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<br />93" 105101
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<br />6. Oo:upanc)', PreservatJon, Maiutenance aM Protection of the Property; Borrower'l Loan APJlAkatlon;
<br />Leaseholds. Borrower shall occupy, establish, and ure the Property as Borrower'lI p!'i~ipal residence within sixty days
<br />after the ::tttution of this Security InslI11ment and shall continue to occupy tin ~"+:. .~ t::>Trower's principal reside'.nce
<br />for at 1~8!t one year after L'le date of occupan::v, unless Lender otherwiseag.-ece .:.:~ ;;';altillg, which consent shall not be
<br />unreasonabiy withheld, or unless extenuating circumstances exist which are beyond Borrower's contrOl. BorroWet" shall not
<br />destroy, damage or impair the Property, allow the Property to deteriorate, otcommit waste on the Property. Borrower shall
<br />be in default if any forfeiture action or proceeding, whether civil or criminal, is begun thaI. in Lender's good faith judgment
<br />could result in forfeiture of the Property or otherwise materially impair the lien cteated by t~is Sec.l1ril:y Instrument or Lender's
<br />security interest. Borrower may cure such a default and reiIutate, as provided in paragraph 18, by'causing the action or
<br />proceeding to be dismissed with a rulingtr.l\t, in Lender's good faith defennination, precludes forfeiture of the Borrower's
<br />Interest in the Property or otbermaterial impairment of tl,e lien created by this ~:td!l' lnsttumcnt or Lender's security
<br />interest. Borrower shall also be in default if Borrower, during the ioan application process, ~..ve materi.ally false or inaccurate
<br />information or statements to lender (or failed to prO\ide Lender with any mamtl infonnation) in connection with the loan
<br />evidenced by Uu: Note, including, bul not limited tn, representations concerning Borrower's occupancy of the Property II
<br />a principal residence. If this Security In.'ltrument is 0.1 a leasehold, Borrower ihall comply with all the provisions of the lease,
<br />If Borrower acquires fee title to the Propelt). the; l.easebold and the fee ti,Je shall not merge unlw lendel' agrees to the
<br />merger in writing.
<br />7, Protection of urnler's Rights in the Property, If Borrower fails to perform tbecovenants aM agreements
<br />contained in this SecurityIn'!t.rument, or there is a leg,lI proceeding that may significantly affect Lenier's rights in the Property
<br />(such as a proceeding in bankruptcy ,probate, for condemnation or forfeiture or.to enforce laws OTregtJlations), then Lender
<br />may do and pav for whatever is necesSary to orolert t.... "!!!!~ ",f t'tte !T_p_rty a..~ umder's rights in the Property. Lender's
<br />~::~::::,- :'''\; :....:i:i';'; p"i.;;& ....1 sumssecured by a lienwbich has priority over this Security Instnunent, appearing in court,
<br />paying reasonable attorneys' fees and entering on the Property to make repairs. Althoup. Lender may take action un:lcr
<br />this paragraph 7, Lender does not have to do SQ.
<br />Any amounts disbursed by Lender under this paragraph 7 shall become additi:mal debt of Borrower secured by this
<br />Security instrumen,. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from
<br />the date of disbursement at the Note rate and shall be payable, witb interest, upon notice'from Lender to Borrower requesting
<br />payment.
<br />8, Mortgage Insurance, If Lender required mortgage insurance as a condition of making the loan secured by this
<br />Security Instrument, Borrower shall pay the premium.'! required to maintain the mortgage insurance in effect. If, for any
<br />reaoon, the mortgage insurance coverage required by lender lapses or ceases to be in effect, Dorrowershall pay the premiums
<br />required to obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a COSt substaJntially
<br />equivalent to the cost to Borrower of the mortgage insurance previously in effect, from an alternate mortgage insurer aPl)roved
<br />by L.('\ der. If substantially equivalent inortgage insurance coverage is not available, Borrower shPll pay lc' under each month
<br />II sum equal to one-twelfth of the yearly mortgage insurance premium being ptid by Borrower when the insurance ce,verage
<br />lapsed or ceased to be in effect. lender will aCL-ept, use and retain these payments as a loss reserve in lieu of mortgage
<br />insurance. Loss reserve payments may no longer be required~ at the option of lender, if mortgage insurance coverage (in
<br />the amount and for the period that Lendl:r requires) provided by an insurer approved by Lenderagainl;lecomes f1vailable
<br />~li1d is obtained. Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss
<br />n~serve, until the requirement for mortgage insurance ends in accordance \IIith any written agreement 'between Borrower
<br />and. Lender nr applicable law.
<br />9. Inspection, Lender or its agent may make reasonable entries upOr. and ins~tions oftheProPeoy, Lender shall
<br />give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />10. Condemnation. The proceeds of any award or c1l'.im for damages, direct or consequc;l1liaJ, in connection with
<br />any condemnation or other taking of any part of the Property, or for conveyance in lieu of cOndemna:ion, are hereby assigned
<br />and shall be paid to Lender. . .. ..,,'
<br />In the event of a total taking of the Property. the proceeds shall be applied to the sums secured by this Security Instrument,
<br />whether or not then due, with any excess paid to Borrower. In ,,'Ie event of a partial taking "fth~ Property in which the
<br />fair market value of the Prop'my immediately before the taking is. equal to or greater than the amount of the sums secured
<br />by this Security Instrument immediately before the taking, unless Borrower and Lender otherwise agree in writing, the sums
<br />secured by this Security Instrument shall be reduced by the amount of the pr(\Ceeds multiplied by the following fraction:
<br />(a) the tOOlI amount of the i;ums secured immediately before the taking, divided by (b)tl'ltfair ~ket value of the Property
<br />immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in
<br />which the fair 10:0 ir:t vaiue cf the Property immediately before the taking is less than the amount of the sums secured im-
<br />mediately before i..:,t; taking, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise pro-
<br />vides, the proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to BOlTower that the condemnor offers to
<br />make an award or 3ettle a claim for damages. Borrower fails to respond to Lendc.'r within 30 days after the date the notice
<br />is given, Lender is authorized to collect and apply the proceeds, at :ts option, either to restoralion or repair of the Property
<br />or to the sums secured by this Security Instrument, whether or not then due.
<br />Unless Lender and Borrower otherwis.e agree in writing, any application (Or proceeds to principal shall not extend
<br />or postpone the due date of the monthly payments referred 10 in paragraphs I and 2 or change Ihe amount of suet. payments,
<br />11, Borrower Not Released; Forbearance By Lender Not a Waiver, Extension of the time for payment or
<br />modification of amortizati()n of the sums secured by this Security Instrument granted by Lender to Bny successor in intere.st
<br />of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender
<br />shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or
<br />otherwise modify amortization of the sums secured by this Security Instrument by reason orany demand made by the original
<br />Bon.ower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be
<br />a wai'~er of or preclude the exercise of any right or remedy. .
<br />12. Succ~rs and AssIgns Bound; Joint and Several Liability; CG-lIigMrs, The covenants and agreements of
<br />this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions
<br />of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security
<br />Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to moltgage, grant and convey that
<br />Borrower's im"fcst in the Property under the tenns of this Security Instrument; (b) is not personally obligattd to pay the
<br />sums secur~ I;y this Security Instrument; and (c) agrees that Lend(.( and any other Borrower may agree to extend, modify,
<br />forbear or make any accommodations with regard to the terms of this Security InstflJment or the Note without that Borrower's
<br />consent. ~..
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<br />USIIC 3G4IA Il... 4/91 ~~,.r NEBRASKA For- 302lI lItO (ptll~ J of.5 pag~3)
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