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<br /> If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at
<br /> Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or
<br /> amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower,
<br /> Borrower's equity in the Property, or the contents of the Property, against any risk,hazard or liability and might
<br /> provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the
<br /> insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have
<br /> obtained. Any amounts disbursed by Lender under this Section .5 shall become additional debt of Borrower
<br /> secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of
<br /> disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment.
<br /> All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br /> disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or
<br /> as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender
<br /> requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower
<br /> obtains any form of insurance coverage, not otherwise required by Lender,for damage to, or destruction of,the
<br /> Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an
<br /> additional loss 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 be applied to
<br /> restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is
<br /> not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance
<br /> proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed
<br /> to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse
<br /> proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is
<br /> completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
<br /> insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds.
<br /> Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance
<br /> proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or
<br /> Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this
<br /> Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.Such insurance proceeds
<br /> 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
<br /> has offered to settle a claim,then Lender may negotiate and settle the claim.The 30-day period will begin when
<br /> the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower
<br /> hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the
<br /> amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than
<br /> the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the
<br /> Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance
<br /> proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security
<br /> Instrument, whether or not then due,
<br /> 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60
<br /> 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,
<br /> which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond
<br /> Borrower's control.
<br /> NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br /> VMP® VMP6(NE) (1105).00
<br /> Wolters Kluwer Financial Services Page 6 of 15
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