|
2� 1 ��4538
<br /> A�� insurance policies required b� L,�nd�r and renewa�s�f such pa��c�es shai�be sub�ec��o Lender's r�ght�a
<br /> disappro�v�such poiic�es, shall include a s�andard ma��age clause, and shali name Lender as mor�gag�e
<br /> andlor as an additianal loss pa�ee. Lend�r sha1�have�he righ�t�hald�he pal�cies and rene�al cer���cates. If
<br /> Lender�equires, Borrower shall pr�mptly gi�re ta Lender all receipts of pa�d premiums and renewal notices.
<br /> �f Barrow�r obtains any form of insuranc�c��rerage, no�o�herwise r�quired by Lender, for damage�o, or
<br /> des�ruct��n�f, the Proper�y, such pal�cy sha�1 inciude a standard mor�gag��laus�and shall nam�Lender as
<br /> mflrtgagee andlar as ar�addi�ranal loss pa�ee.
<br /> In�he e�ent of�oss, Borrower shall g�ve prampt not��e to the insurance carrier and Lender. Lender ma�
<br /> m�ake praof of��ss if not made promp��y by Barrower. Unless Lender and��rro�rer otherv�rise agre��n
<br /> v�riting, any insurance proc�eds, whe�her�r not�he underl�ing insurance was required by Lender, shall b�
<br /> applied�o restoration or repair of the Pr�perty, �f�he res�oration or repair is economicall�r feasible a�.d
<br /> Lender's secur�ty i�no�lessened. Dur�ng such repa�r and restora��an period, Lender sha�i have the right to
<br /> hoid su�h insurar�ce pr�ce�ds until I.�ender has had an appor�un�t��o �nsp�c�such Proper�y to ensure the
<br /> v�ork has been comp�eted to Lender's satisfact��n, pro�ided that such inspe��ion sha11 be under�aken
<br /> �r�m�atl��. L-�nd�r m��������r�P Prn�.Pe�s fnr r��P r���,ir� �nr� r��t�r�finn in � �in��P��ym�nt�r in � �PriP�nf
<br /> progress payments as �he work is c�rnpieted. Unless an agreement is made in wri��ng nr Appiica�le Law
<br /> r�quires interest to b�pa�d�n such �nsurance praceeds, Lender shaii not be requir�d to pay Borro�r�r any
<br /> interes�or earnings on such proceeds. Fees f�r publ�c adjusters, or other�h�rd par�ies, re�ained b� Barrower
<br /> shail not be paid out�f�he�nsuranc�proeeeds and sha�l b��he soie obiiga�ion of Borrov�rer. If the r�s��ration
<br /> ar repair is no�econon�icall� feasible ar Lender's secur�ty would b�lessened, �he insurance proc�ed� sha��be
<br /> app�ied to the sums secured by this Security �ns�rument, v�►�hether ar nflt then du�, with th�ex�ess, if any,
<br /> paid to Borrower, Such ��suranCe pr�ceeds sha�l b�app�ied �n the�rder pro�ided for in Section�.
<br /> If�3orrow�r aband�ns �he Propert�, Lender may f�le, nego��a�e and s�t�le an� a�ailab���nsuranc���aim and
<br /> re�ated m.at�ers. �f Borrower does nat respond v�ith�n 3�da�s�o a notice from L�nder that th��nsuran�e
<br /> carrier has aff`ered�� set��e a cla�m, then Lender znay ne��tiate and settle�he claim. The 3��da�per�od��vill
<br /> beg�n vvh�n the no�ice is gi�ren, In either ev�nt, or if Lender acquires the Proper��under Section 22�r
<br /> o�herwis�, Borrow�r hereby ass�gns �o Lend�r�a} Borrower's righ�s�o any �nsurance p�roce�ds in an amount
<br /> not�o exceed the arnaun�s unpa�d under the Na�e or this S�curit� Insti-umen�, and �b� any o�her of
<br /> Borrower's rights ���her�han�he right t� any refund of un�arned premiums paid by Barrawer} under a11
<br /> �nsurance policies co�ering the Prop�rty, insofar as such r�ghts are applicable to th�coverage af th�
<br /> Prop�rty. Lender may use�he insuranc�pro�eeds eit�er to repair ar restare�he Pr�per�y or ta pa�amounts
<br /> unpaid under�he Note or th�s S��urit� �nstrument, whe�her or not�hen due.
<br /> �. �ccupancy. Borrovver shal� occupy, establish, and use the Property as Borrov�rer's principal res�dence
<br /> within 5�days after�he�xecution of�his S�curi�y �ns�rument and sha�l continu�t� �ccupy the Pr�per�� as
<br /> Borrov�rer's prin�ipal residence for a��east nne year aft�r the da�e of oc�upancy, un�ess Lender otherwise
<br /> agrees �n wr���n�, which consen� shall not be unreas�na�ly withheld, ar un�ess ex�enuating cxrcums�anc�s
<br /> �xist whi�h are beyond Barrov5rer's�antro�.
<br /> 7. Prese�vation, N[aintenance and Protect�on vf the Property; �nspections. Borrawer shail not destroy,
<br /> damage or�mpair the Property, al�o�� the Proper�y�a d�teriorat�or comnu�was�e on the Praperty. �Vhethe�r
<br /> ar no�Borrower�s residing in the Prop�r�y, Borrawer shali main�ain�h� Pr�perty�n�rder fio prevent the
<br /> Property from d�t�riorating or de�r�asin� in valu�due to its condi�ion. Unless it is determined pursuant to
<br /> 5ec��on 5 �hat repair or res�oratinn is no�econ�mically feasi��e, Borrovuer shall promptly repa�r the Pr�per�y
<br /> if damaged ta a�oid fur�her de�erioration�r darnage. If insurance o�condemnation proc�eds are pa�d in
<br /> c�nnec��an v�ri�h damage�o, or�h��aking of, the Proper�y, Barr�v�er shali be responsibie for repairing�r
<br /> restor�ng the Pr�per�y oniy if Lend�r ha� re�eased proce�ds for such�urposes. Lender may disburse proceeds
<br /> N�BRASKA-Single Far�nily-�anni�Ma�IFreddie Mac UNIFQRM�NSTRUMENT �arrr+34�8 I1�1
<br /> VMP� VMPfi�N��{�3Q2y
<br /> WQlters Kluwer Fin�ncial Ser�ices Page 7 of�7
<br />
|