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2� 15�77�2 <br /> AI� �nsurance policies requ�red by L.ender and r�nevva�s of such polici�s shall b�subject t� Lender's righ�to <br /> disappro�e such policies, shal� include a s�andar��nortgage clause, and shail name Lender as mor�gagee <br /> andlor as an add��ional Ioss payee. Lender shali have��.e right�o hoid th�pol�cies and renewa� certificates, If <br /> Lender requires, Borrower sha��promptl�gi���o Lend�r all receipts of paid pr�miums and renev�al n�t�ces. <br /> If Borrower ohtains an� form of insurance co�erage, not oth�rwise requir�d�y Lender, for dama�e ta, or <br /> destruct�an�f, the Proper�y, such policy shall �nclude a standar�i�nortgage c�ause and sha�� name L�nder as <br /> n��r��a�ee andlor as an add�tiona� �ass�ayee. <br /> In the e�en�of loss, Borrower sha�� g��ve promp�not�ce to the�nsurance carr�er ar�d Lender, Lend�r ma� <br /> make proof�f�oss if no�made pr�mp�iy by Borrower. Unless Lender and Bflrrov�rer o�herw�se a�ree�n <br /> writ�ng, any �n�urance proceeds, ►�vhether or nat�he underl�ing insurance v�as requ�red by Lender, shal� be <br /> app�ied to res�oration or repa�r of the Propert�, if�he restoratiar�or r�pair�s��on�micaliy feasibie a�d <br /> Lender's securit��s no�lessened. During such repair and res�orat�on period, Lender sha11 ha�e the right to <br /> hold such insurance proceeds un�il Lender has had an oppor�unity to inspect such Proper�y�o ensure the <br /> work has�een completed�� Lender's sa�isfact�on, pro�vided tha�such inspection shall be under�aken <br /> promp��y. L.�nder�may disburse proceeds for the r�pairs and restora��on in a single paymen�or in a s�ries of <br /> progress payments as the work is comp�et�d. Unless an agreem�en� xs made�n v�riting or Applica�Ie Law <br /> requires �nterest�o�e pa�d�n such insurar�ce pro��eds, Lend�r sha�� nat��required�o pay Borrawer any <br /> interest or earnings on such procee�is. Fee�for pub�i�adjusters, ar other third�ar�ies, retained b�r Borrnw�r <br /> shall no�b�paid out af the insurance pr�ceeds and shall b��he so�e flb��gation of B�rr�vver. If the r�s�orati�n <br /> or repair�s no�economi�all�feasible or Lend�r's securi�y wouid be�es�ened, �he insurance proceeds shall be <br /> applied�o fhe sums secured�y this SeGurity Instrument, v�he�her or no�then due, w�th the excess, �f any, <br /> paid to Barrower. Such �nsurance pr�ceeds sha11 b�appl�ed �n�he order pro�ided for in�e�tion 2. <br /> �f Borrov��r abandans the Proper�y, Lender may �I�, negatia�e and set�le an�availa�Ie�nsurance�laim and <br /> reia��d matters. If Borrower does not respond w�thin 34 days to a natice fr�rn�Lender tha�the insurance <br /> carr�er�as offered�o se�tle a c�aim, then Lend�r may negotia�e and se�tle the c�a�m. The 3D-day period v��ll <br /> beg�n when�he n����e is g�v�n. �n��ther e�ent, or if Lender acquires the Proper�y under Sec�ion 2Z or <br /> atherv�ise, Borrower here�y assigns t� Lend�r�a} Barrawer's rights to an� insurance proceeds �n an amount <br /> no�tfl exceed�he amounts unpaid under the No�e�r th�s S�curi�y Instrument, and�b} an�other of <br /> Barr�wer's rzghts �ather thari the righ��o any refund of unearned prem�ums paid b�r Borrawer}under al� <br /> �nsurance pol�cies ca�ering�he Property, �ns�far as such r�gh�s are appli�ab�e to�he cov�rage af the <br /> Proper��. L.�nd�r may us�the insurance praceeds ei�her to repair ar restar�the Proper��or ta pay amaunts <br /> un�aid under the No�e or this Securi�y Ins�rumen�, whether or not then due. <br /> C. Dccupan�y. Barrovver�ha��oceupy, establish, and use the Property as Sorrower's principal resid�nc� <br /> w��hin 6D days after�he execut�on of�hi� Secur�t� �nstrum.ent and shall continut to accupy the Property as <br /> Borrower's princ�pal resid�nce for at Ieas�one year after th�date of occupancy, uniess Lender o�herw�se <br /> agrees in wr�t�ng, v�rhich consen�sha��not��unr�asonably withheld, or un�ess e�tenua�ing c�rcum�s�ances <br /> ex�st whi�h are be�rond Borrow�r's control. <br /> 7. Preservatior�, �a�ntenance and Protectivn �f the Prflperty; �nspectivns. Borrower sha�I not destrfly, <br /> damage ar�mpa�r the Prap�r�y, a11ow �he Proper�y to d�teriarat�or commi�v�aste on the Proper�y. Whe�her <br /> or not B�rrower�s res�ding in the Proper�y, B�rrovver shal� ma�n�ain the Proper�y in order to pre�ent th� <br /> Proper�y from de�eriora�ing or decreas�n� �n va�ue due�� �ts cond��i�n, tJnless it is determined pursuant to <br /> Se���or�5 that repair ar restora�ion��nat economically feasibles B�rrower shal�prnmptly repair�he Prnper�y <br /> if damaged to a�aid further deteriora�ian or damag�. �f insuran�e ar condemna��on proceeds are pa�d in <br /> connection v�rith�amage t�, or the tak�ng af, the Proper��, Borrawer shal�b�responsible for repa�r�ng or <br /> restor�ng the Proper�y only if Lender has re�eased proceed� for su�h purp�ses. Lender ma�disburse�roceeds <br /> NEBRASKA-5ingle�amily-�annie Mael�reddie Mac UNi��RM iNSTRUM�NT �arm 3n2$11�1 <br /> VMP Q VMP6fNE){'�3��f <br /> Wv�ters#Ciuwer�inancial 5er�ices Page 7 vf'i 7 <br />