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<br />not limited to, licensing, bond, and insurance requirements) provided that such inspection must be undertaken
<br />promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress
<br />payments as the work is completed, depending on the size of the repair or restoration, the terms of the repair
<br />agreement, and whether Borrower is in Default on the Loan. I..,ender may make such disbursements directly to
<br />Borrower, to the person repairing or restoring the Property, or payable jointly to both. Lender will not be required
<br />to pay Borrower any interest or earnings on such insurance proceeds unless Lender and Borrower agree in writing or
<br />Applicable Law requires otherwise. Fees for public adjusters, or other third parties, retained by Borrower will not
<br />be paid out of the insurance proceeds and will be the sole obligation of Borrower.
<br />If bender deems the restoration or repair not to be economically feasible or Lender's security would be lessened
<br />by such restoration or repair, the insurance proceeds will be applied to the sums secured by this Security Instrument.
<br />whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds will be applied in the
<br />order that Partial Payments are applied in Section 2(bi.
<br />(e) Insurance Settlements; :assignment of Proceeds. If Borrower abandons the Property, Lender may tile,
<br />negotiate, and settle any available insurance claim and related matters. If Borrower does not respond within 30 days
<br />to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle
<br />the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property
<br />under Section 26 or otherwise, Borrower is unconditionally assigning to Lender (i) Borrower' s rights to any insurance
<br />proceeds in an amount not to exceed the amounts unpaid under the Note and this Security Instrument, and (ii) any
<br />other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all
<br />insurance policies covering the Property, to the extent that such rights are applicable to the coverage of the Property.
<br />If Lender files, negotiates, or settles a claim, Borrower agrees that any insurance proceeds may be made payable
<br />directly to 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 the Note
<br />or this Security Instrument, whether or not then due.
<br />6. Occupancy. Borrower must occupy, establish, and use the Property as Borrower's principal residence within
<br />60 days after the execution of this Security Instrument and trust continue to occupy the Property as Borrower's
<br />principal residence for at least one year after the date of occupancy, unless: (I) Lender otherwise agrees in writing.
<br />which consent will not be unreasonably withheld; (2) Lender determines that this requirements shall cause undue
<br />hardship for the Borrower; or (3) extenuating circumstances exist which arc beyond Borrower's control.
<br />7. Preservation, Maintenance, and Protection of the Property; Inspections. Borrower will not destroy,
<br />damage, or impair the Property, allow the Property to deteriorate, or commit waste on the Property. Borrower must
<br />maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition.
<br />Unless Lender determines pursuant to Section 5 that repair or restoration is not economically feasible, Borrower will
<br />promptly repair 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 taking of, the
<br />Property, Borrower will be responsible for repairing or restoring the Property only if Lender has released proceeds
<br />for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of
<br />progress payments as the work is completed, depending on the size of the repair or restoration, the terms of the repair
<br />agreement, and whether Borrower is in Default on the Loan. I...ender may make such disbursements directly to
<br />Borrower, to the person repairing or restoring the Property, or payable jointly to both. If the insurance or
<br />condemnation proceeds are not sufficient to repair or restore the Property, Borrower remains obligated to complete
<br />such repair or restoration.
<br />If condemnation proceeds are paid in connection with the taking of the property, I..ender shall apply such
<br />proceeds to the reduction of the indebtedness under the Note and this Security Instrument, first to any delinquent
<br />amounts, and then to payment of principal. Any application of the proceeds to the principal shall not extend or
<br />postpone the due date of the monthly payments or change the amount of such payments.
<br />NEBRASKA FHA DEED OF TRUST - MERS
<br />NEDOTZ2N.FHA 09/09/25
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<br />Q2035825399460000000023397612d84-81f0-4b35-825e-c9d31d29VOf0818
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