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��14�7�41
<br /> AI.� insurance polic�es requ�red by Lender and renewals of such polici�s sha���e subject to Lender's r�ght�o �
<br /> d�sappro�e such policies, shali include a standard mor�gage clause, and shall name I�ender as mortgagee
<br /> andlor as an addi�i�nal�oss payee. Lender sha11 ha�re the r�ght�o ho�d the policies and renewal cer��ficates, If
<br /> Lender requires, Borrower sha.��promptly gi�e to Lender a11 receipts of pa.id premiums and renewal notices.
<br /> If Borrov�rer ob�aa.ns any form of xnsurance co�erage,no�other�vise requ�red b�Lender, for damage to, or
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<br /> esrructxan of, the Prager��, such p��li�y sha�� include a standard mortgage cxause and shall name Lender as
<br /> mortgagee andlor as an addx�ionalloss payee. �
<br /> In�he e�rent of 1oss, B�rrov�er shall gx�re prompt notice�o xhe�nsurance carri.er and Lender. Lender may
<br /> make proof of loss if nat made promp�ly by�rrower. Unless Lender and Borro�rer otherw�se agr�e�n
<br /> �rri.t�ng, any�nsurance proceeds, vvhether or not the under�ying rnsuranc�vvas required by Lender, sha�x be
<br /> app�ied�o restaration or repa.�r of the Property, �f the restora�ion or repair is econ�mi.caiiy feasibie and
<br /> Lender's secur�ty is nat�essened. During such repair and res�ora�xon pe�.od, Lender shall ha�e the right to
<br /> hold such insurance proceeds untii L�nder has had an opp�rtunity�o xn�pect such Proper�to ensur�the
<br /> work has been comp�e�ed to Lend�r's sat�sfac�ion, gro�rided that such�nspectxan sha1�be undertaken
<br /> prompt�y, Lender may disburse proceeds for�he repa.rrs and restorat�on in a single paymen�or in a ser�es of
<br /> progress payments as the work rs camp�e�ed. Unless an agreement is rnade�n vvr�.�ing or Applicab�e L�aw
<br /> � requxr�s�nreres�to b�paid nn such insuranc�proceeds, Lender shaii no�be requxred to pay Borrvwer an
<br /> Y
<br /> interest or ea.rnings on such proceeds. Fees for public adjus�ers, ar other third par�ies, retained by Borrower
<br /> ' sha.l.I nat be pa�.d out af�he insurance proceeds and sha1l b��he soXe obiigat�on af Borrower. If the restiorat�nn
<br /> or repair is not economr�ally feasib�e or Lender's security would be�essened, �he xn.suranc,e pro�eed.s sha1�be
<br /> applied to the sums secured�by�his Security In��rument, wheth�r or not then.due, �ith�he excess, �f any,
<br /> paid to Borrower. Such lnsurance proc.eeds shaii be appixed in�he order pro��ded far in Se�ctrnn Z.
<br /> If Borrawer abandon.s the Proper�, Lender may�le,negatrate and set�Ie any ava.ilab�e insurance claim and
<br /> related ma�ters. �f Borrav�er does nat respond�vithin 30 days�o a notice from Lender��aat the xnsurance
<br /> . carrier has offered to settle a claim, then I,ender may nego��ate and sett�e the c�aim. The 3�-�day period w�11
<br /> beg�n when the noxice xs g�ven. In e��ier event, or if Lender acquires�he Praperty under S��ion 22 or
<br /> otherwise, Borrawer hereby assigns ta Lender�a} Borrov�rer's rights ta any insurance proceeds in an amount
<br /> nat�o exceed the amoun�s ur�paid under the Note or thxs Securit�rnstrument, and�b} any other of
<br /> B�rrower's rights�other than the right to an�r�fund of unearned premiums paz.d by�arrower)under all
<br /> u�urance po�icxes ca�eri.ng the Propert�r, �n�ofar as such r�ghts a�e appiicabxe to the co��rage of�he
<br /> Property. Lender may use the insurance pra�eeds e�t.�er�o repa�r ar restore the Property or to pa�r amounts
<br /> unpa.id under the Note or th�s Se�uz�ty InsYrumen�, vvhether or nvt then due.
<br /> �. Occupancy. Bvrrower sha11 oc�u '
<br /> py, establYsh, and use the Property as B�rrower's principal r�sidenc�
<br /> within 6D days after the executxon of xhis Security Instrumen�and sha�l continue�to o�cupy the�.'raper�y as
<br /> Borrawer's principal residence for a�leas�one yea.r after th�date of occupancy, unless Lender otherwise
<br /> agre,es in vvr�ting, vvh�ch consent shalx not be unr�asonably wx�hheld, or unless e��enuating circums�anc�s
<br /> exisx�vhich are beyond�rrrower's cantrol. '
<br /> 7. Preservat�on, �aintenance and Protection of tne Property: [nspections. Borrower sha��no�destro
<br /> �y
<br /> dama.ge or impaxr the Property, a.l�ow the Property to deteriorate or commi.t vvas�e vn the Properxy. Whe�her
<br /> or not Borrovver is res�ding in the Property, Borrawer sha1�maintaa.n�Yie Proper�r in order to pre�en�the
<br /> Prope�y from d�teri�rating or decreasxng xn�a1ue due to i�s condi��on. Un.Iess it is determi.ned pursuant�o
<br /> Sec�ion 5 that repa.ir or restorat�on�s no�ecanomieally feasible, Barrower sha.�i promptl�repair the Praper�r
<br /> �f damag e d to a�oi d f urt her d�teriorat�on or damage. If insurance or condemnation proceeds are paad in
<br /> connec�ion with damage to, or the taking af, the Property, Borrower sha11 b�responsib�e for repair�ng or
<br /> restoring�he Propez-�y anly if Lender has re�eased proceed.s for such purposes, Lender may d�sburs�proceec�s
<br /> N�BR�#SKA-SingIe Famify-Fannie Mael�re�ldie Mac UNIFORfVi INSTRUM�NT Form 3�28'I I�1
<br /> VMP C�7 VMP6tNEy{Z 3�2}.DO
<br /> Wolt�rs Kl�wer�inancial S�nli�es Pags 7 af 17
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