|
��15�5495
<br /> additionai I�ss payee. Lender shall ha�e�he righ�to hold�he palicies and renevva� ce�tificates, If Lender requires,
<br /> Borrtivver shail promptly gi�e to Lender a.�I receipts of paid premiums and renewal no#ices.�f Borrawer o�tains a��y fonn
<br /> of�nsurance cove�age,not otherw�se�equired b�Lender,for damage�o,or des�ruct��n af,the Propert�,such pal�cy shail
<br /> inciude a standard martgage cZause and shall name L�nder as mor�gagee andl�r as an add�t�anai�oss pay�e.
<br /> �n�he even�of loss,Barr�vver sha11 give prompt notice to the insurance ca�rier and Lender.Lender ma�make pr��f
<br /> of loss if nat made promptly by Borrov�rer. Unless Lender and Borra�er otherwis�agree in v�ri��ng, any �nsurance
<br /> proceeds,whe�her or not the underlying insurance v�ras required�by Lender,sha11�e applied to res�ora.tion or repair af�he
<br /> Property,if�he restQration vr repair�s economically feasible and Lender's security is no�lessened.I]uring such repair and
<br /> restora�i�n period,Lend�r shali have�he righ�ta ho�d such insurance proceeds until Lender has had an opp�r�uni�y to
<br /> inspect such Property to ensure the work ha.s been comple�t�d to Lender's sat�sfaction,provi�i�d that such�nspecti�n shail �
<br /> be undertaken promptly.Lender may disbur�e pro�ee�s for the repairs and res�ara�ian in a single payment ar in a s�ries af �
<br /> pr�gress payments as�he work is cornpieted,Unless an agre�men�is made in writing or Appli�able Law requires int�arest
<br /> ta be pazd on�u�h insurance proceeds,Lend�r shall n�t be required�o pay Borrflwer an�int�res�or earnings on such '
<br /> praceeds.Fees for public adjusters,�r other third par�ies,retained by Borrowe�shall not be paid aut�f the�nsurance
<br /> proceeds and shall be the sole o�b�igation af Borro�er.�f th.e restora�i�n or repair is not��on�micall�feasible or Lendear's
<br /> security would be lessen�d,th�insurance proceeds shal�be applied�o�the sums secured by this Security Instrurn�nt,
<br /> whe�her or n�t�hen due,w�th th��xcess,if a,�y,paid ta Barro�nr�r.Such insu�ance proceed�sha11 be applied in the�rder
<br /> prov�ded far in Section 2.
<br /> �f Barrower abandons�he Proper�,Lender may file,negatiate and sett�e any a�aila�le insu�ra.r��e claxm and related
<br /> matters.If Bo�-rower does no�resp�nd w�thin 3D days t�a n�t��e from Lend�r that�.h�insurance carrxer has offered to
<br /> sett�e a claim,then Len�ier may negotiate and set��e th�claim.The 3�-day period wiX���gin vvhen the notice is gi�en,In
<br /> either ev�nt, or if Lender acquires the Prapearty under Sect�on 22 or otherwise,Borr�,wer hereby assigns#a Lender
<br /> �a�Borrawer's r�gh�s to any insurance proceeds in an amoun�not�a exceed the amoun#s unpazd under the No�e ar th�s
<br /> Secur��y�Instrument,an.d�b�any other of Ba�rawer's rights�o�her than the right to any refu�d af uneaxned premiums paid
<br /> by Borrovver�under al��nsurance p�licies cove�ing th�Praper�y,insofar as su�h rights are applicab�e to�he covera�e�f
<br /> the Praperty.Lende�may use the insurance praceeds ei�her�o repair or res��re the Property�r to pay amaun�s unpaid
<br /> und�r�he Note or this Secu�ity Instrumen�,�hether or nat then due,
<br /> �.�ccup�ncy.Bor�rower shal�occupy,estab�ish,and use�he Property as Borrawer's prin�ipa�residence within�D
<br /> days after the e�ecu�ion of�h�s Secur�ty�ns�ument and shal�continue�o ticcupy the Prope�ty as Barrower's pr�nci�al
<br /> res�denc�fa�r at�east one year after th�date of accupancy,unless Lender atherwise agrees�n writing?which cansent shall
<br /> nat be unreasonab�y withheid,or un�ess e�tenua�in�ci�rcumstances exist which are bey�nd Borrawer'�contr�l.
<br /> 7.Freser�ativn,Ma�ntenance and Pro�e�tian of the Pr�perty;Inspections.Sor�r�wer sha�l no�destroy,darnage
<br /> or impair�he Property,all�v�the P�roperty�o deteriorat�or cornmit�nraste�n the Property.�Vheth�r 4�nv�Bvrro�ver is
<br /> residing in the Property,Borrower�hal�mainta�n the Property in order ta pre�en��h�Praperty f�am det�r�ora�ing o�r
<br /> decreasing in va,lue due�a its condi��an.iJn�ess it is determined pursuant to Section 5�tha�repai�or res��ra�i�n is n�t
<br /> economi�a�iy�easible,Borrower shall promp�ly repair the Pr�p�r�y if damaged to avoid furtYier deterioratian�r dama�e.
<br /> 7f insurance or candemnation proceeds are paid�n cannection�nrith damage to,ar the�aking�f,the�raperty,Borrower '
<br /> shall be responsible f�r r�pairina or r�s�oring the�r�perty only if Lende�r has re�eased proceeds for suGh purpos�s.Lend�r
<br /> may disburse proc�eds for the repairs and restora��on��a singie payrnent or in a series of progress payments as the wark j
<br /> is campleted.If the znsuran�e or condemnatxon pro�eeds are ntit suffic�en�to repai�r or restore the Proper�y,Borrovver is
<br /> not reli��ed of B�rrower's obliga��on for the completion of su�h repair or r�storation.
<br /> Lender or its agent may make reasonabl�entries upon and inspectians of th�Praperty.�f z�has reasanable cause,
<br /> L�nder may��.spect th�zn�eri�r af�he impravements on the Praper�y.Lender shali give Bo�rrower n�tice a��he�une of ar
<br /> pri�r to such an inter��r inspec�ia�specify�ng such reasanable cause.
<br /> g.Borrov�er's Loan Applicat�on.Barrower shal��e in defaui�if,dur�ng the Loan application pro�ess,Barrow�r or
<br /> an�pe��ans or�nt���es ac��ng a�the directiqn af Borrower�r with Bor�rov�er's know�e��e ar�onsent gave materiaily
<br /> false, misl�adin�, �r xna�curate information o� ��atements to Lender �or failed to provide Lender �i�h ma�erial
<br /> NEBRASFCA-Single Fami�y-Fann're Ma$IFreddie�ac UNIFaRi�IN5TRUi�ENT with NIERS F'orm 3428 11a7
<br /> Page�vf�3 - i �
<br /> i�s,inc. Borrawer�s}lnitials 4�
<br />
|