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201805663
<br /> LOAN#: 17141
<br /> acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost
<br /> of insurance that Borrower could have obtained.Any amounts disbursed by Lender under this Section
<br /> 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall
<br /> bear interest at the Note rate from the date of disbursement and shall be payable, with such interest,
<br /> upon 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 /> right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as
<br /> mortgagee and/or as an additional loss payee.Lender shall have the right to hold the policies and renewal
<br /> certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and
<br /> renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender,
<br /> for damage to,or destruction of,the Property,such policy shall include a standard mortgage clause and
<br /> shall 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 /> may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree
<br /> in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender,
<br /> shall be applied to restoration or repair of the Property,if the restoration or repair is economically feasible
<br /> and Lender's security is not lessened. During such repair and restoration period, Lender shall have the
<br /> right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to
<br /> ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be
<br /> undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment
<br /> or 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 /> pay Borrower any interest or earnings on such proceeds.Fees for public adjusters,or other third parties,
<br /> retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of
<br /> Borrower.If the restoration or repair is not economically feasible or Lender's security would be lessened,
<br /> the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or
<br /> not then due,with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the
<br /> order provided for in Section 2.
<br /> If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance
<br /> claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the
<br /> insurance carrier has offered to settle a claim,then Lender may negotiate and settle the claim.The 30-
<br /> day period will begin when the notice is given. In either event, or if Lender acquires the Property under
<br /> Section 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 /> and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid
<br /> by 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 /> Property 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 /> residence within 60 days after the execution of this Security Instrument and shall continue to occupy the
<br /> Property as Borrower's principal residence for at least one year after the date of occupancy,unless Lender
<br /> otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating
<br /> circumstances exist which are beyond Borrower's control.
<br /> 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall
<br /> not 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 /> order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it
<br /> is determined 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 /> condemnation 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 /> such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or
<br /> in a series of progress payments as the work is completed. If the insurance or condemnation proceeds
<br /> are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for
<br /> the 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 /> reasonable cause,Lender may inspect the interior of the improvements on the Property.Lender shall give
<br /> Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause.
<br /> 8. Borrower's Loan Application.Borrower shall be in default if,during the Loan application process,
<br /> Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or
<br /> consent gave materially false,misleading,or inaccurate information or statements to Lender(or failed to
<br /> provide Lender with material information)in connection with the Loan. Material representations include,
<br /> but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's
<br /> principal residence.
<br /> 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument.
<br /> If(a) 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 /> rights under this Security Instrument(such as a proceeding in bankruptcy, probate,for condemnation or
<br /> forfeiture,for enforcement of a lien which may attain priority over this Security Instrument or to enforce
<br /> laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for
<br /> whatever is reasonable or appropriate to protect Lender's interest in the Property and rights und- hi
<br /> Initial-r/%i
<br /> NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br /> Ellie Mae,Inc. Page 5 of 10 NEUDEED 0415
<br /> NEUDEED(CLS)
<br /> 08/21/2018 06:54 AM PST
<br /> AY:Mr
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