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2� 1 ��8�71
<br /> All �nsuranc�policies required by L�nder and renewals of such po��cies sha�� be subject to Lender's r�ght ta
<br /> d�sapprove such pal�cies, shaii inc�ude a standard mortgage clause, and sha�� name Lender�as mor��agee
<br /> andlor as an additional lass pa�ee. Lender shai�ha�re�he righ���ho�d the p�licies and renewal cer�if�cates. If
<br /> L.ender requires, Borrawer sha11 prompt�y g�ve t� Lend�r all rece�p�s�f paid pr�miums and renewal no��ces.
<br /> If Borrower ob�a�ns an� form af insurance coverage, nat othe�-vv�se requ�red by Lender, for damage�o, or
<br /> destru�t�on of, �he Proper�y, such po��cy shal� inc�ude a standard m.or�gage c�ause and sha�l name Lender a�
<br /> mor�gag�e andlor as an additional �flss payee.
<br /> �n�he e�en�of Io�s, Borrower shall give prompt na��ce�o the insurance carr�er and Lender. Lender may
<br /> make proof af loss if no�rnade promptl�b� Borrov�er. Unless Lender and Borr�vver otherv��se agree�n
<br /> wr���ng, an� insurance proceeds, �vhether�r no�the under�ying�nsurance was required by Lender, sha1�be
<br /> a�p�xed�o restoration or repair of the Property, if�h�restora�ian�r repair is econom�ca�Iy feasible and
<br /> Lender's securi�y is not�essened. During such r�pa�r and restoration period, L.ender shai�have the righ��a
<br /> hold such insuran�e proceeds unti� Lend�r has had an opportun��y�o �nspec�such Property to ensure�he
<br /> work has been comp�eted to Lender's sa�isfaction, p�ov�d�d tha� such�nspect�on shal� be under�aken
<br /> prompt�y. L,ender may dxsbu�-se proc�eds for the repairs and restoratian�n a s�ngle pa�men�or in a ser�es�f
<br /> pragress pa�men�s as the�vork �s c�mpleted. Un��ss an agre�m�nt is made in wri�ing or App�icabXe Law
<br /> requires �nterest fo be paid an such�nsurance proceeds, Lend�r shal�nat be required to pa� Borrower any
<br /> interes� or earnings an such pr�ceeds. Fees far pub�ic adjus�ers, or other third par�ies, retained by Borrovver
<br /> sha�� no�be paid aut�f the insurance praceeds and shall be�he so�e�b�iga�ion of Borrower. �f the restora�ion
<br /> or repair is not econam�caZiy feas�ble ar Lender's security v�auld be lessened, �he insurance praceeds shal�be
<br /> appl�ed ta the sums se�ur�d by�his Secur���Ins�rumen�, v�he�her or no��h�n du�, wi�h the excess, if an�,
<br /> paid to Borrower. Such insurance proce�ds sha11 be appl�ed in�he order pro��ded for in Seetion�,.
<br /> �f Borr�v�rer abandons�he Property, Lender ma�f�ie, neg�tia�e and se�tle any a�ai�able �nsurance claim and
<br /> re�ated ma��ers. If Borra�ver daes not r�spond wit�iin 3�da�s ta a notice from Lender�hat�he insurance
<br /> carrier has off�red t� sett�e a claim, then Lend�r may nego��a�e and se�t�e the c�aim. The 34-day periad will
<br /> beg�n when the natxce is gi�r�n. �n�ither e�en�, �r if Lender acquires��.e Proper�y und�r Sec�ion 2Z or
<br /> otherw�se, Borr�wer hereby assigns�o Lender�a� Borrower's righ�s to any insuran�e proceeds �n an amount
<br /> not�o exceed�he amounts unpaid under�he�o�e or�his Security �ns�rumen�, and ��} any oth�r of
<br /> Borrow�r's rights ��ther than�he righ�to any refund of unearned premiums paid by Borrower}under a��
<br /> �nsuranc�po�ici�s cav�r�ng the Proper�y, �nsofar as su�h righ�s are appl�cab�e tn the c�verage of the
<br /> Property. Lender may use the insurance pr�ceeds exther t�repair or restore the Proper�y or to pay amounts
<br /> unpa�d under the Note or�is Secur�t��nstrument, v�rhe�her ar na��hen due.
<br /> �. C]ccupancy. Borrow�r sha��flccupy, establish, and use the Proper�y as Borrawer's�rinc�pai residence
<br /> v�i�hin 6�days af�er the exe�u���n of th�s S�cur�ty �nstrument a�d shall con��nue�o occup��he Proper�y as
<br /> �3orrov�rer's pr�nc�pa� resid�nce tor at�eas�one y�ar af�er�he dat�at�ccupancy, unYess L.ender othervv�se
<br /> agrees xn writing, which con�ent sha�l nat be unreasonab��r vw��hhe�d, �r un�ess ex�enua�ing cir�ums�ances
<br /> �xxs�which are be�ond Borrower's con�rol.
<br /> 7. Preservation, Maintenance and Pratection of the Praperty; �nspect�ons. Borrower sha1� no�des�roy,
<br /> damage or impa�r�he Praper�y, al�ovv�he Prvperty�a deteriarate or comm�t v�►�as�e on�he Praper�y. 'V4rhether
<br /> or n�t B�rr�wer is residing in the Proper�y, B�rrower sha1�maintain�he Propert� in order ta pre�ent the
<br /> �'roperty from de�eriarating or de�reasing in�a�ue due�� xts cand��ion. Unless it �s determined pursuant to
<br /> Sec��on 5 that repair ar restoration is no�econom.��aiiy fea��b�e, Borrawer sha�l promp��y repair the Praper�y
<br /> if damaged to avoid fur�her de�erxora��on or damage. If insurance ar candemnati�n proceeds are paid in
<br /> connect�on with damage ta, or the taking af, �he Pro�er�y, Borrawer shali l�e resp�nsible for repairing or
<br /> restoring ihe Properiy only if Lender has re�eased proceeds for such purpases. L,end�r may disburse praceeds
<br /> NEBRASKA-Singte Fam€ly-Far�nie MaelFreddie Mac UNi��RM INSTRUM�NT Farm 3�28 11Qi
<br /> VMP� VMPfi�N�}�1302�
<br /> Wolters Kl�wer Financi�l 5er�ices Page 7 of 17
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