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• 201301746
<br /> amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest,
<br /> upon notice from Lender to Borrower requesting payment.
<br /> All insurance policies required by Lender and renewals of such policies shall he subject to Lender's right to
<br /> disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an
<br /> additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires,
<br /> Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any
<br /> form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such
<br /> policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss
<br /> payee.
<br /> In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make
<br /> proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any
<br /> insurance proceeds, whether or not the underlying insurance was required by Lender, shall he applied to restoration
<br /> or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened.
<br /> During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender
<br /> has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,
<br /> provided that such inspection shall he undertaken promptly. Lender may disburse proceeds for the repairs and
<br /> restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement
<br /> is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be
<br /> required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties,
<br /> retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower.
<br /> If the restoration or repair is not economically feasible or Lenders security would be lessened, the insurance proceeds
<br /> shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid
<br /> 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 notice from Lender that the insurance carrier has
<br /> offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the
<br /> notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby
<br /> assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid
<br /> under the Note or this Security Instrument, and(b)any other of Borrower's rights(other than the right to any refund
<br /> of unearned premiums paid by Borrower)under all insurance policies covering the Property, insofar as such rights
<br /> are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the
<br /> Property or to pay amounts 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 Borrower's principal residence
<br /> within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's
<br /> principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which
<br /> consent shall not he unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's
<br /> control.
<br /> 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy,
<br /> damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not
<br /> Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from
<br /> deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or
<br /> restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further
<br /> deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking
<br /> of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released
<br /> proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in
<br /> a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient
<br /> to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair
<br /> or restoration.
<br /> NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DoeMagle eThripm
<br /> Form 3028 1/01 Page 6 of 14 www_docmagic.com
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