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��14�7�75 A�1 insurance po��c�es required by Lender and rene�v�rais of such pa�zc��s shall be subject to Lender's right t� disappro�e su�h pol�cies, shall inc�ud�a s�andard mor�gage clause, and sha11 nam� Lender as m�r�gagee andlor as an addi��onall�ss payee. L.ender sha�l ha�e�he r�ght to h�ld�he poli�ies and renevval��r�i�cat�s. If Lender r�qu�r�s, Borr�wer shal�pro�mp��y give to Lender a�i rece�p�s af pa�d pr�miums and ren�wal notices. �f Borrow�r obta�ns any form af insurance co�rerag�, nat other�r�s�r�quired by I.�nder, for damage�o, or destruct�on of, the Proper�y, such pol�cy shal� include a standard rnor�ga�e clause and sha��nam�Lender as mflr�gagee an.dlor as an addi�ional l�ss payee. �n�he event�f��ss, Borrower sha11 g��e prompt notice to the insurance carr�er and Lender. Lender may mak�pro�f of�oss�f no�made promptly by Borrower. Unless Lender and Borrnwer otherw�se agree in v�rrit�ng, an�insurance proceeds, v�rhether or not the underlyin��nsuranc�v�as required��Lender, shall be appl�ed�fl res��ra�ion or repa�r of the Proper��, if the r�storat�on or repair is economi�al�y feasible and Lender's security is not les�ened. During such repair and restaration period, Lender sha��have the r�ght�o h�ld such �n�urance pracee�s until Lender has had an�ppor�u�ity�o inspec�su�h Froper�y�o ensure the work has been completed to Lender'� sat�sfa�ti�n, pro�id�d that such inspecti�n shall be under�ak�n promp��y. Lender may disburse praceeds for�he repairs and restorat�on�n a single payment or in a seri�s of progress paymen�s as the w�rk is campleted. Un�ess a�.agreemen�is made�n wr��ing�r App�i�ab��Law requires �nteres��v be pa�d on such insurance proceeds, Lender shall nat�e requ�red�fl pay Borrower any �nter�st or earnings on such proceeds. Fees f�r public adjusters, ar other�hird parties, reta�ned by Borrower sha1�not be pa�d ou��f the�nsuranc�proceeds and sha�l b�the so�e ob�igation of Borrov�er. If the restoratian �r repa�r�s not ec�nomically feas�ble ar Lender's �ecurity would be�essened, �he insurance proceeds shall�e app�ied ta�he suxns s�cured b�r�his Securzty�nstrumen�, wheth�r or nflt then due, wi�h the excess, if any, pa�d��Borrov�rer. Such insurance proceeds sha�l be appX��d in the order provided for in S�c�ion 2. �f Borrower abandons the Property, L.ender may �ie, negot�a�e and se�tle any avai�ab�e insura�nce claim and related mat�ers. If Borrower do�s no�resp�nd w�thin 3�days�o a notice from Lender tha��ie insuranc� carrier has offered�o settle a c�aim, �hen L.ender may neg��a�e and settle the claim. The 3a-day period v�il� begin when the no��e is g�v�n. �n�ither��ent, or if Lender acquires�he Proper�y under Section 2�or tith�rwise, Borrower�ereby assigns ta I�nd�r�a} Borrow�r's r�ghts to any insurance proceet�s �n an amoun� not�o exceed�he amaunts unpaid under the Note or this Securi�y Instrumen�, and�b� an�r other of Borrower's rights �o�her than�h�r�ght to an�refund of un�arned premiums paid by Borr�v�rer}und�r a�l insurance po�xcies c��ering the Praper��, �nsofar as such righ�s are app��cable to�he caverage of�he Praper�y. I.�nder may use the insurance proc�eds either�o repair or res��re the Proper��or ta pa� amoun�s unpa�d under�he Note ar th�s S�curity Ins�rument, whether or no�then due. �. �ccupancy. B�rr�w�r shall ac�upy, es�abiish, and us��he Proper�y as Borrow�r's principal r�sidence with�n d�days after�he execu��on af th�s Secur�ty Instrument and sha�l cont�nue�a occupy th�Propert}�a� Borrower's prine�pal residence for a�Ieast one year after�he da�e of occu�ancy, unless I.ender��herwise agrees in writing, which�onsen�shall not be unreasonab�y withheld, ar un�ess�x�enuating circumstances � exist which are beyond Borrower's con�rol. 7. Pre�er�at�an. Maintenance and P�ntection c�f th� Property; Inspections, Borr�v�rer sha��not des�roy, damage�r�mpair the Praper�y, a�lavv fihe Praper�y to det�riora�e or comm�it waste an�he Prop�r�y. V�he�her or not Borrower�s r�siding in the Prop�r�y, Barrov�rer shal�mainta�n the Property �n order to pre�en��he Property frnm de�eriorating or decreas�ng in value due�o its c�ndit��n. Un�ess it is deternuned pursuant�o Section 5 that r�pair or res�ora�ion�s na�ec�namical�y feasib�e, Borrower sha�l promptly repair the Prop�rt� if damaged to a�o�d fur�her de�eriorat�on or damage. If insurance or condemnat�on proceeds are paid in �on.nect�on wi�h dan�.ag�to, or�he taking of, the Prnper�y, Barrower sha�l be respnnsible for repairin�or restoring the Proper�y only �f L.�nder ha� re�eased proc�eds far such purposes. Lender may d�sburse proc�eds N��RASKA-5ingte�amily-Far�nie MaelFreddie Mac tJNI�DRM[NSTRtJM�NT Forrn 3[l28 11Di VMP� VMPfi{N��{�3DZ} Wa�ters Kluwer�inar�ciaf 5er�ices Page 7 v#7 7