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2� 15�81 � 1
<br /> AIl �nsurance po�i�ies required by L�ender and renev�ra��of such policies sha�i be sub,�e�t�o L..end�r's right�o
<br /> disappra�e such po�icies, shall include a s�andard mor��a�e c�ause, and shal�nam.e Lend�r as mor�gagee
<br /> andlor as an addi�ional ��ss payee, L�nder shall ha�e the r�gh��o hald the po��c�es and renev�a� cer�if��ates. �f
<br /> Lender r�quires, Borro�er shall prompt�y gi�e to L.ender al� rece�pts of paid prem�.ums and renewal notices.
<br /> �f Borrovver o��a�ns any f�rm�f�nsuranc�co�erage, no�otherwise required by Lender, for damage to, or
<br /> des�ruction of, the Prope�-t�, such policy �hal� inc�ude a standard mortgage clause and shall name Lender as
<br /> �m.ortga�ee andlor as an add�tiana� loss pa�ee.
<br /> In�he�ven�of Ioss, Borrov�er sha�l g��e prorx�p�no�ice�o the�nsurance carrier and L�nder, Ifender may
<br /> mal�e proof of Ioss if no�made prompt�y by Borrau��r. Un��ss Lender and Borrower�therw�se agree in
<br /> writin�, any insurance proce�ds, whe��er or no��he under�y�ng �nsurance vvas requ�red by L,ender, sha��be
<br /> applied to res�ora�ion or repair of�he Proper�y, �f the res�ora�ion or repair�s e�onamica�Iy feasibl�and
<br /> Lender's security �s not lessened. During such repair and res�arat�on period, Lender sha�l have�he r�gh��o
<br /> hold such insurance proceeds until Lender has had an oppar�unity to �nspee�such Property t�ensure tihe
<br /> vvork has been�omple�ed to Lender's satisfaction, pr��ided that such �nspec��on sha11 be under�aken
<br /> pr�mptly. Lender ma�disburse proceeds for the repairs and res�orati�n in a s�ng��payment or in a ser�es of
<br /> progress pa�ments as�he v�ork is completed. Unless an agreement is made in v�ri�ing or Appl�ca��e Law
<br /> requires interest t�be pa�d on such �nsurance pr�ceeds, Lender sha��n�t b�required tn pay Borrower any
<br /> interest ar earnings nn such proceeds. Fees for public adjus�ers, flr Qther�hird par��es, reta�ned b�Borrov�er
<br /> shall not be paid ou�of the insurance pr�ceeds and sha�� be the s�le obl�ga��on af Borrow�r. �f th�res�ora�ion
<br /> or repair is not�Gonomi�all� feasib��or Lender's security w�uld be lessened, �he�nsurance praceeds shal� be
<br /> appl ied ta�he sums se�ured b� �h�s Secur��y Instrumient, �hether or nn�then due, v�ith the e�cess, if any,
<br /> paid to Borrower, Such insurance praceeds shall be applied in�he order pro�ided for in Sectian 2.
<br /> �f Barrower abandons��.e Property, Lender may �le, r�egot�a�e and set�le an� a�ailable insuran�e�laim and
<br /> rela�ed ma�ters. �f B�rrower does not resp�nd w�th�n 3�da�s t� a natice from Lender�hat the insurance
<br /> carr�er has offered t� se�tie a claim, th�n L�nder ma�negat�ate and sett���he claim. The 3�wday per�od wi��
<br /> beg�n when�h�no�ice �s gi�en. �n either event, or if Lender acquires the Property under Section 2�or
<br /> �therw�s�, ��rrower here�y assigns�o �ender�a� Borrov�rer's righ�s�� an� insurance proceeds in ar�.amount
<br /> no�to e�.ceed the axnounts unpaid under�he Note or th�s Secur��y �nstrumen�, and�b} any oth�r of
<br /> B�rrnwer's righ�s �ather�han the right to any refund�f unearned pr�m�ums paid��B�rrower}under all
<br /> insurance polic�es c�vering�he Property, insofar as such righ�s are applicable tio�he co�erage of�he
<br /> Prop�r�y. Lender n-�ay use�he insurance proc��ds��ther to repa�r or res�ore�he Prope�ty�r to pay amounts
<br /> unpa�d under the Note�r this Security �nstrumen�, whe�her or not then due.
<br /> �. D�cupancy. Barrower sha�i occupy, establish, and use the Proper�y as Borrov�rer's principal res�d�nce
<br /> within 64 days after the execution of�his Security �ns�rumen� and shal� con��nue�o accup��he Property as
<br /> Borrower's principal resid�nce for a��east one�ear af�er the date of occupancy, un�ess Lender�therwise
<br /> agrees in writing, wh�ch consent sha�I not be unreasonab�y v�►��thheld, �r unl�ss extenua�ing�ircumstan�es
<br /> exist v�rhich are be�and B�rr�wer's con�rai.
<br /> 7. Pr�serrration, Maintenance and Protectian of the Property; Inspections. Borrower sha�� no�destray, .
<br /> damage or impair the Property, ailow the Proper�y �o de�eriora�e or cam.m�t waste on the Proper�y. Whether
<br /> or not Barrawer is res�d�ng in th� Proper�y, Borrow�r sha�� main�ain�he Proper��in arder to pr�vent the
<br /> Prop�r�y frflm d���r�oratin�or d�creasing in va�u�due to i�s condi�ion. Unless i� is d�termined pursuant�a
<br /> Sectinn S that repair or res�oration is not economica��y feasib��, Borr�wer shal�prompt��repair�he Proper��
<br /> if damaged ta avoid further deteriara�ion ar damage. �f insurance or candemnatian proceeds are pa�d in
<br /> connecti�n wi�h damage to, or the�aking of, the Property, B�rrower shall be r�sponsible for repairing or
<br /> rest�rin�the Property on�y �f Lender has released proc�eds for such purposes. Lender may disburse pro�eeds
<br /> NEgRASKA-Sin�ie�amily-Fannie Mae1F�-eddie Mac IJNIFQRM INSTRUMENT �vrrr�3D�8 1 J�1
<br /> VMP R, VMP6[N�y Z7 3�2J
<br /> Wali�rs Kluwer Financial S�r�ic�s Page 7 of i 7
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