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2� 17�2874
<br /> acknowledges that the cosi vf�he insurance co�erage so vbtained might sign�ficantly exceed#he cvs�
<br /> o�insurar�ce that Borrawer cou[d have vbtair�ed.Any amounts disbursed by Lender under this Sectian
<br /> 5 sha�l beGome additional debt of Bor�ower secured by this 5ecur��y lns�rument.These amounts sha1�
<br /> bear interest at the Nate rate from�he date of disbursement ar�d shal�be payable,vri�h such interest,
<br /> upan nvtice from Lender�o Borrvwer requesting payment.
<br /> A!!insurance policies required by Lend��and renewats o�such pv��cies shall be Su�ject tv Lender's
<br /> right to d�sapproWe suc��poiicies,shall�nc[ude a standard mortgage c�ause,and shall name Lender as
<br /> mvr�gagee andlor as an additianal loss pay�e.L�nder shal[have the right to hold the palicies and renewa�
<br /> certif cates.�f Lender requires,Bv�rvwer shalt pramptly gi�e to Lender afi receip#s vf paid premiums and
<br /> rene�a�no�ices.[f Borrower ob�ains any form of insurance co�erage,not otherwise required by Lender,
<br /> far�dama�e to,❑r destruction of,the Prope�#y,such poli�y shal�include a standard martgage clause and
<br /> sha[I name Lender as rnartgagee andlar as an additiona�loss payee.
<br /> �n the e�ent of[oss,Borrower shal!gi�e prompt notic�t�the insurance carrier and Lender.Lend�r
<br /> may make pr�af of loss if n�t made prompt�y by Borrvvuer.Un[ess Lender and Borrower othen�rise agree
<br /> in►nrriting,�ny insurance prac�eds,wheiher or not the underlying insurance was requ�red by Lender,
<br /> sha[[be app[ied to rest�rativn a�repair of the Property,i�#he restorativn or repair is ecanamically fieasibfe
<br /> and Lender's security�s not lessened.❑uring such repair and restarativn p�riod,Lender shall ha�re the
<br /> right to hold su�h insurar7ce praceeds unfi�Lender h�s had an oppa�uni�y#v inspect such Praperfy ta
<br /> ensure the vtirvrk has been compf�ted�fl Lender's satis�action, pra�ided that such inspectiot�shal�be
<br /> ur�dertaken promp�Iy.Lender may disburse proceeds far the repairs and restoration in a singl�payment
<br /> ❑r in a series vf pr�gress paym�nts as the wark is compfe#ed.lJnless an agreement is made in writing or
<br /> Appl�cable La�r requires in�erest to be paid an such insuranc�praceeds,Lender shall nat be r�quired tv
<br /> pay Borrower any interest vr earnings on suc��proceeds.Fees for public adjusters,nr other third pa�fies,
<br /> retained by Borrower shal[nvt be paid out vf the insurance proceeds and shali be the so�e obligation o#
<br /> Borrower.l#the restoration ar repa���s nvt econamically f�asibfe or Lender's s�curity►r,rvuld be lesser�ed,
<br /> the insurance proceeds shal�b�app[ied tv the sur��s secu�ed by this Sec�r�ty instrument,whether or
<br /> not#hen due,with the excess,if any,paid#a�orrower.5uch insurance praceeds shal�be applied in the
<br /> order prov�ded�or ir�S�ction 2.
<br /> ff B�r�ovuer abandans the Prop�r#y,Lender may file,neg�t�ate and set�ie any a�ailabl��nsurance
<br /> claim and related mat�ers.��Bo�rvwer does not respond v�rit��in 30 days to a r���ice fram Ler�der that the
<br /> insurance carrier ha�offered to s�ttle a�laim,then Lende�may neg�tia�e and sett[e the c[aim.The 3D�
<br /> day perivd wri��b�g�n when the na#i�e is gi�en.In either event,o�if Lender a�quires the Pr�pe�ty under
<br /> Sect�on�Z vr othenrvise, Barrower hereby assigns tv Lender ta} Borrower's rights ta any insuranc�
<br /> proc�eds in an amount no�ta exc�eed#he amounts unpaid under the Nat�ar fh�s Securi�y tnstrument,
<br /> and tb}any other of Borrower's rights�other than the�ight to any�efund of uneam�d premiums paid
<br /> by Bor�awer}unde�afl�nsurance pfllicies co�ering the Prope�fy,[nsvfar as such righ�s are applicabie
<br /> to tl�e cv�erage af the Prvperty.L�nder may use the insurance proe.�eds eifher ta repai�or restflre the
<br /> Property ar#o pay amvun�s unpaid unde�the Note vr fhis 5ecurity fnstrument,whether or not then d�e.
