|
2� 1 �� 1542
<br /> A�� �nsurance pa���ies requ�red by Lend�r and r�newa�s of such po��c�es sha�1 be subject ta Lend�r's r�ght ta
<br /> disappr��e such p�l��ies, sha�� �n�lude a standard martgage clause, and sha1�nam�Lender as mor�gagee
<br /> andlor as an addit�onal Iass pa��e. Lender sha�l have�he right�o hoid the p��icies and renewal.cer���cates. �f
<br /> Lender requires, Borrawer sha��pr�mpt�y give to Lender a�l receipts of paxd premiums and ren�wal not�c�s.
<br /> Zf Borrovver ob�ains an� form of�nsuranc�c�verage, no�a�herw�se required b� Lender, for damage�a, �r
<br /> des�ruct�on of, the Prnper�y, such pal�cy shal� �nclude a s�andard mor�gag�c�aus�and sha�� name Lender as
<br /> mor�gagee andlor as an additiona� �ass pay�e.
<br /> In the even�of��ss, Borrawer shail gi�e promp�no��ce�o�he insurance�arrier and Lender. Lender may
<br /> make pro�f af�ass if not made promp��y by Barraw�r. Unless Lender and B�rrov�er otherwise agree in
<br /> wr�t�ng, any �nsurance proceeds, whe�her or n��the underly�ng insuranc�v�as required by Lender, �ha���e
<br /> app��ed�o re��oration or repair�f the Prop�rty, �f�he res�.ora��on or repair xs economica��y feasibl�and
<br /> L�nder's securi�y is no���ssened. Duri�.g such repair ar�d res�ora�ion period, L�nder shall ha�re�he right�o
<br /> hoid such in�uranc�proceeds unti� Lender has had an opp�r�unity to inspec�such Proper�y�o ensure the
<br /> work has been comple�ed�o Lender's sat�sfac�ian, provxded tha�such�nspect�on sha��be undertaken
<br /> pr�mp��y. Lender may dis�urse proceeds for�he repairs and r�s�oration in a s�ngle paymen�or�n a series of
<br /> progr�ss paymen�s as the wor1�is G�mple�ed. tln�ess an agreemen�is made�n writing ar App�icable Law
<br /> re�uires interest��be pa�d on such insurance proce�ds, L�nder sha�� not be required t�pa�r Borraw�r an�r
<br /> xntere5t ar earn�ngs on such proceeds. Fees for publ�c adjusters, or other th�rd par�ies, retain�d�y Borrawer
<br /> sha�l no�be paid aut�f the insurance proceeds and sha11 be�he sole�bligat�on af Borrov�er. If the restaration
<br /> or repair is no�ecanam��al�y f�as�ble�r Lender's secur�ty v��uld be�ess�ned, the insurance pr�ceeds sha11 be
<br /> applied to�he sums secured��th�s Security �ns�rument, whe�her or not t�en due, �v�th�he excess, �f a.ny,
<br /> paxd�o Barrower. Such �nsurance proceeds sha��be app�ied�n the order pr�v�ded for in Section�.
<br /> If Barrovv�r aband�ns�he Pr�per�y, Lender may ���, negot�a�e and se�t�e an� ava��ab�e insurance claim and
<br /> re�ated mat�ers. �f Borrov�er d�es not r�sp�nd withi�3�da���o a notice fram I,��der tha�the insurance
<br /> �a�rrier has affered�� settle a claim, then Lender may nego�xa�e and sett�e the c�ai�n. The 3�-da��er�od v�i�l
<br /> beg�n when�he no�ice�s��ven. In ei�her�vent, or�f Lender acquxres the Praper�y under Se�t�on Z��r
<br /> o�h�rwise, Borrov�er hereby ass��ns�a Lender�a} Borr�wer's righ�s�a any insurance pro�eeds �n an amount
<br /> no�ta exceed the am.ounts unpaid under�he Nate or th�s �ecurity �nstrument, and�b} any oth�r of
<br /> Borrower's righ�s �o�her�ha��he righ��o any refund of unearned premiums paid by Barrawer}under a1�
<br /> insuran��p�licies cavering�he Fr�per�y, insafar as such rights are appi�ca���to�he caverage af the
<br /> Proper��. L,�nder may us�the insurance proce��s ei�her to repair�r r�store�he Pr�per�y ar ta pay amoun�s
<br /> unpaid under�he No��or�his Security �ns�rumen�, whether or not�hen due.
<br /> 6. t)�cupancy. Borr�wer shal�occupy, establish, and use�he Proper�y as Borrower's principai res�denG�
<br /> �v�thin�D days af�er the execution of th�s Securi�y Instrumen�and shall��n��nue�o occupy the Praper�y as
<br /> Borro�ver's princ�pa�res�d�nce for a��eas�one year after�he da�e of occupancy, unl�ss Lender o�h�rwise
<br /> agrees i�wr�ting, wh�ch cansen�shall no�be unreasonably�v��hhei�, or un.�ess e���nuat�ng c�rcurns�ances
<br /> exist whi�h are be�ond Barrov�rer's control.
<br /> 7. Preservatian, Ma�ntenance and Prat��tion af the Pr�perty; tnspect�ans, Borrower shall not des�roy,
<br /> damage�r�mpair�he Proper�y, allow�he Proper�y to de�er�orate or commi.t waste on the Praper�y. V�iether
<br /> or not B�rro�ver is r�s�d�ng �n�he Pr�perty, Borra�rer sha�� ma�nta�n�h�Property �n order���revent�he
<br /> Proper�y fram deteriorat�ng flr decreas�ng in value due ta �ts condit��n. Un�ess i�is determ�ned pursuant to
<br /> Sect�on S that r�pa�r or rest��ati�n�s no�ecanomically f�asible, Borro�v�r sha�1 pramp�l� repair�he Prope��
<br /> if dar�aged to avn�d fur�her de�er��ra��on�r damage. If insurance�r condemna�ian proceeds are paid��
<br /> connectian with damage ta, or the�ak�ng of, �he Property, Borrower shall be r�sponsib�e far repairing or
<br /> rest�ring the Pr�perty only �f Lend�r has released pr�ceeds for such purp�s�s. Lender may disburse proce�ds
<br /> N�BRASKA-Single�amily-�at�nie MaelFreddie Mac UN#�URM tNSTRUM�NT �orrn 3Q28 1101
<br /> VMP[R] VMP6fNE)t'f 3�2f
<br /> WoltErs Ktuwer Financial Ser�ices Page 7 af 17
<br />
|