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200301786 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 Iznder as morgagce and/or as an add itiunal loss payee. In the event ufloss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof ofloss ifnot made promptly by Borrower. Unless Under and Borrower otherwise agree in writing, any insurareceproceeds, whether or nut the underlying Insurance was required by Lander, 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, Gander shall have the right to hold such insurance proceeds until Lender has had an oppommlty, to inspect such Property m ensure the work has been completed to l znder's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a singgle ppayment 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 ofthe insurance proceeds and shall he 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 scented by this Security Instrument, whether or not then due, with the excess, ifany, pad to Burrower. Such insurance roceeds 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. If Borrower does not respond within 30 days to a notice rom Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30 -day period will begin when the notice is given. Neither event, or ifUnder aeluires the Property under Section 22 or otherwise, Borrower herebyassigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Nate or this Security Instrument, and (b) any other of Borrower's rights (other than the right to try refund ofuneamed premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage uffl e 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 Propertyav Burrower's principal residence within 60 days alter the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preaervatiun, Maintenance and Protection of the 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 Burrower is residing in the Property, Borrower shall maintain the Property 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, Burrower shall promptly repair the Property ifdamaged to avoid further deterioration or damage. Ifinsurance or condemnation proceeds are paid In connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion ofsuch repair or restoration. Lender or its agent may make reasonable entries upon and inspections ofthe Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Lean application process, Borrower or any persons or entities acting at the direction of Burrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate Information or statements to Lender (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 occuparlcy ofthe Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. if (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) fuere is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement ofa lien which mayattain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender 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, and securing and /or repairing the Property. Lender's actions can include, but are not limited to (a) paying any sums secured by a lien which has priority over this Security Insa unnenq (b) appearing in court; and (c) paying reasonable attorneys fees to protect its interest in the Property and /or rights under this Securi ty Instrument, including Its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate budding or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take 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 authorimd under this Section 9. Any amounts disbursed by Under under this Section 9 shall become additional debt ufBorrower secured by this Security Instrument. These amounts shall bear interest some Note rate morn the date ofiisbursementand shall be payable, with such interest, upon notice from Iznder to Borrower requesting payment. Ifthis Security Instrument is on a leasehold, Borrower shall comply with all the provisions ofthe lease. IfBorrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger morning. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgge Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Gander ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower ofthe Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substadially equivalent Mortgage Insurance coverage is not available, Borrowershal continue topayto Lender the amount ofthe separately designated payments that were due when the insurance coverage ceased to be in e Let. Lender will accept, use and retain dnese payments as a non - refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non - refundable, notwithstanding the fact that the Loan is ultimately paid in frill, and Lender shall not he required to pay Borrower any interest or earnings on such loss reserve Lender can no longer require loss reserve payments if Mortgage Insurance coverage (In the amount and for the period that Lender requires) provided by an insurer selected by Lcndcr again becomes available, is obtained, and Lander requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as u condition ofmakmg the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Burrower shall pay the premiums required to maintain Mortgage insurance in effect, or to provide a non - refundable loss reserve, until I ender'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 party to the Mortgage Insurance. NEBRASKA - Single F,m1v— Fannie Mae /Freddie Mar t N[FORM INSTRUMBA'1' Forru3028 Fat (pnGr4nfRpnge.v) 9754 CV 11/021 1651496 G0TCs000419h)