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201309419
<br /> amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, wit such interim
<br /> upon notice from Lender to Borrower requesting payment.
<br /> All insurance policies required by Lender and renewals of such policies shall be object to Lender's right to
<br /> disapprove such policies, shall include a standard mortgage clause, and shall name Lamer 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 stn nTd mortgage clause and shall name Lender as mortgagee audior 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. t_Tiale.,ss Lender and P-orrowe r otherwise agree in wrung, any
<br /> iosurance proceeds,whether or not the underlying insurance was required by Lender, R1 11 be applied to restoration
<br /> or repair of the property, if the restoration or repair is econamicaB.y feasible and Lender s security is not lessened.
<br /> ,ring such repair and restoration prod, 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 be underta.ken promptly. Lender may disburse proceeds for the repairs and
<br /> restoration in a single payment or in a series of program payments as the work is completed. Unless an agreement
<br /> is made In wiiLing 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 patties,
<br /> retained by:orrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower.
<br /> rift the restoration or repair is not economically feasible or Lender's security would be lessened,the insurance proceeds
<br /> shall be applied to the suns secured by this Suety histrament,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 hie, n egot to and she any available insurance claim and
<br /> related matters. If Borrower does not respond-within' 30 days to a notice from Lender that the ins ranc e carries has
<br /> offered to settle a c1Pyn, they.Lender may negotiate and settle the claim. The 30-day period will begin when the
<br /> notice is give In either event, or if Lender acquires the Property under Sermon 22 or other.wise Borruwc,i hereby
<br /> assigns to Lender(a)Borrower's rights to any insurance proceeds in an amount not to exceed the amounts impaid
<br /> under the Note or this Security Instrument, and(b)any other of Borrowers rights(other than the right to any rem
<br /> of inearned premiums ms paid by Borrower)under all insurance policies covering the Property, insofar as such rights
<br /> are applicable to the coverage of the Proper 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 Instilment, 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 h trr wit 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 ogees in siting,which
<br /> consent shall not be unreasonably tiih&I ., or mess extenuating circumstances exist which are beyond Borrower's
<br /> control
<br /> 7. Preservation, Maintenance and Protection of the Proper Inspections. Borru l shall not destroy,
<br /> damage or hnpair 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 Propel 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 dunnage_ 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 si ogle payment or in
<br /> a series of progress payments as the work is completed_ If the instil-once or cond rmition proceeds are not sufficient
<br /> to repair or restore the Property,Burrower is not relieved of Borrower?s obligation for the completion of such repair
<br /> or restoration.
<br /> NEBRASKA—Single FamiIy--Fannie Mae/Freddie Mac UNIFORM 1 NSTRU IT 2 c eRiriklia
<br /> Form°28 1/01 Page 6 of 14 www_docmagic.00F17
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