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2� 1 ��599�
<br /> All insurance poiicies required by Lender and renewa�s of such policies sha1� be subje���o Lender's righ�t�
<br /> disapprove such pol�c�es, sha�1 inc�ude a s�andard mortgage c�ause, and shall nam.e L�nder as m�r�gagee
<br /> andlor as an additianal loss payee. Lender shall ha��the right ta hoid�he policies and renev�al c�rtifica�es. �f
<br /> Lender requ�res, Borrower shall pramp�ly gi�e t� Lender a�i re�e�pts of paid premiums and renewai na�ices.
<br /> �f Borrower ab�a�ns an� fnrm of insuran�e co�erag�, not o�h�rwise required b� Lender, for damage to, or
<br /> destruction of, the Proper�y, such policy shall inc�ude a s�andard�rnar�gage clause and shall name L,end�r as
<br /> mor�gagee andl�r as an add��ionai �oss payee.
<br /> �n the e�en�flf�oss, Borro��r shall give promp�no�ice t�the insurance carrier and L.ender. Lender may
<br /> mak�proof of�oss if no�made promptly b� Borrov�rer. Unless I.,�nd�r and Borrower otherwise agree�n
<br /> writing, any insur�nce proceeds, whether or not �h�underl��ng insuran�e�as r�qu�red��Lender, shall be
<br /> applied ta res�ora��on or r�pair of�he Proper�y, xf the restara��on or repair is econom�cal�y feas�ble and
<br /> Lender's security is nat�essened. During such repair and res�oration per��d, Lender shall have th�ri�ht to
<br /> ho�d such �nsurance proceeds un�i� Lender has had an oppor�un�ty ta inspec�such Praper�y to ensure th�
<br /> work has been�ompleted to Lend�r's sa�isfac��an, pro�ided�hat such inspe��ion sha��be undertaken
<br /> promp�iy. Lender may disburse pr�ceeds for�h�r�pairs and restorat�on �n a single payment or in a ser�es of
<br /> pra�ress payments as th�work�s comple�ed. Uniess an agreement �s made in vvrit�ng or Appl�cabl� Law
<br /> requ�res interes�to be paid�n such insurance proceeds, Lender shall no�be requ�red to pay Borrower any
<br /> �nterest or earnin�s on such praceeds. Fees for public adjusters, or�ther third parties, r�tained b� B�rro�er
<br /> sha�l n��be paid out of the �nsurance proc�eds and shal� be the sol�obligation of Borrovver. If�he res�oratian
<br /> or repair is no�econorni�ally feas�ble or Lender's secur��y would be��ssened, �he insurance proceeds shall be
<br /> appi�ed to �he sums secured by this Secur��� �nstrumen�, �rhether or not then due, with�he e�cess, �f any,
<br /> pa�d�o Borrower. Su�h �nsurance proceed� shail be app�ied in the order pro�vided for�n Sec�ion�.
<br /> �f Borrower abandons�h�Propert�, I.�nder ma� file, ne�otia�e and set�Ie an�r a�aila��e�nsurance claim and
<br /> re�ated matters. �f Borrov�rer does n�t resp�nd�rith�n 3D days t� a notice from I.ender�ha��he insurance
<br /> carrier has offered�o se��i�a claim, then Lender may ne�otia�e and settle the claim. The 3�-day period w��l
<br /> hegin«hen�he na�ice is�i�en. �n ei�her ev�n�, or if L�nder acquires the Proper�y under Section�2 or
<br /> oth�rv�is�, Borro�ver hereby assigns to L.end�r�a} Borrow�r's rights �o any �nsurance proceeds in an am�unt
<br /> not to e�c�ed�he arnounts unpaid under�he Note or�his Secur��y �nstrum�nt, and �b} any o�her of
<br /> Boa-row�r's righ�s �ather than the right�� any refund flf unearned premiums paid b�� Borr��er} under all
<br /> insurance pol�cies covering�he Property, xnsofar as such ri�h�s are applicabie to t�ae co�verage of�he ,
<br /> Propert�. Lender may use the�nsurance proceeds either��repa�r or res�are the Propert�ar�o pay am�un�s
<br /> unpaid under the Not�or this Secur�ty Ins�rument, �uhe�her or not then due.
<br /> 6. �ccupancy. Borrov�rer sha�l occup�, estab��sh, and use the Proper�y as Borrow�r's pr�ncipal residence
<br /> vvi�h�n��days after the executian of th�s Securit� Znstrumen�and shall con�inue�o occupy the Prflper�y as
<br /> Borrower's pr�ncipal residence for at least one year after the date of occupancy, unless Lender o�herw�se
<br /> agrees in wr�t�ng, vvhi�h c�nsent shal�not be unreasonably vvithhe�d, or unless extenuating circumstances
<br /> ex�st which are be�and B�rrow�r's c�ntrol.
<br /> 7. Preservatian, Maintenance and Protectivn of the Praperty: �nsp�ctions. Barro�rer sha�l not destroy,
<br /> da�m.age ar�mpa�r the Proper�y, al�ow�h� Proper�y to de��ri�rate or commi�waste�n the Proper�y. V�irhe�her
<br /> or na� Borrov��r is r�sid�ng in�he Proper��, ��rrower shali main�ain the Praperty in ard�r t�pr�ven�the
<br /> Prapert�from�.eteriora�ing or decreas�ng in�alue due to its condi�ion. Unless ��is�.etermined pursuan�ta
<br /> Section 5 �hat repair ar res�ora�ion is na��conomically feas�b�e, Borrower shal�promp�l�repair the Praper�y
<br /> if dannaged�o a�o�d further deterioration or da�ma�e. �f insurance or Gondemna�ion proceeds ar�pa�d in
<br /> canne���an v�ri�h damage�o, or the tak�ng of, the Property, Borr�wer shal�be r�sp�ns�ble for repa�ring or
<br /> restor�n��he Propert�tini� if L�nder has re��ased proce�ds far such purposes. Lender ma}� disburse pro��eds
<br /> N�BRASKA-Single Family-Fa�ni�MaelFreddie Mac�N�F�RM lNSTRUMENT �arm 3�2$110�
<br /> VMP� VMPfi�N�S t13D2}
<br /> Wofters K�uwer Financial Ser�ices Page 7 vf 17
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