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201211193 All insurauce policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall inclnde a standard mortgage clause, and shall name Lender as mortgagee and/or ac an additional loss payce. Lendex sha11 have the right to hold the policies and renewal certificates. I£ Lender requires, Borrowea� shall promptly give to Lendei all receipts ofpaid premiums and renewal norices. If Borrower obtains any form of inswance covcrage, not otherwise required by Len�er, for daIliELge to, or destruclion of, the Property, such policy shall include a standard rnortgage clause and shall nune Lender as inortgagee and/or as an additional loss payee. � In the event of loss, Borrower shall give prompt norice to the insurance carrier and Lender. Lender may make pxoof oP loss if not made promptly by Borrower. Unless Lender and Borrower othercvise agree in writing, any insurance proceeds, whethea or not the underlying insurance was requirefl by Lenda, sha11 be applied to restoration or repair of the Property, if the restoration or repair is econoinically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insuranec proceeds until Lendcr has had an opporiunity to inspect such Property to ensure the work has been completed t�Lender's satisfacfion; provided that stuh inspection shal]be undertaken pxomptly. Lender may di9burse proceeds far the repairs and reStoratioa in a singte pa�nent or in a series of progress pa}�ments as the work is completeci. Unless an agreement is made in writing or Applicable La� requires interest to be gaid on such insurance procec�s, Lender shall not be required to pay Borrower any interest or eanungs on such proceeds. Fces for public adju.sters, or other third parties, retained hy Borrower shall noY Ue paid out of the insuiance proceeds and shal]be the sole obligation of Bonower. If the iestoration 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, �vifli the excess, if any, paid to Borrower. Sucl�insurance proceeds shxll be applied in the order provided for in Scction 2. If Borrpwer abandons the Property, Lender may file, negotiate and settle any available insurance cla.im and rclated matters. If Borrower docs not respond�vithin 30 days to a notice from Lender that the insurance carries has offered to settle a cla'm, then I.ender may negotiate and settle the claim. The 30-day period will be�in when fhe notice is given. In either event, or:f Lender acquires the Property under SecYion 22 or otherwise, Borrower hereby assigns to Lender(a)Borrower's rights to any insurance�roceeds in an amount not to�ceed the amoiurts unpaid under the NoLe or this Security Instrument, and(b) any other of Borrower's rights(other than Che right to anp refund of unearncd premiums paid by Borrower)under all insisance polici�s covering the Propesty, insofar as such rights aze applicable to the eoverage of the Properiy. Lendei'may use the insurance proceeds either to repair or testore the Propexty or to pay amounts unpaid under the Note or this Sec�ity Instnunent, whether or not then due. 6. OccupanCy. Borrower shall occupy, establish, and nse the Properry as Borrower's principa:residence within 60 days after the execution of this Security Instnunent and shall continuc to occupy fhe Pioperty as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrces in writing, wluch consent shall not be unreasonaUly withheld, ox unless extenuarinn ciraunstances exist which aze beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower sha11 not destroy, damage ar impair the Property, allow the Pxoperty to deterioxate or comtnit w�ste on the Pr�perty. Whethes or not Bonower is residing in the Property, Bortower shall mainTain the Properfy in ordex to prevent The Praperiy f'rom deterioraCing or decreasing in value due to its condition. Unless it is determined pursu�Y Lo Secrion 5 that repair or restoration is not econornically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or datnaga If insurance ar condemnation proceeds are paid in coaaectlon�vith damage to, or the taking o£, the Property, Sorrower sha11 be responsible fox xepairin�or restoring the Properry anly if Lender lias rel.ased proceeds for such purposes. Lender may clisburse proceeds 2400322] NEBW SKA-Single Famiiy-Fannie MaeiRetldie Mac UNIFORM INSTRUMENT Form 3028 V01 ��'�°� Vh9P6(NE)(i�OS) W o�ters Kluwe�Finencial Services Page Z of t 9