<br /> £. accupan��►. Bvrrvwer shal!occup�, �stablish, and use the P�ope�ty as Bv�-rawer's principa!
<br /> resider�ce��r�thin 50 days af�er fhe execution a�this Secur�ty Instrum�nt and sha��continue to occupy the
<br /> Prvperty as Sorrower's pri��cipal�esidence for at�east vne year after#he date of occupancy,unless Lender
<br /> atherwis�agrees in writ�ng,which cansent shall na#be unreasonably wi�hhe�d, or unless exfenuatir�g
<br /> ci�cumsiances ex�s���hich are beyond B�rrawer�s cvntrol.
<br /> 7. Pr�s�rvation, ilflaintenance and Protec€ivn a�the Property; �nspectians. Borrower shall
<br /> nvt destro�r,damage vr�mpair the Property,al�av�r the Property�o deteriorate ar cvmmit wa�te on the
<br /> Prope�ty.V1lhether o�no��o�ower is residing in th��'roperty, Borrower shal#maintain th�Prvperty in
<br /> ❑rder tfl preven#the Property from deteriorafing or decr�asing in�alue due tv its cond€t�on. Un[ess it
<br /> is determined �ursuant#v Section �that repair ar restoration is nat ecanomic�ally�easible, gorrvwer
<br /> shal�pramptiy repair the Property��damaged t❑avoid�u�ther de�erivration❑r damag�.I#insurance or
<br /> candemnation proceeds are paid'€n cvnne��ion with damage ta,vr the taking of,#he Prope�#y,Barrower
<br /> shall be responsib[e fior repairirig or�estoring the Prape�y�n�y if Lender has �eleased prviceeds for
<br /> su�h pur�vses.Lender may disburse proceeds�vr the repairs and restv�ation in a single payment vr
<br /> in a ser�es of progr�ss payments as the work is comp�eted.�f the insurance ar�andemnat�an proceeds
<br /> are nvt sufficient t❑repair or restore the Proper�y,Borravver is nv�relie�ed��Borraw�r's obligation for
<br /> the campletion of such rep�ir or��sto�ati�n.
<br /> Lender or i�s agent may make reasonable entries upon and ir�spections a�ti�e Prvpet�y. If it has
<br /> reasanable cause,�ender may inspect�he interivr of the impro�emen�s on the Prope�y.Lender sha11 gi�e
<br /> Borrowe�notice a�the#�me vf or prior ta such an inte�flr inspe����n speci�jring such reasonable cause.
<br /> 8. Barro�er's Loan Appticat�vn.Barrvwershall be in defau(t if,during the Loan�ppfication process,
<br /> Bor�owe�flr any persor�s or entities aGting at fhe��rectivn of Borrawer❑r with Borrower's knauvledg�or
<br /> consent gave materially false,mislead�ng,ar inaccurate informativn or stat�men�s to Lender{a�faifed to
<br /> pro�ride Lende�with ma�erial infflrmat�on3 in connectian with the Loan.Material rep�esenta�ians include,
<br /> but are not[imited to,�epresen�atians cvncerning Borrvvuer's vc�upancy of the Proper�y as go�rower's
<br /> principa!�esidence.
<br /> 9, Prot�ct�an o�Lender's Inierest in the Prvperty and Rights Under th�s Security Instrument.
<br /> lf�a� Borrower fails to perfvrm the co�enanfs and agreements cantained in th�s Security lns�rument,
<br /> (b}there is a�egal proceeding that mi�ht signifcant�y affect Lender's inferest in the Prope€�y andlo�
<br /> rights under this Security�r�s�rum�nt�such as a proceeding in bankruptcy,probate,far candemna�ion or
<br /> farfeiture,fvr erifo�cement of a lien which may a�tain priority vWer this 5ecurify[nstrument v�to enfarce
<br /> la�vs ��regulat��ns}, or€c} gorr�wer has abandaned the Prape�#y, then Lender may do and pay#or
<br /> ►�vha#ever is reasanable or apprapriate tv prote�t Lender's in�erest in the Proper�y and rights under this
<br /> NEBRASKA--Sing1�Family--Fannie 1�►IaelFr�ddi�Mac�NiFQR�I�!INSTRUMENT Fvrm 3028�!!01 �
<br /> Ellie Mae,�nc. Page 5 of�� NEUDEED �415
<br /> NEUDEE❑{CL.S)
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