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200302389 coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and stint] sane Lender as mortgagee and/or as an additional loss payee. In the event of lass, Borrower shall give prom t nonce to the immune carrier and Lender. Lender maymake proof of loss if not made promptly by Borrower. Unless lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shat l be applied to restoration or repair of the 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 the 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 satistaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a sin Ic 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 be the sole obligation of Borrower. It the restoration or repair is not economically feasible or I ender'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, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lander may file, negotiate and settle any available insurance claim and related matters. If Burrower does not respond within 30 days to a notice from 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. In either event, or ifLen h,, acquires die Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other ol'Burrower's rights (other than the right to any refund of-unearned 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 shut] occupy, establish, and use the Property as Borrower's principal residence within 60 days after 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. Preservat ion, 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 Property n order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursumrt to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property ifdamaged to avoid further de terioration or damage. ifinsurance or condemnation proceeds are paid in connection with damage lo, or the taking of the Property, Borrower shall be responsible Cor repairing or restoring the Property only if Lender has released pree eds for such purposes. Lender may disburse 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 sufficientro repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion ofsuch repair or restoration. I znder or its a4mnt may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Ixntdor may inspect the interior of the impprovements on the Property. ]znder shall give Borrower notice at the time infer prior to such an interior inspection spcarfyou such reasonable cause. 8. Borrower's Loan Application. Borrower shalt 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 fa]sc, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan . Mater's include, but are not limited to, representations concerning Borrower's occupancy of the 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 pert rm the covenants and agreements contained in this Security Instrument, (b) there 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, Cor enforcement ofa lien which may attain 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 nut limited to:(a) paying anysums secured bya lien 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 as 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 building 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 Linder incurs no liability for not asking any or all actions authorized under tIris Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured bythis Security Instrument These amounts shall bear interestatthe Not a rate from the date ofdisbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. Ifthis Security Instrument is on a leasehold, Borrower shall complywith all the provisions ofthe lease. IfBOrrower acquires tee title to the Property, the leasehold and the fee title shall not merge unless lender agres to die merger In writing. 1R. 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, fur any reason, the Mortgage Insurance coverage required by Under 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, al a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lcader. If substantially equivalent Mortgage Insurance coverage is not available, Bormwcrshot eontinueto payw Lender the amountofthe separately designated payments that were due when the insurance coverage ceased to be in effect [znder will accept, use and retain these payments as a non - refundable loss reserve in lieu of Mortlume Insurance. Such loss reserve shall be non - refundable, notwithstanding the fact that the I oan is ultimately paid in full, anJ Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mort gage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Leander requires separately designated payments toward the premiums for Mortgage Insurance. It ender required Mortgage Insurance as a condition 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 far 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 nut a party to the Mortgage Insurance. NFRRASKA-- Single Fatuity -- Fannie Mae /Freddie MOe UNIFORM ISSTRI IMENT Form3028 Lot (page4 f8pege4) 97£4 cv(I0?) 1661Uaa vomlmnwase)