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202101162 <br />might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender <br />under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts <br />shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice <br />from Lender to Borrower requesting payment. <br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to <br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an <br />additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, <br />Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any <br />form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such <br />policy shall include a standard mortgage clause and 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 may make <br />proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any <br />insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or <br />repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During <br />such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an <br />opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such <br />inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single <br />payment 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 pay Borrower <br />any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall <br />not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not <br />economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums <br />secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance <br />proceeds shall be applied in the order provided for in Section 2. <br />If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related <br />matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to <br />settle a claim, then Lender may negotiate and settle the claim. The 30 -day period will begin when the notice is given. In <br />either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender <br />(a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this <br />Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums <br />paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the <br />coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay <br />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 residence within 60 <br />days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal <br />residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent <br />shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. <br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, <br />damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not <br />Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from <br />deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or <br />restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further <br />deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking <br />of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released <br />proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a <br />series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to <br />repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or <br />restoration. <br />NEBRASKA -Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT with MERS Form 3028 1/01 <br />Page 6 of 13 <br />IDS, Inc. - 30227 <br />IIn�I fC��'I�'�I"ail <br />�Zf <br />Borrowers) Initials 472c <br />