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20Q001181
<br /> . LOAN #: 62490289
<br /> Unless Lender and Borrower otherrvise agree in writing,any application of proceeds to principal shall not extend or postpone the due
<br /> date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments.ff under paragraph 21 the Property
<br /> is acquiredbyLender,Borrower's rightto any insurancepolicies and proceeds resultingfrom damage to the Property prior to the acquisition
<br /> shall pass to Lender to the extent of the sums secured by this Security Instnunent immediately prior to the acquisition.
<br /> 6. Occupancy,Preservation,Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds.
<br /> Borrower shall occupy,establish,and use the Property as Borrower's principal residence within sixty days after the execution of this
<br /> Security Instrument and shall continue to occupy the Property as Bonower's principal residence for at least one year after the date
<br /> of occupancy,unless Lender otherwise agrees in writing,which consent shall not be unreasonably withheld,or unless extenuating
<br /> circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the Property, allow the
<br /> Property to deteriorate,or commit waste on the Property.Borrower shall be in default if any forfeiture action or proceeding,whether
<br /> civil or criminal,is begun that in Lender's good faith judgment could result in forfeiture of the Property or otherwise materially impair
<br /> the lien created by this Security Instrument or Lender's security interest.Borrower may cure such a default and reinstate,as provided
<br /> in paragraph 18,by causing the action or proceeding to be dismissed with a ruling that,in Lender's good faith determination,precludes
<br /> forfeiture of the Borrower's interest in the Property or other material impairment of the lien created by this Security Instrument or
<br /> Lender's security interest.Borrower shall also be in default if Borrower,during the loan application process,gave materially false
<br /> or inaccurate information or statements to Lender(or failed to provide Lender with any material information)in connection with the
<br /> loan evidenced by the Note, including,but not limited to, representations concerning Borrower's occupancy of the Property as a
<br /> principal residence.If this Security Instrument is on a leasehold,Borrower shall comply with all the provisions ofthe lease.If Borrower
<br /> acquires fee title to the Property,the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
<br /> 7.Protection of Lender's Rights in the Property.If Borrower fails to perform the covenants and agreements contained in this
<br /> Security Instrument,or there is a legal proceeding that may significantly affect Lender's rights in the Property(such as a proceeding
<br /> in bankruptcy,probate,for condemnation or forfeiture or to enforce laws or regulations),then Lender may do and pay for whatever
<br /> is necessary to protect the value of the Property and Lender's rights in the Property.Lender's actions may include paying any sums
<br /> secured by a lien which has priority over this Security Instrument,appearing in court,paying reasonable attorneys'fees and entering
<br /> on the Property to make repairs. Although Lender may take action under this paragraph 7,Lender does not have to do so.
<br /> Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Security
<br /> Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of
<br /> disbursement at the Note rate and shall be payable,with interest,upon notice from Lender to Borrower requesting payment.
<br /> 8. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security
<br /> Instrument,Borrower shall pay the premiums required to maintain the mortgage insurance in effect.If,for any reason,the mortgage
<br /> insurance coverage required by Lender lapses or ceases to be in effect,Borrower shall pay the premiums required to obtain coverage
<br /> substantially equivalent to the mortgage insurance previously in effect,at a cost substantially equivalent to the cost to Borrower of
<br /> the mortgage insurance previously in effect, from an alternate mortgage insurer approved by Lender. If substantially equivalent
<br /> mortgage insurance coverage is not available,Borrower shall pay to Lender each month a sum equal to one-twelfth of the yearly
<br /> mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to be in effect.Lender will accept,
<br /> use and retain these payments as a loss reserve in lieu of mortgage insurance.Loss reserve payments may no longer be required,at
<br /> the option of Lender,if mortgage insurance coverage(in the amount and for the period that Lender requires)provided by an insurer
<br /> approved by Lender again becomes available and is obtained. Borrower shall pay the premiums required to maintain mortgage
<br /> insurance in effect,or to provide a loss reserve,until the requirement for mortgage insurance ends in accordance with any written
<br /> agreement between Borrower and Lender or applicable law.
<br /> 9.Inspection.Lender or its agent may make reasonable entries upon and inspections of the Property.Lender shall give Borrower
<br /> notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br /> 10. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> condemnation or other taking of any part of the Property,or for conveyance in lieu of condemnation,are hereby assigned and shall
<br /> be paid to Lender.
<br /> In the event of a total taking of the Property,the proceeds shall be applied to the sums secured by this Security Instrument,whether
<br /> or not then due,with any excess paid to Borrower. In the event of a partial taking of the Property in which the fair market value of
<br /> the Property immediately before the taking is equal to or greater than the amount of the sums secured by this Security Instrument
<br /> immediately before the taking,unless Borrower and Lender otherwise agree in writing,the sums secured by this Security Instrument
<br /> shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured
<br /> immediately before the taking,divided by(b)the fair market value of the Property immediately before the taking.Any balance shall
<br /> be paid to Borrower.In the event of a partial taking of the Property in which the fair market value of the Property immediately before
<br /> the taking is less than the amount of the sums secured immediately before the taking,unless Borrower and Lender otherwise agree
<br /> in writing or unless applicable law otherwise provides,the proceeds shall be applied to the sums secured by this Security Instrument
<br /> whether or not the sums are then due.
<br /> If the Property is abandoned by Borrower,or if,after notice by Lender to Borrower that the condemnor offers to make an award
<br /> or settle a claim for damages,Borrower fails to respond to Lender within 30 days after the date the notice is given,Lender is authorized
<br /> to collect and apply the proceeds,at its option,either to restoration or repair of the Property or to the sums secured by this Security
<br /> Instrument,whether or not then due.
<br /> Unless Lender and Borrower otherwise agree in writing,any application of proceeds to principal shall not extend or postpone
<br /> the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments.
<br /> 11. Borrower Not Released; Forbearance By Lender Not a Waiver.Extension of the time for payment or modification of
<br /> amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not
<br /> operate to release the liability of the original Borrower or Borrower's successors in interest.Lender shall not be required to commence
<br /> proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured
<br /> by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any
<br /> forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy.
<br /> 12.Successors and Assigns Bound;Joint and Several Liability;Co-signers.The covenants and agreements of this Security
<br /> Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17.
<br /> Borrower's covenants and agreements shall be joint and several.Any Borrower who co-signs this Security Instrument but does not
<br /> execute the Note:(a)is co-signing this Security Instrument only to mortgage,grant and convey that Borrower's interest in the Property
<br /> under the terms of this Security Instrument;(b)is not personally obligated to pay the sums secured by this Security Instrument;and
<br /> NEBRASKA-Single Family-FNMA/FHLMC UNIFORM INSTRUMENT ^ J
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<br /> Form 3028 9/90 Amended 5/91 Ini t i a 1 s: (��<
<br /> NEVDEED Page 3 of 5 � '
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