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201602900
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Last modified
7/24/2017 1:44:42 PM
Creation date
5/11/2016 9:19:04 AM
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DEEDS
Inst Number
201602900
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2� 1 ��29�� <br /> A�� insuranc�policies required�y I..�nder and renewal�of such po�zcies sha��b�sub�ec��o Lender's righ�to <br /> d�sappr�ve such polic�es, shal� include a standard mortgage c�ause, and�ha��name Le�der as martgagee <br /> andlor a�an additi�na� Ioss pa��e. Lender shall ha�e the righ�to hold�he p��i�ies and renewal cert�ficates. �f <br /> Lend�r requ�res, Borrower sha�l promp��y give to Lender a�l receip�s of pa�d premiums and renev�a�n�ti�e�. <br /> �f Borrower ab�ains any form af�nsurance co�erage, not otherwise required by Lender, for damag��a, or <br /> destru�t�fln�f, the Proper��, such pal�cy sha�1 include a standard mortgage c�aus�and shall name Lender as <br /> mor�gagee andlor as an add��ional Ioss payee. <br /> �n�h�e�ent of loss, B�rrawer sha�l give prompt notice�o the insurance ca�r�er and Lend�r, L�nder ma�r <br /> make pr�af af I�ss �f not made promptly b� Borrflwer. Unless L�nder and Borrower otherw�se agree �n <br /> wr�t�ng, an� insurance proceeds, wh��her�r not�he un�.�r�ying insurance v�as requ�r�d by Lend�r, shall �e <br /> appiied ta rest�ra��on or repair�f�he Property, if�he res��rat�an ar repair is econom�.cal�y f�asible and <br /> L,ender's security�s not�essened. Dur�ng �uch repa�r and restora��an per�nd, Le�der sha��ha�e the r�ght�o <br /> hold such insurance pro�eeds until L�nder has had an oppor�unity to inspe�t su�h Praperty�o ensur�the <br /> wflrk has been comp�eted�o Lender's sat�sfacti�n, pro�ided tha�such inspeG�.�on sha�i be und�r�aken <br /> prompt�y. �.ender may d�sburse praceeds for�he repairs and re��ora��on in a s�ng�e payment�r�n a s�r�es of <br /> progress payments as�he worl�is completed. Un�ess an agreemen�is rnad�in wr��ing or App��cab�e�,av� <br /> r�quire� interes�t�be pa�d on su�h�nsurance proc�eds, Lend�r shaii not be r�qu�r�d�o pay Borrower any <br /> interes�or earn�ngs o�.such proceeds. Fees for pubiic ad�usters, ar o�her third par�ies, re�ained by Borr��nrer <br /> sha�� n��be pa�d out of�he insurar��e pr�ce�ds and shall b�the so�e ob�igat�on of Borrower. If�he res�ora���n <br /> or r�pa�r�s n�t economicaliy feasible ar Lend�r's security would be lessened, �h��nsurance praceeds shall be <br /> app��ed to the sums s�cured hy�his Securi�y �nstrumen�, vvhe�her ar not then du�, w�th�he e�cess, �f any, <br /> paid to B�rrov�rer. Su�h insurance proceeds shal�be appli�d �n the order prav�ded fvr�n S���i�n 2. <br /> Zf Barrflwer aband�ns the Pr�perty, Lender may fil�, n�got�ate and settie any a�ai�ab�e insurance c�a�m and <br /> reiat�d ma��ers. �f Borrower does nfl�re�pond v�ithin 3n days ta a not�ce from Lender�hat�he insurance <br /> carrier has offered ta se��1e a ciaim, �hen L�nder may n�go�iate and settle��.e c�a�m. The 3�Tday p�riod wi�l <br /> beg�n wh�n the notic�is given. In ei�her e�en�, or�f Lender acquires�he Praper�.y under Sect�on 22�r <br /> other�ise, Borr�vver hereby ass�gns�a Lend�r�a} Borro�ver's r��h�s tn any insurance proceeds �n an amoun� <br /> not to exceed the amoun�s unpaid under the No�e or�h�s Secur�ty �nstrument, and�b} any o�h�r of <br /> Borro�r�r's r�gh�s �o�her�han the right ta any refund of unearn�d prem�ums pa�d b�r B�rrow�r}under a�Z <br /> xnsurance p�iicies co�er�ng the Property, �nsafar as such r�ghts are app��cab��to the co��rage�f the <br /> Proper��. Lender ma�r use the�nsurance proceeds ei�her�a repa�r or res�ore the Froperty or to pay amaunts <br /> unpa�d under the Note or�his Security �nstrument, wh�ther or not�hen due. <br /> 6. C]c�upancy. garravcr�r shall ac�upy, estab�ish, and us�the Praper�y as Borrow�r's princ�pal res�dence <br /> �r��hin ��days after�he e�ecu��on af�h�s Secur��y �ns�rumen�and shal� c�n�inue���ccup��he Property as <br /> B�rr�w�r'��ri��.���a� r�si������ fur a�I��s�u������r af��r�I���at����c�G�u�a..���y, u1�1�ss L��1d+er�t���rwis� <br /> agrees in wr�ting, wh�ch consen� shail not be unreasQnably w��hhe�d, or u�a�.�ss extenuating circurns�ances <br /> ex�st which ar��e��nd Borrower'�contra�. <br /> 7. Pres�rvation, MaintenanGe and Prvtectian vf th� Pra�erty; �nspections. Borrower shai�no�des�r�y, <br /> damage or impair�he Proper��, allow the Proper�y�o de�er��ra�e or commi�waste an�he Proper��. �Th��her <br /> or not Borrower�s re�iding in�he Proper�y, Borraw�r shal�ma�n�ain�he Property in order�o pr��ent�he <br /> Property from d��eriarating or decreasing in value due to ��s c�nd��ian. Un�ess �� is det�rmin�d pursuan��o <br /> Sect�on 5 that repair or restaration�s nnt economica��y feasibl�, Borrower sha��prompt�y repa�r the Property <br /> if damaged to a�oid fur�her deteriora��an�r dama�e. �f�nsurance or�ondemna�ion prflceeds are paid in <br /> conne�tion wi�h damage�o, ar the�akzng of, the Proper�ys Borrower sha11 be respons�bi�for repa�ring or <br /> restnring the Prop�r�y on�y if Lender has rel�ased pr�ceeds far such purposes. Lender may disburs�prac�eds <br /> NEBRASKA-Singte Famify-�annie Mael�reddie Mac UNIF�RM INSTRUM�NT Form 3fl28�1�1 <br /> VMP� VMPfi�NE)�130�y <br /> Wolters Ktuwer Financial Ser�ices Page 7 a��7 <br />
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