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200301741 coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and /or as an additional loss payee. In the event of loss, Borrower shall give prompt nonceto the insurance carrier and Lender. Lender may make proof of loss door made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insuranceproceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair ofthe Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have [he right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. lender may disburse proccc s for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, ifany, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2 If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. IfBorrowcr does not respond within 30 days to a notice from I ender that the insurance carrier has offered to scale claim, then Lender may negotiate aid settle the claim. The 30 -day period will begin when the notice is given. In either event, or ifLender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to arty insurance proceeds in an amount not to exceed the anmounts unpaid under the Now or this Security hnslranemt, and (b) any other of Borrower's rights (other than the right to any refund ofunearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage ofthe Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days slier the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence ter at least one year after the date of occupancy, unless Lcndcr otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection ofthe Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Propery in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property ifdamaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, orthe taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender irmydisburse proceeds forthe repairs and restoration in a single payment or in a series of progress payments as the work is completed. Ifthe insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved ofBarrower's obligation for the completion ofsuch repair or restoration. Lender or its agent may, make reasonable entries upon and inspections ofthe Property. Ifit has reasonable cause, Lender may inspect the interior ofthe improvements on the Property. Lender shall give Borrower notice at the time ofor prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Burrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Under (or failed to provide lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occ upancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement ofalien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Under may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, slid securing and/or repairing the Property. Lender's actions can include, but are not limited to (a) paying any sums secured byalien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and /or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, charge locks, replace or brand up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned en cr off. Although Lender maytake action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at Note rate from the date of, isburscmcnt and.shall he payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions ofthe lease. IfPornever acquires fee title to the Property, the leasehold and the tee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiwns for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, m a cost substantially equivalent to the cost to Borrower ofthe Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Iender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shot to pay to Lender the amount of the separately designated payments that were due when the insurance Mortgage Insurance. Such loss reserve shall be non- relnndable, notwi0hstanding the tact hatthe Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve Lender can no longer squire loss reserve payments if Mortgage Insurance coverage (in die amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the prerniurns for Mortgage Insurance. If Lender required Mortgage Insurance as Econdition ofmakmg the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non - refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a parry to the Mortgage Insurance. NEBRASKA -- Single 4amily-- Fannie Mar /FoAdw Mar UNIFORM INSTRUMENT F. -0028 1 /01 (,a, 4uf8,,,,) 9754Cy(1 /02) 1643691 m0 '10(00041a27)