Laserfiche WebLink
��14�7�53 <br /> A�� �nsurance po�icies requ�red by Lender and renewa�s of such policies sha11 be subjec�to Lender's r�gh�to <br /> d�sa�pra�v�such po��cies, sha�� �nc�ude a standard�nar�gag�clausey and shall name L.ender as mar�gagee <br /> andlor as an addi�ional �oss pa�ree. L�nder shail ha�e�he r�ght��ho�d the po�icies and renewal certi�ca�es. If <br /> Lender requires, Borrower sha��pr�mptly g��e t� Lender a1I rec�ipts of paid premiums and renewal no�i�es. <br /> �f Borrow�r�b�ains any ftiram of�nsurance coverag�, not otherwise requ�red by Lender, for damage�o, or <br /> des�ruc��on of, the Property, such policy sha�� include a standard mor�gage c�ause and sha1X name Lender as <br /> mor�gagee andlor as an add��iona� �oss pa�ee. <br /> �n the even�af I�ss, B�rrower shall g��e promp�not�ce tn�he insurance carr�er and Lender. Ilender may <br /> mak�proof af loss�f not made prornpt�y by B�rr�wer. �[]nless Lender and Barrov�er atherw�se agr�e in <br /> wr�t�ng, any insuranGe prace�ds, vvhet�.er Qr no�th�underly�ng insurance was required by Lender, sha�1 be <br /> applied�a restora�ion or r�pair of�he Prapert�, if the restorati�n or repair is economieally feasible and <br /> L�nder's secur��y is no��ess�ned. During such repair and res�oration period, Lender shall�a�e�he right to <br /> hold such insurance proc�eds unt�1 L.�nder has had an�ppar�unz�y to inspec�such Proper���o ensure�he <br /> w�rk has been comp�eted to Lender's satisfact�on, pr��ided�hat such inspec�ion sha���e under�aken <br /> pranzptXy. Lender may d�sburse proceeds for�he repa�rs an�.restora�ion in a single paymen�or in a series of <br /> progress pa�rments as�he work�s c�mp�et�d. Unless an agreement is made in writing or Appl�cab�e Lavv <br /> requires in��r�st�o be paid on such�nsurance proceeds, Lender shall no��e required��pay Barrower any <br /> inter�st or earnings�n such praceeds. Fees for publi�ad�usters, or other�h�rd parties, r�tained b�r Borr�wer <br /> shal�not��pa�d out nf the�nsuraric�proceeds and shall�e the so�e abXiga�ion af Borrnwer. �f the restoratian <br /> or repair is n��economical�y feas�b�e or I.ender's securi��would be lessened, fh�insurance pro��eds shal�be <br /> applied to�he sums secured by this SeGur�ty �nstrument, �vhether or not then due, V��fi�'l�����.C�55, if any, <br /> paid�o Borrower. Such insurance�roceeds sha��be applied�n�he nrder pr�vided for in Section Z. <br /> �f B�rrawer abando�s th�Praper��, L�nder may f�1e, neg�tiat�and se���e ariy a�ai�abxe�nsurance c�a�m and <br /> re�ated mat�ers. �f Borr�wer does not respand wi�hin 3D�ays ta a notice from I.end�r that the insurance <br /> carrier has off�red to s�t�ie a claim, then Len�er may n�go�iate and settle the��a�m. The 3�-day period�v�1� <br /> begin when the notice��g�ven. �n either e�en�, ar if Lender acquires the Proper�y under Sect�on 22 ar <br /> o��erwise, Bnrr�wer hereby assigns�o Lender�a} Barr�w�r's righ�s to any �nsurance proc��ds in an am�un� <br /> no�ta ex��ed the amounts unpa�d under the No�e or�h�s Security Ins�runzen�, and �b} any��her�f <br /> Barr��rer's righ�s �other than�he righ�t�an�r refund af unearned prem�ums pa�d�y Borrower�un�ier a�l <br /> �nsurance pol�c�es�o�ering the Property, insofar as such righ�s are app��cable�o�h�coverag�of the <br /> Proper�y. Lender m�a�use the insura�a.ce proceeds e��her t� repa�r or rest�re�he Pr�per�y or to pa�amounts <br /> unpaid under the Na�e or��iis �ecuri���nstrument, whe�her ar no�then due. <br /> �. Dccupan�y. Borrower sha�l�ccupy, �stab���h, and use�he Proper�y as Borrower's princ�pa� res�denc� <br /> with�n��days after the execut��n�f fhis Security Instrumen�.and sha�1 c�ntinue�o occupy the Proper�y as <br /> Borrov�rer's pr�ncipal res�denc�far a��eas�one year after the date of accupanc�, un�ess I.�nder otherwise <br /> agrees �n wri��ng, wh�ch�onsen�shal�not be unreasonably withheld, or unless extenuating cir�ums�ances <br /> exist wh�ch are beyond Borrower's con�rol. <br /> 7. Preser�at�an, Maintenance and Pratection �f the P��perty: Insp�ctivns. Barrawer sha��n�t destr�y, <br /> damage or impa�r�he Proper�y, aliow the Pr�per�y to deteriorate or�ommi�waste on th�Property. 'VL�h.ether <br /> or nvt B�rrov�er is resid�ng in�he Fr�per�y, Borrower sha11 maintaxn�he Pr�per�y in order�a pre�en�the <br /> Proper�y froxn deter��ra��ng ar de�reasing in�alue due t�its cond���on. Unless it is de��rmined pursuant�o <br /> Sect�an S �ha�repa�r ar res��rat�on is no�economically feasible, Borrawer sha�I prompt�y repair�he Praperty <br /> if damaged�o avo�d fur�her deteriora��on�r damage. �f insurance or cand�mnation proceeds are pa�d in <br /> connect�on with damage�o, or�he�aking of, �he Frtiper�y, Borrower sha��be responsib�e for repair�ng or <br /> res�aring the Proper�y on���f L�nder has released praceeds for such purpflses. Lend�r may d�s�urse proceeds <br /> N�BRASKA-Singfe Family-Far�r�ie MaelFreddie Mac UNi��RM fNSTRUM�NT Form 3�28'�1�1 <br /> VMP� VMPfitNEf�13a2) <br /> Wa�ters Kluwer�inancial Ser�ices Page 7 of�7 <br />