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2� 1 ��74�9 <br /> A11 insurance polic�es required by Lender and renevva�s of such policies sha�l be subject to I.ender`s right t� <br /> d�sapprove such po�ic�es, shal� in�lude a standard mortgage c�ause, and shali name L�nder as mar��age� <br /> andlor as an add�t�ona� loss payee. Lender sha��ha�e the righ�t�hold the po�icies and renewal cert�f�ca�es. �f <br /> Ilender requires, Borrnwer shall promp��y give�o Lender a�i rec��pts �f paid premiums and renewa�no��ces. <br /> �f B�rrawer obtains any farm af insurance�a�era�e, no�o�herwise required b� Lend�r, for damage�o, or <br /> destruction of, �h�Property, such palicy sha�� inc�ude a s�andard mor�gage ciaus�and shall name Lender as <br /> mor�gagee andlor as an additiona� �oss pa��e. <br /> �n�h�even�of loss, Barrower sha�l gi�e promp�no���e to the�nsurance carrier and Lender. Lender ma� <br /> make pro�f of�oss if no�made pramptiy by Borrower. IJnl�ss Lender and Barrower o�herw�se agree in <br /> �vrit�ng, any �nsurance proceeds, whe�h�r or not the under��ing insurance was required b� L.ender, �ha��be <br /> applied to res�orat�on or repair of�h�Proper�y, if the restoration�r repair iS eGonomica��y feasib�e and <br /> Lend�r's security is not lessened. During such repair and restorat�on period, Lender shal�ha�e the righ�to <br /> hald such insurance proceeds untii Lender has had an opp�r�un��y to �nspect such Property ta�nsur�th� <br /> v�ork has�een conr�p�eted to Lender's sa��sfaction, proWided�hat such inspect�on shall be undertaken <br /> promp�ly. Lender ma�r d�sburse proceed�for the r�pair� and res�orati�n in a sin�le payment ar�n a �er�es of <br /> pro�ress payments as the work is campie�ed. Un�ess an agreemen� is made in writing ar Applicable Law <br /> r�quires �n�erest to be paid on such �nsurance proceeds, L�nder shal� not he required �o pa}�Borro�ver any <br /> interes�or earnings on such pro���ds. F�es far pub�ic adjusters, �r o�her th�rd pa�ies, re�a�ned by B�rrovwer <br /> sha�l no���pa�d ou��f�he insurance proceeds and shal� �e th�soie obi�ga�ion of Borrovver, If�he restorat�on <br /> or r�pair is n�t econom�call� feas��le or Lend�r's sec�rity �ould b�lessened, the insurance proceeds shall be <br /> appiied�o �h� sums secured b��his Secur�ty Instrum�nt, whether ar no��hen due, wi�h�he exce�s, if any, <br /> paid to B�rrower. Such insurance pro�eeds sha��be appi�ed �n�he�rder prav�d�d for in Sec�ion�. <br /> �f Borro�v�r abandons �he Proper��, Lender may f�le, ne�o�ia�e and se��ie any a�a�la��e �nsurance c�a�m and <br /> rela�ed m.atters. �f Barrower does no�respond w��h�n 3�days�o a notice from L.ender that�h��nsurance <br /> carrier has offered ta s�ttle a c�aim, then L.�nder ma�neg�tiat� and sett�e the claim. The 30wda�per�od wi�� <br /> b��in�xThen the not��� �s�iven. In e�the�-even�, or if Lender acqu�r�s �he Proper��under Sect�on��or <br /> ather�r�s�, BorrQvver here�� assigns to Lender�a} Borrower's r��hts�o any insura�ace pr��eed� in an amaun� <br /> no��o exceed�h�amounts unpaid und�r the�o�e or�h�s 5ecuri�y �nstrument, and �b} any o�h�r of <br /> B�rrower's rzghts �other�han the r�ght to an� refund of unearned prem�ums pa�d b�B�rrawer}under alI <br /> �nsurance policies covering the Proper�y, �nsofar as such r�gh�s are applicab�e�o the co�erage of the <br /> Proper��. Lender ma�use th��nsurance proceeds either to repair or res�ore the Prop�rt�or��pa� amounts <br /> unpaid under�he Note or�his Securi�y�nstrument, �hether flr nat then due. <br /> �. �c�upancy. Borr��rv�r shall occupy, establish, and use the Prop�r�y as Borrow�r's prinGipal residence <br /> v�ithin�4 days after the execu��on of th�s Secur�ty �ns�rumen�and shal� con�inu�ta accupy the Proper��r as <br /> Borrov�er's princxpal residence for at least one year after�he dat�of ac�upancy, unless I.�nder otherwise <br /> a�rees in writing, v�rhich consent shall no�be unreasonably v��thhe�d, ar un��ss extenua�ing circum�stances <br /> ex�st vcrhich are beyond B�rrower's contrai. <br /> 7. Preser�at�on, �l[aintenance and Pr�tect�on �f the Property; Inspect�ons. Borrow�r sha��no�destr�y, <br /> damage or impair the Praperty, allow the Prop�r�y�o de�eriora�e or comm�t was�e on the Proper��r. 'L�Vhether <br /> nr no��arrov�rer is residing �n the Pr�per�y, Borraw�r shall mainta�n the Propert� in order�o pre�en�th� <br /> Proper��r from deteri�rating ar decreasing �n va�u�due to its�ond��ion. Unless i� is det�rm�ne�.pursuan�ta <br /> Se���an 5 tha�repaxr or restoration is na�ecvnomically feas�b�e, Borrower shail promp��y repa�r the Property <br /> if damaged ta a�oid fur�her de�eriorat�on or dam.age. If insurance�r condemnat�on proceeds are paid in <br /> �onn��tion with damag�to, or th�taking�f, the Property, Borrow�r sha�i�e responsib�e far repairing or <br /> res�oring t�e Prop�r�y only �f L.ender has released pro�eeds f�r such purposes. Lender may d�sburse proceeds <br /> NEBRASKA-Single Fami�y-Fannie Mael�reddi�Ma�UNf��RM iNSTRUM�NT Fvrrn 3fl�8 114't <br /> VMP Q VAlIP6[NE}�130�� <br /> Wott�rs Kiuwer�ina��iai Ser�ices Page 7 af'f 7 <br />