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2� 1 ��3972
<br /> AlI insurance p�licies required by L.ender and ren�wals�f such policies sha�l be subje�t�� Lender's righ���
<br /> d�sapprove such policies, sha�� include a standard mor�gage clause, and shall name I.�ender as n�.artgagee
<br /> andlor as an addi��onal �oss payee. Lender sha�I ha�e the r�gh�to ha�d�he policies and renewal certificates. �f
<br /> Lender requires, Barrower�hall pramp�iy g�ve�o Len�.er al1 rec�i�ts af paid pr�miums and renewa� not�ces.
<br /> If Borrower obtains any form of insurance coverage, nat o�herwise requ�red b�L�nder, for damage�a y or
<br /> des�ruc�ion of, the Pr�per��, such policy sha�� include a standard m�rtgage clause and shal� name Lender as
<br /> mor�gagee andlor as an additi�na� �ass payee.
<br /> In the e�en�of��ss, Borr�wer shall gi�e prompt notice to the insurance carrier and Lender. L�nder may
<br /> make proof of lass �f not made promptly hy Borr��rer. Unless L.ender and Borrawer a�herwise agree in
<br /> wr��ing, any insurance proceeds, whether or na�the under�ying insurance was requ�red b� Lend�r, sha�l�e
<br /> app�ied�o res�oration ar repair of the Property, �f�he res�oration or r�pair�s economucall� feasible and
<br /> L�ender's se�uri�y �s na��essened. During such repa�r and res�orat�on period, Lender sha�l have the r�gh�to
<br /> hold such in�urance pr�ceeds un�x� Lender has had an oppar�un�ty to inspect such Property �a ensure th�
<br /> work has been campleted�o Lender`s sat�sfa�ti�n, pro�ided that such inspection shall be under�aken
<br /> promptl�. i.,,ender may d�sburse pro�eeds for�he r�pairs and res�ara�ion in a sing�e pa�men�or xn a ser�es of
<br /> progress payments a� �he v�rork�s completed. Unless an agreemen��s mad�in writing or Applicable La�v
<br /> requires interest�a be paid�n such�nsurance proceeds, Lender sha�� �ot be required to pay Bflrrow�r any
<br /> int�rest ar earnings an such pra�eeds. Fees for pub�ic ad�usters, or a�her th�rd parties, re�ained by Borrawer
<br /> sha11 nat be paid au�of the�nsurance proceeds and shai�be the sole abligatzon of Barrow�r. �f�he restoration
<br /> ar repair xs not econamical�y feasib�e or L.ender'� s�curity wou�d�e lessened, �he insurance praceeds shall be
<br /> applied�fl th�sums secur�d�y th�s Security Zns�rument, whether or not then due, w��h the excess, if any,
<br /> paid t� Borrower. Such insurance pra�eeds shall be app��ed in the ord�r provided for in Sect�on 2.
<br /> �f B�rro��r abandans the Proper��r, Lender may fiie, negotia�e and settl�any a�ai�able insurance c�aim and
<br /> related ma�ters. If Barrower daes na�r�spond within 30 days to a notice frarn Lender�hat the insurance
<br /> �arrier has off�red to settie a c�aim, then Lender ma�nego�iate and se�tle the c�aim, The 3�-day period wi11
<br /> begxn wh�n the nfl�ice is g��en. �n either���nt, or if L,ender acquires the Prop�r�y under Sectian 22 or
<br /> o�herwise, Borrow�r hereby ass�gns t� Lender�a} Borrower's righ�s�a any �nsurance pr�ceeds in an axnount
<br /> no�to e�ceed the amaun�s unpaid under the N�te�r�his Security Instrum�n�, and �b} any �ther of
<br /> Barrower's righ�s (o�her than th�right�o an�refund of unearn.ed premiums pa�d�y Barrower�under a��
<br /> insurance p��icies co�er�ng the Proper��r, insnfar as such righ�s are a�plicab�e to th�cov�rage of the
<br /> Proper�y. Lender may use the�nsurance proceeds eit�er to repair or rest�r��he Prvper�� or to pay am�unts
<br /> unpaid under�he No��or�his Securi�y Ins�rument, vvh�ther or not then due.
<br /> �. �c�upan�y. Borrower shali�ccupy, establish, and use the Proper�y as Borrovver's prine�pa� res�d�nce
<br /> w��hin d�days aft�r�he�xecution of th�� Secur��� �ns�rumen�and shall c�ntinu��o occupy the Prop�r��r as
<br /> �orrower's principal r�sidenc�for at�east one y�ar af�er the dat�of���u���.��, ��l�ss Len�er���.�rw�se
<br /> agrees in�vriting, wh�ch consen�shal.l n�t�e unreasonably v���hheld, or un�ess ext�nuating circumstanc�s
<br /> ex�s�v�hich are beyond B�rrower's contro�.
<br /> 7. Preservativn, IUlaintenance and Pr�tectian of the Property: lnspections. B�rrower shall no�destray,
<br /> daYnage or impair the Proper�y, a11�w the Property ta de�er�arate ar�ommit waste on the Property. Whe�her
<br /> or n�t Borr�wer�s residing in�he Proper�y, Borrov�rer sha��ma�nta�n the Property �n arder�o pre�ent the
<br /> Propert� fram d�t�r�arat�ng or decreasing in value due�o ��s c�nd�t��n. LJnless ��is deteY-mined pursuan�t�
<br /> Section 5 �ha�repa�r or res�ora��an is not economica�ly feasib�e, Borrnwer shall promp�ly repair�he Property
<br /> �f damaged t� a�oid further de�eriara�ion or damage. �f�nsurance or condemna��on pro�eeds are paid �n
<br /> conne�tion vvi�h damage ta, �r�he tak�ng of, the Propert�, B�rrower sha�l be respons�b�e f�r repairing ar
<br /> res�orin�the Praper�y anly if L�ender has r�leased pr�c�eds far such purposes. L�nder may disburse proceeds
<br /> N�BRASKA-5ingle�amiiy-�annie Mael�reddie Mac UNI��RM INSTRUMENT Form 3028 1101
<br /> VMP(] VMP6{N�]t13�2}
<br /> Wolters K[uwer Fir�ancial Ser�i�es Page 7�f 17
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