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<br />LOAN #: 1705000014789
<br />knowledges that the cost of the insurance coverage so obtained might significantly exceed the cost
<br />insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section
<br />shall become additional debt of Borrower secured by this Security Instrument These amounts shall
<br />b-ar interest at the Note rate from the date of disbursement and shall be payable, with such interest,
<br />u.on notice from Lender to Borrower requesting payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's
<br />ri ht to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as
<br />ortgagee and /or as an additional loss payee. Lender shall have the right to hold the policies and renewal
<br />rtificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and
<br />newel notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender,
<br />r damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and
<br />all name Lender as mortgagee and /or as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender
<br />ay make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree
<br />i writing, any insurance proceeds, whether or not the underlying insurance was required by Lender,
<br />s all be applied to restoration or repair of the Property, if the restoration or repair is economically feasible
<br />a d Lender's security is not lessened. During such repair and restoration period, Lender shall have the
<br />ri ht to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to
<br />e sure the work has been completed to Lender's satisfaction, provided that such inspection shall be
<br />u dertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment
<br />o in a series of progress payments as the work is completed. Unless an agreement is made in writing or
<br />Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to
<br />..: y Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties,
<br />r. ined by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of
<br />B • mower. If the restoration or repair is not economically feasible or Lender's security would be lessened,
<br />th- insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or
<br />n.t then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the
<br />o •er provided for in Section 2.
<br />If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance
<br />cl., im and related matters. If Borrower does not respond within 30 days to a notice from Lender that the
<br />in.urance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-
<br />d- y period will begin when the notice is given. In either event, or if Lender acquires the Property under
<br />S::ction 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance
<br />proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument,
<br />a d (b) any other of Borrower's rights (other than the right to any refund of uneamed premiums paid
<br />b Borrower) under all insurance policies covering the Property, insofar as such rights are applicable
<br />to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the
<br />P •perty or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal
<br />re . idence within 60 days after the execution of this Security Instrument and shall continue to occupy the
<br />Pr. pertyas Borrower's principal residence for at least one yearafterthe date of occupancy, unless Lender
<br />of erwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating
<br />ci umstances exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall
<br />no destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the
<br />Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in
<br />or.er to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it
<br />is . etermined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower
<br />shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or
<br />co demnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower
<br />shall be responsible for repairing or restoring the Property only if Lender has released proceeds for
<br />su h purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or
<br />in : series of progress payments as the work is completed. If the insurance or condemnation proceeds
<br />ar not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for
<br />th completion of such repair or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has
<br />re sonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give
<br />Bo ower notice at the time of or prior to such an interior inspection specifying such reasonable cause.
<br />8. Borrower's Loan Application. Borrower shal I be in default if, during the Loan application process,
<br />Bo ower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or
<br />co sent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to
<br />pr vide Lender with material information) in connection with the Loan. Material representations include,
<br />bu are not limited to, representations conceming Borrower's occupancy of the Property as Borrower's
<br />pri cipal residence.
<br />9. Protection of Lender's Interest In the Property and Rights Under this Security Instrument.
<br />If (:) Borrower fails to perform the covenants and agreements contained in this Security Instrument,
<br />(b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or
<br />is under this Security Instrument (such as a proceeding in bankruptcy, probate, forcondemnation or
<br />iture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce
<br />or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for
<br />tever is reasonable or appropriate to protect Lender's interest in the Property and s fflI�r th is
<br />Initials /W
<br />NE RASKA — SingIe Family— Fannie Mae /Freddie Mac UNIFORM INSTRUMENT
<br />Erie Mae, Inc. Page 5 of 10
<br />Form 30281/01
<br />NEUDEED 0415
<br />NEUDEED (CLS)
<br />06/28/2017 03:48 PM PST
<br />201704346
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