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202402676
<br />13703549
<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 />the Property from deteriorating or decreasing in value due to its condition. Unless Lender determines
<br />pursuant to Section 5 that repair or restoration is not economically feasible, Borrower will promptly repair
<br />the Property if damaged to avoid further deterioration or damage.
<br />If insurance or condemnation proceeds are paid to Lender in connection with damage to, or the
<br />taking of, the Property, Borrower will be responsible for repairing or restoring the Property only if Lender
<br />has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a
<br />single payment or in a series of progress payments as the work is completed, depending on the size of the
<br />repair or restoration, the terms of the repair agreement, and whether Borrower is in Default on the Loan.
<br />Lender may make such disbursements directly to Borrower, to the person repairing or restoring the Property,
<br />or payable jointly to both. If the insurance or condemnation proceeds are not sufficient to repair or restore the
<br />Property, Borrower remains obligated to complete such repair or restoration.
<br />NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />106 25306.5
<br />111
<br />Form 3028 07/2021
<br />f� �—�—�J,, , PA/4 9 of 21
<br />Initials: `O ��l 1'V -- PL/1 "l
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