201507173 - Laserfiche WebLink

Browse

��l 5�71 73 A��nsurance pa�icies required by Lender and renewa�s of such pol�cies sha��be subj�c�to Lender's righ�to disappro�e Sll�h polici�s, �ha�l �nclude a standard rn�rtga�e clause, and sha�i name L�nder as mor�gagee andlor as an addi��onal Ioss payee. Lender sha�I have the ri�ht to hold�he p�lic�es and renewa�certif�cates. �f Lender re�uir�s, Barrower sha��promp�Iy give t�Lend�r ai�receipts of pa�d premiums and renewal no�ices. If Borrower Qb�ains any form of�nsu�anc��v�rage, n�t atherwis�required b�Lender, for damage�a, or d�s�ruction af, the Proper�y, su�h pa�icy shall i��lude a standard martgage clause and sha11 name Lender as mortg�gee andlor as an add�tiona�loss payee. In�h�e�ent of�oss, Borr��rer sha��give prampt no�ice to the�nsuran�e carr�er and L�nder. Lender may make praof�f Iflss if na�made prompt��b�Borrower. Un��ss L�nder and Borr�vver�th�rwise a�ree�n writ�ng, an��nsuran�e proceeds, �rhe�h�r or not the under��ring�nsurance was required��Lender, sha11 he app�x�d ta restarat�an or repair of the Pr�perty, if�he r�starat�on or repair is econornical�y feasib�e and Le��.er's se�urity is no��ess�n�d. Dur�ng such repair and res�aratkan peri�d, L�nder shal�ha�e�he right t� hold suc�in�urance prace�ds un�il L.ender has had an appor�unity to�nsp�c�such Praper�y to ensure the work has�een�omp�eted ta Lender's sa�isfac�ion, provided tha�such inspec��on shal�be under�aken pr�mp��. Lender may d��burse proceeds for the repairs and res�orati�n xn a singXe paymen�or in a ser�es of progress payments as the work is comp�eted. Un�ess an a�xeement is made ir�writ�ng�r Applica�le Law requires�n�eres��a be paid an su�h insurance proceeds, Lender shal�not be requ�red to pay Borro�ver any in�erest or earnings on su�h proceeds. Fees for pub�ic adjusters, or other th�rd parti�s, re�ained by B�rr�wer shall nat�e pazd out af�he insuranc�proceeds and shali be the so�e o�ligation of Borrow�r. �f th�res�ora��on or repair is no�econamically feasible�r L.ender's secur�ty would be�essened, the�nsuran�e pr�ceeds shali be app�ied t��he sums secur�d l��r this Security�nstrurnent, v�rhe�her�r no�then due, wi�h�he e�cess, if any, paid to Bo�rr�w�r. Such�nsurance proce�ds shai�be appl�ed in�h�ord�r prow�ded far in 5e�t�on 2. �f Borrower abandons�he Prop�rty, Lend�r may fi�es negotiate and se�t�e any avai�able insurance claim and related ma�ters. If Borro�ver does not respand w�thin 3D days to a noti�e fram Lender�hat the�nsurance carr�er has off�red ta s�ttl�a clairn, th�n L.ender may nego�iate and�et�ie the claim. The 34-day perio�vW�� begin when th.e no��ce Xs gi�en, �n�ither e�en�, or�f Lender acquires th�Proper�y llnder 5ec�ion�2 or atherwise, Barrower hereby ass�gns��L�nder�a} Borr�wer's r�ghts��any insurance proceeds in an amount not to ex�eed the amoun�s un�a�d under the Note ar�his Securi�y Instrument, and�b�any o�her of Borrower's r�gh�s�other than�he righ��o an�r refund Qf unearned prern�ums paid by Borrov�er}under a11 insurance pal�cies covering the Proper�y, �nsafar as su�h righ��are appl�cable to the�overag�of�he Proper�y. L.ender nna�use the�nsurance groGeeds ei�her t�r�pair or restore th�Pr�per�y ar to pay�rn�un�s unpa�d under th�No�e or th�s Security�ns�rument, whe�her or no��hen due. �. C]ccupancy. B�rr��rer sha�l occupy} estab�ish, ar�d us�the Property as Barro�xrer's prinexpal residence within��days after�he execut�an of this Secur��strument a��.d sha11 con�inue�o occupy�he Praper��as Borrawer's princ�pal r�sidence far a�least�ne year after th�dat�of accupancy, uxa�.ess Lend�r otherwise agrees in writing, wh�ch consent shail nat be unreasonably�vithheld, or unless ex�enu�a�zng circums�ances exist which are bey�nd Borrower's con�rol. 7. Rreservation, N�a�ntenance and Prat�ctian af the Praper�y: lnspect��ns. Borrflwer sha11 n�t des�rvy, danrzag�or�mpa�r�he Proper��, a11ow the Pr�per��to de�eriorate ar comrni�vvaste�n�he Property. �Llhe�her ar no�Borro�ver�s r�sid�ng in the Propert�, Borrower shall mainta�n the Prop�rty�n ord�r ta prevent the Pro�er�y from.deteriorat�ng�r decrea�ing �n va�ue due�o�ts c�nd��on. Uniess i��s d�termined pursuan�to Sectian 5�hat repair or res�orat�on is not econornica�ly feas��e, Borrawer shali�romp�ly r�pa�r th�Pr�p�rty �f damaged�o av�id�urther det�r�orat�on or damage. If insuran�e ar c�ndemna�ion prfl�eeds ar�paid in c�nxaect�an v�ith darnage to, or�he taking af, �he Praperty, Borrower sha��be responsihle for repairing or restaring�he Pr�perty�nly if Lender has re�eased praceeds for su�h purposes. Lender rna�r disburse proce�ds N�BRASKA-5ingle Farnily-Fanni�Mael�reddie Mac UNt��HM INSTRUMENT �orr�t 3d2$11Q1 VMP[� VMP6tNE1�'I 302} Wr�lters Ktuwer Financia!Ser�ices P�9��Qf'��