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<br /> of co�erage. Therefore, such coverage shaXl co�er Lender, bu� might ar might not protec� Borrower, Borrower's
<br /> equity in the Praperty, or the contents of�he Propert}�, against any r��k, hazard�r�iabilx�y and might pra��de greater
<br /> or lesser co�erage than was pre�iausly in effect. B�rrower acknovvledges�hat the cost of the insuranc�c��erage s�
<br /> obtained migh�significant�y exceed the c�st af insurance that Borrovver could ha�e obtained. Any amounts disbursed
<br /> by Lender under thxs Section 5 sha11 become addifional deh�of Barrovver secured by�his 5ecurity Instrument. These
<br /> amaun�s shall bear interest at the Note rate from the date❑f disbursemeri�and sha�� be payable, with such interest,
<br /> upon natice from Lender to Borrawer requesting payment.
<br /> Al� insurance policies required by Lender and renewals of suCh policies shali be subject to Lender's right to
<br /> disappro�e such pol�cies, shal� i.nclude a standard mortgage clause, and sha11 narne Lender as mortgagee andlor as
<br /> additivnal loss payee. Lender slna�l ha�e the right to h��d the policies and renewal certif cates. If Lender requires,
<br /> Borrower sha�l pramp��y gi�e to Lender all receipts of paid prerniums and renewal no�ices. �f Borrawer a�tains any
<br /> form of xnsurance co�erage, not otherwise required by Lender, for damage�a, ar destructian of, the Praperty, such
<br /> policy sha1� inc�ude a standard mortgage clause and sha�l name Lender as mvrtgagee andlor as an additiona� �oss
<br /> payee.
<br /> In the event of loss, Borrovver shall gi�e prompt notice t��he insurance carrier and Lender. Lender may make
<br /> proof�f loss if not made promptly �y Bflrrower. lJnless Lender and Borrvwer otherwise agree in writing, any
<br /> insurance praceeds, whether or nat the underlying insurance was required by Lender, sha�l be applied to r�s�oration
<br /> ar repair of the Praperty, �f the restoration ar repair is economica�ly feasible and Lender's security is not�essened.
<br /> During such repair and res�oration period, Lender shall have the r�ght�o hold such insurance proceeds until Lender
<br /> has had an opportuni�y to inspect such Pr�perty to ensure the work has been comp�eted to Lender's satisfac�ion,
<br /> pravided that such inspection shall be undertaken prflmptly. Lender may disburse prviceeds for the repa�rs and
<br /> restoration in a sing�e payment or in a series of progress pa}�ments as the work is completed. Unless an agreement 1s
<br /> made in writing �r Applicable Law requires interest to be paid on such �nsurance proceeds, Lender sha�l not be
<br /> required�a pay Borrower any interest or earnings on such proceeds. Fees for publ�c adjus�ers, ar ather third parties,
<br /> retained by Borrnwer shall no�be paid aut of�he i.nsurance pr�ceeds and shall be the saie oh�iga�ion�f BarrovWer. 7f
<br /> the restoratian or repair is not economicaily feasible or Le�der's se�urity would be�essened, the.�nsurance proceeds
<br /> sha�l be applied�a the sums secured by this Security Instrument, wh�ether or not then due,with the excess,if any,paid
<br /> to Bvrrower. Such insurance pro�eeds shal�be applied in the�rder pro�ided fvr in S�ction�.
<br /> �f Borrawer abandons the Property, Lender may file, neg��iate and settle any a�ailahle insurance c.laim and
<br /> related matters. If Borrower does not respond within 30 days to a notice fr�m Lender that the insurance carrier has
<br /> affered to settle a claim, then Lender may negotiate and sett�e the claim. The 3�-day period will begin when the no��ce
<br /> is gi�en. In eith�r e�en�, or if L�nder ac�u�res the Praperty under Sec�ion 2�or otherwise, Borrav�er hereby assigns
<br /> to Lender�a}Barrower's rights ta any insurance proceeds in an amoun�not ta exceed the amounts unpaid under the
<br /> I��te flr this Security Tnstrument, and �b} any other flf Bflrr�wer's r�ghts �other than the r�gh� tv any refund of
<br /> unearned premiums paid by Borrower}under all insurarice policies ca�ering the Property, insofar as such rights are
<br /> applicable to the coverage of the Property. Lender may use the �nsurance proceeds either to repair or restore the
<br /> P.roperty or�a pay amou.nts unpaid under the Nv�e or�his Security Instrumen�, whether or not then due.
<br /> 6. �Gcupancy.Barrower shall occupy,establish,and use the Property as Borrower's principal residence wi�hin
<br /> 6� days after the executian of this S�curity �nstrument and shall continue �fl occupy the Praperty as Borrower's
<br /> principal r�siden�e far at�east one year ai�er the date of occupancy, un�ess Lender de�erm�nes tha��h�s requ�remen�
<br /> shall cause undue hardship for the BnrrovWer ar unless extenuat�ng circumstances exist wh�ch are beyond Borrower's
<br /> con�r�1.
<br /> 7. Preservation, Mainfenance and Pr�tec�ion of the Praperty; Inspecti�ns. Barrower shail not des�roy,
<br /> damage or impair �he Froperty, allaw the Property to deteriorate or comm�t waste on the Propertiy. B�rrower sha11
<br /> maintain the Property in order�a pre�ent the Property from deteriarating ar decreasing in value due to its condition.
<br /> Unless it is determined pursuant to 5ectian 5 that repair or restorati�n is not�canomical�y feasible, Borrower shal�
<br /> promptly repair the Proper�y if damaged to a�oid further deteri�ra�ion ar damage. �f insurance or candemnation
<br /> praceeds are paid in connec�ion w�th damage to th�Property, Borrower shall be responsib�e for repairing or restoring
<br /> the Property an�y if Lender has released praceeds for such purpases. Lender may disburse proceeds far the repairs
<br /> NEBRASKA FHA DEE��F TRLIST- MERS Do�Nlagic �
<br /> N EDDTZ2.FHA �911411� Page G of �3 www.docmagic.cam
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