renea•al 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 namc Lender as mortgagee and/or as an acidirional loss payee. In the event of loss, Borrower shall give prompt norice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower othenvise agree in writing, any insurance proceeds, whether or not the underlying insurance wa�requircd 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 lassened During such repair and restoration period, Lender shall have the right to hold such insurance pxoceeds until Lender has had an opporhuiity to inspect such Piaperty to ensure the work has been completed fo Lender's satisfaction, provided that such inspection sl�all 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 ox Applicable Law requires interest to be paid on such ins�uance proceetis, Lender shall not be requued to pay Bono�rer any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Boaower shall not be paid out of the insisance 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 insisance proceeds shall be applied to the suress sec�u�ed by t7lis Security InstrumenY, whefher or not then due, �vith the eYcess, if any, - paid to Bonower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons The Property, Lender may file, negotiate and settle any available insurance claun and related matters. If Borrower does not respond withiu 30 days to a notice from Lender that the insurance carrier has offered to settle a claun, then Lender may negotiate and settle the claun. 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, Borrower hereby assignS to Lender(a)Boaower s rights to any insurance proceeds in an ainount nof.to exceed the ainounts 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 premiums paid hy Borrower)under all inswance policies covering the Property, insofar as such rights are appficable to the coverage of the Property. Lender may use the lnsurance proceeds either to repair or restore the Froperty ar to pay amounts unpaid under the NoYe or this Security Instrument, whether or nof then due. 6. OCcupancy. Bonower shall occupy, establish, and use the Properiy as Borrower's principa] residence within 60 days after the�ecution of this Security Instnunent and shall continue to occupy the Properiy as Borrower's principal residence for at least one y�ear 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 Boxrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not des�oy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Ptopesty. Whether or nof Borrower is residing in the Pioperty, Borrower shall maintain the Properiy ia order to prev�t the Property from deteriorating or decreasing in value due to its condiuon. Unless it is deternuned pursuant to Section 5 that repair ar restoration is not eeonomically feasible, Bosowez shall promptly xepair the Properiy if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or Yhe taking o� the Properiy, Borrower sha11 be responsible for repairing or restoring the Properry only if Lender has released proceeds for such purposes. Lender may disburse proceeds 24003045 N:BRASKFSingleFemity-FannieMaelFreddieMacIIWFORM WSTRUMENT Porm30281101 W o4er�s Kluw er Financial Services VPA P8(N E)(1105) Paqe�of i