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2� 1 ��5244
<br /> A�l �nsuranc��olic��s required by Lender and renewa�s of su�h polici�s sha�l be subject ta Lender's ri�ht t�
<br /> disappro�ve su�h po�icies, sha�l inc�ude a s�andard mortgage c�ause, and shall name Lender as m�rtgagee
<br /> andlor as an add�ti�na� loss pa�ee. Lender shall have�he r�ght to hold the p��icies and renewal certif�Gates, �f
<br /> Lender requir�s, Borrower s�ali promptl� gi�e�o I.�nder all rece�pts of paid premiums and renewal not�ces.
<br /> �f Borrav�er�btains any f�rm�f insurance c�verage, not atherwise r�quired by L.�nder, f�r damage�a, or
<br /> destruct�on�f, the Property, su�h polic� shall inc�ude a standard mor�gag�c�ause and shal� name L.�nder as
<br /> mor�gagee andlor as an addi�iona� �oss pay�e.
<br /> In�he e�ent af�ass, Borravver shal� give�ro�mpt��tic��o�he insurance carrier and L�nder. I.ender may
<br /> make proaf af�ass if nat nlade pr�mp�ly�y B�rrower. Uniess Lend�r and Borr�w�r o�herw�se agr�e in
<br /> v�riting, an� insurance proceeds, whether�r no��he under��ing insurance wa�requ�red by Lender, shall be -
<br /> applied to res�orat�an or r�pair of�he Pr�per�y, if the restora��an ar repair is e�onomi�al�y feasible and
<br /> Lender's se�uri�� is n�t lessened. Dur�ng such repa�r and r�starat�an per�od, Lender�hall ha�e�he right tn
<br /> ho�d such �nsurance proceeds un��i Lender has had an opportuni��r to inspect such Proper�y t�ensure�he
<br /> v�ork has�een compieted to I...�nder's satisfact�on, provided �hat such in�pection shall be under�a�en
<br /> pramp�ly, Lender may disburse pro��eds far the repa�rs and res�oration in a single paymen�or in a series�f
<br /> pra�r�ss pa}�n�ents as�ne work is cornple�ed, Unless an agr�emen��s made�n�vriting�r Applicab�e Lav�
<br /> r�qu�res �n�eres�ta be paid on such �nsurance proceeds, Lender sha��not be required��pay Borrov�er any
<br /> in�erest ar ear��ings an such pro��eds. F��� f�r publ�c adjus�ers, or�ther�hird par��es, retained by Borrower
<br /> sha�l not be paid out�f�he insurance proceeds and shall be the s�le obligation�f Borr�vver, �f the r�s��ratian
<br /> or repa�r�s n��econom�ca�ly feasi��e or Lender's securit�w�u�d be�ess�ned, the �nsurance prnceeds shall be
<br /> app�ied ta�he sums secured�y �h�s Securi�y Instrument, �rhe�her or not�hen due, v�rith the excess, �f an�r,
<br /> paid to Borrtiw�r. Such insurance proceeds shai�be appl�ed in�he ord�r provided for in Se��ion 2. _
<br /> If B�rrower aband�ns the Pr�per�y, L.ender may�le, ne�o�iat�and set�le any avai�able insurance�laim�and
<br /> reiated ma�ters. �f Borro�ver does no� respond wi�hin 30 da�s to a notic� from Lender that th� insurance
<br /> carr��r has �ffered�a se�t�e a claim, �hen Lender ma� nego�iate and s����e the c�aixn. The 3�-day period�viii
<br /> begin vvhen the no�ice �s given. �n e��h�r e�ent, ar�f Lender acquires�he Proper��under S��tian��or
<br /> athervvise, B�rrower hereb� assigns to Lender�a} Borrawer's ri�hts to an� �nsurance proceeds in an amaun�
<br /> nat to e�c��d th�arnounts unpaid und�r�h�Note ar�h�s Secur�t� In��rument, and�b} an�o�her af
<br /> Borrou��r's righ�s �other than�he righ�tfl any refund of unearned pr�m�ums pa�d by Borro�ver�und�r al�
<br /> insuran�e polic�es covering�he Proper�y, �nsofar as such rx�hts are applicable�o�he ca�erage of�he
<br /> Pr�perty, Lender may us�the insurance proceeds e��her to repa�r or res�are the Proper�y or t�pay amoun�s
<br /> unpaid under th�Note�r this Securi�y Instrument, whe�her or not then due. _
<br /> �. �ecupancy. Borrow�r shall accup�, estab�xsh, and use the Proper�� as B�rrower's pri���pa� residence
<br /> within�4 days after the execution of this Security �ns�rument and shall c�n�inue��occupy th�Prap�rty as
<br /> Borro�rer's pr�ncipal residence for at l�ast one year af�er the da�e of accu�ancy, un�ess Lender a�herwise
<br /> agrees �n v�rr�ting, wh�ch consen�sha�1 no��e unreasonably withhe�d, or unless extenuat�ng c�rcumstances
<br /> e�is�which are beyand Borrower's con�r��. .
<br /> 7. Preservation. 1Vla�ntenance and Protection of the Pr�perty; �nspections. Borro�er sha�� no�destrfly,
<br /> damage�r impair�he Proper�y, a��ov�the Proper�y to deteriorate or��mm.i.�waste on�he Property. Wh�ther
<br /> or nat Barrow�r is residing �n the Pr�per�y, B�rrov�rer�ha�l maintain�he Proper�y in order to pre�en�the
<br /> Proper�y from de�eriarating or ci�creas�ng in�aiue due�o i�s condi��on. IJn�ess it is determined pursuant to
<br /> Sec�ion S tha� repair or restoration is not ec�n�m�cal�y feasible, Borr�wer shall promp�i�repair�he Property
<br /> if da�maged to avoid fur�her deter�flratian or damage. If�nsura�nce or condemnatzan proceeds are paid �n
<br /> �onnect�on v�rith damage to, or the taking of, �h�Prop�r�y, Borrov�rer shall be responsib��for repa�r�ng or
<br /> restoring �he Proper�� only �f I.ender has re��ased prac�eds fnr such purposes. Lender may disburse prflceeds
<br /> NEBRASKA-Single�amily-Fannie MaelFreddie Mac t1NIF�RM INSTRUM�NT �orm 3�28 i1�1
<br /> VMP Q VMP5�NE3{i 302)
<br /> Walters Kluwer�inancial Ser�ices Page 7 v#17
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