Laserfiche WebLink
2� 1 ��572� <br /> Al� insurance po�icies r�qu�red�y Lender and renewals of such pol�c�es sha�l be subjec�to Lender's righ�to <br /> disappro�e such poi�cies, �hal� ine�ude a standard mar�gag���ause, and shali nam� Lender as mortgagee <br /> andl�r as an addit�onai �oss payee. Lender sha��have the right t�hold the policies and r�newal �er�i��a��s. If <br /> Lender requires, Borrower shall promp�l�gi�e to Len�der all receipts af paid premiums and renewa� na�i�es. <br /> If Borrower o��ains any farm�f insuran�e co�erage, not�therwise requ�red b}� Lend�r, for damage to, or <br /> destruc��on�f, the Property, such po�icy shall include a standard m�rtgage c�ause and shall name Lender as <br /> mor�gagee andlor as an additional loss payee. <br /> �n the even�of loss, Borrovver sha�I gi�e promp�notice to the insurance carr��r and Lender. Lender ma� <br /> make pr�af of lass if no� mad�pr�mptly by Bnrrawer. Un�ess L�nder and Barr�wer otherv�ris�agree�n <br /> writ�ng, an� insurance proceeds, whe�her or not�he underly�ng insurance vvas requ�red by Lender, sha��b� <br /> appl�ed ta restarat�on or r�pair of�he Propert�, if the restoration or r��air�s economical�y feas�b�e and <br /> Lender's securit� is not Iessen�d. During su�h repair and r�storation period, Lender shal�have the right�o <br /> ho�d such insuranc�proceeds untii Lender has had an appartunity to inspec�such Proper�y �a ensure t�e <br /> vvork has been com�p�eted to Lender'� satisfact�on, pr��vid�d that such inspec�ion shall �e undertaken <br /> promp�iy. Lender may d�sburse proceeds for the repa�rs and restflrat�on�n a sin��e pa}�ment�r in a seri�s of <br /> progress payments as the wark is comple�ed. Unless an agre�rnent is made in vvriting flr App��ca��e La� <br /> r�qu�res �nterest ta be paid on such �nsurance proceeds, Lend�r shall no�be required to pay Borrower any <br /> �nterest�r earnings an such proceeds. Fe�s for pub�ic adjusters, �r��her third par�ies, retain�d b�Borrower <br /> shall no�be paid�u�of the insurance proceeds and shal� b�the sol�o�I��at�on of Borro�ver. �f the restora��an <br /> or repa�r�s nat�conamicali� feasihle or Lender's secur��y would be lessened, �h�insurance pr��e�ds sha�i be <br /> applied t�the sums s�cured b��h�s Secur�ty �nstrument, whether or no�then due, with�h�e�c�ss, if any, <br /> paid�o Borrov�er. Such insurance proceeds shall be appi�ed in�he�rder provided for in�ection 2, <br /> If Borr���er abandons the Property, Lender ma� fi�e, negatia�e and sett�e any available insurance Ciai�m and <br /> re�at�d matters. �f Bflrrov��r do�s not respond v�r�th�n 34 days�o a not�ce fram Lender that the insurance <br /> carrier has offered to set�l�a��aim, then I.end�r ma�r n��otiate and se���e�he c�aim. The 3�-day period v��i�l <br /> begin v�rhe�� �he no�ice is giv�n. In either e�ent, or if Lender acquires th� Proper��under Sect�on Z�ar <br /> otherv�ris�, Barrower h�reby assigns to Lender �a} B�rro�rer's rights ta a��y insurance proceeds in an am�un� <br /> no� �o e��eed�he amounts unpaid under the Note or this Securit� Instrumen�, and �b} any flther af <br /> Barro�er's r�ghts �o�her than�he right to�.n� refund of unearned pr�miums paid by Borrower} under al� <br /> insurance�olicies cov�ring the Proper�y, �nsofar as such rights are app��cab�e to �he coverage of the <br /> Pr�perty. Lend�r may use the insurance pr��eeds e�ther t�repair or restore�he Praper�}� or t�pa�amnunts <br /> unpaid under�he No��or�his Se�urity �nstrum�n�, whether or no�then due. <br /> 6. Occupancy. B�rrawer shall o��upy, es�ablish, and use the Prop�rt� as Borr�vver's pr�ncipal residence <br /> w�th�n 6�days af�er the execu�ian af this Se�ur�t� Instrumen�and shall cantinue�o nccupy�he Pro�er�� as <br /> Borrower's prin�ipa� resid�nce for a�least one year af�er the date�f occupanc�, unless Lender otherv��se � <br /> agrees in�rriting, whi�h consen�shall not be unreasanabl�r w��hh�Id s or unl�ss extenua�ing c�rcumstan�es <br /> ex�s�which are be�rond Borrower's control. <br /> 7. Preservat�an, E�1a�ntenance and P�rotect�an af th�: Prvperty: Inspections. Borrov�er shall not des�r�y, <br /> damage�r impair the Proper��, ailovv the Property�o de�eriora�e or c�m.mi�was�e on the Prop�rt�. Whether <br /> or no�Borrow�r�s residing �n the Pr�perty, Barrawer shall main�ain�h�Praperty in order to preWen��he <br /> Propert}� from de�eriorating or decr�as�ng in va�ue due�o �ts cond�tion. Unless i� is determ�n�d pursuant to <br /> Sec�ion 5 that repair or restoratifln is not��on�xn�cal�y feaszble, Borravwer shail promp�ly repair�he Pr�p�r�y <br /> if dama�ed�o a�oid fur�her deteriorati�n or damag�. If insurance or condemnatian proceeds are pa�d in <br /> connec�ion with damage�o, or the taking of, �he Prflper��, Borrov��r�ha�l be respons�b�e f�r r�pa�ring ar <br /> r�storing �he Proper�y only if Lender has released pro�eeds fflr such purpos�s. Lender may disburse praceeds <br /> N�BRASKA-Sir�gle Farr-��ly-Fannie MaelFreddie Mac UNIF�RM INSTRUMENT �vrm 3�28�1�1 <br /> VMP Q VMP6�N���i 342} <br /> Walters Kluwer�inanciai 5er�ices Page 7❑f 17 ,' <br />