|
��15��7��
<br /> A�I insurance pol�cies requir�d b� Lender and renewals of such po�icies shal�be subje�t to Lender's r��ht to
<br /> disappro�e such policies, shall include a standard rx�or�gage c�aus�s and shall name Lender as n�or�gagee
<br /> andl�r as an addi�iona��oss pa�ee. I,ender sha��ha�e�h�ri�ht ta hold the po�icies and renev�ai cer�z�ca�e�. �f
<br /> � Lender requ�res, Borrov��r shall prampti�r���e to Lender a�l rec�ip�s af pa�d premiums and ren��al notices.
<br /> �f Borrow�r o�tains any farm�f�nsuran�e coverage, not o�herwi�e required by I,�nder, for damage�o, ar
<br /> destruction of, �he Praper�y, such policy shai� �n�lude a s�andard mortgage clause and shai� name L,�nder as
<br /> mor�gagee andlor as an addi�ional loss paye�.
<br /> In the e�ent of�oss, Borrourer shal�g���pron�pt no�ice ta�he insuran�e carr�er and Lender. Lender n�ay
<br /> make proof of loss if na�made prorx�p�Iy by Barrower. Un�ess Lend�r and Borro�er o�herwise agre�in
<br /> writing, any insurance proce�ds, wh�ther ar not the under�ying �nsurance�as required b�Lender, shal�be
<br /> applied�o restora�ion�r repair of the Property, �f�he restorat�on or repair�s econom�ca��y feas�ble and
<br /> Lender's security�s not Iessened. During such repair and restora��on per�od, L�nder sha��have the right to
<br /> hold suc�.xnsuranc�proceeds unt�� L.ender has had an opportunity to insp�c�such Praper�� ta�nsure�he
<br /> vvork has been c�mple�ed�o Lender's sa�isfaction, provided�ha� such inspection sha�l be unde�aken
<br /> pr�mptl�. Lender may�.isburse procee�.s far the repairs and restara�ian in a sin��e pa}�ment or�n a series of
<br /> pra�ress paymen�s as the work is comp�eted. Uniess an agreement�s made in writing or App�i�a�le Lavv
<br /> requires in�erest�o be paid on such insurance proceeds, Lender shall nat be required�o pa�Borrower any
<br /> in�erest or earn�ngs an such proceeds. Fees far publ�c adjus�ers, or o�her th�rd par�ies, re�ained by Barrower
<br /> shal� no�b�paid out of the insurance proceeds and sha�� be the s�le nb�igat�on of Borrower. �f the res�ora�ion
<br /> or r�pair�s na�econ�m��a�I�f�as�bl�or Lender's securi��r wau�d be��ssened, �he�nsurance praceeds shall be
<br /> app�ied�o�he sums secured by�his Securi�y �ns�rument, whether or not then due, wi�h�he excess, if any,
<br /> paid to Borrflwer, Su�h insurance procee�.s sha��be app��ed in the order pro��ded for in Sect��n�.
<br /> �f Barrower abandons th�Praper�y, Lender ma� �Ie, ��go�iate and settl�any available insurance cla�m and
<br /> re�ated ma��ers. If Borrower does na�respond within 3�days ta a notice from�..,�nder�ha��he insurance
<br /> carrier has offered to se��Ie a claim, then Lender may neg�tiate and se��Ie the c�aim. The 3�-day period v���l
<br /> �begin�vhen the nflt�c��s g�ven. �n either��ren�, or i�Lender acqu�res�he Proper��under Se�ti�n 22 or
<br /> o�herw�se, Borrov�er hereb� assigns �o I.�nder�a} Barrower's rights�o any �n�urance pr�ce�ds in an amaunt
<br /> not�o exceed the amoun�s unpaid under�he Note vr this Securit� �ns�rum�n�, and �b} any a�her�f
<br /> Borr�wer's rights �o�h�r than the r�ght�n any refund af unearned premiums paid by B�rr�wer}under a11
<br /> insurance pnlicies covering�he Property, ins�far as su�h r�ghts are applicab�e�o the caverage af Y�e
<br /> Proper�y. I,,�nder may use�he�nsurance proceeds either to repa�r or restore�he Proper��r ar to pay amounts
<br /> unpaid under the No�e�r this �ecurity Instrumen�, whether ar no�th�n due.
<br /> 6. �ccupancy. Borrower shall occupy, estab��sh, and use�h�Proper�y as Barrower's principai res�dence
<br /> vv�thin�D days af�er�he execu�ion af this Securi�y �ns�rument and s�a���on�inue to occupy the Proper�y as
<br /> garrower's principal residence for a�leas��n�year af�er�he dat�of��cu�ancy, unless Lender atherwise
<br /> agrees in wr�ting, wh�ch consent sha11 n��b�unreasona��y w�thheld, or un��ss extenua�ing c�rcunzs�ances
<br /> e��st which are beyond Borrower's control.
<br /> 7. Preservativn, Maintenance and Protect�vn of the Pr�perty; �nspect�ons. Barr�v�er shall na�destro}�,
<br /> damage or impair�he Property, a��ow the Praper��r to deteriorate ar comrrut waste on�he Pr�per��. Whether
<br /> or not Barrower is resid�ng in�he Proper�y, Borro�er shall maintain the Proper�� in order to pre��n�the
<br /> Proper�y from deteriora�ing or decreas�ng in�a�ue due tfl i�s condi�ion. Un�ess �t is de�erm�ned pursuant ta
<br /> Sec��on 5 �ha�repa�r or r�s�oration is no�econom�cal�y feasible, Borrovv�r sha11 prnmptl�repa�r the Proper�y
<br /> if damaged to avo�d fur�her deterioration or damage. �f insurance ar c�ndemna��on proceeds are paid in
<br /> connection w��h damage�o, or�he tak�ng of, the Pr�per��, Borrnw�r sha�i be respons�b�e for repairing ar
<br /> restaring the Propert�onl}� if Lender has reieased proceeds for such purposes, Lender ma�d�sburse pro�eeds
<br /> N�BRASKA-5ingle F�mily-��nnie MaelFreddie M�c UNIF4RM fNSTRUMENT Form 3Q28 1lOi
<br /> VMP� VMPfi(NE=�13Q�)
<br /> W�lters Klt�wer�inanGial 5er��c�s Page 7 of 17
<br />
|