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2� 15�82�4 A11 insuranc�p��ici�s require�.b� Lender and renewals of such poiicies sha��be subject to Lender's r�ght�o disapprove such po�icies, shali include a s�andard mor�gage clause, and shai�name I.�nder as mor��agee andlor as an addit�onal loss payee. L.ender shai�haWe the right t�hoid the policies and renewal certificate�. �f Lender r�quires, Borr�wer sha�l promptly give�a Lender a�l receipts of pa�d premiums and renewal natices. �f Bnrrower�btains any f�rm of insurance caverage, no� athervw�se required by Lender, for damage�o, or destructian of, the Propert�r, such pol�c}�shail include a standard mor�gag�clause and shall name Lender as mor�gagee andlor as an addr�iona� �oss payee. in�he e�ren�of�ass, Borro�ver shall g��e pramp�no�ice�o the insurance carr�er and Lender. Lender ma}� m.ake pr��f af�oss if not made prompt��by Borrawer. Un�ess Lender and Borrower�therwise agree �n vvri�ing, any insurar�c�pr�ceeds, whe�her or not the underl�ing insuran��was r�quir�d by I.�nder, shal�be app�ied�o res�oratz�n nr repair of�he Proper�y, �f the restorati�n or repa�r is�cnnom�ca�ly f�as�b�e and Lender's s�curity is not�e�sened. Dur�ng such repa�r and res�ora�ian peri�d, Lender shali hav�the righ�to hold such insuranc�proc�ed�until Lender has had an appor�unity�� inspect su�h Proper��ta ensur�the �vork has be�n c�mple�ed to L.ender's sa�isfact�on, pr��ided�hat such�nspection sha��be under�aken pro�np��y. Lender ma�disburse proceeds for the repa�rs and restoration in a single pa��en�ar in a series of prflgr�ss paymen�s as�he v�ork is comp�eted. Unless an agreement is mad��n writ�ng or Appiicable Law requires in�erest to be paid on such insurance proceeds, Lender sha1�no�be r��u�red�o pay Borrov�er any interes��r earn�ngs on such proceeds. Fees for pubiic ad�usters, or o�her third part�es, retained by Barrower shal�no�be paid ou�of the�nsurance praceeds and shall �e the sole ob��at�on of Borrower. �f the r�s�nra��on or repair is not e�onom�cally feasible or Lender's secur��r vuould be�essened, the insurance proceeds shal� be appiied�o�he sums secured�y�h�s Security Ins�rumen�, v�rhether or n�t then due, wi�h the excess, if any, paxd to Borrower. Such insurance procee�s sha�l be applied �� th�nrder pro�ided for�n Sect�on 2. �f Borrov��r abandons the Property, Lender ma� ��e, negotiate and s�ttle any a�ailab�e insurance��a�m and reia�ed matters. If Borrow�r d�es not respond v�i�hin 3�days�a a not��e from Lender tha��he insurance carr�er has�ffered�� settle a c�aim, then Lender ma� negot�ate and settie the c�axm.. The 3D-da}�period vvi�l b�g�n when the no�ice is given. �n either event, or if L�nder acqu�r�s the Property under Sec�xan�2 or o�h�rwise, Borrovver her�by assigns�o Lender�a} Borrov�►�er's r�gh�s�o an� insurance proce�ds �n an amaunt not to exceed the am�un�s unpaid under�he N��e or�his Security Ins�rumen�, and�b} any other�f Borrov�rer's rights �other�han the right to any refund af unearned premium.s paid b�Barrower}under ail insurance po�icies covering the Proper��, insofar as such r�ghts are ap��icab�e t�the�overage of the Property. Len�er ma}�use the insuran��proceeds e��her to repair or restore�he Pr�per�y or ta pay amounts unpaid under th�N�te�r this S�curit� �nstrurn�n�, vvhether ar nat then due. C. �ccupancy. Borrower shai� occup�, estabiish, and us��he Property a� Bor�-awer's principal r�sidence w��hin 6�days aft�r�he execu��on af�h�s Securit� �ns�rument and sha�i con�inue�o�ccupy the Property as Borrower's pr�ncipa� residence for a��east ane year after the date of ocGupanc�, un�ess Lender o�herwise agrees in vvriting, which c�nsen�shal�not be unreasana�iy withheld, or unless extenuating circumstances e��s�vvhich are beyond Borrovver`s control. 7. Preservat�on, Ma�ntenance and Protection of the Property; �nspect�ons. Borrow�r sha�� not des�roy, damage or�mpair th� Proper��, a��w �he Praper�y ta d�teriora�e or comm.��was�e on�he Proper�y. Whe�her ar not Borr�wer is re�id�ng in�he Prflper�y, Barr�v�►ler shal� main�ain�he Proper�y in�rder ta pre�vent the Pr�perty fram d�teriorating or decreas�ng in�alue due�� ts c�ndi�ion. Unless it�s determi.ned pursuant�o Sec�ian 5 that repa�r or res�flration is no�econom�cal�y fea�ible, Borrower shai�promptly repa�r the Praperty �f damaged t� avoid furth�r de�eriora�i�n or damag�. �f insurance ar condemnat�on proceeds ar�paid in conne�t�an wi�h damage ta, or�he taking of, the Propert�, Borrower shall �e respons�b�e for repairing or restaring the Propert��n�y if L.end�r has released proceeds far such purpos�s. Le�zder may disburse proceeds N�gRASKA-Single�amify-Fannie MaelFred�ie Mac 13N1�aRM IN5TRLIMENT ��r�,�o�s��o� VMP Q VMP�tNEy Z�3�Zy Waiters Kluwer�inanciat 5ervices Page 7 of 17