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201502877
<br /> All itisura�nce polzczes xequixed by Lendez� and z�enewals of such policies shall be subject to Lender's right to
<br /> disapprove such policies, shall include a standard mortgage clause, and shall uaine Lender as inortgagee
<br /> and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If
<br /> Lender requires, Borrower shall protnptly give to Lender all receipts oPpaid prefniuins and renewal notices.
<br /> If Borrowar oblains any form of insurance co�arage, not otherwise required by I,e��dex, foz•dalnage to, or
<br /> destruction of, the Property, such policy shall include a skandard mortgage clause and shall naine Lend�r as
<br /> mortgagee and/or as an acfditional loss payee.
<br /> In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Le�der may
<br /> inalce proof of loss if not inade proin�tly by Borrower. Unless Lender az�d Boz'rowex otk�.erwise agree in
<br /> writing, any insurance proceeds, whether or not the underlying insurance was required by Lendar, sha11 be
<br /> applied to restoration or repair of the Property, if the restoration or repair is econoinicaily feasible and
<br /> Lender's security is noE lessened. During such repair and restoration periad, Lender sha11 have the right to
<br /> hold such insurance proceeds iuitil Lender has had an opportunity to inspect such 1'roperty to eizsure the
<br /> woric laas been cofnpleted to Lender's satisfactioz�, pz•ovicled that such inspection shali be undertal�en
<br /> proinptly. Lender inay disbtu'se proceeds for the repairs and restoration in a single payinent or in a sex'ies of
<br /> progress payinents as the work is completed. Uizless an agreeinent is inade in writing or Applicable Law
<br /> requir�s inter�st to be paid on such instu'ance proceeds, Lender shall not be required to pay Borrower any
<br /> interest or earnings on such proeeeds. �'ees for public adjusters, or other thircl parties, retaiized by Borrowex•
<br /> shall not be paid out of the insurance praceeds and shall be the sole obligation of Borrovver. If the restoration
<br /> or repair is nat�canonucally feasible or Lender's security would be lessened, the insurance proceeds shall be
<br /> applied to tl�e sums seeured by this Security Tnstruinent, whether or not then due, with Che excess, if any,
<br /> paid to Borrower. Such insivaiice proceeds shall be applied in the order provided for in 5ection 2.
<br /> If Borrower abandons the Fro�aerty, Lender m�y file, negotiate and settle any available insr.u•ance claim aud
<br /> related inattars. If Barrow�r does not responci within 30 days to a notice from Lender that the insurance
<br /> carrier has offered to settle a claim, then L,ender may negotiate aud settle the claiin. The 30-day period will
<br /> begin when the natice is gi�en. In either event, or if Lender acquires the Property under 5cction 22 or
<br /> othErwise, Borrow�r h�reby assigns to Lender{a} Borrowe�'s xights to any insurance proceeds in an a�nount
<br /> not to exceed the�mounts unpaid under the Note or this Security Instruinent, and(b) any other of
<br /> Borrower's rights{other than the right to any refund of unearned pretniums paid by 13orrower}under all
<br /> insurance policies covering the Property, insofar as such rights are�pplicable to the coverage oF lhe
<br /> Property. Lender may use the insurance proceeds either to repair or reslora the Property ar ta pay at�xounts
<br /> unpaid under the Note or this �ecuriCy Ir�st�•iunent, whether or nnt tl�en due.
<br /> 6. Occupancy. Borrower shali acoupy, establish, and use the Property as Borrower's principal residence
<br /> within 60 clays a#�er the executian of this Security Instrunient�id shall continue to occu�y the Property as
<br /> Borrower's princip�►1 residence for at least one year after the date of occupancy, iu�less Lender otItexwise
<br /> agrees in writing, which cansent shall not be unreasonably withheld, nr unless extenuating circumstances
<br /> exist which are beyond Barrawer's contral.
<br /> 7. Preservation, I►Aaintenance anc� Protection of the Property; lnspectians. Iiorrower shall noc destroy,
<br /> damage or impair the Property, allow the Property to deteriorate or coirnnit waste on Cha Property. Whethet•
<br /> or�iot Borrower is residiiig in the Property, Borrower shall maintain the Property in ordcr to prevent the
<br /> Property frain det�riorating or decreasing in�a1ue due to its condition. Unless it is detet7mined pursuant to
<br /> Seckion 5 that repair or restoratson is not economically fe�sible, Borrower shall promptly repair the Property
<br /> if dainaged to avoid further de�erioration or dartnage. If insurance or condeinnation proceeds are paid in
<br /> connection with dainaga to, or the taking af, tih�Property, Borrower shall be res�onsible fox repairing or
<br /> restoring the I'roperty only if T_,eilder has released proceeds for such purposes. Lender may disburse proceecls
<br /> aaooasso
<br /> NEBRASKA-Single Farl1ily-Fannie MaelFreddie Mac UNIFOW�+1 INSTRUMENT Form 302$11D1
<br /> VMI'p VMP6(NE){1302�
<br /> Woliers Kluw er Financial Services Page 7 of 1
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