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2� 1 ����37
<br /> AI1 insurance po�icies required by Lender and renewais of sueh po�ic�es sha11 be subject to Lender's r�ght to
<br /> �isappro�e such policies, sh�.l include a standard martgage c�aus�, and sha�.�name Lender as m�rtgagee
<br /> andlor as an additionai Ioss payee. Lender sha1l have the r�ght to hold the p���cies an�.r�newal certxf�cates, If
<br /> Lender requires, Borra�er shall promptl�r gi�e�o Lender a�� receipts of pai.d premiums and renewal natices.
<br /> If Borrower abtains any form of insurance co�erage, no�o�herwise requ�red by Lender, for damage to, ar
<br /> destruct�on of, the Praperty, such po�xcy sha1�include a standard mortgage ciause and shall name Lend�r as
<br /> � mortgagee andlar as an addixionalloss payee.
<br /> In the e�ent of 1oss, �rrower sha11 gi�e prompt nati�e�o the insurance carr�er and Lender. Lender may
<br /> make proaf of loss if not made promp�I}�by Borrov�er. Unless L�nder and Borrower otherwise agree in
<br /> writing, an�insurance proceeds, wh��her nr not the underiy�ng insurance was required by Lender, shal.i be
<br /> app�ied to restaration or repair af the Praper�y, if the restaration or repa�r is economieally feasible and
<br /> Lender's se,�urity is no�lessened. I]urxng such repair and rest�ration period, Lender sha.11 ha�e the righx ta
<br /> hald such�nsuranc�proce�s until Lender has had an opportuni.t�to inspect such Proper�to ensure the
<br /> w�rk has b�en comp�eted�o L�end�r's satisfaction, provided that such inspeG�ion shail be undertaken
<br /> prompt�y. Lender may disbur�e proce�s for the repairs and re��oration in a single payment ar in a ser�es af
<br /> prvgres�payments as the work is compieted. Unless an agreemen�is made in wr�ting or Applicable Law
<br /> requires in�erest tv be paid on such xnsurance prace�ds, Lender shail not be required�o pay Borrower any
<br /> �nterest or�arnings on such proceeds. Fees for public a.djusters, or other�hird parties, re�ained by Borrovver
<br /> shal� not be paid out of the rnsurance proceeds and sha11 be the sole abligatxon af Borro�ver. �f the restora.tion
<br /> �r repair is not econnmical,ly feasible or Lender's secur�ty�rauld be iessened, th�insurance proc�ds sha1�Ue
<br /> applied to the sums secured by�his Secur�ty Zns�rumenC, �rhether or not then due, vvith the e�c�ss, if any,
<br /> paid to B�rravWer. Such insurance proceeds sha11 be applied.in the order pro�ided for in 5e.�tion 2.
<br /> If Bvrrower abandons the Property, Lerider may f�Xe, negotia�e and s�t��e any avaxiab�e insurance c�a�m and
<br /> rela�ed ma��rs. If Borrawer does not respond�v�rithin 30 days to a natice from Lender tha�the insurance
<br /> carrier has offer�d to set�ie a claim, then Lender may negotiate and settie the�Iaim. The 3�--day period wxll
<br /> b�gin when�he notice is gr�en. In either e�ent, or if Lender arquires the Property under Section 22 nr
<br /> otherv�rise, Borro�ver hereby a.ssigns to Lender(a}Borrower's r�ghts�o an�insuranc.�proceeds in an amount
<br /> not to exce�d.�he amounts unpaid under the Note�r�his Security Yn�trument, and�b}any other of
<br /> Borrower's rights�other than the right�o ar�y refund of unearn�premiums paid by Borrower}under a�1
<br /> �nsurance policies covering the Proper�y, insofar as such r�ghts are applicab�e to the�a�erage of�he
<br /> Propert�r. Lender may use the insurance proceeds ei�her�o repair or restore the Proper��or ta pay amounts
<br /> unpa�d under the Note or this Secur�� Instrumen�, vvhether�r not then due.
<br /> �. �ccupancy. Borro�r�r shail occup�, establxsh, and use�he Prop�r�y as Borrawer's principal residence
<br /> �vithin 6U days after the execution�f this S�curity Instrument and shali con��nue to occupy the Praperty as
<br /> Borrower's principal residence fflr at Ieast one y�ar after the date of occupancy, unless Lender o�herwxse
<br /> agrees in vvri�ing, which c,ansent sha1l�aot be unreasonabxy withheld, or unl.�ss extenua.ting c�rcumstances
<br /> ex�st which a.re beyond Borrov�rer's contro�.
<br /> 7. Preser�etEnn. M�intenance and Protection af the Property; �nspections. Borraw�r shali no�destroy,
<br /> dama.ge or impair the Prop�rty, a11ow the Property ta de�eriorate or commit was�e on the Proper�y. V�hether
<br /> nr no�Borr��rer is residing in the Prop�rty, Bvrrower sha.I1 ma.intain the Property�n order�v prevent the
<br /> Property from detieriora�ing or decreasing xn�a1ue due to �ts condition. Un��ss it is de�ermined pur�uan�to
<br /> Sec�ion 5�hat repair flr r�s�oration is not economica�ly feas�bXe, Barrower shall pramp�ly repair�he Prap�rt�
<br /> if dama.ged�o a�oid further deteriora�ion or damage. If insurance or condemna�ion proceeds are paid in
<br /> connect�on with damage to, or�ie Caking of, the Pro�erty, B�rrawer sha1�be r�sponsibie for repairing nr
<br /> restoring the Praperty anly if Lender has released proceeds for such purposes. Lender may disburse proceeds
<br /> NEBRASKA-Sir�gl�Family-�a�ni�MaelFreddie Mac UN�FQRM[NSTRUMENT Form 3028'lID1
<br /> V�P� VMPB(N�y t13021.�0
<br /> Vlraf�ers Kluwer Financ�al 5errirces pa9��af��
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