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2� 15�7799
<br /> Aii �nsurance polic�es r�quired b� Lender and ren�wa�s of such pol�cies sha�� be subjec�to Lender's righ�to
<br /> d�sappro�e such po��cies, sha�� �nclude a s�andard mor�gage clause, and sha�� name Lender as mort�agee
<br /> andlor as an additiona� �oss payee. Lender shal� ha���he righ��o hn�d�he pa��c�es and renewal c�r�ifica�es. �f
<br /> Lender requir�s, Borrower sha��prom�p��y g��e�o Lender all re�eip�s �f pa�d pr�miums and ren�wal nti�xces.
<br /> �f Borrov�er ob�ains any form of insurance co�erage, not otherwise requi�-ed�� Lender, for damage to, �r
<br /> destruction of, the Proper��, such policy shall inc�ude a standard martgage clause and shall name Lender as
<br /> mortgag�e andlor as an additiona� Iass payee.
<br /> �n the e�ent of Ioss, Borrower shai� g�ve promp�notice to�h��nsuranc�carrzer and Lender. Lender may
<br /> rr�al�e proof of loss if no�made prompt�y hy B�rrov�rer. [Jnless Lender a.�d Barr�wer atherwise agree in
<br /> v�ri�ing, any in�urance proc�eds, wh��her or n�t the underl�ing insurance was required by I�nder, shal� b�
<br /> applied to restoration or repa�r af�he Pr�per�y, �f�he res�orat�an�r repa�r�s ecanomically feasible and
<br /> Lender's security �s not l�ssened. During such repair and rest�ra�ion period, Lender shai�have the right to
<br /> hold such insura�ce praceeds un�i� L�ender has had an app�r�unity�o inspect such Proper���o�nsure the
<br /> work has���n c�mp�e�ed to Lend�r's �a�isfaction, pro�ided�ha�such inspec�ion shal�be under�aken
<br /> prom,ptl�. L�nder nzay disburse proceeds for�he r�pairs and restorat�on �n a single paymen��r in a series of
<br /> progress paymen�s as�he work�s conr�pleted. Unless an agre�ment is n�.ade in wri�ing or App�i�ab�e Law
<br /> requires interes��o be paid on such insurance proceeds, Lender shal� n��b��requ�red�o pay Barr�wer any
<br /> �n�erest�r earnin�s on such praceeds. Fees for public adjus�ers, or o�her third par�ies, r�tained by Barrower
<br /> shal�nat be paid ou�of�he insurance proce�ds and shall be�he s�Ie ob�igatian�f Borrower. �f the res�oration
<br /> or repair is no�ec�nomicaliy feasib�e nr Lender's security v�ould�e lessened, the �nsurance praceeds shal�be
<br /> applied�o �he sums se�ured by�his Security �nstrument, whe�her or not then due, with the excess, if any,
<br /> paid to Borrov�rer. Such insurance pro�e�ds shai�be app�ied in�he nrder provi�ed far�n�ection�,
<br /> �f Barrow�r aba�adons fhe Froperty, Lender may f�1e, r�egot�ate and sett�e any a�ailab�e�nsurance c�aim and
<br /> related ma��ers. If Borrower does not respond wi�hin 3�days to a no��ce from Lender that�he insurance
<br /> carrier has offered to settl�a�laim, �hen Lender may negotia�e an� settle the claim. The 30-day periad wil�
<br /> begin when the not�ce�s gi�ven, �n either even�, or if Lender acquir�s the Prnper�y und�r Section 2�Z or
<br /> �therv�rise, B�rrovver herehy ass�gns �o Lender�a} B�rrow�r's righ�s to any insurance proceeds �n an amnun�
<br /> no�to exceed�he amounts unpa�d under�he N�te or this Securzt�r �nstru�nen�, and ��} any o�her of
<br /> Borrower's r�ghts �other�han the right�o any refund of unearned premiums paid�y Borrower} under all
<br /> insurance policies covering the Prop�rty, �nsofar as suc�r�ghts ar�applicabi�to the coverage of the
<br /> Proper�y. Lender may use the insurance pro�eeds either�o repa�r or rest�re the Proper�y or to pa� amounts
<br /> unpaid under th�Note or t�is Secur�ty �nstrument, v�he�her or not�hen due.
<br /> �. ��cupan�y. Borrower sha�l o�cupy, es�a�l�sh, and use�he Property as Borrawer's principal residence
<br /> with�n 6D days after the execution�f this Security �nstrum.en�and shal�cnntinue to o�cup� the Proper�}� a�
<br /> Barrawer's prin��pai residence for at ��ast one year after�h�date of occupan.cy, un�ess Lender otherw�se
<br /> agre�s �n v�riting, which consent sha�� no�be unreasonab�y w�thheld, or unless ex�enua�ing c�rcumstances
<br /> exist wh�ch are�e��nd Borrower's�ontrol.
<br /> 7. Preservation, Ma�ntenance and Pr�tection �f the Property; Inspectivns. Borrow�r sha�l nar d�stroy,
<br /> damage�r im�air the Propert�, a�low�he Prnper�y to deteriorate or�ommi�waste on�he Proper�y. ,'VV'he�her
<br /> �r not Borrav�er is residing in�he Prope�rty, Borr�wer sha11 maintain the Pr�per�y in arder to prevent the
<br /> Proper�y from deter�arat�n��r decreas�ng in�alue due to �ts condi���n. Un�ess it is determined pursuan�to
<br /> Sect�on 5 that repair or restora��on�s no�econamically feas�bi�, Borrow�r sha��promptly repair the Proper�y
<br /> if damaged�o a�oid furth�r de�erioration ar damage. If insurance or�ondemna��on procee�is are paid in
<br /> connectian v�rith damage to, or�he�aking of, the Property, Borrov�rer shall be resp�nsible for repairing or
<br /> restor�n��he Pr�perty only if Lender has released proceeds for such purp�ses. Lender ma�disburse proceeds
<br /> NEBRASKA-Single�amily-Far�nie MaeJFr�ddi�MaG UN1�4RM[NSTRIJMENT Farm 3�2$7141
<br /> VMP(] VMP6�NEf[i 342)
<br /> Wvtters Kluwer Financial Ser�ices Page 7 vf 17
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