|
��15�3�45
<br /> A1� insuran�e po�icies required by Lender and renewa�s of suCh po�ic�es sha�l be subject�o L,ender's right�o
<br /> disapprove such policies, shal� include a s�andard mflr�gage c�ause, and shall name Lender as rnor�gagee
<br /> andl�r as an addi�iflnal loss payee. Lender sha�i ha�e the r�gh� to hold the p�licies and renewal cer�ifi�a�es. �f
<br /> Lender requires, Borrov�rer sha1l prompt�y giv��a Lender a�l rece�p�s�f pa�d premiums and renewal notices.
<br /> If Borrower ob�ains any form of�nsurance co�rerage, nat otherwise required by Lender, for damage to, or
<br /> destructinn of, the Property, su�h pol��y shali include a standard mortgage c�ause and shall name Lender as
<br /> mortgag�e andlor as an addi�ional loss pa�e�.
<br /> ��a the event of loss, Borrower sha11 give prompt not�c�to the insuranc�carrier and Lender. Lender may
<br /> make�raof of�oss xf not made prom.ptly by Borr�vver. Unl�ss Lender and Barrower othervv�se agree�n
<br /> v�r�tin�, any insurance proce�ds, whether�r not the underlying insurance vwas required b� Lender, sha1�be
<br /> applied ta res�orati�n�r repair�f the Propert�, if the res�oration or repa�r is e�onomzcal.��r feasib�e and
<br /> I,ender's securi�y is no�Iess�ned. Dur�ng such repair and restorat��n periad, Lender shali have�he righ�ta
<br /> hold such �nsuranc�pro�e�ds un��l Lender has had an opp�r�unity ta inspec�such Proper�y ta ensure�h�
<br /> work has been completed�o Lender's sa�isfaction, pravided that such �nspect�on shall�e undertaken
<br /> promp�Iy, Lender may dis�urse proceeds for�he repairs and restora�ion in a single paymen�or in a s�ries of
<br /> progress�aym�ents as the wark is completed. Unless an agre�ment is made in writ�ng or Applicable Law
<br /> requires �n�erest to be paid on such�nsurance proceeds, Lender shail na�be r�qu�red�o pay Bflrrov�er any
<br /> �n�eres�or earnings on such proceeds. F�es for publ�c ad�usters, or�th�r third part�es, retained by Borrovwer
<br /> sha11 nat be pa�d out of the insurance praceeds and shai�be the sole obliga�ion af Borrower. If�he res�ora��on
<br /> ar repair is no���onomical�y feas�ble or Lender's secur�ty v�ould be��ssene�i, the�nsurance proceeds sha11 be
<br /> app��ed��the surns se�ur�d by�his �eGur�ty�nstrunlen�, whether or not t�.�n dues W�.��1��1.��XC�55y if any,
<br /> paid to Borrower, Such insurance pr�ceeds shal�be applied in the�rder provided for in Section 2.
<br /> �f Borrourer abandons th�Property, Lender may f�Xe, nego��a�e and settle any available insurance c�a�n1 and
<br /> re�ated ma�ters. �f Barrov�rer daes n�t respond w�th�n 30 days to a not�ce from�Lender�ha�the insurance
<br /> carrier has offered�o settle a claim, �hen Lender may negotia�e and settle�he claim. The 3�wda�period v�ii�
<br /> begin when the notice�s given. �n ei�her event, flr if Lender acquires th�Prop�r��under Sec�ion 2�or
<br /> otherur�se, Borrower her�by assigns�o Lender�a} Borrower's righ�s�o an�insurance proceeds in an amount
<br /> no�to e�ce�d the amounts unpaid under the No�e or this S�cur��y �nstrument, and�b} any o�her of
<br /> Borrower's rights �other than the rxght ta any refund of unearned premiums paid by Borrov�ver}under all
<br /> �nsurance po�zc�es co�er�ng the Pr�per�y, in�ofar as such rights are applicable���he�o�erag�of�he
<br /> Proper��r. Lender may use the�nsuran�e�ro�eeds ez��er to repa�r or res�ore the Property or�o pa�a�moun�s
<br /> unpaid u�.der the Nate or this Secur�ty �ns�rument, whether ar no�then due.
<br /> �. �ccupancy. Barrav�rer sha�� occup�, establish, and use the Praperty as Borrower's pr�ncipa�res�dence
<br /> v�i�hzn��days after th�execu�ion of�h�s Secur�ty �nstrum�ent and shall cont�nue to occup�the Pr�per��as
<br /> Barrower's principa�residence far at�east one year af�er�he date af oc�upane�, unless Lender othei-u�ise
<br /> agrees in vvri��ng, wh�ch consen�shall not be unreasor�ably withheld, or unl�ss extenuating��rcumstances
<br /> e��s�wh�ch are beyond Borrower's controi.
<br /> 7. Preserrrat�an, Ma�ntenance and Protecti�n of the Property; �nspectinns. Borrower shail nat destroy,
<br /> - damage or�mpa�r the Proper�y, al�ow �he Proper�y�o deter�orate or commi�wast�on the Property. Whether
<br /> or no�Borrower is re�iding in the Pr�perty, Borrnwer shall maintain the Prope�y �n ord�r to pre�en��he
<br /> . Praper�y from deteriora��ng or decreasing in value due�o its cand����n. Un��ss ���s d��ermin�d pursuan�to
<br /> S�cti�n 5 tha�r�pa�r flr restora��an is no�economicall�r feasibie, Barr�vver sha�l promptiy repair the Proper��
<br /> �f damaged�o a�ro�d further de�eri�ra�ifln�r damage. �f insurance flr condemnat�on proceed� are paid in
<br /> c�nnection wi�h damage t�, or�he tak�ng of, the Prapert�, Borrower�ha��be re5ponsible for repa�ring�r
<br /> r�storing the Propert��n�y if I.�nder has r��eased proceeds for such purposes. Lender may disburse proceeds
<br /> N�BRASKA-Sing1�Family-Fannie MaelFreddie Mac UNI�ORM[NSTRUMENT �vrm 3028 11DI
<br /> VMP['g, VMP6�NE3��30Z3
<br /> Wa�t�rs Kluw�r Financia!5er�i�es Page 7 of 17
<br />
|