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2� 1 ��445�
<br /> All �nsurance policies requ�red�y Lender and renewa�s of su�h policies sha�� be�u�j�ct t� Lender's r�gh�to
<br /> d�sapprove such poI icies, shal� �n��ude a s�andard mor�gage clause, and s�ai l name Lender as m�r�gage�
<br /> a�a.dlor as an add���onal loss pa�ee. Lend�r shai�ha�e the right�o hold�he pol�cies and r�newa�cert�fica�es. �f
<br /> I.ender requ�res, Borro�er sha11 promp�l�g��e t� L�nder al� re���p�s nf paid premiums and renev�►raI notices,
<br /> If Borravver abtains any forrn of insuranc�coverage, no�other�n�ise requ�red by L.end�r, for damage�o, or
<br /> des�ruction af, �he Prop�r�y, such policy sha�l include a Standard mortgage c�ause and shall name L.�nd�r as
<br /> martga�ee andlflr as an addi�ional loss pay�e.
<br /> In the e�en��f Ioss, Barrovver sha�l g�ve promp�no�ice to the�nsurance carrier and Lend�r. Lender m.ay
<br /> mak�proof�f�oss if not made pramp�Iy by B�rr�wer. Un�ess Lender and Borrow�r otherv�ise agree in
<br /> writ�ng, an��nsuranc�procee�.s, whether or n��the underlying insuran�e was required�y Lender, shall be
<br /> appl�ed to restoration�r repair of�h�Praperty, if the restorati�n or repa�r is ecanomically feasib��and
<br /> Lender's se�urit}�is n���essened. During such repair and restoration period, I.ender shal�ha�ve�he�right tfl
<br /> ho�d such xnsurance pro��eds un�il I.ender has had an oppor�unit��a �nsp�ct such Proper��t�ensure�h�
<br /> v�rork ha�been�omp�e�ed�ti I,�nder's �a�isfac�ion, pr�v�ded that such inspect�on sha��be undertaken
<br /> pramptl�r. ilender may d�sburse proceeds #�r the repa�rs and res�aratian in a s�ngl�pa�men�or in a s�ries of
<br /> pragress pa�m�.en�s as the w�rk�s�omplet�d. Unless an agr�ement�s made in writing or Appl�cable Lavv
<br /> requires int�rest�o be pa�d on such�nsurance pr�ceeds, L.ender shall na�be required�a pa�Borrower any
<br /> in�erest ar�arnings on such proceeds. Fees for public ad�us�ers, or o�h�r third parties, retained b� B�rrower
<br /> shal� no�be paid ou�of�he�nsuran.ce proceeds and shall b��he sole ob�iga�ion of Borrower. If�h�restarati�n
<br /> or r�pa�r�s not econnm�cal�y feas�bie or I�end�r's secur�ty v�ould�e�ess�ned, the�nsurance procee�s shal�be
<br /> applied to�he sums secured by th�s Securi�y �ns�rument, whe�her or no��hen due, �vi�h th�exGess, �f an�,
<br /> pa�d to Borrower. Such �nsurance proceeds shail b�app�ied in the order provided f�r in Sec�ion�.
<br /> If Borr��ver abandons�he Property, I.�nder�na�r f��e, nega��at�and set��e any a�a�lable insurance ciaim and
<br /> re�ated ma��ers. If Borrower does no�respond within 3�days to a n�t�ce from Lender�ha��he insurance
<br /> carr�er has affered to se�t�e a c�aim, �hen Lend�r may nega�iate and se�tle the c�a�m�.. The 34��.ay p�r�od w�il
<br /> begin when the no��ce is gxven. In ei�her ev�nt, or if L.�nder acquires the Pr�pert�under Sec�ion 2�or
<br /> otherv�ise, Borrower h�re�y ass�gns to Lender�a} Borr�vver's rights �a an� �nsurance pro�eeds in an amount
<br /> no��o exc�ed�he amoun�s unpaid under�he N�te�r�h�s S�curi�y �nstrument, and �b} any o�her�f
<br /> Borr�vver's ri�hts �other than the r�ght to any r�fund of unearned premiums paid b�r Borrov�er}under a��
<br /> insu�ranc�pa��c�es couer�ng the Prap�rty, insofar as such right� are app��cabl�to th�coverage of the
<br /> Prflper�y. L.ender may use�he�nsurance proceeds e�ther�� repa�r nr r�s�ore the Proper�y or to pay amounts
<br /> unpa�d under�he Note ar th�s Secur�ty �nstrument, v�he�her�r n���h�n�.ue.
<br /> 6. Decupancy. Borro�v�r shal��ccupy, establ�sh, and use the Pra�er�y as Borrow�r's principal residenc�
<br /> w��hin�D da}�s after�he execu�ion of this Security �nstrument and sha�� �ont�nue��o�cupy the Property as
<br /> Borrower's pr�nc�pa� res�denc�for a�I�ast one year af�er the da�e of occupancy, un��ss Lender�therv�ise
<br /> agr�es in wr���ng, wh�ch cansent sha�l no�b�unr�as�nabiy withheld, or un�ess extenua��ng cir�umstances
<br /> ex�s�which ar�beyond Borro�ver's cantr�i,
<br /> 7. Pres�rvation, N[a�ntenance and Pr�tect��n af the Prope�ty; Inspectians. Borrnwer sha�i not destroy,
<br /> damage or impair�he Property, allav�r �he Prflperty to deteriorate�r commit wast�on�he Proper�y. Whe�her
<br /> or not Borravver is residing in t�e Prop�rty, B�rravver sha��maintain the Proper�y �n arder�a preve�t�he
<br /> Proper�y fram d�t�riora�ing or decreasing in�alue due to �ts condition. Unless i�is de�ernuned pursuan��o
<br /> S�cti�n� �ha�repair or res�oration is not ec�nomica���r fea�ible, S�rrawer sha�l promptl�repair�he Proper�y
<br /> �f dama�ed to a�o�d fur�her de�erioration or damag�. �f insurance ar�ondemna��on proceeds ar�paid in
<br /> conn�ction v��th dama�e��, or the taking of, the Proper�y, Borrflwer shall�e r�spon�zble f�r repairin�or
<br /> res�oring the Proper�y on�y if Lender has re�ea�ed proceeds far such purposes. Lender�may d�s�urse praceeds
<br /> N�BRASKA-Singie Family-Fannie Mael�re�di�Mac UNIF4RM INSTRUM�NT Form 30�8 11D1
<br /> VMP(] VMPfi(NE;{i 302f
<br /> Wotter�K!�€wer�inancial Ser�ices Pag�7 of'E 7
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