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<br />(d) Proof of Loss; Application of Proceeds. In the event of loss, Borrower must give prompt
<br />notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by
<br />Borrower. Any insurance proceeds, whether or not the underlying insurance was required by Lender, will be
<br />applied to restoration or repair of the Property, if Lender deems the restoration or repair to be economically
<br />feasible and determines that Lender's security will not be lessened by such restoration or repair.
<br />If the Property is to be repaired or restored, Lender will disburse from the insurance proceeds any
<br />initial amounts that are necessary to begin the repair or restoration, subject to any restrictions applicable to
<br />Lender. During the subsequent repair and restoration period, Lender will have the right to hold such
<br />insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been
<br />completed to Lender's satisfaction (which may include satisfying Lender's minimum eligibility requirements
<br />for persons repairing the Property, including, but not limited to, licensing, bond, and insurance requirements)
<br />provided that such inspection must be undertaken promptly. Lender may disburse proceeds for the repairs
<br />and restoration in a single payment or in a series of progress payments as the work is completed, depending
<br />on the size of the repair or restoration, the terms of the repair agreement, and whether Borrower is in Default
<br />on the Loan. Lender may make such disbursements directly to Borrower, to the person repairing or restoring
<br />the Property, or payable jointly to both. Lender will not be required to pay Borrower any interest or earnings
<br />on such insurance proceeds unless Lender and Borrower agree in writing or Applicable Law requires
<br />otherwise. Fees for public adjusters, or other third parties, retained by Borrower will not be paid out of the
<br />insurance proceeds and will be the sole obligation of Borrower.
<br />If Lender deems the restoration or repair not to be economically feasible or Lender's security would
<br />be lessened by such restoration or repair, the insurance proceeds will be applied to the sums secured by this
<br />Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance
<br />proceeds will be applied in the order that Partial Payments are applied in Section 2(b).
<br />(e) Insurance Settlements; Assignment of Proceeds. If Borrower abandons the Property, Lender
<br />may file, negotiate, and settle any available insurance claim and related matters. If Borrower does not
<br />respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then
<br />Lender may negotiate and settle the claim. The 30 -day period will begin when the notice is given. In either
<br />event, or if Lender acquires the Property under Section 26 or otherwise, Borrower is unconditionally
<br />assigning to Lender (i) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts
<br />unpaid under the Note and this Security Instrument, and (ii) any other of Borrower's rights (other than the
<br />right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the
<br />Property, to the extent that such rights are applicable to the coverage of the Property. If Lender files,
<br />negotiates, or settles a claim, Borrower agrees that any insurance proceeds may be made payable directly to
<br />Lender without the need to include Borrower as an additional loss payee. Lender may use the insurance
<br />proceeds either to repair or restore the Property (as provided in Section 5(d)) or to pay amounts unpaid under
<br />the Note or this Security Instrument, whether or not then due.
<br />6. Occupancy. Borrower must occupy, establish, and use the Property as Borrower's principal
<br />residence within 60 days after the execution of this Security Instrument and must 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 will not be unreasonably withheld, or unless extenuating
<br />circumstances exist that are beyond Borrower's control.
<br />7. Preservation, Maintenance, and Protection of the Property; Inspections. Borrower will not
<br />destroy, damage, or impair the Property, allow the Property to deteriorate, or commit waste on the Property.
<br />Whether or not Borrower is residing in the Property, Borrower must maintain the Property in order to prevent
<br />Rocket Mortgage, LLC (NMLS #: 3030) I Rocket Mortgage, LLC (NMLS #: 3030) Christopher Childress
<br />(License #: NE6703, NMLS #: 6703)
<br />NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 07/2021
<br />ED 25306.5 Page 8 of 20
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<br />Q10353795662900202000233fec54f99-5c29-48f4-9a08-39d25d922a870820
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